Tags: Healthcare Reform | Newsmax Now | Newsmax TV | Betsy McCaughey | obamacare | affordable care act | tax subsidies

McCaughey: 96 Error Rate on Obamacare Tax Credits 'Ridiculous'

By    |   Friday, 15 May 2015 04:03 PM

Unexpected tax bills caused by a "ridiculous" government error rate for subsidies to people buying health coverage reflect the "total incompetence" of the Affordable Care Act's implementers, says health policy analyst Betsy McCaughey.

"Whether you supported the idea of Obamacare or not, the fact is it hasn't been executed well at all," McCaughey told "Newsmax Now" host Miranda Khan and John Bachman on Newsmax TV on Friday in a panel discussion with Forbes.com contributor Rick Ungar.

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"Think about it: 96 percent of the subsidies handed out in the past year were incorrect," said McCaughey. "Some were too big, some were too small, and only 4 percent of taxpayers who got Obamacare got the subsidy right.

"So, half of [the rest] owe money and the other half are owed more," she said. "It's ridiculous."

Ungar, a liberal political talk show host on satellite radio, agreed that execution is "a problem" but took a long view.

"You always have growing pains when you try and mount something like this," he said.

"With that said, I would have to agree with Betsy," said Ungar. "We've seen some of the difficulties that have come with the execution with Obamacare. It hasn't been pretty, but there're still going to be difficulties as you get this thing rolling, even in the best of circumstances.

"Not letting them off the hook, though: there are mistakes being made," he said.

McCaughey endorsed a push by Sen. Rob Portman of Ohio to investigate how Health and Human Services is calculating and handing out billions in tax credits that lower monthly premiums.

Ungar also vouched for Portman, chairman of the Senate Permanent Subcommittee on Investigations: "I consider him a very realistic, sensible guy, so you probably picked the right Republican to look into this."

McCaughey said any other congressional moves on Obamacare might have to wait for a Supreme Court ruling — due next month — in King v. Burwell, which could strike down the subsidies.

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Unexpected tax bills caused by a ridiculous government error rate for subsidies to people buying health coverage reflect the "total incompetence" of the Affordable Care Act's implementers, says health policy analyst Betsy McCaughey.
Betsy McCaughey, obamacare, affordable care act, tax subsidies
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2015-03-15
Friday, 15 May 2015 04:03 PM
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