Posted on 12/14/2018 11:46:42 AM PST by Brian Griffin
Section 1401(b) of the Patient Protection and Affordable Care Act shall be replaced with:
‘‘(b) PREMIUM ASSISTANCE CREDIT AMOUNT.—For purposes of this section—
‘‘(1) IN GENERAL.—The term ‘premium assistance credit amount’ means, with respect to any taxable year,
the sum of the premium assistance amounts determined under paragraph (2) with respect to all coverage months
of the taxpayer occurring during the taxable year.
‘‘(2) PREMIUM ASSISTANCE AMOUNT.—The premium assistance amount determined under this subsection
with respect to any coverage month is the amount equal to the lesser of—
‘‘(A) the monthly premiums for such month for 1 or more qualified health plans offered in the individual market within a State
which cover the taxpayer, the taxpayer’s spouse, or any dependent (as defined in section 152) of the taxpayer and which
were enrolled in through an Exchange established under the Patient Protection and Affordable Care Act, or
‘‘(B) the excess (if any) of—
‘‘(i) the monthly maximum creditable amount for such month with respect to the taxpayer, over
‘‘(ii) an amount equal to 1/12 of the product of the applicable percentage and the taxpayer’s household income for the taxable year.
‘‘(3) OTHER TERMS AND RULES RELATING TO PREMIUM ASSISTANCE AMOUNTS.—For purposes of paragraph (2)—
‘‘(A) APPLICABLE PERCENTAGE.—
‘‘(i) IN GENERAL.—Except as provided in clause (ii), the applicable percentage with respect to any taxpayer for any taxable year
is equal to 2.8 percent, increased by the number of percentage points (not greater than 7)
which bears the same ratio to 7 percentage points as—
‘‘(I) the taxpayer’s household income for the taxable year in excess of 100 percent of the poverty line for a family of the size involved, bears to
‘‘(II) an amount equal to 200 per cent of the poverty line for a family of the size involved.
‘‘(ii) SPECIAL RULE FOR TAXPAYERS UNDER 133 PERCENT OF POVERTY LINE.—If a taxpayer’s household income for the taxable year is
in excess of 100 percent, but not more than 133 percent, of the poverty line for a family of the size involved,
the taxpayer’s applicable percentage shall be 10 percent.
‘‘(B) MONTHLY RATING AREA BASE AMOUNT.-The monthly rating area base amount with respect to the taxpayer shall be
[estimated for a 50-year old]
‘‘ based on the taxpayer's address in the rating area of the taxpayer's Exchange plan, for the month, when in
‘‘(i) the lower 48 states or DC, $600, plus only one, the highest, of the following:
‘‘(I) $60, if the May 2018 rating area of that address includes or touches metro DC/Chicago/Detroit/Cleveland,
‘‘(II) $100, if the May 2018 (individual market) rating area of that address is in an I-95 state along the DC to Canada corridor,
‘‘(III) $120, if the May 2018 rating area of that address touches the Mississippi River from Alton, Illinois south,
‘‘(IV) $200, if the May 2018 rating area of that address clearly had a population density of less than 10 people/square mile as per the 2010 census, or
‘‘(V) $100, if the May 2018 rating area of that address lacked a city of greater than 20,000 people as per the 2010 census,
‘‘(ii) Alaska, $1000, or
‘‘(iii) Hawaii, $750.
‘‘(C) MONTHLY RATING AREA ADJUSTED AMOUNT.-The monthly rating area adjusted amount with respect to the taxpayer shall be the sum of
‘‘(i) the monthly rating area base amount with respect to the taxpayer, plus
‘‘(ii) $20, if the rating area of the taxpayer's Exchange plan has/had less than three silver plan providers for January of the tax year, plus
‘‘(iii) $40, if the rating area of the taxpayer's Exchange plan has/had less than three silver plan providers for January of the tax year, plus
‘‘(iv) three percent per year for each whole calendar year since 2019, rounded to the nearest multiple of $10.
‘‘(D) MONTHLY MAXIMUM CREDITABLE AMOUNT-The monthly maximum creditable amount
with respect to any applicable taxpayer and their plan for a month shall be:
‘‘(i) a percentage equal to 2.5 times the age in years of the taxpayer,
but never more than 150% or less than 50% of the monthly rating area adjusted amount,
for self-only coverage, or for a family plan not purchased to cover at least two lawfully present persons, or
‘‘(ii) 200 percent of the monthly rating area adjusted amount, for a family plan, wherein all covered persons were lawfully present in the United States during the month.
Notes:
You might say it doesn't change much of anything and you'd be right.
All it does is give states an incentive to bring federal PPACA subsidy costs under control.
PPACA premium pain by state:
https://aspe.hhs.gov/system/files/pdf/260041/2019LandscapeBrief.pdf
45 CFR Part 147 rating areas:
https://www.cms.gov/cciio/programs-and-initiatives/health-insurance-market-reforms/state-gra.html
obamacare is a joke. It only looks at income, not net worth. You could be worth $10M and still be fully subsidized for health care.
Even better, obey the Constitution and throw these progressive trash “laws” to the curb along with all their illegitimate benefits.
I thought this was FR.
Maybe you meant to post this to some tax accountant website?
Can you show us some side-by-sides of what difference it would make to a working household?
“obey the Constitution”
This is the way the Founding Fathers tried to prevent Roman-style welfare:
“The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States”
Note, however, borrowing (and of selling off assets) had/has no such restrictions. And we are now about $21 trillion in debt.
“The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States”
The Article IV, Section 3 Congressional “power to dispose of” is the Constitutional power behind federal welfare funding. Congress disposes of its money (once yours) to the states and the states hand it out to individuals, families and social welfare institutions.
“Phrasal Verb: dispose of ....
“2. To give or transfer to someone else, especially permanently: She disposed of her estate among her heirs. He disposed of his memoirs to a research library.”
https://www.thefreedictionary.com/dispose+of
Amendment XVI gave Congress the power to levy income taxes without the restrictions of Article I, Section 8. That really made a really big federal welfare state possible.
It needs to be understood that our Constitution has defects.
Stopping a cancer from growing has great value.
“It only looks at income, not net worth. You could be worth $10M and still be fully subsidized for health care.”
A simplified student aid type expected contribution calculation could be crafted, based on FAFSA.
“there is considerable variation by state.
o Wyoming will have the highest average premium for the benchmark plan in PY19 ($709), the same average premium as PY18.
o Indiana will have the lowest average premium for the benchmark plan in PY19 ($280), a decrease of 2% from PY18 ($287).
o North Dakota will have the highest percentage increase in the average premium for the benchmark plan in PY19 ($375), an increase of 21% from PY18 ($310).
o Tennessee will have the greatest percentage decrease in the average premium for the benchmark plan in PY19 ($448), a decrease of 26% from PY18 ($608).”
My proposal attempts to reduce this variation.
Big money could be saved and better benefits bought by people in many states.
Wyoming needs to clean up its act. This proposal is meant to send a message to Cheyenne and elsewhere.
“Trends across Plan Years:
“The average monthly premium for the benchmark plan in PY19 ($405) will be 85% higher than in PY14 ($218).
o Nebraska will have the highest percentage increase in the average premium for the benchmark plan in PY19 ($686) relative to the first plan year, PY14 ($205), an increase of 235%.
o Indiana will have the lowest percentage increase in the average premium for the benchmark plan in PY19 ($280) relative to the first plan year, PY14 ($270), an increase of 4%.”
from the Landscape document linked to
“Maybe you meant to post this to”
Conservatives need to learn to write laws.
Conservatives need to learn to learn the value of changing the laws.
If only leftists write laws, taxation will be high.
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