This topic has been mentioned in this forum but never really discussed thoroughly.
OBAMACARE AND HRBLOCK
Check out the transcript from the HRB Investor Conference back in December. The company mentions opportunities that Obamacare might make for the company but nothing specific. ONE analyst thinks to ask a question for further information and HRB panelists AVOID RESPONDING TO THE QUESTION.
Why hasn't the company presented any numbers? Presumably X% of the clientele will be on Obamacare. That should translate into X new forms and X increase in revenue.
Sure some variables are still unanswered. Will all states approve expanded Medicaid? Whether FPL is 100% or 138% will have a huge impact on business.
Does the company plan to charge for help given in Nov 2013 to clients who enroll? Will this be an HRB role? Or will the state insurance exchanges be responsible for this (seems highly improbable)? The insurance premiums in many cases will be paid for with refundable, ADVANCED, tax refunds. Someone has to do this paperwork. If HRB is going to make revenue from this in 2013, the company should be disclosing a number. Or will HRB just do it for free?
WHAT'S THE PLAN????
As we see on the commercial...have all tax preparers read the 900 pages of Obamacare? Are tax preparers currently conversant in Obamacare?
If so, maybe someone can explain what happens to a person on Medicaid if they win $20,000 in the lottery. Will they automatically be off Medicaid? Will they need to enroll in an insurance exchange? I can't quite figure this out. Could be so complicated HRB offices will need to be open 24/7/365.
With the comments on this board about the company seeming to drive competent tax preparers away by paying them chump change (views of some), how is HRB going to position itself to take advantage of what may be the great opportunity to gain market share this century. Because Obamacare ain't for the simple-minded...
"Because Obamacare ain't for the simple-minded." I disagree with the lead poster. Only the simple minded would think the Government would do a better job on health care than the private sector. As we learn what is in the Obama care Law and how it will be amended and interrupted ,also what all the thousands of IRS new hires will be doing we will have the proper questions. It will be a grand mess that will take years for the loose ends to shake out.