I went to the doctor this very morning.
I used to have to fork over a cash “co-pay”; each visit was $10.
Now I have to come up with a cash “co-pay” and a cash “deductible.” Total: $91.
But I know I’m going to save $2500/yr eventually. Maybe when I’m dead.
For those who have to pay back subsidy; welcome to the the republican party. ACA passed without a single republican vote.
I do not see how the shared responsibility payment can be an excise tax because;
excise tax - a tax that is measured by the amount of business done (not on property or income from real estate)
The penalty is imposed on those choosing not to do business with the government ObamaCare or with a private healthcare insurer. How can you have an excise tax on a non-existent transaction?
It is simply an illegal fine. The USA has become an oppressive socialist state.
Nailed it!!!
their insurance policy won’t cover a dime of medical expenses until they have exhausted slightly over a quarter of their annual income ($20,064 / $80,000).
That must be ‘built in’ to the Obamacare policies. When I ran our numbers it came out to over 25 percent of our income. That’s affordable!
The older one is when taking subsidies the closer they need to pay attention to this. If your in your late 50's or older, the pay backs can be quite large if you go over 400% FPL on income. Such examples might be a large year end mutual fund distribution or maybe you inherit an IRA and take too big of taxable distribution without realizing it is income. A mistake at that age could lead to a high 4 figure or low 5 figure subsidy payback..
bkmk