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new excise tax on health insurance
04-01-2017, 03:32 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,876
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new excise tax on health insurance
One of the lesser-known consequences of the ACA not being repealed is its excise tax that goes into effect today. Starting this month a 10% excise tax is being applied to all health insurance premiums. If you are over 62.5 years of age and do not use health care services during a covered month, formerly you were going to be able to opt out of this excise tax, but now instead you can apply for the "Healthy Retiree" credit by filing the appropriate form each month with the IRS. This is all part of the Act Protecting Retired Individuals Lives, Formerly Opt Out Law. The credit form is now available at the IRS web site.
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04-01-2017, 03:36 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,003
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Quote:
Originally Posted by GrayHare
One of the lesser-known consequences of the ACA not being repealed is its excise tax that goes into effect today. Starting this month a 10% excise tax is being applied to all health insurance premiums. If you are over 62.5 years of age and do not use health care services during a covered month, formerly you were going to be able to opt out of this excise tax, but now instead you can apply for the "Healthy Retiree" credit by filing the appropriate form each month with the IRS. This is all part of the Act Protecting Retired Individuals Lives, Formerly Opt Out Law. The credit form is now available at the IRS web site.
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Link to form on IRS web site? It is April 1, after all...
__________________
Numbers is hard
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04-01-2017, 03:40 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,263
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Good strategy waiting until later in the day when people are less suspecting.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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04-01-2017, 03:41 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Dec 2014
Location: St. Charles
Posts: 3,903
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Quote:
Originally Posted by GrayHare
One of the lesser-known consequences of the ACA not being repealed is its excise tax that goes into effect today. Starting this month a 10% excise tax is being applied to all health insurance premiums. If you are over 62.5 years of age and do not use health care services during a covered month, formerly you were going to be able to opt out of this excise tax, but now instead you can apply for the "Healthy Retiree" credit by filing the appropriate form each month with the IRS. This is all part of the Act Protecting Retired Individuals Lives, Formerly Opt Out Law. The credit form is now available at the IRS web site.
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You almost got me .
__________________
If your not living on the edge, you're taking up too much space.
Never slow down, never grow old!
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04-01-2017, 03:42 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,307
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Quote:
Originally Posted by REWahoo
Link to form on IRS web site? It is April 1, after all...
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Nice catch, REWahoo -- I hope.....
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04-01-2017, 04:29 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Nov 2011
Posts: 3,876
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Shoehorning the acronym was fun.
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04-01-2017, 04:31 PM
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#7
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Recycles dryer sheets
Join Date: May 2016
Posts: 313
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Oh, the Act Protecting Retired Individuals Lives, Formerly Opt Out Law. I've heard about that.
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