What are you going to spend your $2500 obamacare rebate/savings on

[Mad_Cabbie]

It's not a $2,500.00 rebate.


Obama was speaking about lowering premiums.

The tax break comes in the form of an IRS refundable tax-credit; not every one will receive it.

All family members must qualify individually as well.

The Premium Tax Credit

Basic Information
Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. The open enrollment period to purchase health insurance coverage for 2014 through the Marketplace runs from Oct. 1, 2013, through March 31, 2014.

The Department of Health and Human Services administers the requirements for the Marketplace and the health plans they offer. For more information about your coverage options, financial assistance and the Marketplace, visit HealthCare.gov.

Eligibility
In general, you may be eligible for the credit if you meet all of the following:
buy health insurance through the Marketplace;
are ineligible for coverage through an employer or government plan;
are within certain income limits;
file a joint return, if married; and
cannot be claimed as a dependent by another person.
If you are eligible for the credit, you can choose to:
Get It Now: have some or all of the estimated credit paid in advance directly to your insurance company to lower what you pay out-of-pocket for your monthly premiums during 2014; or
Get It Later: wait to get all of the credit when you file your 2014 tax return in 2015.

Getting the Credit
To qualify for the credit, you must get insurance through the Marketplace.
During enrollment through the Marketplace, using information you provide about your projected income and family composition for 2014, the Marketplace will estimate the amount of the Premium Tax Credit you will be able to claim for the 2014 tax year that you will file in 2015.
You will then decide whether you want to have all, some or none of your estimated credit paid in advance directly to your insurance company.

Change in Circumstances
Report income and family size changes to the Marketplace throughout the year. Reporting changes will help make sure you get the proper type and amount of financial assistance and will help you avoid getting too much or too little in advance. Receiving too much or too little in advance can affect your refund or balance due when you file your 2014 tax return in 2015.
For example, if you do not report income or family size changes to the Marketplace when they happen in 2014, the advance payments may not match your actual qualified credit amount on your federal tax return that you will file in 2015. This might result in a smaller refund or balance due.

Claiming the Credit on Your Federal Tax Return
For any tax year, if you receive advance credit payments in any amount or if you plan to claim the premium tax credit, you must file a federal income tax return for that year.
If you choose to get it now: When you file your 2014 tax return in 2015, you will subtract the total advance payments you received during the year from the amount of the Premium Tax Credit calculated on your tax return. If the Premium Tax Credit computed on the return is more than the advance payments made on your behalf during the year, the difference will increase your refund or lower the amount of tax you owe. If the advance credit payments are more than the Premium Tax Credit, the difference will increase the amount you owe and result in either a smaller refund or a balance due.
If you choose to get it later: You will claim the full amount of the Premium Tax Credit when you file your 2014 tax return in 2015. This will either increase your refund or lower your balance due.

More Information
More detailed information about the credit is available in our Questions and Answers.
In addition, the Department of the Treasury and the IRS issued the following legal guidance related to the Premium Tax Credit:
Final regulations on the rules for individuals who enroll in qualified health plans through Marketplaces and claim the Premium Tax Credit.
Final regulations on the Premium Tax Credit affordability test for related individuals.
Proposed regulations on determining minimum value of eligible employer-sponsored plans and other rules regarding the Premium Tax Credit.

Notice 2013-41 on determining whether or when individuals are considered eligible for coverage under certain Medicaid, Medicare, CHIP, TRICARE, student health or state high risk pool programs.
An electronic flyer entitled "Facts about the Premium Tax Credit" (Publication 5120) is available for public use and distribution.

http://www.irs.gov/uac/The-Premium-Tax-Credit



There are quite a few requirements that have to be met - including, but not limited to income.

Looking ahead to 2014
Premium Tax Credit: To claim the premium tax credit, you must get insurance through the Marketplace. You can elect to have advance payments of the tax credit sent directly to your insurer during 2014, or wait to claim the credit when you file your tax return in 2015. If you choose to have advance payments sent to your insurer, you will have to reconcile the payments on your 2014 tax return filed in 2015. Learn More.
Individual Shared Responsibility Payment: Starting January 2014, you and your family must either have health care coverage, have an exemption from coverage, or make a payment when you file your 2014 tax return in 2015. Most people already have qualifying health care coverage and will not need to do anything more than maintain that coverage throughout 2014. Learn More.
Change in Circumstances: If you are receiving advance payments of the premium tax credit to help pay for your insurance coverage, you should report changes such as income or family size to your marketplace. Reporting changes will help to make sure you are getting the proper amount of assistance.

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-for-Individuals-and-Families


I used to do taxes for a living and there are a lot of people who think that they qualify for tax credits ... like the EIC, but don't.

Refundable tax credits are the best kind because they are not limited to income or amounts already being refunded.


I hope that you posters find this information useful.

Good luck.

 

[blackhawk]

Strippers and booze.

 

[Claudette]

Hookers!!! And not those nasty, crack alley types... I'm taking first class hookers with full sets of teeth!

LMAO You rock dude.

 

[Ame®icano]

Hookers!!! And not those nasty, crack alley types... I'm taking first class hookers with full sets of teeth!

Those are hookers from alley, who spent Barry's $2500 on new set of teeth.

 

[Spoonman]

The $2,500 of savings that Obama Promised Each Family!

I hear some folks are still waiting on their 40 acres and a mule the government promised them

 

[National Socialist]

What rebate?

That's what I was going to ask! Me? I would put it in the savings account for a rainy day. I expect to get quite a good bit back from income tax refund so everything should be taken care of with that.

 

[Avorysuds]

It's not a $2,500.00 rebate.


Obama was speaking about lowering premiums.

The tax break comes in the form of an IRS refundable tax-credit; not every one will receive it.

All family members must qualify individually as well.

The Premium Tax Credit

Basic Information
Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. The open enrollment period to purchase health insurance coverage for 2014 through the Marketplace runs from Oct. 1, 2013, through March 31, 2014.

The Department of Health and Human Services administers the requirements for the Marketplace and the health plans they offer. For more information about your coverage options, financial assistance and the Marketplace, visit HealthCare.gov.

Eligibility
In general, you may be eligible for the credit if you meet all of the following:
buy health insurance through the Marketplace;
are ineligible for coverage through an employer or government plan;
are within certain income limits;
file a joint return, if married; and
cannot be claimed as a dependent by another person.
If you are eligible for the credit, you can choose to:
Get It Now: have some or all of the estimated credit paid in advance directly to your insurance company to lower what you pay out-of-pocket for your monthly premiums during 2014; or
Get It Later: wait to get all of the credit when you file your 2014 tax return in 2015.

Getting the Credit
To qualify for the credit, you must get insurance through the Marketplace.
During enrollment through the Marketplace, using information you provide about your projected income and family composition for 2014, the Marketplace will estimate the amount of the Premium Tax Credit you will be able to claim for the 2014 tax year that you will file in 2015.
You will then decide whether you want to have all, some or none of your estimated credit paid in advance directly to your insurance company.

Change in Circumstances
Report income and family size changes to the Marketplace throughout the year. Reporting changes will help make sure you get the proper type and amount of financial assistance and will help you avoid getting too much or too little in advance. Receiving too much or too little in advance can affect your refund or balance due when you file your 2014 tax return in 2015.
For example, if you do not report income or family size changes to the Marketplace when they happen in 2014, the advance payments may not match your actual qualified credit amount on your federal tax return that you will file in 2015. This might result in a smaller refund or balance due.

Claiming the Credit on Your Federal Tax Return
For any tax year, if you receive advance credit payments in any amount or if you plan to claim the premium tax credit, you must file a federal income tax return for that year.
If you choose to get it now: When you file your 2014 tax return in 2015, you will subtract the total advance payments you received during the year from the amount of the Premium Tax Credit calculated on your tax return. If the Premium Tax Credit computed on the return is more than the advance payments made on your behalf during the year, the difference will increase your refund or lower the amount of tax you owe. If the advance credit payments are more than the Premium Tax Credit, the difference will increase the amount you owe and result in either a smaller refund or a balance due.
If you choose to get it later: You will claim the full amount of the Premium Tax Credit when you file your 2014 tax return in 2015. This will either increase your refund or lower your balance due.

More Information
More detailed information about the credit is available in our Questions and Answers.
In addition, the Department of the Treasury and the IRS issued the following legal guidance related to the Premium Tax Credit:
Final regulations on the rules for individuals who enroll in qualified health plans through Marketplaces and claim the Premium Tax Credit.
Final regulations on the Premium Tax Credit affordability test for related individuals.
Proposed regulations on determining minimum value of eligible employer-sponsored plans and other rules regarding the Premium Tax Credit.

Notice 2013-41 on determining whether or when individuals are considered eligible for coverage under certain Medicaid, Medicare, CHIP, TRICARE, student health or state high risk pool programs.
An electronic flyer entitled "Facts about the Premium Tax Credit" (Publication 5120) is available for public use and distribution.

The Premium Tax Credit



There are quite a few requirements that have to be met - including, but not limited to income.

Looking ahead to 2014
Premium Tax Credit: To claim the premium tax credit, you must get insurance through the Marketplace. You can elect to have advance payments of the tax credit sent directly to your insurer during 2014, or wait to claim the credit when you file your tax return in 2015. If you choose to have advance payments sent to your insurer, you will have to reconcile the payments on your 2014 tax return filed in 2015. Learn More.
Individual Shared Responsibility Payment: Starting January 2014, you and your family must either have health care coverage, have an exemption from coverage, or make a payment when you file your 2014 tax return in 2015. Most people already have qualifying health care coverage and will not need to do anything more than maintain that coverage throughout 2014. Learn More.
Change in Circumstances: If you are receiving advance payments of the premium tax credit to help pay for your insurance coverage, you should report changes such as income or family size to your marketplace. Reporting changes will help to make sure you are getting the proper amount of assistance.

Affordable Care Act Tax Provisions for Individuals and Families


I used to do taxes for a living and there are a lot of people who think that they qualify for tax credits ... like the EIC, but don't.

Refundable tax credits are the best kind because they are not limited to income or amounts already being refunded.


I hope that you posters find this information useful.

Good luck.

You know, it's odd because there is VIDEO of Obama claiming each family would getting this 2,500$.... Over and over it was repeated by Obama in a video. Never once did Obama claim a single thing your talking about, maybe you have video of Obama telling crowds of people all the strings that come attached to this money? Maybe the video was edited and the evil Republicans cut that part out, repeatedly.

Or maybe you just don't care about the truth you claim is so important. Lets find out!

 

[SwimExpert]

I reckon i"ll be so cankered in riches from obamacAre I'll buy a new 5 wheel. MAybe 3 or 4.

I'll let you know if I manage to have any extra money after the extra money Obamacare is costing me.

 

[SwimExpert]

Of course there's no such promise immediately, except in Pub World. When more insurers actually join in the competition on the exchanges, you'll get the savings...

Yeah. I guess we have to spend our savings before we can see how much our savings will be.

 

[Avorysuds]

"$2,500 dollars, per family, per year." Gosh, I can see why some people feel there is something to debate despite Obama repeating that 20+ times all caught on video. Wonder if we could go back in time and clear things up if the crowds would be on their feet cheering mindlessly......... Buy I guess Obama won, and that means he is King! Even if he lied about everything to get there.

 

[1776]

As usual a pile of shit steps up to tell everyone "Obama didn't say what we all heard him say."

It's not a $2,500.00 rebate.


Obama was speaking about lowering premiums.

The tax break comes in the form of an IRS refundable tax-credit; not every one will receive it.

All family members must qualify individually as well.

The Premium Tax Credit

Basic Information
Starting in 2014, if you get your health insurance coverage through the Health Insurance Marketplace, you may be eligible for the Premium Tax Credit. This tax credit can help make purchasing health insurance coverage more affordable for people with moderate incomes. The open enrollment period to purchase health insurance coverage for 2014 through the Marketplace runs from Oct. 1, 2013, through March 31, 2014.

The Department of Health and Human Services administers the requirements for the Marketplace and the health plans they offer. For more information about your coverage options, financial assistance and the Marketplace, visit HealthCare.gov.

Eligibility
In general, you may be eligible for the credit if you meet all of the following:
buy health insurance through the Marketplace;
are ineligible for coverage through an employer or government plan;
are within certain income limits;
file a joint return, if married; and
cannot be claimed as a dependent by another person.
If you are eligible for the credit, you can choose to:
Get It Now: have some or all of the estimated credit paid in advance directly to your insurance company to lower what you pay out-of-pocket for your monthly premiums during 2014; or
Get It Later: wait to get all of the credit when you file your 2014 tax return in 2015.

Getting the Credit
To qualify for the credit, you must get insurance through the Marketplace.
During enrollment through the Marketplace, using information you provide about your projected income and family composition for 2014, the Marketplace will estimate the amount of the Premium Tax Credit you will be able to claim for the 2014 tax year that you will file in 2015.
You will then decide whether you want to have all, some or none of your estimated credit paid in advance directly to your insurance company.

Change in Circumstances
Report income and family size changes to the Marketplace throughout the year. Reporting changes will help make sure you get the proper type and amount of financial assistance and will help you avoid getting too much or too little in advance. Receiving too much or too little in advance can affect your refund or balance due when you file your 2014 tax return in 2015.
For example, if you do not report income or family size changes to the Marketplace when they happen in 2014, the advance payments may not match your actual qualified credit amount on your federal tax return that you will file in 2015. This might result in a smaller refund or balance due.

Claiming the Credit on Your Federal Tax Return
For any tax year, if you receive advance credit payments in any amount or if you plan to claim the premium tax credit, you must file a federal income tax return for that year.
If you choose to get it now: When you file your 2014 tax return in 2015, you will subtract the total advance payments you received during the year from the amount of the Premium Tax Credit calculated on your tax return. If the Premium Tax Credit computed on the return is more than the advance payments made on your behalf during the year, the difference will increase your refund or lower the amount of tax you owe. If the advance credit payments are more than the Premium Tax Credit, the difference will increase the amount you owe and result in either a smaller refund or a balance due.
If you choose to get it later: You will claim the full amount of the Premium Tax Credit when you file your 2014 tax return in 2015. This will either increase your refund or lower your balance due.

More Information
More detailed information about the credit is available in our Questions and Answers.
In addition, the Department of the Treasury and the IRS issued the following legal guidance related to the Premium Tax Credit:
Final regulations on the rules for individuals who enroll in qualified health plans through Marketplaces and claim the Premium Tax Credit.
Final regulations on the Premium Tax Credit affordability test for related individuals.
Proposed regulations on determining minimum value of eligible employer-sponsored plans and other rules regarding the Premium Tax Credit.

Notice 2013-41 on determining whether or when individuals are considered eligible for coverage under certain Medicaid, Medicare, CHIP, TRICARE, student health or state high risk pool programs.
An electronic flyer entitled "Facts about the Premium Tax Credit" (Publication 5120) is available for public use and distribution.

The Premium Tax Credit



There are quite a few requirements that have to be met - including, but not limited to income.

Looking ahead to 2014
Premium Tax Credit: To claim the premium tax credit, you must get insurance through the Marketplace. You can elect to have advance payments of the tax credit sent directly to your insurer during 2014, or wait to claim the credit when you file your tax return in 2015. If you choose to have advance payments sent to your insurer, you will have to reconcile the payments on your 2014 tax return filed in 2015. Learn More.
Individual Shared Responsibility Payment: Starting January 2014, you and your family must either have health care coverage, have an exemption from coverage, or make a payment when you file your 2014 tax return in 2015. Most people already have qualifying health care coverage and will not need to do anything more than maintain that coverage throughout 2014. Learn More.
Change in Circumstances: If you are receiving advance payments of the premium tax credit to help pay for your insurance coverage, you should report changes such as income or family size to your marketplace. Reporting changes will help to make sure you are getting the proper amount of assistance.

Affordable Care Act Tax Provisions for Individuals and Families


I used to do taxes for a living and there are a lot of people who think that they qualify for tax credits ... like the EIC, but don't.

Refundable tax credits are the best kind because they are not limited to income or amounts already being refunded.


I hope that you posters find this information useful.

Good luck.

 

[DiamondDave]

With my reduced costs and savings and rebate and happy feelings, all brought to us by Obamalama and his beloved pet project of care... I am buying myself a lot of time at home, because money that would normally been spent on vacation, or a new tile floor, or something like that will simply get thrown away into expanded costs and taxes for a goddamn program the government has no business being in