Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Insurance Companies must report to IRS
Old 05-11-2013, 07:00 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,664
Insurance Companies must report to IRS

Looks like the IRS will be doing a bit of hiring if they are going to meet this challange.

Simply put, there is no way for the IRS to enforce Obamacare’s individual mandate without such an invasive reporting scheme.

Every January, health insurance companies across America will send out tax documents to each insured individual. This tax document—a copy of which will be furnished to the IRS—must contain sufficient information for taxpayers to prove that they purchased qualifying health insurance under Obamacare.

This new tax information document must, at a minimum, contain: the name and health insurance identification number of the taxpayer; the name and tax identification number of the health insurance company; the number of months the taxpayer was covered by this insurance plan; and whether or not the plan was purchased in one of Obamacare’s “exchanges.”


Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-11-2013, 07:25 PM   #2
Thinks s/he gets paid by the post
Join Date: Mar 2011
Posts: 2,889
We do this already in Mass. Doesn't seem to be a problem, however multiplying it by a few hundred million could get 'busy'.

Living well is the best revenge!
Retired @ 52 in 2005
marko is offline   Reply With Quote
Old 05-11-2013, 07:27 PM   #3
Thinks s/he gets paid by the post
Join Date: Jul 2012
Location: Mississippi
Posts: 1,825
Some more info » IRS
rbmrtn is offline   Reply With Quote
Old 05-12-2013, 04:24 PM   #4
Join Date: Oct 2007
Posts: 4,929
And this is different from what I need to present at a tax audit to back up my claiming medical insurance on Schedule A how, exactly? Oh, the insurer supplied everything on a single sheet of paper, so I don't need a folder full of statements and my check records.

Meh. M... E... H... Meh.

This is something only a righteous indignation junkie could find outrage in.
M Paquette is offline   Reply With Quote
Old 05-12-2013, 07:56 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
Join Date: Mar 2007
Posts: 8,491
It can't be ignored that a certain segment of the population is perpetually enraged by Obama and the ACA. So any topic that touches on either is on a trajectory to politicking, gamesmanship and conflict.
Yes, I have achieved work / life balance.
travelover is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 03:31 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.