Posted on 09/25/2013 12:22:16 PM PDT by Dysart
This tool illustrates health insurance premiums and subsidies for people purchasing insurance on their own in new health insurance exchanges (or “Marketplaces”) created by the Affordable Care Act (ACA). Beginning in October 2013, middle-income people under age 65, who are not eligible for coverage through their employer, Medicaid, or Medicare, can apply for tax credit subsidies available through state-based exchanges.
(Excerpt) Read more at kff.org ...
Obviously you need to have a lower income and NOT be a primary Mediscare or Medicaid subscriber, nor eligible under your employer's plan. As it is many will be paying into the system [others will choose not to do so] only to be getting back varying amounts of funds while administrative costs accrue to the burgeoning government beast.
These costs are to be offset by "beneficiaries" via rationed health care services [typically realized in similar schemes by delaying or denial of the full array of healthcare services as well streamlining networks by restriction of patient choice] and a vast cost shifting stratagem on the backs of the taxpayers and those privately insured. As I understand it income will not be verified but estimated for the first year at least while presumably the army of enforcers gets up to speed.
The most obvious immediate negative impact is economical, but there will be myriad unnecessary suffering/deaths consequent to this catastrophe, and that's plainly more alarming. Ted Cruz knows, and he fights. Most of his colleagues also are wise to this and yet they stand idly by...2014 and 2016 can't arrive soon enuff.
http://pjmedia.com/blog/obamacares-cool-calculator-work-disincentives-like-weve-never-seen-before/
http://pjmedia.com/blog/the-wedding-tax/?singlepage=true
Tried the calculator....our coverage costs would increase by 100%.
I recently lost my job. The company I worked for made an error filling out the unemployment claim response, so I wasn’t able to receive unemployment. I contacted the department of employment security and explained the issue. They suggested the company resubmit my paperwork. So they did, this time corrected. They also sent a letter indicating that the initial paperwork was a mistake.
So, if you are following...
1. I say I should receive unemployment
2. My company has corrected the initial error and says that I should be receiving unemployment
3. We followed the bureaucracy’s instructions
Guess what? They say that despite the unintentional error on my old company’s part, I must still wait 6-8 weeks for some bureaucrat to “adjudicate.”
Imagine if this was for a immediate health need.
Results
In general, employees who are offered insurance through work are not eligible for subsidized exchange coverage, so long as their insurance meets specified requirements. You would only be eligible for subsidized exchange coverage if your income is between 1 and 4 times the federal poverty level and you would have to pay more than 9.5% of your household income for your own coverage through the insurance offered by your employer.
If my employer drops coverage, my cost will go up by about 400% to nearly $1000 peer month.
Try an income of $0
Your subsidy is $0
Your premium is $8,130 (odd since the zip code is 78130)
I think this site must be a fraud or broken or something
:p
A family of three - two parents middle forties, one child under 21 all non tobacco users making 60K a year would have to spend 5400 bucks with no subsidy in MN.
Someone making $50,000 will be hit by $13,000 in premiums but wait, the government (other taxpayers) will pay more than $10,000 of that. 83% of the premium is paid by others.... insanity
......
Household income in 2014: 158% of poverty level
Unsubsidized annual health insurance premium in 2014: $12,951
In most states, insurers can charge a tobacco surcharge of up to 50% of your total premium before the tax credit. The tax credit cannot be applied to the tobacco surcharge.
Maximum % of income you have to pay for the non-tobacco premium, if eligible for a subsidy:
4.38%
(before accounting for a tobacco surcharge, if applicable)
Amount you pay for the premium:
$2,190 per year
(which equals 4.38% of your household income and covers 17% of the overall premium)
You could receive a government tax credit subsidy of up to:
$10,761
(which covers 83% of the overall premium)
Since Justice Roberts said this is a federal tax, why can’t it be deducted like FICA?
Someone with theoretical income of zero would be shunted into Medicaid. Really, they already would be unless they were muslim or amish or some other extraordinary reason not pertaining to means-tested eligibility.
That’s above my pay grade.
The information below is about subsidized exchange coverage. Note that subsidies are only available for people purchasing coverage on their own in the exchange (not through an employer). Depending on your state’s eligibility criteria, you or some members of your family may qualify for Medicaid.
Household income in 2014:
307% of poverty level
Unsubsidized annual health insurance premium in 2014:
$5,384
Maximum % of income you have to pay for the non-tobacco premium, if eligible for a subsidy:
9.5%
Amount you pay for the premium:
$5,384 per year
(which equals 8.97% of your household income and covers 100% of the overall premium)
You could receive a government tax credit subsidy of up to:
$0
(which covers 0% of the overall premium)
Bronze Plan
The premium and subsidy amounts above are based on a Silver plan. You have the option to apply the subsidy toward the purchase of other levels of coverage, such as a Gold plan (which would be more comprehensive) or a Bronze plan (which would be less comprehensive).
For example, you could enroll in a Bronze plan for about $4,023 per year (which is 6.71% of your household income, after taking into account $0 in subsidies). For most people, the Bronze plan represents the minimum level of coverage required under health reform. Although you would pay less in premiums by enrolling in a Bronze plan, you will face higher out-of-pocket costs than if you enrolled in a Silver plan.
Out of Pocket Costs
Your out-of-pocket maximum for a Silver plan (not including the premium) can be no more than $12,700. Whether you reach this maximum level will depend on the amount of health care services you use. Currently, about one in four people use no health care services in any given year.
You are guaranteed access to a Silver plan with an actuarial value of 70%. This means that for all enrollees in a typical population, the plan will pay for 70% of expenses in total for covered benefits, with enrollees responsible for the rest. If you choose to enroll in a Bronze plan, the actuarial value will be 60%, meaning your out-of-pocket costs when you use services will likely be higher. Regardless of which level of coverage you choose, deductibles and copayments will vary from plan to plan, and out-of-pocket costs will depend on your health care expenses. Preventive services will be covered with no cost sharing required.
Other Coverage Options
Children and young adults under age 30 are eligible to purchase catastrophic coverage. With a catastrophic plan, you would pay out-of-pocket for most health services until you reach the annual limit on cost sharing ($12,700 in 2014). However, preventive services are covered with no cost sharing required.
Children under the age of 19 may also be eligible for coverage under Medicaid or the Children’s Health Insurance Program (CHIP), depending on your state’s eligibility requirements.
Right now my income is 0 and I am not on any government program
Why did it ask for the HTML code for color of the back of my hand?
(JK)
I’m not sure if you’re joking, but if you’re not and you aren’t, then you’ve made a conscious choice not to be. You would be eligible for premium-free benes, but you know that.
Why would I want to?
Should I go for food stamps too?
lol
bttt
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