Industry Breaking News
Aetna Alleges Delays and Misconduct in Antitrust Case
Aetna accused the Department of Justice of delaying access to information held by the Centers for Medicare and Medicaid Services (CMS) they claim is central to their antitrust case in which the government is attempting to halt Aetna’s merger with Humana. The suit alleges that the deal would limit consumer choices and competition, while driving up the cost of coverage.
The two insurers hoped to finalize the merger by year end. However, the DOJ says the trial may not happen until 2017.
Last month, Republican Senators Tom Cotton (Ark.) and Ben Sasse (Neb) questioned whether the DOJ, in the Department’s review of the proposed merger, may have encouraged participation in the marketplace in exchange for favorable evaluation of the merger.
Bill Clinton: Obamacare is a “Crazy System”
In what is being called a new wave of complaints about the Affordable Care Act (aka Obamacare), Democrats are joining in on the bandwagon. Last Monday, in Michigan, Bill Clinton called the Act a “crazy system,” and suggested that people unable to qualify for credit in the form of tax subsidies are being “killed.”
Both Democrats and Republicans have expressed frustration and anger over the lack of availability of access to care in 2017, as exchanges flee, rates climb –skyrocketing in some markets, – and healthcare access plunges in some areas.
In a New York Times article on Monday, the Chief Executive of the National Association of Health Underwriters, Hanet S. Trautwein called employer markets “fairly stable,” but cautioned that the individual market “does not feel stable at all.”
4 IRS Data FACTS about Obamacare Subsidies
The IRS has begun releasing data on the tax penalties and subsidies associated with Obamacare for 2014, the year the subsidy program took effect.
- 1 million Taxpayers owed the IRS $1.7 billion in tax penalties associated with not having qualified health insurance coverage according to the Affordable Care Act (ACA).
- Approximately 40% of people who owed the IRS due to the tax penalty had incomes of under $35,000.
- 4 million Taxpayers reported $12 billion in ACA advance premium tax credit subsidies.
- 8 million Taxpayers received $1.4 billion in excess premium help, paid to the taxpayer in the form of a check after the taxpayer filed their taxes.
- The majority of people receiving help with their premiums in the form of a tax credit, reported adjusted gross incomes of under $35,000.
Those who filed incorrect returns were required to file amended returns. However, the 2014 IRS report did not provide information about amended returns.
To view the entire report, visit https://www.irs.gov/pub/irs-soi/14inalcr.pdf