Brought to you by WBIW News and Network Indiana
Last updated on Monday, April 6, 2015
(WASHINGTON) - As the April 15 tax deadline nears, people who got help paying for health insurance under President Barack Obama’s law are seeing the direct effect on their refunds - hundreds of dollars, for better or worse.
The law offers tax credits so people without job-based health insurance can buy private coverage. These subsidies are tied to income, so consumers have to estimate accurately what they'll make for the coming year.
And that's been a challenge for lots of people.
Earlier in the filing season, the tax preparation company H&R Block reported that 52 percent of its customers who got health insurance subsidies owed money back. Repayments averaged $530.
On the other hand, about one-third of customers with subsidies overestimated their incomes. Their refunds went up by $365 on average.
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