Posted on 10/10/2015 2:08:12 AM PDT by Libloather
**SNIP**
For 2014, the penalties were relatively small. The minimum amount was $95 per adult and $47.50 per child, which, for large families, is capped at a total of $285. If your income is higher, though, then your penalty could be as much as 1% of whatever income you earn over the tax filing threshold. In general, individuals making more than $20,000 have had to pay a higher penalty than the base $95 amount, and families making above certain higher limits have had to pay more than the $285 cap.
This year, though, the penalty amounts are ratcheting up significantly. The corresponding per-person amounts soar in 2015 to $325 per adult and $162.50 per child, up to a family maximum of $975. But 2% of your household income above your tax filing threshold is higher, then that's generally what you'll owe.
2016: The worst year yet for Obamacare penalties The penalties reach their worst next year, with huge increases coming once again. The per-person charge in 2016 jumps to $695 per adult and $347.50 per child, topping out at a whopping $2,085 per family. The income-based penalty rises to 2.5%.
After that, increases will be more modest. The amount of the Obamacare penalty in 2017 and thereafter will be indexed to the Consumer Price Index, with maximums gradually rising over time.
(Excerpt) Read more at fool.com ...
Dr Ben will insure you are correct in your prediction
If not elected president, he will be the implementing leader
The lower-middle to mid-middle class takes it in the ass of course. 2.5% of income or pay the $400 to $1200 per month premiums PLUS those out of pockets.
It's an utter scam. Congress has the power to stop it in a heartbeat of course, now that it's a "tax" and no Congress is beholden to continue a law, or any provision therein, of a previous Congress. But the GOPe lied to us and they are FOR this fascist arrangement with crony insurance.
Even if is overturned in Congress, the RATs will sue all the way to the Supreme Court. And then, little Johnny and his merry band of senile b**tards will overturn Congress.
> Tens of millions have full faith in Obama and “Obamacare.” They think it will be there when they need it. You can’t fix stupid.
Oh sure it will be there when they need it...after you pay your $20,000 deductible, drug co-pays that are so high you can no longer eat or pay for housing, or to ensure they’re you’re no longer a burden to your family when you can no longer produce tax revenue. State sponsored eunesthasia is just one of the many benefits of Obamacare you won’t get anywhere else!
Thanks for clarifying.
“Socialism can’t survive in the atmosphere of freedom.”
Bingo. Self governance is the key. It isn’t about what set of fools you elect to lord it over you, its about how and whether you govern yourself.
Stop voting and start self governing.
Totalitariancare FORCED on the citizens of the republic and ENFORCED by their agents (IRS).
Socialism Is Legal Plunder - Bastiat
Plunder and death…the calling cards of socialists. Don’t get sick. Stay healthy my FRiends.
The basic premise of the article is all wrong. Even with these numbers, the ObamaCare "penalties" will still cost most people far less than an actual insurance plan. Family insurance plans in my state average about $14,000 per year. With numbers like that, it makes no sense for an uninsured person (rom a purely financial standpoint) to even consider buying insurance unless their annual income is north of $500,000.
1. The insurance industry is heavily regulated, which means there is always going to be an oversight role for the government. And in the case of medical insurance, even private insurance companies like the idea of government regulation because they can use it to justify the high premiums they charge to their customers.
2. The whole concept of "insurance" as we understand it is collapsing today. A real insurance policy covers something that happens infrequently (or never at all) but has ruinous financial implications if it ever does. Think of an auto insurance or homeowners insurance policy as a classic example of this. Medical care is the exact opposite. Claims on these policies occur with such boring regularity that it isn't really "insurance" at all: it's a prepayment plan with pools of people large enough to mask the fact that most of those paying the bills are getting screwed by those who have the highest medical expenses. Government force is the only way an industry could ever force people into an arrangement like this.
3. Once you have people with government-mandated "insurance" coverage and government-mandated medical procedures that these policies must pay for, one inevitable consequence is that insurance companies will end up covering a lot of people with enormous medical expenses. The insurance carriers can't legally kill them, so they'll rely on government-mandated euthanasia to fix this little inconvenient problem for them.
Totalitarians choose the stick over the carrot everytime... Good thing about this this ham-handed approach? It'll make it easier for Trump to junk Obamacare and replace it with something sane.
Unless Obie delays implementation...
The public seems too stupid and uninformed to care.
the presstitutes tell the public what is important. The goons in the government tell the presstitutes what to report. The root cause of the sad state of American stupidity is the presstitutes, not the public.
If the press was telling us the truth, then we would expect society would correct many of the problems we face today. But by the Presstitutes telling us BS, society just oscillates wildly.
The founders of our country gave the press power to keep the US government honest by having a ubiquitous press corps. What we have now, though, is a group of liberal loving fools who have no idea what an investigative reporter is supposed to do. The government tells the press and the press tells the public. Hussein Obama, America's first Muslim President, couldn't be successful in destroying America unless he owns the press.
We are so thankful we don't have to get involved in ObamaCare and Medicare. Serving in the military has had its advantages.
When the "market place" changed my plan without my permission (i.e. the all powerful gubermint entered me into a contract without my permission), I cancelled my Obamacare crap.
The outrageous cost of insurance with no real coverage unless I have a HUGE medical problem make it reasonable that I am now self insured. The penalty or tax or whatever the hell these clowns want to call it is insignificant compared to me simply cancelling and paying for my own band aides.
Plus, I have the satisfaction of not paying into another government scam operation. A few hundred $$ is peanuts compared to the thousands for the plans. Another factor is that I have NEVER filed a health care claim, only preventative care. I can easily pay all of that out of my pocket. What are the chances of me having a heart attack while I play Obama care Russian Roulette? IF it happens, I can afford it unless it turns into a long term crises.
Hussein Obama, America's first Muslim President's main job is to destroy America's economy. Obamacare (affordable care act) is a joke to anyone with an IQ much above dirt. And if the viewers IQ is that low, it will become obvious that there is nothing affordable when paying the premiums and the denied claims.
It's even better than that. If you have a long-term medical crisis while you are uninsured, you can simply sign up for insurance and you can't be denied coverage. That's another idiotic ObamaCare provision, which is basically the equivalent of allowing someone to buy a homeowners insurance policy after their house has already burned to the ground.
whoever comes in must get rid of it, and anyone who paid a penalty should be reimbursed with interest.
Exactly. My husband worries about the penalty, but it’s peanuts compared to premiums, which with the deductibles don’t actually even pay for any regular care.
Insurance only makes sense for big things, and should never be the norm for regular doctor visits. Billed costs don’t seem to have any basis in reality, since they are likely actually paying for other things, not the 1/2 hour the doctor spends with you, or a blood test or an x-ray.
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