Thread: Do you support Obama Care ?

IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family
January 31, 2013

(CNSNews.com) – In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year. http://www.irs.gov/PUP/newsroom/REG-148500-12%20FR.pdf

Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.

The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.

The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.

“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.

In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.

To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.

In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.

Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.

For those wondering how clear the IRS's clarifications of this new "penalty" rule are, here is one of the actual examples the IRS gives:

“Example 3. Family without minimum essential coverage.

"(i) In 2016, Taxpayers H and J are married and file a joint return. H and J have three children: K, age 21, L, age 15, and M, age 10. No member of the family has minimum essential coverage for any month in 2016. H and J’s household income is $120,000. H and J’s applicable filing threshold is $24,000. The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000.

"(ii) For each month in 2016, under paragraphs (b)(2)(ii) and (b)(2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,780 and $2,085 ($695 x 3)). Under paragraph (b)(3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph (b)(1) of this section, the monthly penalty amount is $200 (the greater of $173.75 ($2,085/12) or $200 ($2,400/12)).

"(iii) The sum of the monthly penalty amounts is $2,400 ($200 x 12). The sum of the monthly national average bronze plan premiums is $20,000 ($20,000/12 x 12). Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on H and J for 2016 is $2,400 (the lesser of $2,400 or $20,000).”

http://cnsnews.com/news/article/irs-...e-20000-family

Originally Posted by okie

Has anyone heard what will happen when you can't afford the insurance or the tax(I'm sorry, penalty)? I guess we all go to jail or don't get healthcare anymore?

If Nanny gov deems that you can't afford it, it's free and you get an obamaphone.

....you have person A who works for a company/government where you get benefits such as a retirement plan, health insurance etc these bonuses are not included in your salary. Now take person B who has to pay for their own health insurance, has no retirement except social security. Lets say they each make $100000 base pay ....*snip*

Boopster, the flaw in that is that not all jobs and employers are created equal. Government jobs are generally known to be salaried less than the same position in the private sector but the government employee takes into consideration retirement & benefits upon accepting employment.

There are exceptions....for someone in the lower positions in government who is NOT very marketable in the private sector...they make out very well with benefits, retirement and salary. Think clerk vs McDonalds. Now, for a high government position, it's usually reversed.....the salary is lower than comparative private sector but has retirement, job security & benefits....the private sector has a much higher salary, usually a bonus, more than likely health benefits, and probably NOT retirement nor job security. Traditionally, there have always been trade-offs working in the government vs private sector for the same job.

One must compare the same job, same degree, qualifications, etc....not just the same salary amounts.

But I agree:

Obamacare is just another governmental way of saying "do as I say not as I do".

CBO: Obamacare will push 7 million people out of job-based health coverage
By Doug Powers • February 6, 2013 11:14 AM

“If you like your doctor, you can keep your doctor…” http://youtu.be/1LRcLMScEqo

The end of that sentence, which was something like “…forever in your memory,” was conveniently edited out.

From the Washington Times: http://www.washingtontimes.com/blog/...ost-7-million/

President Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.

CBO said that this year’s tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they’ll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.

Obama, Pelosi and Reid love it when a plan comes together. http://s.michellemalkin.com/wp/wp-co...pelosireid.bmp



Don’t worry though, because thanks to the Affordable Care Act, if you lose your employer-provided coverage you can pick up the lowest level government family plan for around 20 grand a year. http://michellemalkin.com/2013/02/01/obamacare-savings/

The CBO also predicted that by 2023 — well into Joe Biden’s second presidential term — the national debt will be $26 trillion. To put $26 trillion into perspective, a decade from now, that will probably be enough money to pay the Obamacare premium for three families. http://www.reuters.com/article/2013/...9140ZQ20130205


**Written by Doug Powers http://michellemalkin.com/2013/02/06/cbo-obamacare-2/

comments

I’ve said it before, but…

Obamacare is all about transitioning people from healthcare that is based upon their ability to pay to healthcare based upon their value to the government.

From citizens to subjects…

...

“The individual mandate is not a tax.”

“You can keep your doctor.”

“I’m a ‘post-partisan unifier.’”

“The check is in the mail.”

..

Still waiting for our resident trolls to defend this……

We were lied to on so many levels you can’t keep track without a scorecard.


..

Also waiting for the final linking of current policies: If you do not comply with Oblahblahcare you are anti-Oblahblah, therefore you are a terrorist, therefore you can be targeted by a drone and killed, reducing the cost to the healthcare system and ensuring others will “voluntarily” comply with the healthcare mandates. Your death becomes a win-win for the government, and to paraphrase Hillary: What does it matter why he doesn’t like Oblahblahcare, we have a dead American here, we need to move on and get everyone into Oblahblahcare before someone else dies!

..

Here is a little bit more info:

“According to projections from the Congressional Budget Office (CBO), entitlements and ObamaCare spending will comprise 53 percent of all federal spending over the coming decade, totaling $24.9 trillion. In its updated Budget and Economic Outlook report released on Tuesday, the CBO projects that Social Security will account for $11.149 trillion in spending from 2014 to 2023 while federal health care entitlements, including Medicare, Medicaid, and ObamaCare, will spend $13.85 trillion.”

Now where is the money going to come from?? Thats right folks, don’t touch that dial because its going to come from the Federal Obama Stash.