Posted on 11/10/2014 8:47:20 AM PST by justlittleoleme
On November 4, 2014, the Internal Revenue Service (“IRS”) announced that it intends to close a perceived “loophole” in health care reform. This so-called loophole allows employers to offer low cost health plans that don’t cover inpatient hospitalization services or physician services (or both). If that coverage were treated as “minimum value” coverage, then employers could avoid all pay-or-play penalties with low cost coverage and covered individuals would not be able to benefit from premium assistance or subsidies in the health insurance Marketplace.
What does this IRS Notice Mean?
Once this new rule is final, it means that Non-Hospital/Non-Physician Services Plans will not be treated as “minimum value” plans for premium subsidy purposes or pay-or-play purposes. Therefore, even if individuals have this coverage, they could go to the Marketplace and get a premium tax credit or subsidy. In turn, that could subject an employer to a “B” penalty (the $3,000 “unaffordable coverage” penalty), as the plan will not provide minimum value. Employers presumably could still avoid the “A” penalty for failing to offer coverage to at least 95% of full-time employees (70% in 2015).
(Excerpt) Read more at erisapracticecenter.com ...
More job closings to be announced.
yeah, hows this for a minimum plan? YOURE FIRED!!!
The irs can’t close a loop hole in the law. The law is the law
If that were possible, it would be possible for citizens to detain IRS loophole closers for indefinite periods
I fear that the way it is written, Obamacare is a law which empowers Federal agencies to “re-legislate” at will.
just watch them. Under this administration, and no thanks to congress or the Supreme court, laws are nothing more than words on parchment and we the people are just obstacles to those in DC and the oligarchs who own them.
#YOUCANKEEPITGATE
America needs to close the IRS loophole permanently by abolishing it.
Defund the IRS. That should make the Obamacare monster go away.
Revolution is the only answer. We need to remind the government who they represent.
There goes my CVS Mini-Clinic plan.
And, it was a good one too. I could get a broken arm set, the pain meds, a tube of Penetration H and a bag of Circus Peanuts at the same place.
That’s what I was wondering-since when does the IRS define the law?
How about the IRS close the “loophole” on criminal political corruption within its own ranks by looking for Lois Lerner’s emails?
The IRS sees itself as above the law — they take finances and property without due process [that is, jury trial] and have been given so much latitude that they can at-will declare tax-shelters void even if they are provided for by law.
If that were possible, it would be possible for citizens to detain IRS loophole closers for indefinite periods
That may need to happen.
The IRS now owns health care.
America is totally screwed.
I am getting my **** together so I can flee.
Seriously. It's time.
I agree that the evils we suffer are quickly becoming more than is sufferable; I think there is one last way to head off another revolution: an Article V amendment convention.
We could add amendments to reform the tax system (specifically disallowing withholdings and seizing of property/money w/o a jury-trial [and explicitly acknowlidging the power of the jury to forgive any debt the defendant owes]), and limiting the Congress in the debts it's allowed to assume [or force states to assume]. I have a working copy of such amendments here.
To paraphrase Homer Simpson, “Mmmmmmm...circus peanuts.”
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