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Obamacare credits could trigger surprise tax bills

Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don't accurately project their income.

By Stephen Ohlemacher | Updated on April 02, 2013
President Barack Obama speaks in the East Room of the White House in Washington, Tuesday, April 2, 2013. (AP Photo/Susan Walsh)

WASHINGTON (AP) — Millions of people who take advantage of government subsidies to help buy health insurance next year could get stung by surprise tax bills if they don’t accurately project their income.

President Barack Obama’s new health care law will offer subsidies to help people buy private health insurance on state-based exchanges, if they don’t already get coverage through their employers. The subsidies are based on income. The lower your income, the bigger the subsidy.

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