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  1. #1

    Obamacare to cost average of $20 Thousand per family

    Thoughts? THIS IS GREAT YAY!

    (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.

    “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

  2. #2
    Scarab Lord Jaxi's Avatar
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    This might be a silly question, but the penalty does not apply if you're already covered under health insurance, yes?
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  3. #3
    They're not assuming anything. Its a number they're using for an example. Just the asshats and CNS being asshats.
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    Everyone is pro-US. They just don't know it yet.
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    A nice list of logical fallacies. In picture form!

  4. #4
    I'm just glad that I live in a country where this basic human right is practically free.

  5. #5
    A webpage completely formed around being a conservative new source. THAT sounds like a reliable and unbiased media outlet.

    retard.

  6. #6
    Quote Originally Posted by Wells View Post
    They're not assuming anything. Its a number they're using for an example. Just the asshats and CNS being asshats.
    It does use the word assumed and we all know what that means.

    I would guess a family of 4-5 probably pays at least $12k per year for health insurance today and thats probably a low estimate. I would expect that number to go up in 3 years since healthcare costs are currently rising very fast. It would go up even without Obamacare.

  7. #7
    You know it's fact when they don't even mention the actual name of the thing they are making an article about.
    Ricotta,Corleggy Retired.

  8. #8
    Even if these numbers are true - I'm not seeing a problem. People need to have health insurance - and it needs to be paid for.

  9. #9
    what kind of a person makes 120,000 and has no form of health insurance. get real. it even says in your post "2.5 percent of taxable income" so when the 'average' family who dont have healthcare makes between 40-50k 2.5% of taxable income is $1,000. your article is a joke. Dont spread misinformation, no reason to bring others down to your level.

  10. #10
    Immortal KrazyK923's Avatar
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    Conservative website lies about Obamacare?

    I CAN'T BELIEVE THEY---Zzzzzzzzzzzzz

  11. #11
    Quote Originally Posted by Jaxi View Post
    This might be a silly question, but the penalty does not apply if you're already covered under health insurance, yes?
    Assuming the health insurance you have meets the requirements (which it will most likely - but that's my assumption, and some might argue - for example it needs to cover birth control?), than you won't pay the penalty/tax.

  12. #12
    Quote Originally Posted by KrazyK923 View Post
    I CAN'T BELIEVE THEY---Zzzzzzzzzzzzz
    Made my day. Thanks.

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    Epic! RaoBurning's Avatar
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    Well, you spend more on band-aids than you do stitches, I guess.

    ^ Metaphorical. Allegorical?
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    to accept 0.999... = 1, you must accept math is right.
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  14. #14
    Please let this include posts from people talking about how "socialized medicine is evil!" and then blissfully touting that they have health insurance.

  15. #15
    Quote Originally Posted by Prokne View Post
    It does use the word assumed and we all know what that means.

    I would guess a family of 4-5 probably pays at least $12k per year for health insurance today and thats probably a low estimate. I would expect that number to go up in 3 years since healthcare costs are currently rising very fast. It would go up even without Obamacare.
    My anecdotal example is the most that my family has paid in health insurance in a year is about $5500. I'm married with 2 children, and that was through my work. I'm not sure about private health insurance(insurance not through employer), but employer-provided health insurance typically doesn't adjust based on number of children. I.e., I could have 20 kids, and my premiums would've still been $5500.
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    Man, there really should have been an Xzibit cameo in Inception.

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    Titan Adam Jensen's Avatar
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    Quote Originally Posted by s_bushido View Post
    Made my day. Thanks.
    I know. It's at the point now where the rest of us expect this type of bullshit.

    If a video game developer removed tumors from players, they'd whine about nerfing their loss in weight and access to radiation powers. -Cracked.com

  17. #17
    Moderator Stommped's Avatar
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    Quote Originally Posted by KrazyK923 View Post
    Conservative website lies about Obamacare?

    I CAN'T BELIEVE THEY---Zzzzzzzzzzzzz
    An article that makes it seem like Obamacare isn't the best thing since sliced bread?

    MUST BE LIES

  18. #18
    I am Murloc! Garnier Fructis's Avatar
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    Quote Originally Posted by Raidenx View Post
    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.
    HA! My family only has 3 members.
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    Mobius strip still has 2 sides. you can pinch 2 fingers on both sides of the ribbon at the same spot
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    You are a certified crackpot that is subservient to the manipulators of science who are dreaming to control knowledge.

  19. #19
    Quote Originally Posted by Tjaeden View Post
    People need to have health insurance - and it needs to be paid for.
    The health insurance industry has won, they've convinced people that health insurance is "needed."

  20. #20
    I think it's stupid that there's a "penalty" for not having insurance.

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