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Obama care, IRS reveals cheapest plan....

Discussion in 'Topical Discussions (In Depth)' started by 917601, Jan 31, 2013.



  1. 917601

    917601 Mother Lode Found Mother Lode

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    http://www.irs.gov/PUP/newsroom/REG-148500-12 FR.pdf

    IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family...

    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 of five 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 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:....

    http://cnsnews.com/news/article/irs-cheapest-obamacare-plan-will-be-20000-family
     
    EO 11110 likes this.
  2. EO 11110

    EO 11110 He Hate Me Mother Lode

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    i now know when i'll be 'retiring' from wages
     
  3. samwiii

    samwiii Gold Member Gold Chaser

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    Looks like we're gonna need a "Zinc" plan if anybody's going to be able to actually afford insurance under Obamacare.
     
    Fiat Metaler likes this.
  4. earplugs

    earplugs Gold Member Gold Chaser

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    so are they going to phase out catastrophic health care plans? I play <80 dollars a month for a family health plan. I don't see how so many people pay 400 bux/mth for a family health plan just to see a doctor for 20 co-pay.
     
  5. Ishkabibble

    Ishkabibble Gold Member Gold Chaser

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    $60 a month in Canada, one person. Unlimited coverage, though non-emergency service can be a little slower. For a family of four, I think it's about $150/mo.

    Just an observation here; the cost of your O'crappycare is more than the cost of a foreign laborer for an entire year. This legislation prices US people out of the jobs market. Rules like this force people to be grey market or black market employees. It leaves no room for the honest economy.
     
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  6. TnAndy

    TnAndy retired guy Midas Member

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    Interesting. The average family income in our area is something in the mid 30 range. Wonder how they expect them to spend more than half of it on health insurance.
     
  7. oldgaranddad

    oldgaranddad Gold Member Gold Chaser

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    I think I can only afford the Plastic Plan.
     
  8. Fiat Metaler

    Fiat Metaler Gold Member Gold Chaser

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    minimum coverage is more expensive because its required to include gender reassignment surgery and a bunch of other nonsense.
     
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  9. CiscoKid

    CiscoKid They all look good through beer goggles... Gold Chaser

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    This is clearly all Bush's fault.
     
  10. MisterNatural

    MisterNatural Seeker Seeker

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    They won't have to, the government will subsidize them which means the rest of us middle class idiots will pay for it.

    Thanks for giving me this opportunity to chip in and help out Mr. President...makes me feel all warm and fuzzy inside.
     

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