Skip to comments.Virginia Obamacare Subsidies Available To 400% Of Poverty Level And 2x Median Income!
Posted on 10/02/2013 5:30:57 PM PDT by whitedog57
Obamacare is off to a rocky start. Lets use the Commonwealth of Virginia as an example.
Using the Kaiser Family Foundation calculator, I used a family of 5 with two adults (40 and 41 years old) and 3 children living in Fairfax, Virginia. I varied the annual salary by increments of $10,000 up to $120,000.
The annual premium for healthcare would be $11,451 in 2014. And here is the healthcare subsidy calculator.
Under $30,000, you receive no Obamacare subsidies, probably because you pay NOTHING for healthcare!!!!
AND you receive a Federal healthcare subsidy all the way up to 400% of the poverty limit!
In 2011, the median household income for Virginia was $61,882. So, Obamacare gives you a healthcare subsidy up to TWICE median household income!
State differently, everyone making OVER $120,000 a year pays for those making less $120,000. Talk about a blatant transfer of wealth.
Not only will this be extraordinarily expensive, but it is a blatant attempt to buy votes.
Aren’t these tax credits and subsidies illegally created by the IRS? I think there’s an investigation and/or law suite about that.
These subsidies are going to be just like the subsidies to “green power” generators around the world.
They’ll last long enough to get people hooked. Then it will be “oh my, look how we’re subsidizing rich suburbanites, this must stop.”
If Virginia’s typical, the reason those making less than $30,000 pay nothing is because they get thrown into Medicaid.
There are subsidies for healthcare, subsidies for green start ups, subsidies for food stamps...the Federal Gov’t picks and chooses its favorites and it MUST STOP!
I am now certified in California to offer this coverage.
The IRS reviews the tax return of the applicant to determine eligiblity. The subsidies are offered on a sliding scale depending on income.
Results: Virginia Medium Income
The information below is about subsidized exchange coverage. Note that subsidies are only available for people purchasing coverage on their own in the exchange (not through an employer). Depending on your state’s eligibility criteria, you or some members of your family may qualify for Medicaid.
Household income in 2014:
317% of poverty level
Unsubsidized annual health insurance premium in 2014:
Maximum % of income you have to pay for the non-tobacco premium, if eligible for a subsidy:
Amount you pay for the premium:
$5,008 per year
(which equals 8.09% of your household income and covers 100% of the overall premium)
You could receive a government tax credit subsidy of up to:
(which covers 0% of the overall premium)
The premium and subsidy amounts above are based on a Silver plan. You have the option to apply the subsidy toward the purchase of other levels of coverage, such as a Gold plan (which would be more comprehensive) or a Bronze plan (which would be less comprehensive).
For example, you could enroll in a Bronze plan for about $3,643 per year (which is 5.89% of your household income, after taking into account $0 in subsidies). For most people, the Bronze plan represents the minimum level of coverage required under health reform. Although you would pay less in premiums by enrolling in a Bronze plan, you will face higher out-of-pocket costs than if you enrolled in a Silver plan.
Out of Pocket Costs
Your out-of-pocket maximum for a Silver plan (not including the premium) can be no more than $12,700. Whether you reach this maximum level will depend on the amount of health care services you use. Currently, about one in four people use no health care services in any given year.
If Virginias typical, the reason those making less than $30,000 pay nothing is because they get thrown into Medicaid.
Yep and if they use services they will be billed and their assets removed. Cant own anything on Medicaid.
Should disclosed, 1 Adult and 2 Children over 20.
Idiot liberal voters just can’t see that spreading the wealth around will not work. It never has. They think they can actually build a social utopia. But most of them will see a cut in wealth.
“The IRS reviews the tax return of the applicant to determine eligiblity”
No, I don’t think I’ll comply with this, period. The IRS goons have no reason to see anyone’s tax return. We see how they operate! I may just need to go to jail.
1. This system isn’t going to work very well soon when everybody except politicians will be making 0-30k a year.
2. So, it sounds like your health insurance costs rise or fall every year with your income. Lose a job and only make 20k, free Obamacide. Finally have a good year in sales, bingo, much higher insurance costs, your subsidy went down.
What a country.
Isn't there an asset threshold?
Do they look at personal assets?
So why do congress and their staffers earning 100K to 250K a year get their insurance paid for on the exchanges? Application of the law here is a bit hard to follow?
This is what the elite wants. Andrew Stern and Maurice Strong have advocated for $12.00/hour labor costs for all.
Except themselves, of course.
One thousand years of darkness.
No. They look at your income and if you fall within certain levels of the Federal Poverty Guidelines. I did not see that they looked at assets.
I’m sitting at 88% of poverty level with a family of 8. When I saw the premium cost through this interface, I assumed I would have to pay out of pocket at 62% of my annual income. I’m employed and have insurance taking a huge bite out of weekly pay.
Affordable health care? Affordable health insurance? Not sure what to make of it all, except that I do not want the government dictating these matters in any way, shape, or form. I especially despise the notion they would mandate health insurance unequally across the entire population. It distresses me to see those who are independently wealthy taxed and regulated to such an extent they have little if any incentive to work, succeed, and bring others along for the prosperity ride.
My son’s family insurance, according to the rate tables, will be over $15,000 next year. More than double his present rate.
He liked his policy but he can’t keep it.
Obama bin lyin
$2,000 is the annual CO-PAYMENT for the least expensive health insurnce.
Not many eager to buy into Obamacare are aware of this. This will be an eyeopener for those living in ObamaLand...And that doesn’t include the DEDUCTIBLE, which is close to $5000 per year.
So, actually, people will be paying approx. $7000 per year for medical care ‘BEFORE’ their beloved obamacare kicks in to start paying their share.
Does that figure also the co-payment and also the deductible???
If that’s just the rate table he’ll likely be paying alot more Before...his coverage begins.
The least co-payment is $2000....and deductable close to $7,ooo for many.
This beast is a killer on anyone’s finances!
Very important people learn what the deductible and co-payments are......which is added to their costs. I understand you’ll be out $2000. just for the copay on the least plan which is the Bronze I think. The deductible in the thousands.
Interesting. I suspect this means people who have lost their jobs, but still have savings will get relatively affordable coverage, where they weren't eligible for Medicaid because of the assets test. And this is the political calculation the Dems have made, that people in these situations will show up to vote against the GOP if Obamacare is taken away (once it's implemented). There are also people making under $30K who don't get coverage from small employers and aren't eligible for Medicaid because they have some assets saved up. I wonder if this is why some of the moderate Republican pols have given up on repealing Obamacare as a lost cause.
Obamacare puts an end to asset tests for Medicaid.
It’s so nice to see a FReeper actually doing research, reading the relevant material, and posting links.
So many posts these days are reflexive opinions.
Any household making under 133% of the family size-adjusted federal poverty rate is eligible for Medicaid, at least for states that go for the Medicaid expansion, with no asset test. One commenter on Time had the following to say about the cost to her under Obamacare, based on the Kaiser Health calculator:
I'm sorry but this calculator is very WRONG!!! It calculates a person's annual premiums based on where they fall on the poverty level (percentage-wise). Unfortunately, it calculates this percentage wrongly. If you put your annual income in (say, $8520 per year for a family of 2 - 100% of the poverty level is $15,510), this calculator claims your family is only at 55% of the poverty level & has to pay 43% of their annual income for Bronze coverage or 70% of their income for Silver coverage & are not eligible for Medicaid, tax subsidies or exchanges because their income is not far enough below the poverty level!!! I can put an income of $0 (which it states is 0% of the poverty level) in this thing & still have to pay $3038 per year in premiums for Bronze coverage & would get $0 in tax subsidies!!!!! FIX THIS CALCULATOR!!!!!!!!
Another commenter responded as follows:
The calculator is 'right'; it's just a confusing situation. When ACA was written, the intent was for everybody at 138% and below of the poverty level to be eligible for Medicaid. These people weren't (and aren't) simultaneously eligible for subsidies for private insurance on the exchanges, because if they were to get Medicaid, they wouldn't need to buy private insurance. However, some states have elected not to expand Medicaid, which leaves a hole in coverage: people who weren't eligible for Medicaid but make 138% or less of the poverty level aren't eligible for anything. The calculator shows you the cost of insurance on the exchange without subsidies for these people, since there are no subsidies available. Of course you wouldn't buy that if that were your income level. You also won't be fined for not carrying insurance. In other words, the situation for people in the coverage hole is the same as before ACA: no insurance.My guess is that people with no insurance coverage and no Medicaid eligibility in states without the Medicaid expansion (which does away with asset tests) would be able to buy insurance just before going to the doctor, since Obamacare does away with pre-existing condition exclusions (for a several-month period) for new health insurance coverage.
I don’t know how many people are in the same boat as me. maybe i’m the only one. And i normally wouldn’t share such personal information but here goes. If this monstrosity goes through and if my husbands insurance supplied by his employer goes away and we have to use this crap it appears that we will be one of the people paying the high monthly premiums with high deductable. My children are almost all grown and gone now but here is my issue. regardless of what our yearly income is, we have large credit card debt due to raising three children during the recession/depression. for right or wrong we did rack up debt for things like christmas’, tires for the cars, property taxes, class rings, etc. all things that i felt were necessary at the time. My husband and I can afford to pay the payments on these cards. we had hoped eventually to pay them off. but those monthly expenses are not taken into account by the government went looking at our income and deciding without knowing my circumstances that we can afford their crazy monthly premiums. and from what i read there are super high deductables which means i will pay for all my own health care and meds on top of the monthly premiums. IF I am forced to do this here is what will inevitably will happen....i will have to bankrupt on all of our credit card debt to afford the premiums. That or let our house go back. either way our credit will be ruined and our debts unpaid because of obamacare. The other option to not join obamacare, have my tax return seized(probably won’t have one anyway) drivers license pulled, lein on house etc. perhaps they can just throw me in jail!
As far as getting good numbers, you can't even get an estimate off the WA website. You enter your family makeup and it generates rates for other family make ups at random.
Under OCare, for the states with extended Medicaid, there’s now just an income threshold. The exchange’s normal policies are not available below a certain income level. At least that’s my understanding.
Well, FWIW, and to the extent that anything is accurate now, I recently read an interview with an IRS official who said the only effort the IRS would make to recover the fines was to hold any tax refund. Asset forfeiture, leins, etc. would not be resorted to. The claim in that email that’s being circulated about drivers licenses being held also seems unlikely to me because the enforcement mechanism is federally operated and licenses are state issued.
That 133% figure is the baseline figure, some states are using a higher percentage.
Absolutely. With every entitlement, their power grows.
Sounds like a real budget buster for the states, once the Feds stop paying for it.
This could have been avoided if Dubya had introduced national competition between insurance plans by making individuals eligible to buy from every plan in the nation, thereby destroying every state-based health insurance requirement (i.e. paying for birth control pills, abortions, etc). Instead, he did No Child Left Behind, Medicare Part D and so on. Apart from his tax cuts, the guy was positively Nixonian in his embrace of the welfare state, on top of his enthusiasm for helping people with bad credit get home loans. With hyper-expensive COBRA plans slicing through the savings of recently- and long-term-unemployed individuals like a hot knife through butter, I can see why Obamacare could end up helping the Dems win elections for the next decade. The GOP had its chance at market-oriented solutions, and it dropped the ball during its narrow window of opportunity.
Longer term, I think it's not necessarily a bad thing. Things have to get worse before they get better. Upper income people are supporting the Dems because their Federal tax rates were lowered under Bush. When those rates move to 45% because of Obamacare, they'll flock back to the GOP, regardless of their love for gay marriage, gun control, etc.
Ultimately, as we move towards a single-payer system, I suspect defense spending will need to shrink to European levels. We’re still protected by two oceans and bordered by friendly (and weak) neighbors. World events may generate many more exciting headlines as we begin abrogating defense treaties after an initial spasm of hyperactivity. And I think it’s long overdue - the world has been sucking at the teat of American military welfare spending for far too long. It’s time they spend their own money defending themselves from their enemies. Europe wasn’t economically weaker than the US before WWII occurred. Individual countries merely decided that there is no such thing as an enemy - just friends you haven’t met.
In the 20th Century we had major periods of disarmament also. The Periods were right before World Wars 1 and II. When we abandon our military strength, the tyrants of the world take note. We are inviting full scale war IMHO.
As far as I'm concerned, it's up to them to defend themselves. At 600K dead fighting their wars for them, I think we've given quite enough young men defending the people of Europe and Asia. These are ancient civilizations quite capable of thinking for themselves. It's time they grew up and reacquainted themselves with the notion of military self-sufficiency.
That's exactly what we said before the Maginot Lines of France and before the rise of the Nazi party. Let the Eurpeans die. We thought we were immune until Pearl Harbor.
Isolationism didn't work for us then, and it will not work for us now.
I've never figured why anyone thought of the US as isolationist. Any more than Brazil or Argentina was isolationist, that is. The real problem is that the countries directly at risk are not merely isolationists - they are fantasists. Unless countries that act this way pay the price, everyone else will fall back on Uncle Sam as the unpaid janissary of first resort. We've defended them repeatedly in the past. It's time the training wheels came off.
Bottom line is that I’m not thrilled with the idea of Uncle Sam as a military slave to the world.
That is our history. We fight and go home. We hate war.
Later on, war finds us.
$6000.00 deductible, he said. He didn’t mention his co-pays. He and his wife are in their mid-40’s and have an 11 year old child.
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