(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 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
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family | CNS News
Hey! America, consider yerselves "bronzed" you deserve it.
(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 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
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family | CNS News
Hey! America, consider yerselves "bronzed" you deserve it.
That was used as an example; it wasn't an actual estimate of the cost of any given plan. Prices will still vary by state, some being more expensive and some being much cheaper. Secondly, many families will be receiving tax credits that will cover much of the cost. We really will need to wait until the plan is fully implemented before we know how much insurance is going to cost for the long run. The idea that the cost will increase by more than 30% doesn't make much sense considering that many younger people will be forced to pay into the system. A lot of these people never paid in the past, so we are actually adding money to the insurance companies bottom line. On the flipside, the insurance companies will have to accept everyone, even those with pre-existing conditions.
This brings me to another point. I don't think anybody truly knows what the cost is to insure those with pre-existing conditions. There is an assumption that those with pre-existing conditions rack up a lot in medical bills. But here is the thing; all of these people were receiving some type of treatment for their conditions in the past, even without insurance. So who was paying for it? Nothing will change now that they are insured.
As another example, I will refer to myself as I have a pre-existing condition and am currently in the high risk pool. I have cirrhosis of the liver, but it is early stage. While I have tests done throughout the year and have an ultrasound done of my liver every year to check for cancerous tumors, the chance of it progressing is minimal. First of all, I didn't get cirrhosis from drinking; I have hemochromatosis, so iron was the culprit. But I no longer drink alcohol, and I quit smoking, and I eat a very healthy diet. I also work out and run. Since I quit smoking 18 months ago, I started running and can now run a 5K in under 22 minutes. 20 minutes is my goal for this year, and I will be 50 years old. My heart is in great shape despite the 30 years of smoking. My blood pressure is 110/65, and my resting heart rate is 45. My doctor says I should easily make it to 90, just based on my current health. But I'm high risk to insure? As for my insurance company, they pay for four doctor's visits per year, after I make my co-pay. All of my other medical expenses for tests falls under my deductible, so they probably pay out $500 per year off of my $4000 premium.
Now I realize that there are many people out there who are high risk and who do rack up some good size medical bills during the year, but many of them are maintenance costs, such as those that go along treating those with diabetes. I guess we shall see what happens in the long run, but I think long term, that we are going to see a stabilizing of premiums once everyone is paying into the system.
(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 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
IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family | CNS News
Hey! America, consider yerselves "bronzed" you deserve it.
That was used as an example; it wasn't an actual estimate of the cost of any given plan. Prices will still vary by state, some being more expensive and some being much cheaper. Secondly, many families will be receiving tax credits that will cover much of the cost. We really will need to wait until the plan is fully implemented before we know how much insurance is going to cost for the long run. The idea that the cost will increase by more than 30% doesn't make much sense considering that many younger people will be forced to pay into the system. A lot of these people never paid in the past, so we are actually adding money to the insurance companies bottom line. On the flipside, the insurance companies will have to accept everyone, even those with pre-existing conditions.
This brings me to another point. I don't think anybody truly knows what the cost is to insure those with pre-existing conditions. There is an assumption that those with pre-existing conditions rack up a lot in medical bills. But here is the thing; all of these people were receiving some type of treatment for their conditions in the past, even without insurance. So who was paying for it? Nothing will change now that they are insured.
As another example, I will refer to myself as I have a pre-existing condition and am currently in the high risk pool. I have cirrhosis of the liver, but it is early stage. While I have tests done throughout the year and have an ultrasound done of my liver every year to check for cancerous tumors, the chance of it progressing is minimal. First of all, I didn't get cirrhosis from drinking; I have hemochromatosis, so iron was the culprit. But I no longer drink alcohol, and I quit smoking, and I eat a very healthy diet. I also work out and run. Since I quit smoking 18 months ago, I started running and can now run a 5K in under 22 minutes. 20 minutes is my goal for this year, and I will be 50 years old. My heart is in great shape despite the 30 years of smoking. My blood pressure is 110/65, and my resting heart rate is 45. My doctor says I should easily make it to 90, just based on my current health. But I'm high risk to insure? As for my insurance company, they pay for four doctor's visits per year, after I make my co-pay. All of my other medical expenses for tests falls under my deductible, so they probably pay out $500 per year off of my $4000 premium.
Now I realize that there are many people out there who are high risk and who do rack up some good size medical bills during the year, but many of them are maintenance costs, such as those that go along treating those with diabetes. I guess we shall see what happens in the long run, but I think long term, that we are going to see a stabilizing of premiums once everyone is paying into the system.
The fact that there are subsidies to defray the cost does not change the fact that the costs will 10x be higher than Obama said they would.
All this talk about the government reminded me of a site I saw recently. They had some awesome Political Tshirts
EpicDelusion DOT com
