Insurance Companies must report to IRS

[mickeyd]

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.”​

Read more: Americans for Tax Reform : Obamacare: Taxpayers Must Report Personal Health ID Info to IRS ​

 

[marko]

We do this already in Mass. Doesn't seem to be a problem, however multiplying it by a few hundred million could get 'busy'.

 

[rbmrtn]

Read more: Americans for Tax Reform : Obamacare: Taxpayers Must Report Personal Health ID Info to IRS ​

Some more info

FactCheck.org » IRS

 

[M Paquette]

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.

 

[travelover]

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.