Posted on 10/02/2013 5:30:57 PM PDT by whitedog57
Obamacare is off to a rocky start. Let’s 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.
vaheathcare
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.
dvdevery
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:
$5,008
Maximum % of income you have to pay for the non-tobacco premium, if eligible for a subsidy:
9.5%
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:
$0
(which covers 0% of the overall premium)
Bronze Plan
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 Virginia’s 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.
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