Our medical expenses will not decrease, nor will the amount we have to pay out of pocket be cut in half...but the amount we were able to shield from taxes just got slashed, and with more money to tax, our total taxes will increase.
Thank you very little, US CON-gress, Comrade Peloski and Premier Hussein...
I am not surprised. This is one of the few things they could have done to actually help people with medical expenses. But no, that takes money out of their hands and gives people actual control of their lives. We can’t have that.
My wife’s employer just told the 100 or so employees that the company is not paying any more towards their health care than they are right now and the next increase(s) will come out of their pockets. For 3 years increases have been flat with their insurnace company but they are being warned now with Obama care to expect a 25% increase so her costs would go up 50%.
I’ve been trying to find this car insurance vs health insurance article where the argument is they’re not the same. Anybody know?
I just had a prescription denied today by my insurer. Had NEVER had that happen.
Much of the price increases that have happened and will happen this year are DEFENSIVE. Any company that is told it is going to be subject to confiscatory taxes, etc., will defensively raise rates, etc. ahead of time, trying to damage limit.
that with the passage of Obamacare, the maximum allowable amount for those accounts starting with the next enrollment period is now $2500, period.
I got into a HSA this year just to save myself some money..The new HSA $2500 limit is going to hurt me as my insurance does not kick in until I have paid $3000 out of pocket.
We ain’t seen nothin’ yet!
Everyone, say goodbye to any semblance of a decent standard of living.
We’re already eating ramen noodles 3 nights a week and I haven’t grilled a steak in over a year.
Poverty is the new middle class under Øbama.
One of the bones to the insurance industry in the package is that they can no longer be used for over the counter drugs without a prescription.
If another democrat is elected in this nation in the next 20 years it’d be too soon.
P.S. The Left has always hated medical savings accounts. You see, they only benefit people who have “extra” and who are wise enough to save and plan ahead. They are only for the greedy rich.
Just to add to how much this can hurt, we put in $4000 for 2009-2010 and used every bit of it covering my wife’s chronic problems and two children. What’s that, almost a $1600 tax saving for the year?
I’m in the same boat. Waiting for more “unexpected” gottchas...
Yeah, thank the Democrats for limiting the amount you can put into a Flex Spending account. No other reason for them to do this other than to divert revenue to the government.
Make him produce the birth cert. and all this comes to a screeching halt. He knows it too.
This is the start. My guess is that if Repeal and Replace does not occur, your wife's company will be dropping your coverage in 2014. She and the other employees will then be buying coverage through the Gubmint exchanges, and if your family makes $88,001 or more, you'll be footing the entire bill.
Your situation is one of millions like it, all bad. But, as Max Baucus said, we've been suffering from a "mal-distribution" of income in this country, and it's time for income to flow to the lower classes.
You are exactly right. We also pay most of our out-of-pocket health expenses with pre-tax dollars. We can contribute any amount, but it has to be used by the end of the year or we lose it. Not after this year, though! $2500 will be the limit. Definitely a TAX INCREASE and we do not make more than $250,000/year.
We had one of these for years. Put $5000 every year without fail and used every cent. Now we’re retired, but were we still working this cut would be costing us no small amount in additional taxes.
Of course you can deduct medical expenses on Schedule A if you exceed 7.5% of your income, but that exclusion is increasing to 10% of income, another tax increase on folks with less than 250K income.
Needless to say the treason-media complex is silent on these broken promises.
Obviously the company pays each of its employees over $250,00 a year, since hbo ‘promised’ that he would not raise taxes on anyone receiving less than that per year.
(sarcasm off)
I think that’s a Cafeteria Plan, not an MSA.
Sorry to hear how that impacts you. It’s a shame this is taking place.
IMO, this is going to do massive damage to the middle-class in our nation. The amount of things the bottom group in our society is about to get, will tank the middle-class IMO.
So what incentive is there to work hard these days?
I guess it all comes down to character. You’ll work because it’s your ethic, but for little else as Obama levels the playing field.