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Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

  1. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to UserName99's comment:

    Is there an article to read, or are we supposed to comment on tvoter's thread title?

    I don't know why the originl post was removed, but I readthe same article.  IT is out there, it should not take you long to find it.

    I guess as the truth about the destructive cost of Obamacare starts to leak out we are going to see a rash of Cost-deniers.

     
  2. You have chosen to ignore posts from 12-Angry-Men. Show 12-Angry-Men's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    The relevent IRS proposal:

     

    (D) Examples. The following examples illustrate the application of this paragraph (e)(3). Unless stated otherwise, in each example, each individual's taxable year is a calendar year, the individual is ineligible for any other exemptions described in this section for a month, the rate of premium growth has not exceeded the rate of income growth since 2013, and the individual's employer offers a single plan that uses a calendar plan year and is an eligible employer-sponsored plan as described in §1.5000A-2(c).

    Example 1. Unmarried employee with no dependents. Taxpayer A is an unmarried individual with no dependents. In November 2015, A is eligible to enroll in self-only coverage under a plan offered by A's employer for calendar year 2016. If A enrolls in the coverage, A is required to pay $5,000 of the total annual premium. In 2016, A's household income is $60,000. Under paragraph (e)(3)(ii)(A) of this section, A's required contribution is $5,000, the portion of the annual premium A pays for selfonly coverage. Under paragraph (e)(1) of this section, A lacks affordable coverage for 2016 because A's required contribution ($5,000) is greater than 8 percent of A's household income ($4,800).

    Example 2. Married employee with dependents. Taxpayers B and C are married and file a joint return for 2016. B and C have two children, D and E. In November 2015, B is eligible to enroll in self-only coverage under a plan offered by B's employer for calendar year 2016 at a cost of $5,000 to B. C, D, and E are eligible to enroll in family coverage under the same plan for 2016 at a cost of $20,000 to B. B, C, D, and
    E's household income is $90,000. Under paragraph (e)(3)(ii)(A) of this section, B's required contribution is B's share of the cost for self-only coverage, $5,000. Under paragraph (e)(1) of this section, B has affordable coverage for 2016 because B's required contribution ($5,000) does not exceed 8 percent of B's household income
    ($7,200). Under paragraph (e)(3)(ii)(B) of this section, the required contribution for C, D, and E is B's share of the cost for family coverage, $20,000. Under paragraph (e)(1) of this section, C, D, and E lack affordable coverage for 2016 because their required contribution ($20,000) exceeds 8 percent of their household income ($7,200).

    Example 3. Plan year is a fiscal year. (i) Taxpayer F is an unmarried individual with no dependents. In June 2015, F is eligible to enroll in self-only coverage under a plan offered by F's employer for the period July 2015 through June 2016 at a cost to F of $4,750. In June 2016, F is eligible to enroll in self-only coverage under a plan offered
    by F's employer for the period July 2016 through June 2017 at a cost to F of $5,000. In 2016, F's household income is $60,000.
    (ii) Under paragraph (e)(3)(ii)(C) of this section, F's annualized required contribution for the period January 2016 through June 2016 is $4,750 ($2,375 paid for premiums in 2016 x 12/6). Under paragraph (e)(1) of this section, F has affordable coverage for January 2016 through June 2016 because F's annualized required contribution ($4,750) does not exceed 8 percent of F's household income ($4,800). (iii) Under paragraph (e)(3)(ii)(C) of this section, F's annualized required contribution for the period July 2016 to December 2016 is $5,000 ($2,500 paid for premiums in 2016 x 12/6). Under paragraph (e)(1) of this section, F lacks affordable coverage for July 2016 through December 2016 because F's annualized required contribution ($5,000) exceeds 8 percent of F'™s household income ($4,800).

    Example 4. Eligibility for coverage under an eligible employer-sponsored plan and under government sponsored coverage. Taxpayer G is unmarried and has one child, H. In November 2015, H is eligible to enroll in family coverage under a plan offered by G's employer for 2016. H is also eligible to enroll in the CHIP program for 2016. Under paragraph (e)(3)(i) of this section, H is treated as eligible for coverage
    under an eligible employer-sponsored plan for each month in 2016, notwithstanding that H is eligible to enroll in government sponsored coverage for the same period.    

     
  3. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to tvoter's comment:

    In response to MattyScornD's comment:

     

    In response to tvoter's comment:

     

    In response to MattyScornD's comment:

     

    Right now, it's about $15,000 for a decent family health plan.

    What is a "few years"...?  Because I could see $20k in maybe 7 years...2020. 

     

    2015 was the year

    Right now I pay 7,800.00 a year (through employer) for a family of 4 and a good plan with fair deductibles, dental, vision, and medical. I actually could have went cheaper with higher deductibles.

    [QUOTE]

    And how much does your employer pay into that plan?  

    Add both contributions, and you have a rough estimate of the total annual premium. 

     




    They pay half. The problem is small businesses will have to find ways to eliminate this cost either through cutting hours and having more part time employees, cutting staff or just paying the fines and not providing insurance.

     

    Most small businesses live on very small margins!!



    There you go...about $15,000 for a family policy.

    Then, small businesses can do what they have to, but skilled people will go where the benefits are.

    And if the business is on such a small margin, then maybe they shouldn't be in business.  Not all business deserves to succeed, and not everyone can work for themselves.

    Most small businesses employ only a handful of people anyway, including the owner(s), and thus would be exempt.

    In fact, some truly small businesses would get a tax credit under O-care, so huzzah for them...!!

     

     

     

     

     
  4. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to WhatDoYouWantNow's comment:

    The only valid question in this thread, at the end of the day, is whether or not the penalty threshhold is unfair when applied to self-employed persons and small businesses. If so, what should be done about it.



    I think it will depend upon which state they're in.  Lots of small businesses will get tax credits. Others can purchase cheaper insurance in groups through the exchanges...at any rate better than what they can get on their own.

    The problems will be in states that don't regulate their own exchanges to suit their tax base.  Those states are just begging for the feds to come in and wipe their noses for them.

    I also think it will have the effect of eliminating some of the fly-by-night operations and crooked sub-contractors, but that's just a hunch.

     

     
  5. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to MattyScornD's comment:

     

    Then, small businesses can do what they have to, but skilled people will go where the benefits are.

    And if the business is on such a small margin, then maybe they shouldn't be in business.  Not all business deserves to succeed, and not everyone can work for themselves.

    Most small businesses employ only a handful of people anyway, including the owner(s), and thus would be exempt.

     



     

    According to the SBA a small business is one with less than 500 people!!

    So, your ok with 10k of thousands losing their job and/or medical insurance because <20% of the population didnt like the old system where >80% were happy with their medical insurance.

    Now maybe 30% will be left uninsured and/or unemployed! Real unemployment is estimated at 14% and how many people wrok part time with no insurance??

    This is the disaster we get when one party has a super majority!!

     
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  7. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to MattyScornD's comment:

    [QUOTE] 

    Right now, it's about $15,000 for a decent family health plan.

    What is a "few years"...?  Because I could see $20k in maybe 7 years...2020. 

    [QUOTE]

    Wait a minute!! The reason for overhauling the heathcare system was because costs were too high. Now going up a few more thousand a year is ok?

    fvcking incredible!!

     


     

     
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  10. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to Newtster's comment:

    Didn't Obama say that this program was going to save the average American family something like $3,000 a year??



    BOOM!!

    Now it's not about that anymore!!

     
  11. This post has been removed.

     
  12. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to tvoter's comment:

    In response to MattyScornD's comment:

     

    Then, small businesses can do what they have to, but skilled people will go where the benefits are.

    And if the business is on such a small margin, then maybe they shouldn't be in business.  Not all business deserves to succeed, and not everyone can work for themselves.

    Most small businesses employ only a handful of people anyway, including the owner(s), and thus would be exempt.

     



     

    According to the SBA a small business is one with less than 500 people!!

    So, your ok with 10k of thousands losing their job and/or medical insurance because <20% of the population didnt like the old system where >80% were happy with their medical insurance.

    Now maybe 30% will be left uninsured and/or unemployed! Real unemployment is estimated at 14% and how many people wrok part time with no insurance??

    This is the disaster we get when one party has a super majority!!



    Not true.  250-500 people is a mid-sized business.  The SBA designation makes no difference anyway to the argument.  The law specifies businesses with 50 or more people.  The majority of "small businesses" have less than 5-10 employees.

    When you say "80%", that's only the people who actually had insurance; the rest had none at all.  Now, some of them will, and the larger pool of insureds will help bring down costs for everyone, but that's only part of it.

    Thousands of layoffs happen every day.  They're not all due to Obamacare.  Most are just poorly run businesses.

     
  13. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to MattyScornD's comment:



    Not true.  250-500 people is a mid-sized business.  The SBA designation makes no difference anyway to the argument.  The law specifies businesses with 50 or more people.  The majority of "small businesses" have less than 5-10 employees.

    [QUOTE] 

    "Most small business is 5-10 employees"??? what planet do you live on???


    The SBA is THE federal govt organization that determines what a small business is!!

    SBA defines a small business concern as one that is independently owned and operated, is organized for profit, and is not dominant in its field. Depending on the industry, size standard eligibility is based on the average number of employees for the preceding twelve months or on sales volume averaged over a three-year period. Examples of SBA general size standards include the following:

    • Manufacturing: Maximum number of employees may range from 500 to 1500, depending on the type of product manufactured;
    • Wholesaling: Maximum number of employees may range from 100 to 500 depending on the particular product being provided;
     
  14. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to tvoter's comment:

    In response to MattyScornD's comment:



    Not true.  250-500 people is a mid-sized business.  The SBA designation makes no difference anyway to the argument.  The law specifies businesses with 50 or more people.  The majority of "small businesses" have less than 5-10 employees.

     

     

     

    "Most small business is 5-10 employees"??? what planet do you live on???


    The SBA is THE federal govt organization that deytermines what a small business is!!

    Not for the health care law, they aren't.   

    Most small businesses will receive a tax credit due to being too small. 

    Planet Earth:

    "Of the 5,369,068 employer firms (in 1995), 78.8 percent had fewer than 10 employees, and 99.7 percent had fewer than 500 employees."

     

     
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  16. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to MattyScornD's comment:

    "Of the 5,369,068 employer firms (in 1995), 78.8 percent had fewer than 10 employees, and 99.7 percent had fewer than 500 employees." 

     

     

    I agree that small business make up that percentage with that definition of a small business.

    Definitely not 5-10 employees

     

    What is a small business?

     

    The Office of Advocacy defines a small business as an independent business having fewer than 500 employees. For the small business definition by industry used in government programs and contracting, see

    www.sba.gov/content/small-business-size-standards.


     

     

     

     
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  18. You have chosen to ignore posts from MattyScornD. Show MattyScornD's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    In response to tvoter's comment:

    In response to MattyScornD's comment:

     

    "Of the 5,369,068 employer firms (in 1995), 78.8 percent had fewer than 10 employees, and 99.7 percent had fewer than 500 employees." 

     

     

     

     

    I agree that small business make up that percentage with that definition of a small business.

    Definitely not 5-10 employees

     

    What is a small business?

     

    The Office of Advocacy defines a small business as an independent business having fewer than 500 employees. For the small business definition by industry used in government programs and contracting, see

    www.sba.gov/content/small-business-size-standards.



    No, you don't get it.  Those ~ 6 million businesses ARE the ones defined as "small businesses" as you say, < 500 EEs.

    And nearly 80% of those have 10 employees or less.  These are facts.

    Overall, businesses with less than 20 employees account for about 20% of all employment.

     

     

     

     
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  20. You have chosen to ignore posts from skeeter20. Show skeeter20's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    Keep in mind that this $20k "estimate" is for the bronze plan.  If you actually want coverage, well, that'll cost you more.

     
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  22. You have chosen to ignore posts from portfilio. Show portfilio's posts

    Re: Minimum Obamacare plan for a family in a few years will be 20,000 a year states the IRS!

    The faces of Obamacare:

     

    https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT29oD9p9N_pS1S99Y5b4l0G7x3HhJtU06a_AEpCfCGL9aD8EwZLA

     

    https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcTik15GxWScUQLTp-CZsK0VHlFwHFUUZxEHWANaIL1dxVwuVqDwTg

     

    https://encrypted-tbn2.gstatic.com/images?q=tbn:ANd9GcTA3K50_SQ2oWQgTP4vAuOVzhEZFw58JHFbQeWTi_cYOF1z4HMYWQ

     

     

    Let these innocents know that Obamacare is not necessary or desirable.

     

     

     
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