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Obamacare average $20K per family!


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#1    F3SS

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Posted 02 February 2013 - 12:33 AM

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http://www.theblaze....000-per-family/
SURPRISE! IRS CALCULATES CHEAPEST ‘OBAMACARE’ PLAN WILL AVERAGE $20,000 PER FAMILY

When the Obama White House and Congress passed The Patient Protection and Affordable Care Act (i.e. “Obamacare”), we clearly recall being told that the bill would save Americans money.

Yet, as CNSNews.com reports, the Internal Revenue Service (IRS) in a regulation issued Wednesday “assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.”

Wait, what?

Yes, while explaining the penalty for not purchasing government insurance, the IRS calculates that the average annual cost for a family will be at about $20,000.

“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,” CNSNews.com reports.

“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 report adds.

Wait a minute. What is the exact language of the IRS regulation?

“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation states.

Oh.

“Bronze will be the lowest tier health-insurance plan available under Obamacare — after Silver, Gold, and Platinum,” CNS explains. “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 rules published Wednesday, the IRS also made law the regulations regarding the fines and penalties incurred if someone chooses not to buy the insurance. And in an attempt to explain these laws, the agency draws up a few examples.

“[T]he 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,” CNS notes.

“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,” the report adds.

And just in case you were wondering how convoluted and contrived these new regulations look like, here’s the exact language from the IRS:

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)


A nice sized family with a decent income. $120k gross minus taxes puts them around $85-$90k take home pay minus $20k to Obamas dream leaves them at $65-$70k left. Wow, talk about inhibiting success. An automatic $50k goes right to the government not to mention sales taxes, gas taxes, all the taxes associated with monthly bills. You're crazy to think this is what the people wanted. Screw this socialist nightmare. This is beyond shared responsibility and certainly isn't affordable. It's a train wreck and after the insurance companies are sunk there'll be one place left to go.
At best your out an automatic $2000-$2400 just for a fine. Everyone is going to take the penalty. I say we don't take it at all. What are they going to do if we all give them a big middle finger. When the tax refunds so many are used to turn into unexpected tax payments I guarantee the fingers will be flying even amongst the most staunch Obama supporters. What a fiasco. Thanks a lot.

Edit: lol, all those smileys at the end must be the text symbol used for them. The IRS language used a lot of 'B's' in parentheses. Check the original source if it confuses you. It means paragraph B. I ain't gonna edit.

Edited by -Mr_Fess-, 02 February 2013 - 12:37 AM.

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#2    F3SS

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Posted 02 February 2013 - 12:54 AM

Geez. Was just thinking that $20,000 is the minimum cost for a plan no matter what your income. What are people supposed to do? Oh yea, get government assistance.

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#3    F3SS

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Posted 02 February 2013 - 12:55 AM

Sounds like a cue for population control. Who's gonna want to have kids at a cost like this?

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#4    AsteroidX

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Posted 02 February 2013 - 12:58 AM

Because there counting on employer based insurance which will come directly out of your paycheck. You will then get reimbursed at tax time for any subsidies. Thats how I see them getting away with it. Employers are mandated to provide insurance thus passing the cost directly onto the worker.

If you want to work youll be paying the health insurance tax.


#5    and then

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Posted 02 February 2013 - 12:59 AM

But...we're from the government, and we're just here to help!

  Imagination is the power in the turn of a phrase.

#6    F3SS

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Posted 02 February 2013 - 01:02 AM

View PostAsteroidX, on 02 February 2013 - 12:58 AM, said:

Because there counting on employer based insurance which will come directly out of your paycheck. You will then get reimbursed at tax time for any subsidies. Thats how I see them getting away with it. Employers are mandated to provide insurance thus passing the cost directly onto the worker.

If you want to work youll be paying the health insurance tax.
Not necessarily. The mandate for employer coverage is 50+ employees. Employers with less need only offer coverage as a perk. The fine for those with more than 50 is like $3k per uncovered employee I think. Far cheaper than providing coverage. I only have 5 employees. I can't offer coverage, yet if ever. So many employers will be dropping coverage, firing people and downsizing to be below 50 and the others simply won't have to offer. Seems to me like a lot of honest hardworking citizens are going to be SOL with only the government to turn to.
Either way, you're right about the last sentence though.

Edited by -Mr_Fess-, 02 February 2013 - 01:02 AM.

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#7    AsteroidX

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Posted 02 February 2013 - 01:03 AM

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Not necessarily. The mandate for employer coverage is 50+ employees. Employers with less need only offer coverage as a perk. The fine for those with more than 50 is like $3k per uncovered employee I think. Far cheaper than providing coverage. I only have 5 employees. I can't offer coverage, yet if ever. So many employers will be dropping coverage, firing people and downsizing to be below 50 and the others simply won't have to offer. Seems to me like a lot of honest hardworking citizens are going to be SOL with only the government to turn to.

Thank you for finishing my thought for me. Thats exactly how it goes.

For me in my 40's Healthcare costs at the most 1k a year without insurance. Im not getting onboard this trainwreck you can bet on that.

Edited by AsteroidX, 02 February 2013 - 01:05 AM.


#8    docyabut2

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Posted 02 February 2013 - 02:15 AM

Well I `m old school people helping people, all the government going to do is put people in more debt for the Obama health care that most are not going be able to afford and more are going to be losing their jobs.Just turning this country into  bigger welfare state.


#9    Simbi Laveau

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Posted 02 February 2013 - 02:19 AM

Now we can impeach him,because it becomes more and more clear that its just a money making scheme .
Natural news went off on this last night . The info here is theirs I believe.
The also note that doctor and drug mistakes,kill 2000% more people yearly,than guns.
*chuckles.*

Let me find the link

La~
http://www.naturalne...ce_mandate.html

Edited by Simbi Laveau, 02 February 2013 - 02:21 AM.

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#10    Uncle Sam

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Posted 02 February 2013 - 03:31 AM

This is tyrant actions here, forcing the will on the people instead of giving them a choice. Obama has crossed the line.

A man's ethical behaviour should be based effectually on sympathy, education, and social ties and needs; no religious basis is necessary. Man would indeed be in a poor way if he had to be restrained by fear of punishment and hope of reward after death. - Albert Einstein

#11    Gromdor

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Posted 02 February 2013 - 04:11 AM

If I read the article correctly, it said that the IRS is figuring that a family of 5 will cost $20,000 in health insurance in 2016 and they are using that number to determine the fine.  Unless I am mistaken, Obamacare doesn't actually sell insurance to people and that price is what it is figuring insurance companies are going to charge.  And considering I pay 10k a year now for my family plan and 4k 10 years ago, I can see that 20k number being true in 2016 with or without Obamacare.  Remember that the whole cause of Obamacare was skyrocketing health care costs.


#12    AsteroidX

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Posted 02 February 2013 - 05:35 AM

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If I read the article correctly, it said that the IRS is figuring that a family of 5 will cost $20,000 in health insurance in 2016 and they are using that number to determine the fine.  Unless I am mistaken, Obamacare doesn't actually sell insurance to people and that price is what it is figuring insurance companies are going to charge.  And considering I pay 10k a year now for my family plan and 4k 10 years ago, I can see that 20k number being true in 2016 with or without Obamacare.  Remember that the whole cause of Obamacare was skyrocketing health care costs.

That is just all bad news IMO. Wages are not competitive with those cost increases. Has health care improved that much it deserves a raise in cost ?


#13    F3SS

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Posted 02 February 2013 - 05:36 AM

View PostGromdor, on 02 February 2013 - 04:11 AM, said:

Remember that the whole cause of Obamacare was skyrocketing health care costs.
Fair enough but remember this is really called the Affordable Care Act and was sold as such. It's a big damn lie. Not that I fell for it.

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#14    Babe Ruth

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Posted 02 February 2013 - 02:12 PM

No surprise here.  Dennis Kucinich and Wendell Potter both predicted this as the outcome--huge increase in business for the insurance industry.

At that demonstrates clearly that Obama is no socialist, he's fascist, bringing out change that fattens the bottom line for a variety of industries.


#15    Stellar

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Posted 02 February 2013 - 02:51 PM

View PostUncle Sam, on 02 February 2013 - 03:31 AM, said:

This is tyrant actions here, forcing the will on the people instead of giving them a choice. Obama has crossed the line.

If I had a dollar for every time I heard this.

Do something about it then (and no, I'm not talking about taking a gun and shooting up the government).

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