bonnie Posted February 1, 2013 Posted February 1, 2013 To bad voters didn't read this before it was laughingly voted on IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family January 31, 2013 By Matt Cover Barack Obama, Kathleen Sebelius, Nancy Pelosi President Barack Obama hugs HHS Secretary Kathleen Sebelius and then-House Speaker Nancy Pelosi after signing the Obamacare law on March 23, 2010. (White House photo/Pete Souza) (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. 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 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 ((2)(ii) and ((2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph ((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 ((3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph ((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).” Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman
Ted Oplinger Posted February 4, 2013 Posted February 4, 2013 And the poorest of us can afford that?? No wonder so many thousands are opting to simply pay the $95 fine and be done with it. Blessings, Quote "As iron sharpens iron, so also does one man sharpen another" - Proverbs 27:17 "The offense of the cross is that the cross is a confession of human frailty and sin and of inability to do any good thing. To take the cross of Christ means to depend solely on Him for everything, and this is the abasement of all human pride. Men love to fancy themselves independent. But let the cross be preached, let it be made known that in man dwells no good thing and that all must be received as a gift, and straightway someone is offended." Ellet J. Waggoner, The Glad Tidings "Courage is being scared to death - and saddling up anyway" - John Wayne "The person who pays an ounce of principle for a pound of popularity gets badly cheated" - Ronald Reagan
joeb Posted February 4, 2013 Posted February 4, 2013 And the poorest of us can afford that?? No wonder so many thousands are opting to simply pay the $95 fine and be done with it. Blessings, The effects of Obamacare are already being felt in rising prescription prices. The cost of my prescriptions have either doubled or tripled, or more, depending on the prescription in question. What used to be a $4 prescription at Walmart is now $20. What was a $20 prescription is now $87. Thanks so much, Obama, for reducing my medical bills, you liar. Quote Liberty cannot be established without morality, nor morality without faith.Alexis de Tocqueville
bonnie Posted February 4, 2013 Author Posted February 4, 2013 The effects of Obamacare are already being felt in rising prescription prices. The cost of my prescriptions have either doubled or tripled, or more, depending on the prescription in question. What used to be a $4 prescription at Walmart is now $20. What was a $20 prescription is now $87. Thanks so much, Obama, for reducing my medical bills, you liar. Many of us are having a hard time with the medical savings the obama admin has given us. Our supplemental insurance went up for my husband and I by over 20.00 per policy.Prescription D went up as well as medicare. Nice that senior citizens can help pay for those 20? year olds so they can stay on daddy's insurance. An explanation was sent out from my senior insurance support link explaining why we are saving so "much" Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman
joeb Posted February 4, 2013 Posted February 4, 2013 Many of us are having a hard time with the medical savings the obama admin has given us. Our supplemental insurance went up for my husband and I by over 20.00 per policy.Prescription D went up as well as medicare. Nice that senior citizens can help pay for those 20? year olds so they can stay on daddy's insurance. An explanation was sent out from my senior insurance support link explaining why we are saving so "much" And this is just the beginning of the increases in costs. Just wait until this thing is fully implemented. There are going to be a whole bunch of Democrats crying foul over this when all is said and done, but by then it will be far to late to back out of this. Quote Liberty cannot be established without morality, nor morality without faith.Alexis de Tocqueville
OzarkWoman Posted February 4, 2013 Posted February 4, 2013 I just don't understand how anyone in their right mind fell for his lies about this healthcare [censored]? Come on, let's be honest...the people that wanted this healthcare just wanted another freebie. Quote
bonnie Posted February 4, 2013 Author Posted February 4, 2013 I just don't understand how anyone in their right mind fell for his lies about this healthcare [censored]? Come on, let's be honest...the people that wanted this healthcare just wanted another freebie. Yup,and those in certain income groups will be receiving medical coverage compliments of those that work Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman
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