News Headlines Article

Health subsidies reach $3.2 billion in Calif.
San Diego Union-Tribune

Californians received $3.2 billion in health insurance subsidies in 2014, and now it’s time to settle up with the Internal Revenue Service.

The Affordable Care Act grants income-based subsidies to individuals and families but requires them to reconcile the payments on their tax returns the following year. Because health exchanges started offering coverage for the first time in 2014, this year is the first time Americans will have to address the matter on their tax returns.