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IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family
CNS News ^ | January 31, 2013 | Matt Cover

Posted on 01/31/2013 2:43:47 PM PST by rhema

In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.

Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.

The IRS's assumption that the cheapest plan for family of five 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.

In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.

To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.

In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.

Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.

For those wondering how clear the IRS's clarifications of this new "penalty" rule are, here is one of the actual examples the IRS gives:

“Example 3. 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 J’s household income is $120,000. H and J’s 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.

"(ii) For each month in 2016, under paragraphs (b)(2)(ii) and (b)(2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,780 and $2,085 ($695 x 3)). Under paragraph (b)(3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph (b)(1) of this section, the monthly penalty amount is $200 (the greater of $173.75 ($2,085/12) or $200 ($2,400/12)).

"(iii) The sum of the monthly penalty amounts is $2,400 ($200 x 12). The sum of the monthly national average bronze plan premiums is $20,000 ($20,000/12 x 12). Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on H and J for 2016 is $2,400 (the lesser of $2,400 or $20,000).”


TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; Crime/Corruption; Government; Politics/Elections
KEYWORDS: 0care; bhofascism; deathcare; democrathealthcare; democrats; fubo; fudemocrats; fuobamavoters; govtabuse; healthcare; incometax; irs; irsobamacare; liberals; nothealthcare; obama; obamacare; obamacarefiasco; obamacarepenalty; obamarecession; obamataxhikes; pelosi; progressive; romney; romneycare; socialisthealthcare; tyranny; zerocare
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To: jjotto

That is a worrisome thought...since whatever hell-hole they came from, the USA looks like Heaven.

That said...my daughter’s doctors, who saved her life, were from NZ, Chile, & Jordan.

It was American specialists in the good old USA who screwed up in the first place. All the foreigners, not exactly third-world, but first-class all the way...

I would put my life and that of my family in the hands of a foreign physician 9/10 before I let another degree-mill American touch the chart.

Sorry, bad experiences...a nearly dead kid, a year-long vacation in NICU/PICU...and over a million in medical expenses in 3 years....and the foreigners at CCF (Cleveland Clinic) figured it out, fixed it via surgery and literally saved our family for less than $20K.

Foreign doctors aren’t our problem. Foreign Takers ARE, in healthcare and everything else.


101 posted on 01/31/2013 4:52:39 PM PST by LadyBuck (Illegal aliens are like sperm. Millions get in but only one works....)
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To: muawiyah

Most large companies want socialized medicine. They pay the $20K now, and want to get out of it.


102 posted on 01/31/2013 4:54:31 PM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: rhema

I even hate well intentioned Democrats. And I mean hate. I have lost most of my empathy for even stupid people that don’t know any better. It is time for some Charles Darwin action in America.


103 posted on 01/31/2013 5:02:50 PM PST by ConservativeInPA (Molon Labe)
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To: TomGuy
why cant the gov say as they do with military health care as provided the patients cant sue because the care is provided. All govt docs have immunity.
104 posted on 01/31/2013 5:03:04 PM PST by bdfromlv (Leavenworth hard time)
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To: vetvetdoug

“I hope the 47% of the US get their just desserts.”

Rest assured, they will - theirs and yours. You ain’t seen nothin’, yet. Elections have consequences.


105 posted on 01/31/2013 5:03:36 PM PST by jivin gene (Breakin' up is hard to do)
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To: muawiyah

If I were you FRiend, I wouldn’t place my future in the hands of the Republicans in the House.


106 posted on 01/31/2013 5:04:13 PM PST by Venturer
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To: rhema

Pre Obamacare, you may have paid a lot for good care. Post Obamacare, you are forced to pay a lot for no care.


107 posted on 01/31/2013 5:08:15 PM PST by dforest
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To: rhema

The MBS counterfeiters, found themselves holding their own bag, with paymentS demanded:

1. “Banks” (so called “banks” in reality Anti-Glass Steigal scammers)

2. “Insurance” (so called “insurance”, in reality equity holders of counterfeit #1, and sellers of bankrupt global sovereign bond funds)

3. Government fund and pension “invest” in the counterfeit “market”, in reality government fund market.

They are attempting to take the ponzi-bag and extort their way off everyone else’s backs, while most importantly, keep their salaries jacked to not face the music.

Repeating, Extortion-Care is a violation of the Civil Rights Act on the basis of “privilege right,” due to Unequal ACCESS. These “Tiers” are further documentation behind the attempted Extortions.

And the attempted construction of an ongoing “Extended Territorial “Work/Labor Camp” ETLC


108 posted on 01/31/2013 5:09:37 PM PST by Varsity Flight (Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: tet68

Someday it will really suck to be Obama

I only pray I live long enough to see it.


The sooner the better! I hope before my next b’day.


109 posted on 01/31/2013 5:15:48 PM PST by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: jjotto
Don’t forget the flood of incoming Third World physicians who will work for pennies and be worth every one!

Works well in Great Britain. A few of these imports served as doctors in the morning, then in the afternoon unsuccessfully tried to blow up an airport. Which makes one wonder about their capability..not smart enough to set off a bomb? Hopefully their patients were reassigned to a non-bombing doctor.

110 posted on 01/31/2013 5:19:34 PM PST by Voltage
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To: rhema
so for a family income of $40K you can buy insurance, eat/put gas in the car, pay rent/mortgage, pick two...
111 posted on 01/31/2013 5:19:47 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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To: tet68
Well I am assuming that is why he signed an Executive order granting himself and other ex-presidents lifelong security
prtection because he knows he screwed the USA.
112 posted on 01/31/2013 5:24:28 PM PST by funfan
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To: rhema

Everyone remember this little in-your-face parade? Yeah. I though you might.

113 posted on 01/31/2013 5:26:49 PM PST by Billthedrill
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To: TomGuy

“unintended consequences”? None of Obama’s consequences are unintended. He is out to destroy as much of America as he can and he’s doing a fine job.


114 posted on 01/31/2013 5:28:24 PM PST by ilovesarah2012
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To: Diogenesis

TAXERS for ALL but THEMSELVES:
“Not OUR families, you worthless maggots (taxpayers).”

The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.


115 posted on 01/31/2013 5:28:46 PM PST by Wisconsinlady (The 2nd amendment is NOT about hunting-but protection from a tyrannical govt)
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To: Gator113

“Obama is turning us into slaves.”

Bingo. “2016 - Obama’s America” spelled it out. We are right on target.


116 posted on 01/31/2013 5:31:44 PM PST by jivin gene (Breakin' up is hard to do)
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To: TigersEye; Jonty30
With no roof over your head and no food to eat you’re going to need get health care waiting lists more than ever, comrade. /s

......Sorry, but I had to fix it.

117 posted on 01/31/2013 5:32:16 PM PST by fanfan ("If Muslim kids were asked to go to church on Sunday and take Holy Communion there would be war.")
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To: rhema

bttt


118 posted on 01/31/2013 5:33:08 PM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: rhema

Everyone who voted for this crazy man deserves to be vilified.


119 posted on 01/31/2013 5:33:32 PM PST by Conservativegreatgrandma
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To: plain talk

Obamaphone!


120 posted on 01/31/2013 5:34:00 PM PST by Shady (Libya shows us how Americans rate...)
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To: rhema
I see why the Left is comparing Obama to Lincoln. There is some symmetry.

Lincoln freed the black slaves. Obama enslaved the white devil.

121 posted on 01/31/2013 5:35:53 PM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: Billthedrill

AND...they exempted themselves and the Prezzy from this crud....


122 posted on 01/31/2013 5:42:48 PM PST by Shady (Libya shows us how Americans rate...)
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To: Diogenesis

TAXERS for ALL but THEMSELVES:
“Not OUR families, you worthless maggots (taxpayers).”

The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.


123 posted on 01/31/2013 5:45:41 PM PST by Wisconsinlady (The 2nd amendment is NOT about hunting-but protection from a tyrannical govt)
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To: FReepers; Patriots; FRiends; Jim Robinson; RedMDer; DJ MacWoW; Travis McGee; musicman; ...



If you think Obamacare and Gun Control are unrelated, think again!


Please Support Free Republic

124 posted on 01/31/2013 5:46:45 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: rhema

The ‘Affordable Care Act’ is not so affordable.


125 posted on 01/31/2013 5:51:23 PM PST by Amish with an attitude
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To: Gator113
Hello,

The moment I read that the SC had upheld ObamaCare, I said to myself: I am now a SLAVE.

MOgirl

126 posted on 01/31/2013 5:56:04 PM PST by MOgirl (STAND)
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To: rhema

I seem to remember during the original Hillarycare debate that someone said if it passed, within a few years people would be hunting Democrats down with dogs. They may be right.

I’m gonna have to get a good tracker.


127 posted on 01/31/2013 5:57:14 PM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: 2ndDivisionVet

Exactly. Spot on.


128 posted on 01/31/2013 6:04:06 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Envisioning

I sometimes like to remember 2009 when so many actually seemed to think that what was being planned was actually FREE health care. I marveled that anyone could be so ignorant as to think that. I recall telling some of the naive Obama voters that when it was all over there would be ZERO real health care for anyone except the very few elite at the top. They thought I was nuts.


129 posted on 01/31/2013 6:05:49 PM PST by RipSawyer (I was born on Earth, what planet is this?)
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To: rhema
In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.

And that is the really pertinent information left out of the first half of the article.

I'll be damned if that asshat in the Oval office will force me to buy anything. Especially something I do not need.

130 posted on 01/31/2013 6:08:26 PM PST by Bloody Sam Roberts (Here once the embattled farmers stood... And fired the shot heard round the world.)
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To: JDoutrider
RE:? When I go to the article there is a hyperlink that goes to the health care PDF. It's 73 pages and I've read through most of it looking for the details this thread is talking about. I want to use it to slap some reality into a few working libs I communicate with who are waiting for their free health care.
131 posted on 01/31/2013 6:10:42 PM PST by Baynative (I'm reading a book about anti-gravity. I can't put it down.)
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To: doug from upland
INSTEAD OF PAYING FOR ILLEGAL ALIENS, THEY SHOULD BE SENT HOME! HAVEN'T THEY FIGURED THIS OUT YET?

Oh, they've figured it out all right. Reduce the percentage of eeeeeevil white people, disrupt the social fabric, create more Dem voters (as if with massive election fraud they really need more), and help destroy the USA.

132 posted on 01/31/2013 6:20:06 PM PST by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: ConservativeInPA

There are no well intentioned Dems.


133 posted on 01/31/2013 6:21:53 PM PST by little jeremiah (Courage is not simply one of the virtues, but the form of every virtue at the testing point. CSLewis)
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To: mrsmith

Wowsa, that’s going to hurt a lot of people who are only trying to help someone in need.


134 posted on 01/31/2013 6:23:29 PM PST by Girlene
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To: stboz
Someday it will really suck to be Obama

Amen brother. You got that right.

135 posted on 01/31/2013 6:23:34 PM PST by Prince Caspian
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To: Jonty30

The plan is to get you to buy from the government and get pretty much nothing in return or pay the tax penalty and get nothing in return.


136 posted on 01/31/2013 6:32:54 PM PST by spudville
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To: Girlene

Imagine some one scrimping a few thousand to help their brother, son, niece or grandchild and now they have to come up with another 10 grand, +or- depending on their income!

It’s truly demonic... and nobody knows!


137 posted on 01/31/2013 6:36:44 PM PST by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Artcore

Me too. Im enjoying the ride to hell in my handbasket.


138 posted on 01/31/2013 6:44:12 PM PST by PA-RIVER
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To: RipSawyer

My understanding is subsidies for poor will be about 16,000. So if you make 20,000 per year, you may get the 20,000 plan for a few hundred bucks a year.


139 posted on 01/31/2013 6:49:11 PM PST by PA-RIVER
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To: COBOL2Java

Where is the queen’s wedding ring?


140 posted on 01/31/2013 6:52:49 PM PST by Bronzy
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To: rhema

I’m shocked!


141 posted on 01/31/2013 6:55:18 PM PST by cardinal4 (Constitution? What Constitution?)
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To: nascarnation
Well, I guess we can go to Cuba if we need surgery or something. It looks like they will soon have a better health care system than we do.

Thank you again Obama voters. The greatest health care system in the world is ruined. Way to go.

142 posted on 01/31/2013 7:01:05 PM PST by Pajamajan (Pray for our nation. Thank the Lord for everything you have. Don't wait. Do it today.)
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To: rhema

People will pay the tax penalty. $2,400 vs $20,000 - do the math.

There’s no incentive to buy private health insurance.


143 posted on 01/31/2013 7:03:29 PM PST by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Artcore

Thank you!!


144 posted on 01/31/2013 7:04:51 PM PST by RatRipper (Self-centeredness, greed, envy, deceit and lawless corruption has killed this once great nation.)
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To: steve86

I know for Medicare, under Affordable Health Care Act, hospitals will be penalized 1% of their Medicare payments for Inpatient Readmissions. In total, 2,211 hospitals will lose some part of their inpatient Medicare payments in FY 2013.


145 posted on 01/31/2013 7:09:29 PM PST by Engedi
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To: rhema

THIS IS WHY THEY WANT OUR GUNS.


146 posted on 01/31/2013 7:10:49 PM PST by gitmo ( If your theology doesn't become your biography it's useless.)
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To: Conservativegreatgrandma

“Everyone who voted for this crazy man deserves to be vilified.”

Pffft. I don’t even talk to my liberal brother. Plus, I fired every obama ass-kisser in our company..right after the election even! Left one alone just in case we get sued and she is our “evidence” we ain’t a bunch of right-wingers. What have you done lately?


147 posted on 01/31/2013 7:13:06 PM PST by max americana (Make the world a better place by punching a liberal in the face)
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To: machogirl

Illegals won’t pay a cent for it either!


148 posted on 01/31/2013 7:17:02 PM PST by MNDude (Guns don't kill people, Democrats kill people)
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To: rhema

Thanks Judge Roberts! Actually no thanks! This is all your fault for changing your vote!


149 posted on 01/31/2013 7:20:15 PM PST by rawhide
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To: MNDude

Nope. Exempt along with Congress, some Federal employees, prisoners, Native Americans, supposedly Armed Forces (and Veterans)...

“The Rules are for Thee, not for ME.”
“Let them eat cake.”


150 posted on 01/31/2013 7:24:36 PM PST by machogirl (First they came for my tagline)
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