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87% Of Uninsured Can Avoid ObamaCare Mandate Tax: CBO
Investor's Business Daily ^ | 06/05/2014 | John Merline

Posted on 06/06/2014 4:00:49 AM PDT by IBD editorial writer

Almost none of the uninsured will end up paying the ObamaCare mandate penalty, according to an updated analysis by the Congressional Budget Office, which found that 87% will be able to claim an exemption.

That exemption rate is higher than the CBO had previously thought, which not only blows a hole in its budget forecast for the law, but also increases the odds of an insurance industry "death spiral."

According to the CBO's latest estimate, out of the 30 million people who will still be uninsured in 2016, just 4 million will end up paying any tax penalty, despite the law's requirement that everyone buy government-approved insurance.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: healthcare; individualmandate; obama; obamacare

1 posted on 06/06/2014 4:00:49 AM PDT by IBD editorial writer
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To: IBD editorial writer

You wonder whether there have been long discussions in the insurance companies’ boardrooms as to whether it was such a good idea to back Obamacare.


2 posted on 06/06/2014 4:07:45 AM PDT by OldPossum ("It's" is the contraction of "it" and "is"; think about ITS implications.)
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To: IBD editorial writer

I avoid Obumbocare by not living in the new USSA.


3 posted on 06/06/2014 4:08:00 AM PDT by AlexW
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To: OldPossum

If they are just having these discussions now instead of when this ponzi scheme was first floated to them, then they will die a deserved death.

Entrepreneurs see this upheaval as an opportunity to have somethings in place cutting every third party operator out of the doctor-patient relationship. I already have a team working on this right now.


4 posted on 06/06/2014 4:22:25 AM PDT by mazda77
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To: IBD editorial writer

Pretty sure this new information will skew the CBO’s budget projections as far as new revenue is concerned. Homer Simpson might say “Doh”!!


5 posted on 06/06/2014 4:25:40 AM PDT by Artie (We are surrounded by MORONS)
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To: mazda77

Good luck.


6 posted on 06/06/2014 4:26:56 AM PDT by the anti-mahdi
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To: the anti-mahdi

This will be groundbreaking and I promise to give my fellow freepers the first views once we go live.


7 posted on 06/06/2014 4:33:21 AM PDT by mazda77
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To: IBD editorial writer

#14: “you experienced some other hardship” “provide documentation if possible”.
both horribly bad (leaves hardship determination totally up to bureaucratic whim) and good (anyone can claim a hardship and theoretically appeal an unfavorable decision).


8 posted on 06/06/2014 4:42:51 AM PDT by visualops (artlife.us)
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To: mazda77

I remember not having insurance after military life — not that many years ago. We saw the doctor, paid our $15.00, and the nurse (the doctor’s wife) was the one who checked us out. We had one hospitalization during that time. It was a two-day stay and was less than $1000.00.

A couple years later, we had a so-called Cadillac plan with BC/BS.

However, we continued paying out of pocket to see our FP because our family plan required a family deductible of $2500.00 before we qualified for the 80/20 — which we could never meet because we were all healthy.

But emergencies and hospitalizations were covered 100 percent, so we felt good about our coverage.

I really miss those days!

If I could have my way, it would be that your team take us back — adjusting for inflation, of course.


9 posted on 06/06/2014 4:55:30 AM PDT by Heart of Georgia
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To: mazda77

what obummercare may do, is force and accelerate what needed to happen- for patients to work directly with their doctors and surgeons to arranged reasonably priced self-pay care. Case in point: we recently arranged and self-paid for my husband’s umbilical hernia surgery- initial new patient surgeon office visit ($200), surgeon fee for actual surgery ($300), surgical center ($1350), anesthesia ($300), and 2 followup surgeon visits(free). The best quote we got for hospital was around $4500 self-pay cash up front and that didn’t include surgeon or anything else. Rates were significantly higher if you had insurance, and of course it’s false to assume insurance “pays” as you pay premiums and deductibles and co-pays.


10 posted on 06/06/2014 4:59:24 AM PDT by visualops (artlife.us)
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To: IBD editorial writer

Single payer to the rescue. Socialized medicine was always the goal. I am amazed that so many in the commentariat fail to understand that simple fact.


11 posted on 06/06/2014 5:49:49 AM PDT by SC_Pete
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To: visualops

I have been thinking/saying that one of the “good” unintended consequences of Obamacare was that people would ‘just say no’ and start paying cash/negotiating with their doctors. The ‘something catastrophic happens’ issue aside, especially with the high premiums and deductibles under Obamacare, you pay and pay and pay on premiums .... then have to pay and pay again to meet deductibles and copays .... and still have no medical care that’s not out of pocket .... if you can find a doc/hospital to take the cr@ppy plans. If you accept a subsidy/tax credit & the calculation is wrong and the subsidy is too high or your income changes & lowers the amount or eliminates your eligibility, you could be getting a very hefty bill from the IRS to repay the subsidy & on this issue, they aren’t restricted to only refunds to collect. Those high premiums alone will pay for a good amount of medical care - direct with the doc where the two of you can decide what is best, no insurance company or government intrusion.


12 posted on 06/06/2014 5:49:51 AM PDT by Qiviut (Obama: A Caesar at home & a Chamberlain abroad, dividing the country & uniting the world against us.)
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To: OldPossum

all they are talking about now is how much money to give Hillary Clinton


13 posted on 06/06/2014 6:02:40 AM PDT by silverleaf (Age takes a toll: Please have exact change)
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To: SC_Pete

“Single payer to the rescue. Socialized medicine was always the goal. I am amazed that so many in the commentariat fail to understand that simple fact.”

This!


14 posted on 06/06/2014 6:19:23 AM PDT by Syntyr (Happiness is two at low eight!)
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To: Syntyr

You and I know that Obamacare was always designed to fail. The health care industry expects a bailout like the banks got. They will get a bailout and single payer will squash the competition. Crony capitalism [FASCISM] on the march. AARP is leading the charge.


15 posted on 06/06/2014 6:44:56 AM PDT by SC_Pete
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To: IBD editorial writer
In addition, the law forbids the IRS from using its normal enforcement tools to collect unpaid penalties. Tax experts say the best it can do is withhold the penalty amount from any tax refund due.

A caution here: I think California, which runs their own exchange, doles out "subsidies" and would be the entity chasing you down for pay-back instead of the IRS. They can empty your bank account just like the IRS can, or in in this case, cannot.

16 posted on 06/06/2014 6:58:03 AM PDT by jiggyboy
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To: IBD editorial writer

One more step to single payer. All going to plan.


17 posted on 06/06/2014 1:06:59 PM PDT by Organic Panic
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Comment #18 Removed by Moderator

To: AlexW

You are quite pleased to not live in the United “Socialist” States of America, disparaging it from afar, yet you’re absolutely dependent on its “Social” Security payments to keep a roof over your head,food on your table, and wine in your bottle.

Ain’t irony wonderful?


19 posted on 06/07/2014 4:52:27 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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Comment #20 Removed by Moderator

To: DuncanWaring; AlexW; wku man; eartick; Windflier; AllAmericanGirl44; NFHale; Old Sarge; ...

“Irony”?! Heck, I’ll bet the worm thinks that is something for his ‘Washing Machine’ to do with the laundry when she finishes that up! (WM: “mista alec, mista alec, irony now?” Alex: “Damn it no!!! Wash ‘em first then irony!!” WHERE IS THE QUOTE LIAR????


21 posted on 06/07/2014 11:17:17 PM PDT by bobby.223 (Retired up in the snowy mountains of the American Redoubt and it's a great life!)
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To: bobby.223

Bobby, you are cracking me up!


22 posted on 06/08/2014 3:02:53 AM PDT by AllAmericanGirl44
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To: OldPossum

It’s the old adage of the monies being nice to the crocodile, hoping he will eat me last.


23 posted on 06/08/2014 3:05:46 AM PDT by gitmo (If your theology doesn't become your biography, what good is it?)
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To: Artie
Pretty sure this new information will skew the CBO’s budget projections as far as new revenue is concerned. Homer Simpson might say “Doh”!!

Only if they are allowed to use it. They are told what assumptions to use in each analysis.


24 posted on 06/08/2014 3:07:44 AM PDT by gitmo (If your theology doesn't become your biography, what good is it?)
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