2014 health care

[oros35]

Info sent out by my employer:

"You Must Have Health Insurance – It’s the Law

The health care reform law requires all legal U.S. residents to have basic health insurance coverage. This part of health care reform is called the “individual mandate.” The individual mandate goes into effect in January 2014.


When you file your taxes, you’ll need to show you have some type of health coverage or can qualify for a credit. It could be an employer’s plan, a marketplace plan, or a Medicare or Medicaid plan. You also can buy coverage directly from an insurer through the traditional market.


If you don’t have coverage, you’ll pay a tax penalty that will get bigger over time. The tax penalty in 2014 will be $95 per individual and will increase to $695 per individual in 2016. For a family, the tax is capped at $285 in 2014 and will rise to $2,085 in 2016. Since it’s a tax penalty, the IRS will collect the penalty through tax returns.
While there is much uncertainty regarding health care reform, we will keep you updated on any new developments as they occur."

My employer is pushing going to the "Health Insurance Marketplace" as an alternate option for health care. Better for them, Govt subsidizes it rather than them.

[OverkillZJ]

It's such a cluster-F.

I'm spoiled as my wife is a teacher, and we're on crazy-good-public-benefits paid for by taxpayers - but I realize how skewed this system is.

I'm not surprised they're pushing the new "Marketplace" - benefits have long been a thorn in businesses sides. Most don't mind paying for it, but they do mind the overhead of managing it.

[highlandercj-7]

Thanks to the villiage idiot in charge, It's got my already jacked up ins plan even worse.

[SirFuego]

How is the tax penalty calculated? What happens if you have a temporary lapse in healthcare coverage?

And yet they delay the employer mandate until 2015. And from my understanding, employers will only need to provide it -- not actually pay (some of) it.

I pay 10% of my healthcare (individual for another month or two), so the total healthcare premiums (including my company's contribution) are about $260 bi-weekly ($6760/year). I think my company covers 50-60% percent of coverage for the rest of the family, so my calculations suggest about double that for a full family. My wife's company offers a stipend for opting out of their healthcare. Now granted, I have really good insurance at that cost, but there is no way even a cheap family plan in the marketplace is going to be remotely close to the $2085 family tax penalty cap for 2016, unless there are some significant gov't subsidies.

Speaking of which, have they actually decided on how the subsidies are going to work -- especially since the employer mandate is delayed by a year and thousands of employed people will need to go to the marketplace to avoid the tax penalty (which is admittedly way to low to sway anyone into getting insurance anyways)?

I'm so glad they rammed this legislation through Congress just because it was apparently such an incredible emergency for it to pass.

[SirFuego]

Looks like the tax penalty is the MINIMUM penalty you pay. The penalty is otherwise a percentage of your income.

http://money.cnn.com/2013/08/13/news...lty/index.html

[OverkillZJ]

^That's effing nuts.

[justin'sbig7]

just quit working all together and go on effing welfare. seriously. this guy has run this country so far into the shitter I have no faith that we can recover at all. why keep paying for the lazy? make no money (on paper) pay less penalty. its set up to help the leaches and tax evaders than the responsible people.

[Super Scout]

^ Yup, hell if you have a great job, with great benifits I believe you pay a penalty for that. People have no clue the shit storm that is coming, and they voted for it.

[2002wranglerX]

Info sent out by my employer:

"You Must Have Health Insurance – It’s the Law

The health care reform law requires all legal U.S. residents to have basic health insurance coverage. This part of health care reform is called the “individual mandate.” The individual mandate goes into effect in January 2014.


When you file your taxes, you’ll need to show you have some type of health coverage or can qualify for a credit. It could be an employer’s plan, a marketplace plan, or a Medicare or Medicaid plan. You also can buy coverage directly from an insurer through the traditional market.


If you don’t have coverage, you’ll pay a tax penalty that will get bigger over time. The tax penalty in 2014 will be $95 per individual and will increase to $695 per individual in 2016. For a family, the tax is capped at $285 in 2014 and will rise to $2,085 in 2016. Since it’s a tax penalty, the IRS will collect the penalty through tax returns.
While there is much uncertainty regarding health care reform, we will keep you updated on any new developments as they occur."

My employer is pushing going to the "Health Insurance Marketplace" as an alternate option for health care. Better for them, Govt subsidizes it rather than them.

I thought the tax was 1% of household income or the dollar amount, whatever was greater

[2002wranglerX]

just quit working all together and go on effing welfare. seriously. this guy has run this country so far into the shitter I have no faith that we can recover at all. why keep paying for the lazy? make no money (on paper) pay less penalty. its set up to help the leaches and tax evaders than the responsible people.

honestly at some point it's something my family will have to consider. especially if health insurance bills pile up because of it. at some point. **** it.

[justin'sbig7]

the problem I see is eventually the hard working folks like us ARE going to say **** it, its increasingly closer and I even find myself wondering why I get up and do it everyday as well as find it harder to start that drive in. when they no longer take in the amount of cash they need to keep the masses at bay with entitlements, were going to see some crazy shit. im tired of getting ****ed for being a go getter.

[Super Scout]

Oh dear.....and people say Atlas Shrugged isn't accurate.

[The_War_Wagon]

If you think healthcare is expensive NOW, just WAIT until it's FREE!

[justin'sbig7]

Oh dear.....and people say Atlas Shrugged isn't accurate.

True story bro

[PatF10]

great book!

[joshs1ofakindxj]

I so happy I'm not the first one in the threads anymore to ask, who is John Galt?