by Jim Grawe
KWCH 12 Eyewitness News
8:34 PM CST, February 18, 2013
The law passed three years ago. Still, a lot of Kansans have no idea how the so-called "Affordable Care Act" will affect them starting in October.
Some will get a subsidy, some will have have to pay a penalty, for others it'll be neither. It's all based on your 2012 tax returns.
"Man, I don't know," Wichita resident Zeb Harrington says. "I haven't done enough homework on it."
Everybody who gets their taxes done at H and R Block this year is getting a free health care assessment. It gives them their first look into what health care reform will mean for them.
"This is the biggest change in the federal tax code in 20 years," H and R Block master tax advisor Susan Chacon says.
Chacon says it's a big eye-opener for a lot of people. Many are shocked to learn they'll have to pay a penalty to the government because they don't have health insurance. The penalty will be added to their tax bill next year. Meanwhile, many at certain income levels will get a subsidy from the government.
"I had a lady who made fifty-thousand dollars, and when we printed it out it said she would qualify for a subsidy," Chacon says.
W-2 forms this year indicate whether you have health insurance through your employer. If you do, Chacon says there's no penalty or subsidy, but the government still has to know.
"This is going to affect every single person who files their taxes," Chacon adds.
She says there are still a lot of unanswered questions, but this is a start in helping people understand what's coming.
Click here to see H and R Block's free website which includes detailed information.
Click here to see the official Obamacare website.
Click here to read the entire health care reform law.
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