Skip to comments.Shocker: IRS estimates cheapest Obamacare plan $20k per family in 2016
Posted on 03/06/2014 7:54:53 AM PST by SeekAndFind
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
(Excerpt) Read more at americanthinker.com ...
that is just the premium, not the deductible...
we will be a nation of uninsured
the elephant in the living room is the fact that by mandating health care coverage, you don’t get economies of scale, but rather a captive audience, such as happened when auto insurance became mandatory.
and the fact that with health care costing so much, this is a mortgage payment without the house. so we force families to pay an amount equal or above a mortgage payment, then we worry that nobody is buying houses.
why isn’t anybody pointing out this fact?
Wait, all those “I’m covered” commercials I see on tv show millenials glowing over their $70 premium?
I wonder if they are including the insanely high deductible that’s part of these “plans”. The deductibles are so high, you’re just as well to not even have insurance, except for the worst kind of scenarios.
And the geniuses at CNBC never mention that this disastrous ObamaCare inflation will suck the life out of Middle Class purchasing power. A mind is a terrible thing to waste, ObamaBots.
Time for a revolution in this country.
Where’s my $2,500 savings?
LOL! Americans vote for these fools and now they are going to get bankrupted by them.
Oh don't worry, that number was created to justify the subsidy. The individuals won't really pay that amount. It will be funded by those tax payers.
When does it end?
It ends when Benghazi Coverup Boehner Impeaches B. Hussein Obama, aka Barry Soetoro, a legal citizen of the sovereign Nation of Indonesia.
Until then the Boy-Toy Dictator Soetoro-Obama will be free to do whatever he wants to do.
bronze plans do not qualify for subsidy
Way past time.....Time for a revolution in this country.
The destruction of the middle class continues...........
I didn’t know the word “unexpected” was copyrighted... :)
Well, just raise the minimum wage to $100 an hour and the problem’s solved!........
And for that outrageous premium people will get a really crappy plan that will leave them broke and destitute should a serious medical condition arise. They will have deductibles on both ends of any medical experience, from paying for the upfront labs to getting stuck with whatever is left after a ridiculously low payout cap. They would be better off keeping their 20 plus thousands, and accepting the possibility of owing $100,000 in medical expenses instead of $75,000. Either way, they can’t pay.
I’m not buying a damn thing.
I’ll die first.
$20,000. Are co-pays and deductibles factored into that number?
Obamacare 100% democrat approved happy elections.
Don’t have to worry about boycotting Disney parks because of the Gay Scout crap. The middle class won’t be able to afford to take vacations in the future anyway.
The entire economy will collapse long before anybody actually pays $20K/year.
Makes me grind my teeth when I see those...rrrrrr
This is real, I just downloaded the .PDF document from the IRS website. This particular example given in the article is buried on page 70. The text reads:
. Family without minimum essential coverage
. (i) In 2016, Taxpayers
H and J are married and file a joint return. H and J have three children: K, age 21, L, age 15, and M, age 10. No member of the family has minimum essential coverage for any month in 2016. H and Js household income is $120,000. H and Js applicable filing threshold is $24,000. The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000.
CAN WE REVOLT NOW???
Median household income is right at $50,000.
In a different context the crowd that supports and defends ObamaCare would be scolding us about “sustainability”. Yet, their flagship Utopian dream is economically unsustainable.
This is the grandest progressive FAIL in US history. How will we repeal it? I guess by going to court and forcing the executive branch to follow the law and the timetable in the law.
$20,000 per year is what the average private sector respectable middle class family will pay.
Obama voters (off all stripes) the gimme class will be paying zero or close to it. They will NOT be forced to pay absurd deductibles because they simply do not have that money. They are not poor. They somehow have huge flat sceens and nice automobiles on credit
Gov’t workers also will not be paying any $20,000. I am generalizing here because there are 3000 on up governments in America
Say you are gay and have AIDS, No way will they be charged much. The private sector middle class will be paying the freight for these fools
On top of it all, our tax dollars are used every time the ad runs. And they run them a lot!
That’s unexpected. Who would have guessed that “the Smartest Man in the World” would produce a plan that didn’t meet his goal of saving $2500 per year for each family? Who would have guessed that mandatory coverage of preexisting conditions and unwanted procedures would be more expensive than just the coverage people want?
I need to go take another blood press pill.....
“Wait, all those Im covered commercials I see on tv show millenials glowing over their $70 premium?”
Those are the people getting subsidies. They’re the reason the people paying full freight are paying so much.
“Time for a revolution in this country.”
Keep your powder dry...and close at hand.
Yes, you and I are paying the other 300 bucks a month with our tax dollars.
This is all about Government of the Gibsmedats, by the Gibsmedats, for the Gibsmedats.
Barry Benghazi Soetoro: King of the Gibsmedats.
I remember the days before the government got involved and doctors charged what they needed to for themselves, before the price of medical care got unnecessarily inflated. I could usually get out of the doctor's office only paying $45. Yeah, my entire checkup was what today is a co-pay under Obama.
Im covered! sez all the actors in the commercials.”””
And they say: The GOVERNMENT will pay part of my premium.
I cannot imagine how many of those actors will shill for the lies in this program.
RE: What if you only make 10 bucks an hour?
Then you go on Medicaid.
$120,000 x 8% = $9600.
Wonder if H & J will figure out that they would be better off to just bank that money and pay for their own health care.
If the premiums on the exchange are more than 8% of your income then no penalty. H&J need to get informed.
Why isnt anybody pointing out this fact?
Therein lies our problem. We certainly cannot expect the media to do it, we know they won't. So, the only alternative is to somehow get the conservatives to pony up the money to buy airtime and newspaper ads...that is, the media will take them. My guess is that they will since they're bleeding from reduced revenue nowadays.
if you only make 10/hour, much of that 1500 mri is subsidized, especially if you have no insurance and tell them such.
in any market, prices will rise to absorb any extra monies allocated to that market. health care cost in the us started to skyrocket when the federal government started shoveling our cash into it. and whenever the costs got out of hand, their solution would always be to increase funding. hence rising costs.
But what’s important is Sandra Fluck gets free birth control. We keep losing sight of what is important.
I would hope only bronze plans qualify for subsidy.