Obamacare Sticker Shock

[Cruella]

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 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.

Federal Rule Limits Aid to Families Who Can’t Afford Employers’ Health Coverage

The Obama administration adopted a strict definition of affordable health insurance on Wednesday that will deny federal financial assistance to millions of Americans with modest incomes who cannot afford family coverage offered by employers.

In deciding whether an employer’s health plan is affordable, the Internal Revenue Service said it would look at the cost of coverage only for an individual employee, not for a family. Family coverage might be prohibitively expensive, but federal subsidies would not be available to help buy insurance for children in the family.

 

[dogtowner]

Wasnt that the level of Cadillac policies the feds wanted to nail with additional taxes ?

 

[Cruella]

Wasnt that the level of Cadillac policies the feds wanted to nail with additional taxes ?

No. I think the Cadillac was $27k for a family and employer paid. They would charge a 40% surcharge to the employer and or insurance company.

 

[dogtowner]

No. I think the Cadillac was $27k for a family and employer paid. They would charge a 40% surcharge to the employer and or insurance company.

not far off the mark and this is the crappiest policy. We all knew it would be obscenely expensive but this is jarring.u

 

[Cruella]

not far off the mark and this is the crappiest policy. We all knew it would be obscenely expensive but this is jarring.u

I don't see how it can work. How many families can afford $20k for insurance? Seems like most of them would have to go without the insurance and just pay the $2,000 fine.

 

[dogtowner]

I don't see how it can work. How many families can afford $20k for insurance? Seems like most of them would have to go without the insurance and just pay the $2,000 fine.

bingo.
but the tax payer (you know, those people who can't afford the insurance among others) will have to pay the tab for po folks.
isnt this playing out exactly as predicted ?

 

[Cruella]

bingo.
but the tax payer (you know, those people who can't afford the insurance among others) will have to pay the tab for po folks.
isnt this playing out exactly as predicted ?

I have no idea. It all seems so convoluted. You can either pay the $2000 fine or buy the insurance for $20k. It's a stupid choice, unless there is more to the equation than what the IRS stated. So if you "choose" to just pay the fine, then what happens when you get sick? Who pays for that?

 

[dogtowner]

I have no idea. It all seems so convoluted. You can either pay the $2000 fine or buy the insurance for $20k. It's a stupid choice, unless there is more to the equation than what the IRS stated. So if you "choose" to just pay the fine, then what happens when you get sick? Who pays for that?

you. or just go to the ER. the more things change the more they stay the same.