IRS Announces Roberts/ObamaCare to cost average family $20k yr

[Vette_Newb]

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 a family 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 examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze 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).”

http://cnsnews.com/news/article/irs-...e-20000-family

[C6 CRUZR]

When ObamaCare was ram-rodded through
and I saw that it would not be actually available until
after the election, I laughed my ass off.
If the cost details of this had been revealed
before the election, Romney would now
be president.

[Texdentist]

Originally Posted by C6 CRUZR

When ObamaCare was ram-rodded through
and I saw that it would not be actually available until
after the election, I laughed my ass off.
If the cost details of this had been revealed
before the election, Romney would now
be president.

I doubt it. We have pretty much reached the magic 51% "takers" mark where no one cares about bad policy. They only care about their check. Enforcement of this bill will be weak, at least in the beginning, and few will pay the penalty. But the checks will keep rolling as long as a Democrat is in charge.

[C6 CRUZR]

Originally Posted by Texdentist

I doubt it. We have pretty much reached the magic 51% "takers" mark where no one cares about bad policy. They only care about their check. Enforcement of this bill will be weak, at least in the beginning, and few will pay the penalty. But the checks will keep rolling as long as a Democrat is in charge.

I'm not so sure about that but I could be wrong.
As you indicated yesterday, you vote based on your
pocket book. The information I posted
yesterday indicates that those making $50,000 and up
a year do the same.
I suspect that those making $30,000 to $50,000
thought this was going to be a gift for them
and obviously it won't. We won't know for sure
until a couple more years but if it turns out
the way I think it will, this is going to be an
achilles heal for the democrats.

I can almost hear the speech Obama will give
in a couple years -

"When we passed the affordable care act, we based
the cost on on factors as we saw them at the time.
Obviously things change and when you are trying
to initiate a new program, there are going to
be some hiccups. I'm sure we can make this
work but we need the wealthy of this country
to help burden more of the costs. I am putting
together a "special commission" to study the costs
and they will make recommendations to
"streamline" this program to make it more
affordable for everyone."
Thank You & God bless the U.S.S.A.

[blckslvr79]

Originally Posted by C6 CRUZR

"When we passed the affordable care act,

I laughed as soon as I heard the politically aportioned name.

"Affordable Care Act". Any body with common sense knew at that point we were going to get fucked.

About as honest as "Ted Kennedy's Cab service for Single Ladies"....

[C6 CRUZR]

Originally Posted by blckslvr79

I laughed as soon as I heard the politically aportioned name.

"Affordable Care Act". Any body with common sense knew at that point we were going to get fucked.

About as honest as "Ted Kennedy's Cab service for Single Ladies"....

I am reminded of one of Ronald Reagan's best one
liners.

"The nine most terrifying words in the
English language are,
'I'm from the government and I'm here to help."

[grumpyvette]

http://cnsnews.com/news/article/irs-...e-20000-family

MINIMUM 20K per family per year estimates are hardly surprising as cost increases like these have ALWAYS been the result of government controls under socialism. remember the costs are not equally shared those WHO ARE PAYING FOR THE SYSTEM TO WORK<are supporting vast numbers who pay little or NOTHING
THE SOCIALISTS ALWAYS PROMISE FREE STUFF TO GET THE STUPID AND UN-INFORMED MASSES STALIN CALLED "USEFUL IDIOTS" TO TRADE FREEDOM, AND GAIN CONTROL, THEN ONLY AFTER< THEY GET THAT INCREASED CONTROL, DO YOU FIND OUT THE EXTENT YOUR SCREWED
ITS ALWAYS BEEN ABOUT INCREASED GOVERNMENT CONTROL AND WEALTH RE-DISTRIBUTION < NOT HEALTH CARE!

[ArKay99]

When all this ObamaCare crap came up I instinctly knew what was going to happen...and it did. Even a RINO like Ben Stein articulated what I feel...




...sad...what a bunch of 'wankers'. Al Queda was right...

[blckslvr79]

Originally Posted by ArKay99

Al Queda was right...

The U.S. will destroy itself from within.

[ArKay99]

Originally Posted by blckslvr79

The U.S. will destroy itself from within.

Come to think of it...That's why Obama went after Osama. Osama would've ruined ObamaCare.

[ddregehr]

Let's be realistic. I have a family of 4 and my children are 7 & 10 years of age. My health insurance has a $1000 deductible per person and 80/20 till $4,500. It is from BC/BS and I pay $14,400 a year in premium. Last year my plan payed out $115,000 in medical expenses due to surgeries. My out of pocket expense for the year was $4,500 + $14,400 = $18,900.

Under this new plan, I would still be penalized because I do not have adequate health insurance because I have not met the IRS minimum of $20,000. I thought I got a great deal last year! Can a Democrat explain to me how this is beneficial to self-employed workers like myself?

[Bill Davies]

Originally Posted by ddregehr

Let's be realistic. I have a family of 4 and my children are 7 & 10 years of age. My health insurance has a $1000 deductible per person and 80/20 till $4,500. It is from BC/BS and I pay $14,400 a year in premium. Last year my plan payed out $115,000 in medical expenses due to surgeries. My out of pocket expense for the year was $4,500 + $14,400 = $18,900.

Under this new plan, I would still be penalized because I do not have adequate health insurance because I have not met the IRS minimum of $20,000. I thought I got a great deal last year! Can a Democrat explain to me how this is beneficial to self-employed workers like myself?

The $20,000 was simply an estimate of what an average family plan will cost in 2016. I didn't find where it says you will be penalized if 2016 rolls around and you find a family plan that costs less than $20,000.

[Texdentist]

Originally Posted by ddregehr

Let's be realistic. I have a family of 4 and my children are 7 & 10 years of age. My health insurance has a $1000 deductible per person and 80/20 till $4,500. It is from BC/BS and I pay $14,400 a year in premium. Last year my plan payed out $115,000 in medical expenses due to surgeries. My out of pocket expense for the year was $4,500 + $14,400 = $18,900.

Under this new plan, I would still be penalized because I do not have adequate health insurance because I have not met the IRS minimum of $20,000. I thought I got a great deal last year! Can a Democrat explain to me how this is beneficial to self-employed workers like myself?

You used the magic words "self-employed" and "workers". The Dems don't give a rats ass about you if you fit either category unless you happen to pay union dues that get funneled straight to the Democratic Party. Then they care only enough to keep you happy enough to keep the funds flowing. I can't fathom why anyone who is not in a union or on the dole would vote for a Democrat. All they want to do is take what you have and give it to those two groups.

[ddregehr]

Originally Posted by Bill Davies

The $20,000 was simply an estimate of what an average family plan will cost in 2016. I didn't find where it says you will be penalized if 2016 rolls around and you find a family plan that costs less than $20,000.

Go back and read. Estimate my ass. They set the price and I need to fork over what they feel is necessary. PERIOD! Why do you think the Affordable Care Plan included hiring 60,000 more IRS agents?????? To sit on their thumbs spinning???? They are going to TAX middle America to death so they can give more to the poor and get more for themselves. We are screwed!

[Bill Davies]

Originally Posted by ddregehr

Go back and read. Estimate my ass. They set the price and I need to fork over what they feel is necessary. PERIOD! Why do you think the Affordable Care Plan included hiring 60,000 more IRS agents?????? To sit on their thumbs spinning???? They are going to TAX middle America to death so they can give more to the poor and get more for themselves. We are screwed!

The article states where the $20,000 number comes from...

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.

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

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 it says what the regulation is...

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.

So again, the $20,000 estimate of what the average family insurance premium in 2016 might be is just that. An estimate that was used in examples to help people understand how to calculate the tax. Not a hard number that you have to pay for insurance, "or else" in 2016.