Wednesday, July 17, 2013

OK, THIS MAKES A LITTLE MORE SENSE

Parts of the GOP Noise Machine was pushing the meme that billions would be wasted by Obamacare because people could lie about their income but now that seems much less likely:
Credit Reporting Agency Hired to Verify Incomes for Insurance Subsidies
By ROBERT PEAR
Published: July 16, 2013
NY Times

WASHINGTON — The Obama administration has hired a credit reporting agency to help verify the incomes of people who apply for federal subsidies to buy insurance under the new health care law. The company, Equifax Workforce Solutions, a unit of Equifax Inc., will provide information that is more current than what is available on federal income tax returns.

Under rules published Monday in the Federal Register, an exchange may, in some cases, rely on what consumers say about their income and employer-sponsored coverage if such information cannot be obtained from employers or other sources.

Senator Orrin G. Hatch of Utah, the senior Republican on the Finance Committee, said it was “little more than an honor system for billions of dollars of premium subsidies.”

Federal officials said they would rely on Equifax — a company widely used by mortgage lenders, social service agencies and others — to verify income and employment and could extend the initial 12-month contract, bringing its potential value to $329.4 million over five years.

No comments: