Skip to comments.Obamatax information needed
Posted on 07/11/2012 7:55:56 AM PDT by Typical_Whitey
I am retired USN and currently pay a small Premium to HUMANA for TRICARE PRIME this covers my family with medical insurance. Since I began working for my employer he has allowed me to keep the portion that he would have to pay for my healthcare insurance as incentive pay it works out to be about $2.50 per hour. How is this going to be impacted by Obamacare? Any references would be appreciated.
Even if you get the answer you seek, I wouldn’t put 100% faith in any answer, until you actually see it implemented.
Watch me pull a rabbit out of my hat, oops wrong hat. Anything that happens will not be a positive.
I wouldn't sweat it. Its just the working young, who don't have any parents that I worry about. Obamacare will push a goodly number of these into poverty.
No one probably knows as of yet....your employer may get to a point where they have to dump healthcare for employees and put everyone out on their own as it is....
Your free ride is over sucka.
Time to pay up!
No, not that way...familial, not racial.
A while ago I read that any health care paid for by an employer would now be taxed as income to the employee.
It’s in the 2,400 page monstrosity that no one read.
Who really knows?
I really don’t think anyone knows for sure what tomorrow will bring with Obamacare. But I can tell you that provider contract rates for those continuing to see military patients are being cut which will eventually result in fewer physicians and longer waiting times for appointments.
Most of the docs I work with are still hanging on as Tricare physicians simply because they believe in doing what they can to help the military. But the latest round of cuts are not only substantial but representative of the current administration’s loathsome attitude toward to our military and their families.
I can't help you much with the regulations that go far and beyond this.
Some of them are still being written.
Here's a thread with an informative pdf link.
@ PPACA (Obamacare), Did you know?
One of the things you can use as a starting point is the number of employees in the company.
Here an answer to your question:
The answer appears to be, no, you do not pay taxes on employer provided health insurance. At least not yet!
Your employer will just figure out that it will be cheaper to pay the Obama fine than cover you so he’ll just drop your health insurance.
Tricare Prime is not employer provided healthcare.
Comprehensive List of Obama Tax Increases
I dissagree with that assessment. Employers aren't required to offer health insurance now, and there is no fine for not offering it and they still offer it.
The fine to the employer for not offering insurance advances over 4 years until it's expected to be more than the cost of insurance. Employers will look at that and realize any savings from dropping insurance now evaporate in 4 years.
The only incentive I can see to dropping insurance now, would be the existence of a government group policy, so that employees do have somewhere to go, where employees with preexisting conditions currently do not.
The main downside I see of the employer penalties is the effect on new businesses.
Check yuour FReep Mail
It would be cheaper now for an employer to drop the coverage with no fines involved. Why aren't they doing so now? It's because it makes them more attractive as an employer and helps them retain the best workers. Why would that change?
He’s the smart, wealthy, good-looking, modest one.
I’m the...well, dang it, whydya think I’m fightin’ all the time?!
I see you’re the one who turned out with a sense of humor.
And you the peacemaker.
Sometimes a guy’s just gotta appreciate it all, don’t you think?
Sometimes a guys just gotta appreciate it all, dont you think?
Sometimes, yes. At other times it's rather difficult to do so.
Well, you stuck a hand out toward me when you didn’t have to.
Hang in there, Phil.
I’ll watch for your posts.
Drop a line anytime. You take care.