Even More Obamacare Follies

#11
#11
A couple of paragraphs from the article:
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

This whole fiasco is a ridiculous piece of crap. I can purchase coverage for 20K. Or, I can pay a penalty of 2K. Gee, I wonder which choice I will make???

Oh wait, how can it be a penalty based on the Supreme Court's language in their ruling last year? And it certainly can't be a tax because the administration told us it wasn't a tax.

I hate this law. I love the fact that this stinking pile of excrement is hanging around the democrat's neck for all eternity. They ran every branch when this was passed and this is their baby.
 
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#12
#12
McDad said:
A couple of paragraphs from the article:
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

This whole fiasco is a ridiculous piece of crap. I can purchase coverage for 20K. Or, I can pay a penalty of 2K. Gee, I wonder which choice I will make???

Oh wait, how can it be a penalty based on the Supreme Court's language in their ruling last year? And it certainly can't be a tax because the administration told us it wasn't a tax.

I hate this law. I love the fact that this stinking pile of excrement is hanging around the democrat's neck for all eternity. They ran every branch when this was passed and this is their baby.
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It wasn't a tax.......until it was a tax.
 
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#14
#14
McDad said:
A couple of paragraphs from the article:
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

This whole fiasco is a ridiculous piece of crap. I can purchase coverage for 20K. Or, I can pay a penalty of 2K. Gee, I wonder which choice I will make???

Oh wait, how can it be a penalty based on the Supreme Court's language in their ruling last year? And it certainly can't be a tax because the administration told us it wasn't a tax.

I hate this law. I love the fact that this stinking pile of excrement is hanging around the democrat's neck for all eternity. They ran every branch when this was passed and this is their baby.
Click to expand...

I posted this question in the IRS in charge of ACA thread, but wouldn't that family have to pay those costs up front before they received their tax break? Even more reason to just pay the penalty.
 
#15
#15
Is the $20k number a farce? Will these be subsidized for most people who don't already have company insurance?
 
#16
#16
YorkVol said:
I posted this question in the IRS in charge of ACA thread, but wouldn't that family have to pay those costs up front before they received their tax break? Even more reason to just pay the penalty.
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The IRS might send the insurance companies a check directly on estimated returns? If the gov't starts mailing out $10k and above tax credits to those who would qualify, how many would actually send it to the insurance company once they see the check?

It will be like Christmas without direct payments much like the earned income tax credit is now.
 
#17
#17
Weezy said:
Is the $20k number a farce? Will these be subsidized for most people who don't already have company insurance?
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This number was quoted from the IRS who is overseeing. I doubt it is farcical.
 
#18
#18
hog88 said:
The IRS might send the insurance companies a check directly on estimated returns? If the gov't starts mailing out $10k and above tax credits to those who would qualify, how many would actually send it to the insurance company once they see the check?

It will be like Christmas without direct payments much like the earned income tax credit is now.
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It is a tax credit similar to the Child Care Tax Credit as far as I can tell. When we got the child care tax credit we had to pay the day care center whatever the cost, then we were able to reduce our taxes by the amount of the credit. I think it has to apply the same way. I can't see the IRS mailing out checks to insurance companies.
 
#19
#19
YorkVol said:
It is a tax credit similar to the Child Care Tax Credit as far as I can tell. When we got the child care tax credit we had to pay the day care center whatever the cost, then we were able to reduce our taxes by the amount of the credit. I think it has to apply the same way. I can't see the IRS mailing out checks to insurance companies.
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I can't see low income families paying these premiums and waiting until tax time to get the money back. It would wreck them.
 
#20
#20
YorkVol said:
It is a tax credit similar to the Child Care Tax Credit as far as I can tell. When we got the child care tax credit we had to pay the day care center whatever the cost, then we were able to reduce our taxes by the amount of the credit. I think it has to apply the same way. I can't see the IRS mailing out checks to insurance companies.
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Not arguing with you with this reply; I just don't understand how this is supposed to work.

Child care expense is small in comparison, isn't it? How can most people pay out the $1700 per month for 12 months and then recoup that amount as a tax break?

I think this is set up to "force" people into the penalty.
 
#21
#21
hog88 said:
I can't see low income families paying these premiums and waiting until tax time to get the money back. It would wreck them.
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McDad said:
Not arguing with you with this reply; I just don't understand how this is supposed to work.

Child care expense is small in comparison, isn't it? How can most people pay out the $1700 per month for 12 months and then recoup that amount as a tax break?

I think this is set up to "force" people into the penalty.
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You both made my point, it is too expensive, regardless of how much the tax credit may end up being.

We have coverage at work but the company doesn't pay into it hardly at all. Cost for a family is about $550 per month and that comes with a $30 dollar co-pay per visit and either $15 or $25 co-pay for 30 days of meds. The plan allows only 10 doctor's visits per year and in-patient costs are astronomical. I would equate this with the bronze plan in the ACA. Which means I expect most around here to drop coverage and take the penalty.
 
#22
#22
YorkVol said:
You both made my point, it is too expensive, regardless of how much the tax credit may end up being.

We have coverage at work but the company doesn't pay into it hardly at all. Cost for a family is about $550 per month and that comes with a $30 dollar co-pay per visit and either $15 or $25 co-pay for 30 days of meds. The plan allows only 10 doctor's visits per year and in-patient costs are astronomical. I would equate this with the bronze plan in the ACA. Which means I expect most around here to drop coverage and take the penalty.
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Most of us will have to take it. And all of us would be foolish to pay out 20K compared to 2K.

Side note: This has got so many individual doctors and facilities scared to death. I know a couple MDs who are planning on taking an early retirement and will focus on mission work in other countries. Also know of others who have gone back to school for other careers. Sadly, a good friend who has worked at our local hospital for 25 years is being forced to the night shift in an effort to encourage him to quit so that the hospital can try to save $. The hospital is in serious scramble mode right now.

Everyone I know who still treats patients is praying for this thing to be repealed or unfunded.
 
#23
#23
McDad said:
Most of us will have to take it. And all of us would be foolish to pay out 20K compared to 2K.

Side note: This has got so many individual doctors and facilities scared to death. I know a couple MDs who are planning on taking an early retirement and will focus on mission work in other countries. Also know of others who have gone back to school for other careers. Sadly, a good friend who has worked at our local hospital for 25 years is being forced to the night shift in an effort to encourage him to quit so that the hospital can try to save $. The hospital is in serious scramble mode right now.

Everyone I know who still treats patients is praying for this thing to be repealed or unfunded.
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There is the rub.

Most upper middle class families with assets to lose for catastrophic medical event will pay for the insurance and recieve little to no subsidies.

Those without assets, who currently don't have insurance will not spend the money, so the program fails.
 
#24
#24
hog88 said:
There is the rub.

Most upper middle class families with assets to lose for catastrophic medical event will pay for the insurance and recieve little to no subsidies.

Those without assets, who currently don't have insurance will not spend the money, so the program fails.
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Am I reading you correctly? If I have assests like a home, or rental property, and I pay the penalty, my assets will be confiscated????
 
#25
#25
McDad said:
Am I reading you correctly? If I have assests like a home, or rental property, and I pay the penalty, my assets will be confiscated????
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No. I'm saying a person/family with assets will purchase insurance even without subsidies/credits, to protect theirselves and assets.
 
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