300Mil Americans / 4 * 20,000 = $1.5Trillion
Current spending is $2.7Trillion
Medicare is about $600B
$1.5 Trillion + 600B = $2.1Trillion
So there’s roughly $600B in fees and co pays to get to break even.
so are we really spending an aggregate of approximately $35k - $40k per family of 4 NOW??
Where is all this money going?
(just a rhetorical question)
Ok....with a family of 5 as stated
” 300Mil Americans / 5 * 20,000 = $1.2 Trillion “
Leaves more money for fees etc. rhetorical question the same
Unless I missed something I think that $20k per family is for premiums that go to private insurers not into the Treasury.
Be careful about the questions you ask, Comrade.
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 347 percent of
the Federal poverty line, the applicable percentage is 9.5. Because each month in 2016
is a coverage month (within the meaning of §1.36B-3(c)), the maximum credit allowable
under section 36B is the excess of the premium for the applicable benchmark plan over
the product of the household income and the applicable percentage ($17,400).
Therefore, under paragraph (e)(4)(ii)(A) of this section, the required contribution for M,
N, P, and Q is $2,600. Under paragraph (f)(2) of this section, M, N, P, and Q have
affordable coverage for 2016 because their required contribution ($2,600) does not
exceed 8 percent of their household income ($6,400).
The annual payment is $2600, not $20,000. The 20K is used as the basis for some sort of income scaling.