Here are five points:
1. Federal rules require anyone who receives an insurance subsidy to file a tax return to ensure the person was eligible and receives the correct amount of financial assistance based on household income.
2. The federal insurance market opens for third enrollment season next Sunday. Users will see a new question on the form: “Did your household file a 2014 tax return and reconcile any premium tax credit you used?”
3. If respondents answer no, they risk losing the subsidies they receive to help pay for premiums. Consumers may find insurance unaffordable if they do not receive the subsidies.
4. The Internal Revenue Service found 710,000 people who had received subsidies under the Affordable Care Act did not file tax returns and did not request more time to do so in July.
5. Some individuals who lose their subsidies on Jan. 1 may have the opportunity to have them restored if they go to HealthCare.gov. They can attest to having filed tax returns for 2014.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.