Skip to comments.IRS issues final rules on Obamacare's 'individual mandate'
Posted on 08/27/2013 2:28:13 PM PDT by mdittmar
(Reuters) - The Internal Revenue Service issued final rules on Tuesday for the individual mandate of President Barack Obama's healthcare overhaul, one of the most contentious elements of the U.S. law set to go into effect next year.
A centerpiece of Affordable Care Act, also known as Obamacare, is a requirement that all individuals carry some minimum health insurance or pay a tax. The new system aims to provide insurance through state marketplaces and subsidies for tens of millions of Americans who lack it.
If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per person per year or 1 percent of income in 2014, whichever is greater, and eventually reaching $695 per person or 2.5 percent of income by 2016.
The IRS, which is administering parts of the law involving revenue collection, released the final rules spelling out the details of what constitutes minimum essential coverage, and how individuals are responsible for spouses, children and other dependents, among other topics.
(Excerpt) Read more at reuters.com ...
What does that mean,if union members don't want to buy health insurance that get a pass?
I ain’t mandated to do sh!t
So the penalty on a guy making 100K would be $1,000! This is absurd. If you’re trying to care for a family on 40K, you likely can’t afford $400!
This is the legislative fee that became a tax after Chief Justice Roberts turned Marxist.
Obama’s making unions exempt from the mandate.
Just as some of us predicted when they whined. Nice work if you can get it.
So - let’s recap. Unions, most of which are public sector have the ability to negotiate for higher wages - paid by John Q Taxpayer. They are also exempt from penalties surrounding Obamacare, so that they can keep their old plan (which John Q Taxpayer pays for).
It’s Soetoro-Boehner tax.
Supporters of the Democratic Party are the new aristocracy, exempt from most laws and many taxes.
The rest of us are just serfs to be squeezed to pay for Michelle Antoinette's shopping expeditions, or to have the First Dog airlifted to Martha's Vineyard.
In Illinois and Michigan, your serfdom is established by law-- the state constitutions forbid the state government from reneging on pension plans.
Serfs will have to work until the die on the job so the former New Trier school superintendent can keep his $250K per year pension-- a lifetime of "public service" or servicing the public.
“If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per person per year or 1 percent of income in 2014, whichever is greater, and eventually reaching $695 per person or 2.5 percent of income by 2016.”
So If you make 130K and you don’t have insurance your penalty will be $1300.00 in 2014 and 2016 in $3250.00.? I am not sure if it is per person either.
So much for the cheap penalty.
IRS Obamacare motto: “Selective enforcement of the law R us.”
Full time at minimum wage the first year fine is $150.80.
That is less than a week’s pay but a lot to a MW worker.
And they still don’t have insurance.
AND they are probably kinda p.o.ed about the whole deal...
Any RINO that votes to fund this crap need a ride on a rail . Do no fund obama care in the continuing resolution or you WILL BE PRIMARIED!!
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
$95? Ha ha ha ha ha ha!!!!!
1% of $100,000 is $1,000.00, about 1/8th the cost of a personal policy. Totally worth paying the penalty, and telling Uncle Sugar to pound sand.
But really, I'd do nothing and let the Feds try to catch me. Lots of Civil Disobedience ought to be employed by the Yutes.
My guess is that it will be deducted x/paycheck so it ends up as just another line on the deductions. People just look at the net pay and carp about the rest.
Be sure to UNDERWITHHOLD on your income tax.
The only method in the law for the IRS to enforce is to garnish income tax REFUNDS.
Your guess is correct.
So don't be surprised if it comes right out of your pay.
“.If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per... “
A penalty they cannot enforce. I just love it.