H&R Block says tax refunds show the impact of the Affordable Care Act | The Kansas City Star The Kansas City Star

 

The Affordable Care Act helped millions gain health insurance last year but is cutting into the tax refunds for many as they file returns this year.

H&R Block said Tuesday that the health care law is changing the refunds for 90 percent of its clients who had enrolled for health care coverage through federal or state exchanges for 2014.

“Over half, 52 percent, are actually paying a portion of their refunds back,” Mark Ciaramitaro, Block’s vice president of health care and tax services, said at a presentation in Washington.

These filers are seeing smaller refunds, on average $530 smaller.

 

The change in refunds occurs as taxpayers reconcile their 2014 income with the benefits they received under the Affordable Care Act.

H&R Block said 38 percent of its customers who gained coverage under the act are seeing larger refunds, on average $365 larger, according to returns filed through mid-February.

Thanks to the bump up, their average refund totaled $3,816, Block said. Those who lost part of their refund would have gotten an average of $3,100 back but ended up with about $2,570.

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