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It is also one of the most misleading analyses I’ve ever read because it picks and chooses which facts to include and which to ignore. He doesn't give you the full picture.
First of all, let’s take a look at the example he uses of a 35-year old with a MAGI of $27,925. Where, exactly, did he come up with a monthly premium of $187.33 for the Silver level plan? The exchanges have not been finalized as of yet – they are intended to create competition between the providers offering coverage (there is no public option) – so where did this monthly premium come from for a plan that will not go into effect until 2014? Heck, most states haven't even set up their exchanges and have chosen to rely on the federal government to do it for them.
Secondly, the author fails to mention that this same person with a MAGI of $27,925 will also qualify for other offsets – yes, the plans are set up to provide a premium assistance tax credit based on the FPL, but they also include cost-sharing assistance which will limit a person's maximum out-of-pocket costs, and for some it will also reduce other cost-sharing requirements (i.e., deductibles, coinsurance, co-payments).
Thirdly, he fails to mention that although these deductibles are high, they qualify as High Deductible Health Plans (HDHPs) which qualify as Health Savings Account (HSAs) plans. Depending on where you live, these types of plans are already the norm (I live in the Northeastern part of the US and my own plan for the last three years has included a $2,500 deductible and 60/40 coinsurance). This means that the same individual paying this supposed “$183+” in single monthly premiums on a post-tax basis, will be able to set aside into his/her HSA and save paying taxes on $2,050 (double for family) because HSA contributions are made on a pre-tax basis. So not only will the $2,050 (applicable to the Silver plan) be deducted and set aside on a tax-free basis, but this individual’s net annual income on which he/she pays federal and state income taxes will be reduced from $27,925 to $25,872.
Where its true failure lies, however, is in the fact that it did nothing to address the ever increasing cost of healthcare in this country and until a law is passed which tackles this issue, we will all continue to suffer.
Originally posted by timidgal
the bottom line is that he can want a single payor system from today until the end of all time, but he knows that we do not have the money for it. Period.
Originally posted by Ghost375
Originally posted by xedocodex
Originally posted by usernameconspiracy
That's not true either. While the act does call for these taxes, it doe not in any way provide an avenue for the IRS to pursue collection. The fact remains that $187 a month for health insurance is a good price. Have you priced insurance lately? I bet you can't come up with comparable insurance for less than $400-500 a month.
Originally posted by Golf66
Originally posted by timidgal
the bottom line is that he can want a single payor system from today until the end of all time, but he knows that we do not have the money for it. Period.
Have you been watching the debt clock? Listen to him speak - I don't think he gives one hoot what we can actually afford.
I am fairly certain he is out to bankrupt the country. At least he's giving it a good run...
edit on 12/2/2013 by Golf66 because: (no reason given)
Originally posted by camaro68ss
Originally posted by jibajaba
opt out - if it's still an option.
cant, you'll get fined and thrown in jail, no joke.
Thats what we call freedom right?edit on 12-2-2013 by camaro68ss because: (no reason given)
Originally posted by Circumstance
This is what I suspected all along. Even if one does purchase the mandated health care insurance, in many cases the individual would find the deductibles unaffordable. The deductibles and co-insurance payments are ridiculous:
I won't even be filing income taxes anymore because of this, if it is integrated into tax returns, I haven't yet done mine this year, so I haven't seen tax return documents yet.... I know this sounds crazy, but I just won't participate in something, especially after seeing how this thing won't even actually give any practical benefits..
All it looks like so far is a huge cost, and I will never pay for anything that doesn't actually give me something in return for the money.. Usually when you buy something, you receive something. but all you get with this is looking like you will pay money then just get more bills sent to you.. I won't pay money just to receive more documents that tell me to pay even more money, even though I haven;t actually received anything of value.. I mean, who would even consider participating in that kind of a sham?
Not me... If they want to throw me in jail for that then so be it.. I won't be forced by anyone to pay for a scam like this..