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Old 02-01-2013, 08:38 AM  
petegz28 petegz28 is offline
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IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

(CNSNews.com) – 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
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Old 02-01-2013, 06:28 PM   #121
BigRedChief BigRedChief is offline
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Dude, you don't have to be that way. I have no idea if the article is BS or not but the mere possibility and the fact that numbers like this seems to be all I ever hear make it hard to believe otherwise. If you have other links please post them for me rather than putting up a dick post like that.
sorry dude it wasn't really directed at you. No idea why I quoted your post. Just an accident. Pinky swear.

The $ makes no sense. You can get top of the line health care on the open market for less than $10K a year.
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Old 02-01-2013, 06:29 PM   #122
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That clown is one of the most disingenuous posters here. Maybe it is due to being a big soft red head that got picked on his whole life...just a guess. It is the only conclusion I can come to knowing little about him less than his asinine posts and the picture of his goofy ass posted a while back. I will save you the typing...yes I just posted a as you call it "a dick post" and I did it because he warrants one~
I like BRC quite a bit and consider him a good friend. His post caught me off guard because it offered me nothing. I was really surprised he posted that to me.
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Old 02-01-2013, 06:30 PM   #123
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I am gonna pay $40,000 because congress and the insurance industry will do what is best with the extra.
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Old 02-01-2013, 06:32 PM   #124
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Originally Posted by Guru View Post
I like BRC quite a bit and consider him a good friend. His post caught me off guard because it offered me nothing. I was really surprised he posted that to me.
Thanks dude.

I was just reading the thread and thinking $20K is BS and your was the last post, hit quote instead of new reply. again, sorry. My bad.
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Old 02-01-2013, 06:33 PM   #125
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Originally Posted by BigRedChief View Post
Thanks dude.

I was just reading the thread and thinking $20K is BS and your was the last post, hit quote instead of new reply. again, sorry. My bad.
I'm good with that. Makes a hell of lot more sense now.

What numbers are you seeing for this?
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Old 02-01-2013, 06:34 PM   #126
RedNeckRaider RedNeckRaider is offline
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Originally Posted by Guru View Post
I like BRC quite a bit and consider him a good friend. His post caught me off guard because it offered me nothing. I was really surprised he posted that to me.
Thats cool, maybe he is an ok guy in person. From the shape shifting his does here I would bet him and I would not enjoy each others company. This is not a knee jerk reaction to a post from him. It is an evaluation derived from reading his posts for quite a longtime~
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Old 02-01-2013, 06:36 PM   #127
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Originally Posted by RedNeckRaider View Post
Thats cool, maybe he is an ok guy in person. From the shape shifting his does here I would bet him and I would not enjoy each others company. This is not a knee jerk reaction to a post from him. It is an evaluation derived from reading his posts for quite a longtime~
nah, You would like him just fine. He is a great guy to hang out with. This is just what DC does.
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Old 02-01-2013, 06:39 PM   #128
RedNeckRaider RedNeckRaider is offline
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nah, You would like him just fine. He is a great guy to hang out with. This is just what DC does.
Maybe so...not sold...but maybe
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Old 02-01-2013, 06:44 PM   #129
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I'm good with that. Makes a hell of lot more sense now.

What numbers are you seeing for this?
If you can get a top of the line healthcare plan on the open market without being in a group for $10K. Why would it cost double that for a group plan that offers less?

Again, these are Obamacare exchanges but its private insurance companies doing the selling, they are in it for the money, they are a business. who is going to buy their plan at twice what it costs to buy the same plan outside of Obamacare?

Makes no financial sense.
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Old 02-01-2013, 06:50 PM   #130
RedNeckRaider RedNeckRaider is offline
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Obamacare Makes no financial sense.
The rest of your post was unnecessary wear and tear on your keyboard. I removed the unneeded words from your post~
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Old 02-01-2013, 07:00 PM   #131
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There is no way this is true.

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Old 02-01-2013, 07:44 PM   #132
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Old 02-01-2013, 07:47 PM   #133
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That's exactly what I expected. Asking you that causes you to evaluate your life on this board as a regurgitating bag of vomit for right-wing hysteria. And you probably find it discomforting to realize that you can't think for yourself.
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Old 02-01-2013, 07:49 PM   #134
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It is pretty amazing...every single time with you. Good stuff.

I had never ever heard of CNS News and was curious about them. Read through the about section...ok interesting...looked at the company that owned them Media Research Center. Yea there it is...there is that classic Pete getting bullshit info from bullshit sources that tells him what he wants to hear.
The Media Research Center (MRC) is a conservative content analysis organization based in Alexandria, Virginia, founded in 1987 by conservative activist L. Brent Bozell III. Its stated mission is to "prove — through sound scientific research — that liberal bias in the media does exist and undermines traditional American values" and to "neutralize [that bias's] impact on the American political scene"
This forum is a fun place.
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Old 02-01-2013, 09:24 PM   #135
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Originally Posted by RedNeckRaider View Post
That clown is one of the most disingenuous posters here. Maybe it is due to being a big soft red head that got picked on his whole life...just a guess. It is the only conclusion I can come to knowing little about him less than his asinine posts and the picture of his goofy ass posted a while back. I will save you the typing...yes I just posted a as you call it "a dick post" and I did it because he warrants one~
You talking about me?


Oh wait lol
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