IRS Releases ACA Reporting Forms and Instructions

Posted on May 13, 2015 in Health Care Reform, Industry & Legislative News

The IRS recently released the final forms and instructions for Section 6055 and 6056 reporting. Additionally, the IRS released Publication 5196, Understanding Employer Reporting Requirements of the Health Care Law, in order to help employers prepare for reporting in 2016.

Forms 6055 and 6056 are not required to be filed for 2014, but employers may choose to voluntarily file in 2015 for 2014 coverage using the released forms and instructions.

For more information on the new reporting forms and instructions, see the IRS’ Q&As on Section 6055 and Q&As on Section 6056.

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47 million uninsured? Try 14.5 million

Posted on Sep 2, 2009 in Health Care Reform

They say you can use statistics to tell any story you want. Just make the numbers do what you need them to. We’ve all heard the lawmakers in favor of a public plan throw out a figure of 47 million uninsured in the United States. Well, if you really look at the calculations, that number shrinks to an actual number of 14.7-17.5 million uninsured.

Want to know how they come up with that 47 million number?
The real number of uninsuredSo if you look at the chart on the left, you’ll see that it starts with 47 million.

Now, subtract out the 8.4 million that are eligible for Medicare/SCHIP but have not bothered to enroll in the program.

Now, subtract out the 10.2 million people who are not U.S. citizens.

Now, subtract out the 4.7 million college students who would rather spend their money on textbooks than health insurance.

Now, subtract out the 9.2 million people who are in-between jobs and have not taken COBRA or are in their benefit waiting period. This also includes those people who have incomes higher than $75,000 who could buy insurance but chose not to  those individuals who are in-between jobs and have not taken COBRA or are in their benefit waiting period.  This includes the ultra-wealthy (think guys like Bill Gates) who can afford to pay out of pocket for anything they need.

So, once you clear up the numbers, you are left with 14.5 to 17.5 million uninsured. This is only 5.7% of the current U.S. population of 304 million!

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