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Thread: Understating Obamacare

  1. #1

    Default Understating Obamacare

    How is it going to effect us all? Layoffs? Cut hours?
    Effects on companies? I'll admit, I'm kinda clueless.
    I'll do some more research. I thought a good thread could help.
    I'd like to prepare. My family/budget can't take many more suprises.
    Last edited by patriot2008; 11-13-2012 at 08:50 AM.



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  3. #2

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    If you don't have insurance, you're going to be paying over $600 per person in your house hold each year.
    [P]eople of

    [A]merica

    [U]nited for

    [L]iberty



    Quote Originally Posted by jllundqu View Post
    god damn vipers, all of them.

  4. #3
    Member jkr's Avatar
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    we become buisness OWNERS, consultants, and contractors

  5. #4

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    Is this 600.00 per month or year ?

  6. #5

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    can anyone answer this ? it seems 600 a year is cheap , now but 600 month is where it gets scary if your employer does not provide it,, don't see how this can be enforced, no jobs, low hours per week ,,,

  7. #6
    Member Zippyjuan's Avatar
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    Some info on the penalties:
    http://www.businessinsider.com/how-m...lty-tax-2012-7
    As with everything tax-related, there's no simple answer to "How much is the Obamacare penalty tax?" But here are some key points, from FactCheck.org:
    The penalty/tax will be phased in from 2014 to 2016.
    The minimum penalty/tax in 2016 will be $695 per person and up to 3-times that per family. After 2016, these amounts will increase at the rate of inflation.
    The minimum penalty/tax per person will start at $95 in 2014 (and then increase through 2016)
    No family will ever pay more than 3X the per-person penalty, regardless of how many people are in the family.
    The $695 per-person penalty is only for those who make between $9,500 and ~$37,000 per year. If you make less than ~$9.500, you're exempt. If you make more than ~$37,000, your penalty is calculated by the following formula...
    The penalty is 2.5% of any household income above the level at which you are required to file a tax return. That level is currently $9,500 per person and $19,000 per couple. The penalty on any income above that is 2.5%. So the penalty can get expensive quickly if you make a lot of money.
    However, the penalty can never be more than the cost of a "Bronze" heath insurance plan purchased through one of the state "exchanges" that will be created as part of Obamacare. The CBO estimates that these policies will cost $4,500-$5,000 per person and $12,000-$12,500 per family in 2016, with the costs rising thereafter.

    So, basically, you're looking at penalties of approximately the following at the following income levels:
    Less than $9,500 income = $0
    $9,500 - $37,000 income = $695
    $50,000 income = $1,000
    $75,000 income = $1,600
    $100,000 income = $2,250
    $125,000 income = $2,900
    $150,000 income = $3,500
    $175,000 income = $4,100
    $200,000 income = $4,700
    Over $200,000 = The cost of a "bronze" health-insurance plan

    The IRS will collect the penalty-tax, a fact that will no doubt further enrage those who hate Obamacare.

    But here's some more good news for those folks:

    The IRS will not have the power to charge you criminally or seize your assets if you refuse to pay. The IRS will only have the ability to sue you. And the most the IRS can collect from you if it wins the suit is 2X the amount you owe. So if you want to thumb your nose at the penalty-tax, the IRS won't be able to do as much to you as they could if you refused to pay, say, income tax.

    By the way, the following folks will be exempt from the penalty-tax:
    Those who make less than $9,500
    Employees whose employers only offer plans that cost more than 8% of the employee's income
    Those with "hardships"
    Members of Indian tribes
    Members of certain religions that don't pay Social Security tax, such as Amish, Hutterites, or Mennonites


    Read more: http://www.businessinsider.com/how-m...#ixzz2C7j9kvXn
    I am Zippy and I approve of this message. But you don't have to.

  8. #7

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    Just buy insurance when you feel sick. Cancel it when you don't.

  9. #8
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    This is in addition to more "suprises" , tax increases....

  10. #9

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    Paying the 1600 a year in fees, if you even pay it, is much less than what insurance premiums will be. Just wait till you need it, then buy it. Obamacare will collapse on itself.

  11. #10
    Member Odin's Avatar
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    Quote Originally Posted by sluggo View Post
    Just buy insurance when you feel sick. Cancel it when you don't.
    Then you have to pay the fees, that's why they put the mandate in.

  12. #11

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    Quote Originally Posted by Odin View Post
    Then you have to pay the fees, that's why they put the mandate in.
    Right but the fees are significantly less then what the insurance is going to cost. I envision a health insurance agency setting up a tent right outside emergency rooms across America.

    For those who are having employers pay for the health insurance. Us in the real world are getting crushed. My quote for a crappy policy came back the other day at $2400/mo for my family of 4. This past year it was $1100/mo. The numbers I've heard floated around for Obama care are in the $15k per year range. Which in my mind is a deal but I would guess that the VAST majority of the non self employed people don't have a concept of the cost of health insurance today.

  13. #12

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    $9,500 - $37,000 income = $695
    A $695 penalty would crush a person who only makes $10k/year--and nobody here can tell me that the IRS is going to make sure the person knows that they can only sue them for 2x that amount. And if they do sue the person, that'll wipe them out.

  14. #13

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    Just send me to jail... free food and healthcare! lol

    Not a bad deal if you don't mind the cornholing!
    "May the Wings of Liberty never lose a feather..."

    - Jack Burton

  15. #14

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    Quote Originally Posted by jbauer View Post
    For those who are having employers pay for the health insurance. Us in the real world are getting crushed. My quote for a crappy policy came back the other day at $2400/mo for my family of 4. This past year it was $1100/mo.
    You should look into Health Savings Accounts(HSA) with a high deductible policy. The cost has gone up significantly since Obamacare, but you can still find a individual policy for $75 -- family policy should be under $300. The savings goes into a HSA to pay the deductible. Plus, your savings are completely tax free $3,500 per member of your family.

  16. #15
    Member Odin's Avatar
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    Quote Originally Posted by jbauer View Post
    Right but the fees are significantly less then what the insurance is going to cost. I envision a health insurance agency setting up a tent right outside emergency rooms across America.

    For those who are having employers pay for the health insurance. Us in the real world are getting crushed. My quote for a crappy policy came back the other day at $2400/mo for my family of 4. This past year it was $1100/mo. The numbers I've heard floated around for Obama care are in the $15k per year range. Which in my mind is a deal but I would guess that the VAST majority of the non self employed people don't have a concept of the cost of health insurance today.
    Oh I see what you're saying. Why then would the insurance companies support the law though? In the thousands of pages of the law, there must be some sort of attempt to prevent that?

    Are you going to cancel your insurance and pay the fines each year? If a significant number of people chose to do that, the price of insurance plans would skyrocket.

  17. #16

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    Quote Originally Posted by Odin View Post
    Oh I see what you're saying. Why then would the insurance companies support the law though? In the thousands of pages of the law, there must be some sort of attempt to prevent that?

    Are you going to cancel your insurance and pay the fines each year? If a significant number of people chose to do that, the price of insurance plans would skyrocket.
    doubtful. chances are that most people who could afford health insurance now but choose not to buy it, will buy it to avoid the tax ramifications and to avoid being scrutinized and a possible tax audit. that is a huge lump of new people paying into the health insurance system. also, now that the health insurance system is basically nationalized - they probably won't have too much trouble twisting arms for taxpayer 'assistance' for a variety of reasons.

  18. #17

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    Quote Originally Posted by ShaneEnochs View Post
    If you don't have insurance, you're going to be paying over $600 per person in your house hold each year.
    how little do you have to make to avoid that?

  19. #18

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    If you make less than ~$9,500 a year, you're exempt. Otherwise the minimum is $695

  20. #19
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    Two points:

    1. Insurance companies currently bind coverage on certain policies with a pre-existing conditions clauses or with waiting periods (think life insurance). I don't see why this wouldn't come into play here. You can buy insurance on the way to the hospital, but it won't kick in for 30 days. It won't help you.

    2. While you can just not pay, and get "sued," the thing to remember is that there's a good chunk of the lower and middle class folks who seem to be unable to do things without having a refund in the spring. I would assume they will not pay you your refund if you owe the mandate.
    May the wings of liberty never lose a feather.

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    That is how they plan to collect it , from tax refunds , so , you should make sure you do not have one .

  22. #21
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    I like to think of it as Obummercare , no way you can call it " affordable " whatever bullshit act with a straight face . There is no person in America that will not be fucked by this, most, are too stupid to understand , I no longer have sympathy for the stupid. I will not participate, or pay a fine.

  23. #22

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    Quote Originally Posted by patriot2008 View Post
    If you make less than ~$9,500 a year, you're exempt. Otherwise the minimum is $695
    does that mean people who make close to 12,000 will voluntarily take a pay cut down to $9500 to avoid the $700 fee?

  24. #23

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    this will help me
    We'll know our disinformation program is complete when everything the American public believes is false. -- William Casey, CIA Director

    Get your facts first, then you can distort them as you please.-- Mark Twain

    When people like us-- the scum of society-- don't risk our lives when a rare chance comes our way, we become losers at that moment. So courage is the only thing we can rely on.-- Anchan

  25. #24

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    burp
    Last edited by squarepusher; 11-15-2012 at 03:56 AM. Reason: double post
    We'll know our disinformation program is complete when everything the American public believes is false. -- William Casey, CIA Director

    Get your facts first, then you can distort them as you please.-- Mark Twain

    When people like us-- the scum of society-- don't risk our lives when a rare chance comes our way, we become losers at that moment. So courage is the only thing we can rely on.-- Anchan

  26. #25

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    A lot of people have called me here have called me a libtard because I am pro-union.
    Well, right after I graduated, I got hired for a non profit. I was told it only was for causes, not politicians.
    When I came into the office, I saw a newspaper article framed, about how they helped get Obamacare passed.
    Not good.
    Long story short, 1 hour into training, I got into an argument with the hippy dipshit training me about both obamacare and Libya.
    Yes, I once had a career that lasted one hour.
    Last edited by UWDude; 11-15-2012 at 04:04 AM.





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