O-Care subsidy calculations accurate last October, audit finds

The Internal Revenue Service (IRS) might have a better track record in determining ObamaCare premium subsidies than previously thought, a new audit suggests.

A government investigation released Tuesday found that the agency was 100 percent accurate in calculating the maximum monthly subsidy for all requests in the first two weeks of October.

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While the report did not track activity throughout ObamaCare's first enrollment period, it hints that reports of more than 1 million incorrect subsidy determinations may overstate the problem.

The investigation was released by the Treasury Department's Inspector General for Tax Administration (TIGTA).

The report follows a separate audit by the Government Accountability Office revealing that investigators were able to procure subsidized health plans for fake applicants on the exchanges.

That finding spurred significant criticism of the IRS on Capitol Hill.

TIGTA Inspector General J. Russell George sought to counter these rebukes on Monday.

In a statement, he noted that the IRS accurately verified income and family size in 99.9 percent of cases during the same October interval according to his audit. 

"In nearly all instances, the IRS correctly provided accurate information to the health exchanges on income and family sizes,” George said.

"Accurate information is essential for an exchange to determine if an applicant is eligible to obtain insurance coverage through the exchange."

Thirty-three requests to verify information were not completed accurately due to a computer glitch, the report stated.