Affordable Care Act Requires Americans Take a More Active Role in Health Care Decisions

  Affordable Care Act Requires Americans Take a More Active Role in Health
  Care Decisions

   TurboTax offers free online tool to help people understand impact of new
                              health care reform

Business Wire

SAN DIEGO -- March 29, 2013

In a series of nationwide focus groups conducted by Intuit TurboTax®, a
majority of consumers who participated lacked awareness of their new health
insurance options under the Affordable Care Act, sometimes referred to as
“Obamacare”. In addition, a most of them did not know if they would qualify
for financial assistance to help cover the cost of health insurance.

In October 2013, federal and state Health Insurance Marketplaces are scheduled
to open and an estimated 30 million uninsured Americans will need to make
healthcare decisions that will impact both their personal and financial well

TurboTax now provides a simple, free online health care calculator, available
on the TurboTax Blog, that helps people understand whether they may be
eligible to purchase insurance through the new Marketplaces and if they
qualify for financial assistance.

“Consumers who take a more active role in their healthcare decisions get the
best outcome for both their health and their wallet,” explains Jane
Sarasohn-Kahn, Health Economist ( and Advisor to the
American Tax & Financial Center at TurboTax. “We encourage Americans to be
engaged in their healthcare decisions starting now. Research shows that
Americans spend much more time researching the purchase of an automobile
compared with seeking information on picking their personal physician. Isn’t
it worth investing a few hours over the next few months to get the best health
care for you and your family?”

Balancing care and out of pocket expenses

The need to engage now in healthcare is especially critical for individuals
and families who will fund health insurance through a combination of
government subsidy (delivered as a tax credit starting in 2015) and monthly
out of pocket expenses.

Based on analysis by the American Tax & Financial Center at TurboTax, a family
of four earning roughly $50,000 would be eligible for an estimated $7,500
subsidy beginning in 2014, which would cover approximately 70 percent of their
insurance premium. In this case, the family would be responsible for paying
the remaining monthly premium of approximately $282 per month.

“The majority of families need to understand this will likely impact their
monthly budget in some way,” added Sarasohn-Kahn. “U.S. consumers need to take
on the role of 'health consumers' as they assume more responsibilities for
choosing health plans based on the level of services covered by a health plan
compared to the costs of the premiums and copayments under the different plans
being considered.”

For the estimated 40 percent of households living paycheck-to-paycheck, the
additional monthly payment for healthcare may seem out of reach. However,
families will need to weigh the benefits of preventive care, and the potential
costs of emergencies and existing chronic conditions managed by people in
their families. In 2010, the average cost of an emergency room visit was

While implementations of the new health care law don’t begin until October,
this is a good time to start understanding it and preparing. For more
information on the Affordable Care Act and its financial impact, visit the
American Tax & Financial Center at TurboTax.

About The American Tax & Financial Center at TurboTax

Established in November 2012, The American Tax & Financial Center at TurboTax
provides objective and independent data and insights on tax and personal
finance trends. The Tax Center is now available to provide taxpayers,
policymakers and media with resources and expert commentary on the impact of
taxes on U.S. consumers.

The center’s primary goal is to help Americans in understanding financial
matters so they can make informed financial decisions. The center educates and
advocates for individuals by helping them take ownership of their financial
future. For more information, visit The American Tax & Financial Center at

About TurboTax

TurboTax is the nation’s No. 1 rated, best-selling, do-it-yourselftax
preparation software. Available on desktop, online and mobile, TurboTax helped
more than 25 million people last year keep more of their hard-earned money.
For more information, visit theTurboTax press room,like us on Facebook,follow us on Twitter,or
visit our blog, Tax Break: The TurboTax Blog,

About Intuit

Intuit a leading provider of business and financial management
solutions for small and mid-sized businesses; financial institutions,
including banks and credit unions; consumers and accounting professionals. Its
flagship products and services, includingQuickBooks®,Quicken® andTurboTax®,
simplifysmall business managementandpayroll processing,personal finance,
andtax preparation and filing.ProSeries® andLacerte® are Intuit's leading
tax preparation offerings for professional accountants.Intuit Financial
Serviceshelps banks and credit unions grow by providing on-demand solutions
and services that make it easier for consumers and businesses tomanage their

Founded in 1983, Intuit had annual revenue of $4.15 billion in its fiscal year
2012. The company has approximately 8,500 employees with major offices in
theUnited States, Canada, theUnited Kingdom,Indiaand other locations. More
information can be found

Intuit, the Intuit logo and TurboTax, among others, are registered trademarks
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