Posted on 07/30/2013 3:08:56 PM PDT by lowbridge
Be careful you don't fall off the Obamacare "cliff" when the boss asks you to put in some overtime.
Working more could ultimately mean thousands of dollars less for you under a quirk in the new health-care law going into effect this fall. This could prompt some people to cut back on their hours to avoid losing money.
"Working more can actually leave you worse off," the price-comparison site ValuePenguin.com notes in a new analysis.
"It's sort of an absurd scenario," said Jonathan Wu, ValuePenguin.com's co-founder. "It's something for people to be aware of."
In that scenario, an individual or family whose annual income surpasses maximums set by the federal government—if only by $1—will totally lose subsidies available to buy health insurance under the Affordable Care Act.
The loss of those subsidies in some cases will mean that people potentially would have been better off financially if they had worked less during the year, Wu said. And they then would have to work significantly more to make up for the lost subsidy.
(Excerpt) Read more at cnbc.com ...
The fiscal cliff exists in the welfare sector. The benefits are good enough that the marginal rate for working is astronomically high, because it causes a loss of benefits, plus you have to pay income tax.
Obama, through Obamacare, is moving that tradition to the private sector.
HAHAHAHAHAHAHAHAHA. SNORT HAHAHAHAHAHAHAHAHA SNORT
HAHAHAHAHAHAHAHAHAHA....
From an article that I read in the WSJ, the subsidies do not amount to much, anyway.
The cheapest policy for a young man is about $116 owe month about a $6500 deductible. the highest government subsidy for the policy would be about $14/month. A perfect waste of money because a healthy young person would never use up the deductible.
Yeah, that is exactly what an under-performing economy needs, more disincentives for productive work. Socialists just never learn.
Stop the train wreck - don’t fund Obamacare - http://www.dontfundobamacare.com/
For too long America has been on a slow boil to socialism.
Obamacare is just the thing to turn up the heat fast enough to shock people awake.
Bring it on!
The cheapest policy is to stay on their parents' policy until they are 26. The liars keep touting all the twenty-somethings who will be buying health care as a driver to bring premiums down, but if they are on their parents policy they won't be contributing a thing.
This is what’s known as a ‘perverse incentive’...
Although the Obama economy is turning us all into virtual contractors with the choice to select how many 29-hour-a-week jobs you choose to work. Congrats, you get to work a 87 hour work week at straight time and lose all your benefits!
“Hospital chief critical of reform plan
Magnolia Regional Health Center CEO Rick Napper sees troubled times ahead for health care if the currently proposed reforms become law.
In a presentation Monday at the Corinth Coliseum, Napper said hospital closings, physician shortages and rationed care are all in store under the Democratic plans pending in Congress. He said he has spent much time reviewing the legislation and monitoring committee meetings on the reforms.
Y’see, things like this don’t matter to Obama, Pelosi, or any of the other socialists/marxists/whatever they are. As long as they destroy, control, and enslave, that’s all that matters.
“The damage will be immediate,” said Napper. “You will see hospitals and physicians starting to react to that plan in January 2010. I know we will. We’ve got scenarios set up based on which plan goes through.” Napper said he does support the concept of health care reform but likened the current proposals to the Titanic.
Yep, we’ll sink a LOT faster than the Titanic too. Right now, I see us scrambling for the lifeboats, and there just aren’t enough. How many doctors have you heard say they will be getting out of the profession if this goes through? I’ve heard a LOT, but that doesn’t matter to the weasels either, because once all the old folks are unable to get health care, we won’t need as many.
He said what the public is hearing about the proposed reforms omits critical details. “I do not believe any of the politicians are lying to you,” said Napper. “I just don’t think they are telling you the truth.”
http://olbroad.com/2009/11/page/8/
I guess turds really do float .... just takes some longer than others to get to the top.
And here’s the worst part ... that accounting to see if the subsidy goes away for that extra $100 in income comes AFTER THE FACT. File your tax return in February 2015 for the 2014 tax year and your subsidy income is trued up. Here comes that 1099 for the extra dividend set in December for those few shares of company stock you hold, kapow!!! You get to pony up that $6000 subsidy payback as part of your 1040. At least that is how what I’ve studies about the bill portends. A RAT won’t be able to be elected dog catcher in 2016. Perhaps that’s why the republican effort against the bill is so tepid. Except we’ll all be hopping mad and an incumbent won’t stand a snowball’s chance in hades.
I think that the article that I was reading was talking to a single guy in his early thirties.
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