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ObamaCare: Older Workers Could Pay 25% Of Income
Investor's Business Daily ^ | Dec 26, 2013 | JED GRAHAM

Posted on 12/26/2013 6:38:57 PM PST by Innovative

A primary rationale of ObamaCare's insurance reforms limiting age-rating and precluding pricing based on health status has been to ensure that people will be able to afford health coverage when they need it most.

An IBD analysis finds that middle-class households in their late 50s and early 60s could spend 25% or more of their income on health care — before their deductible is exhausted and ObamaCare's benefits kick in.

Covered California's shop-and-compare tool shows that a 58-year-old couple in Los Angeles County with $65,000 in income buying a bronze plan would have to spend $19,400, including $9,400 in premiums and a $10,000 deductible.

Individuals can deduct medical expenses above 10% of income. Even so, the couple could still face a health care bill equal to 25% of income, before any benefits.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections; US: California
KEYWORDS: 0carenightmare; abolishobamacare; california; crappycare; democrats; healthcare; healthinsurance; incometax; losangeles; obama; obamacare; obamacaredeductibles; obamarecession; obamataxhikes; repealobamacare
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To: Innovative

all part of the redistribution plan


21 posted on 12/26/2013 7:03:11 PM PST by sten (fighting tyranny never goes out of style)
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To: entropy12

Lock and load


22 posted on 12/26/2013 7:05:06 PM PST by CPT Clay (Follow me on Twitter @Clay N TX)
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To: Myrddin

Insanity


23 posted on 12/26/2013 7:06:48 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: entropy12

Lol!
Uh oh.


24 posted on 12/26/2013 7:07:38 PM PST by Darksheare (Try my coffee, first one's free..... Even robots will kill for it!)
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To: sten

> all part of the redistribution plan

They’ve just about redistributed everything I have. They’ll have to start gnawing on theirown before soon.


25 posted on 12/26/2013 7:11:39 PM PST by jsanders2001
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To: jsanders2001

We will see by mid 2014 who is raping the public, the gov or insurance companies or both.


26 posted on 12/26/2013 7:14:34 PM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: Innovative

And rely on Republicans like McCain,Graham and Boehner to repeal Obama care,reduce government,lower taxes and stand up for conservative values! They’ll do it for all of 30 seconds before caving at the first whimper by the media/democratic machine.


27 posted on 12/26/2013 7:23:39 PM PST by bonehead4freedom
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To: Innovative

“There will be elections in less than a year — no impeachment needed, just make sure all the Dems are defeated.”

We know we can count on John McCain, Mitch McConnell, Lindsay Graham, Eric Cantor, John Boehner and the rest of the GOP leaders to go down on their swords to stop Obamacare. Look how they ran for the woods when Ted Cruz tried to show leadership on the issue this year.

Sorry, if the Republicans win both houses of Congress in 2014 Obamacare will not be defunded or eliminated. The multinational corporations who fund the GOP want single payer and the GOP will do their bidding.


28 posted on 12/26/2013 7:27:42 PM PST by Soul of the South (Yesterday is gone. Today will be what we make of it.)
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To: jsanders2001

that’s how it always ends up with marxists/ socialists/ commies/ progressives

in the end, it’s about them controlling the flow of wealth ...giving them the majority of power


29 posted on 12/26/2013 7:28:44 PM PST by sten (fighting tyranny never goes out of style)
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To: Innovative

Yes, it is thievery and IRS thuggery. Just a start. Free food and free housing is here already, and will just get more elaborate, courtesy Democrat voters.


30 posted on 12/26/2013 7:42:48 PM PST by The_Media_never_lie (The media must be defeated any way it can be done!)
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To: Innovative
Its amazing to me that so many simply don't know how much health insurance costs.

I'm not a fan of Odamacare but at least it has made so many wake up to the reality...

In 2009 my premium for myself and 3 dependents was $628 a month with Blue Cross, in 2010 they increased it to $856/month.

I went back to the VA and they could get a $10,000/year policy for $339/month.

Qbamacare is an intrusion on our rights as Americans but these complaints of the cost ring hollow to me..as usual most Americans haven't been paying attention

31 posted on 12/26/2013 8:11:16 PM PST by montanajoe
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To: Nik Naym
Conditions like this speed the growth of black markets. People will do some jobs for cash.
Society as we know it will disappear.
32 posted on 12/26/2013 8:18:28 PM PST by Eric in the Ozarks ("Say Not the Struggle Naught Availeth.")
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To: Innovative

All we can hope is that this thing is sh.. canned. Otherwise, we’re so screwed.


33 posted on 12/26/2013 8:31:47 PM PST by virgil
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To: Myrddin

Your numbers are almost as bad as ours. I am 59. Hubby 62. I ran our numbers on CoveredCa and it came out to 27% of our income if we used medical services.
I have been posting this ever since the website was up and running but they are just now figuring it out.


34 posted on 12/26/2013 8:48:01 PM PST by sheana
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To: montanajoe

I have been paying attention. We have been paying $1000 a month for many years now. That’s still a far cry from the 27% of our income that Obamacare would cost us if we had Obamacare and got sick.


35 posted on 12/26/2013 8:51:02 PM PST by sheana
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To: Innovative

Bookmark


36 posted on 12/26/2013 9:12:50 PM PST by Hetty_Fauxvert (FUBO, and the useful idiots you rode in on!)
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To: sheana
$1000 month so what it under Obamacare that's 27%.

By my simple math you had to be paying at least 25% before on a 50k income. You know the insurance companies have been increasing premiums by 20% or more yearly.

I'm sorry folks complaining about the cost are simply misinformed or possibly in your case mathematically challenged

37 posted on 12/26/2013 9:20:57 PM PST by montanajoe
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To: virgil

Sorry my friend. It is too late. What was before is gone, over. Not sure where this ends but it is not going back to what we did before.


38 posted on 12/26/2013 9:38:03 PM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: sheana

BTW...that’s my employer sponsored plan. I suspect things get worse when I lose that benefit. I calculated the pre-tax value of the deductibles based on loss of 42% of each pay check to taxes...I actually lose more than that. To top it off, I have to rent a small room 900 miles from home to keep earning a pay check. Another $700+ per month (after tax) impact from Obama. Not a real happy camper, but still employed.


39 posted on 12/26/2013 9:57:57 PM PST by Myrddin
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To: sheana

“Your numbers are almost as bad as ours. I am 59. Hubby 62. I ran our numbers on CoveredCa and it came out to 27% of our income if we used medical services.
I have been posting this ever since the website was up and running but they are just now figuring it out.”

The Republicans seem to be always “a day late and a dollar short”, as they say.

They were so focused on the website issues, which was a temporary problem, instead of figuring out what the real implications of Obamacare on the net income of working people and telling them.


40 posted on 12/27/2013 4:46:20 AM PST by Innovative ("Winning isn't everything, it's the only thing." -- Vince Lombardi)
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