Posted on 10/03/2013 5:31:58 PM PDT by Oldeconomybuyer
Leslie Foster, a 28-year-old freelance filmmaker in Hollywood, Calif., is among the first wave of enrollees in new insurance plans under the federal health law.
Because he earns only about $20,000 a year doing freelance videography and odd jobs, Mr. Foster qualifies for federal subsidies that cut deep into the premiums for health plans available in the new marketplaces, which opened Tuesday morning.
The total monthly premium is $213.68 according to an online confirmation page Mr. Foster retained for his records. But the subsidies will cover more than $150 of those costs.
Mr. Foster's enrollment won't formally be complete until the health plan contacts him with billing information, according to the receipt. He will have to pay his first month's premium in December, he said.
(Excerpt) Read more at online.wsj.com ...
Someone like that could be making multiples of $20K, but because he's a freelancer he's found a way to make most of it tax deductible. Buy computers that can be expensed, then -- just before two years are up -- donate them to charity, deducting the full original price. Lease a car and only use it for "business". Rent an office (fully deductible) and sleep on the couch so you don't have to pay regular rent. Whenever you travel, make sure you take you video equipment along so the trip is tax-deductible.
If they tried that here, the SEIU and ACORN folks would have folks rioting in the streets!
That just makes way too much common sense.
“...he earns only about $20,000 a year doing freelance videography and odd jobs,
The plan he picked covers a middle-of-the-road slate of benefits. It has a $2,000 deductible and $45 copays for physician visits”
The insurance co won’t kick in a cent until he meets his deductible, provided that he keeps up with his premiums. Because he is low income, he is at higher risk of non-payment; most clinics will likely require payment at the time of service. Otherwise, clinics will waste too much money in collection efforts which will cancel out any profit margin.
What is worse than the subsidies is that the policy for subsidized enrollees is substantially different and better than policies for the un-subsidized at the same monthly premium.
Leslie Nielsen’s parents.
He’s probably earning about $80,000 to $100,000 a year doing non-reported jobs. A few cash only discounted weddings to Hollywood stars or wannabees, etc.
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