1. Beware -Surprise: A new tax bill for you???
- If you are one of millions who qualify to take advantage of a government subsidy when purchasing health insurance, be careful! You could get hit by a surprise tax bill if your income was not accurately projected. The subsidies for medical insurance are based on your current income. If you or your spouse receives a raise fiscal year you may end up with a bigger subsidy than you are entitled to. Law states you will have to pay back some if not all of this subsidy during tax season 2015! Open enrollment is set for 10/1/2013 on the individual marketplace/exchange. SHOP for small businesses has been delayed to 2015, announced 4/2/2013. Could the individual exchange follow?
"Guiding Individuals and Businesses Through Times of Change"
