The coming tax season brings new forms, which apparently will need to be filled out and included with your return in order to satisfy the requirements of newly-added Line 61 on your Form 1040: Health care: individual responsibility. New this year for your computational and documental pleasure: Form 1095-A, Form 1095-B, and (assuming you were somehow able to qualify for an exemption) Form 8965.
Of course, these are just the initial drafts, so there may well be more on the way. Form 1095-A, for example, will require you to list all individuals covered by a health insurance policy, their SSNs, dates of birth, date policy took effect, and date policy terminated. As well, you’ll need to list the insurance provider and the “Marketplace identifier” through which you enrolled to obtain said policy.
However, please remember as you wade through all of the new required material in order to put a number onto Line 61: This is not a tax! Obama himself said so, numerous times, in absolutely positively promising that if you make less than $250,000 a year, your taxes will not increase by even one thin dime:
In an address to a joint session of Congress on Feb. 24, 2009, President Obama restated the promise in forceful terms:
“If your family earns less than $250,000 a year, you will not see your taxes increased a single dime. I repeat: not one single dime.” [Transcript]
And your pResident would never lie. Especially helpful is the fact that by redefining “full time employment” downward from 40 hours per week to 30 hours under Obamacare, many employees are finding themselves working no more than 29 hours per week – which of course is really helpful in keeping food, shelter, and energy payments together, along with new mandatory health insurance requirements. But then, as Nancy Pelosi famously opined, working significantly fewer hours will “allow people to find their passion”.
Don’t know about you, but one of my passions is eating a few times a day.