Curious Barry's October Surprise for Hillary

American Thinker ^ | 10/31/16 | William A. Levinson

[Winged Hussar]

...The Collapse of the "Affordable" Care Act

The ACA is now visibly crashing and burning, with premium increases of up to 116% in Arizona along with access to far fewer insurance plans as insurance companies exit the market. This always happens when a country allows its purported leaders to substitute partisan ideology for physical, natural, or economic science.

What You Can Do about the ACA Mandate

This is also the open enrollment period for the so-called "Affordable" Care Act. If you have no serious pre-existing medical conditions and are willing to forego unhealthy lifestyle choices, you can opt out of the ACA by joining a health sharing system. This means you won't be carrying insurance executives' enormous salaries, which, in light of their unwillingness or inability to control premiums, are simply expensive welfare handouts disguised as high-level jobs.

I am not qualified to give tax or financial planning advice, but there does appear to be yet another way to opt out of the ACA without paying a tax penalty.

[Winged Hussar]

For most unpaid taxes, there are a variety of ways that the IRS can recoup their money. But the text of the ACA is very clear in stating that taxpayers who don’t pay their ACA penalty are not subject to levies, liens, or criminal prosecution. The only way that the IRS can collect the ACA penalty is if you pay it voluntarily, or if you’re owed a refund.

The federal government's own website confirms this: "The IRS will hold back the amount of the fee from any future tax refunds. There are no liens, levies, or criminal penalties for failing to pay the fee." Note, however, that future tax planning must be done with equal care because future refunds can be confiscated to cover an earlier penalty.

This suggests that you can avoid the penalty by planning your taxes (e.g., by making lower estimated payments) so you will be owed no refund from which it can be deducted. It's important to ensure that you pay enough during the year to equal either 90% of this year's tax bill or 100% of the previous year's, as there is a separate penalty for too little withholding. This means that if you expect to owe $4,000 in federal income tax, you must pay between $3,600 and $4,000 during the year as withholding and/or estimated tax (or no less than your total bill for the previous year) and pay any balance when you file your return.

[Mr. K]

You can opt out by claiming to be a muzzie or Amish

Dare them to prove you’re not

[Buckeye McFrog]

“I’m an Amish Muslim. You should be paying ME to enroll!”

[Grampa Dave]

Thanks, I was not aware of this. This info will be sent to our younger relatives with families with the out of control cost wise/Obama Care.

http://selfpaypatient.com/2013/12/13/make-that-five-sharing-ministries/

[catnipman]

Hmmm. Appears there’s a silver lining in every cloud: Weinergate is probably distracting voters somewhat from the massive financial hit they’re taking with obamacare.

[Liz]

Get ready for more of Boobamba's "community organizer genius."

TAKE ONE---Remember when Boobamba sued banks for denying
mortgages to bottom-feeders who could not possibly payback the loans?

Then as president, he sued banks for burdening bottom-feeders with mtge
loans they could not possibly payback.

TAKE TWO He dreamed up the ill-conceived ACA b/c insurance
companies denied healthcare to those who could not afford it.

Now he'll sue insurance companies for burdening people w/ usurious
healthcare rates that cant possibly pay.

[Mr. Douglas]

I opt out via the 8% rule. For us old people (my wife and I are 62), even the bronze plan is so expensive that its cost is over 8% of our taxable income. And living in rural KY, where you are “rich” if you earn more than $100k a year, this is a very sweet deal.

[CruiseMates]

I just moved from AZ to San Diego. The biggest scandal of ACA is not allowing cross-border competition. I have a FB friend still in AZ who posted her premiums were going up over 400% next year.

Here in CA my own plan would have gone up 40% - even with subsidies, to over $500/month. But my independent agent found a different policy that is much more reasonable. This is where cross-border competition could fix things immediately. ( “could”)

I will not lie - there is a sweet spot where ACA is very beneficial - older folks not yet on Medicare but with a low income. The tax subsidies are sweet and I hope Trump will not ruin that for me too soon.

Just “repeal and replace” is for me the one thing I don’t want to hear, BUT I have more faith in Trump not killing me with higher rates overnight than I would have had with other repubs who were in the primary.

This is where Mitt fell short in 2012 - he had no better alternative plan, especially for peeps with pre-existing conditions. I knew that would kill him and it did. I feel that was the one area where he lost, because at the time healthcare costs were outrageous for those with pre-ex conditions.

[NewJerseyJoe]

If you are a veteran, get enrolled in the VA healthcare system -- even if you have NO intention of ever using it. (Which may not be a bad idea, considering the horror stories we've been hearing for the last 5 years or so.)

Enrollment in VA healthcare is an automatic exemption from Obamacare. You can still shop around for the healthcare that's affordable for you, but you'll no longer be penalized.

[Secret Agent Man]

You can use one of 3 Christian Healthcare sharing groups.

[Mr. K]

Do you know if any of those are any good? expensive?