GIMME BACK MY MONEY!
No /s
Posted on 03/29/2017 5:45:33 AM PDT by MarvinStinson
Approximately 6.5 million taxpayers paid $3 billion in Obamacare penalties for not having health insurance in 2016, according to preliminary data from the Internal Revenue Service Commissioner John Koskinen.
Beginning in 2014, the Affordable Care Act’s individual mandate required that Americans purchase health care coverage or pay a penalty to the Internal Revenue Service.
While the number of taxpayers paying the penalty has declined since 2014, the total amount in penalties paid to the IRS has increased since then.
In 2014, individuals without insurance had to pay the greater penalty of either a flat fee of $95 or 1 percent of the household’s adjusted gross income in excess of the threshold for mandatory tax filing. In 2016, those penalties increased to a flat fee of $695 or 2.5 percent of the adjusted gross income.
In 2014, Koskinen’s preliminary data showed that there were 7.5 million taxpayers who paid a total of $1.5 billion in Obamacare penalties. Final data from the IRS, however, showed those numbers increase to 8.1 million taxpayers paying a total of $1.7 billion in Obamacare penalties.
Koskinen’s preliminary data from 2016 shows that there were 6.5 million taxpayers paying a total of $3 billion in Obamacare penalties, which is nearly double what the IRS collected in 2014. As in 2014, final IRS data may show an increase in these numbers when it is released.
In 2016, the IRS reports that the average penalty paid was around $470 and that about 70 percent of payments were $500 or less, while only 7 percent of payments were $100 or less. There were 117 million tax returns of individuals who had qualifying health care coverage all year and 12.7 million taxpayers claimed an exemption to get out of paying the mandate. According to the IRS, the most common exemption occurs when a household’s income is less than the tax-filing threshold.
This year, the IRS is easing requirements for Obamacare's individual mandate, after President Donald Trump signed an executive order requiring that federal agencies reduce the burden of Obamacare. Now, the IRS will not require taxpayers to indicate whether or not they have health insurance.
The Internal Revenue Service did not respond to requests for comment by press time.
No penalty here. I applied the 8% exemption and, at 63 years old, it was pretty easy.
It’s the “unaffordable coverage option”.
http://obamacarefacts.com/obamacare-exemptions-list/
Obamacare - Second greatest scam in our history/
A wealth redistribution scheme making affordable healthcare unaffordable and extorting billions of dollars from workers and taxpayers.
Barack Obama - The election of Obama is by far the greatest scam in our history
Forcing citizens to pay for something they don’t want.
At gun point.
F U IRS!
F U B O!
Just told Turbo Tax that insurance was unaffordable. for all the months that year. Qualified with no other questions asked. Did it 3 years. fine was to be around $1,000 last year
If you make too little income, then your ACA subsidy is invalid and you must pay it all back. If you make too much income (by even $1) then you will see your ACA subsidy revoked and you must pay it all back.
I have had clients that signed up for ACA, whether of a desire meet the spirit of the law or a true need for insurance. Trying to guess your forward income when unemployed in January is difficult. Trying to guess it when your company cancels your insurance is just as difficult, especially if you are over 55. And almost no one braves the two hour holds to the call centers just to update their income to adjust their subsidy.
The worst I remember was an older gentleman who was unemployed, got ACA with a subsidy, later got a good job as a foreman and made just enough to go over the max he could earn, and get a subsidy. Wife had no insurance at her job. Was required to pay back almost $15,000.
We can debate whether or not there should even be any subsidies through the federal government for personal healthcare insurance. There should not!
IMO, the implementation of this legislation was downright evil and hurt more folks than it helped. From insanely high deductibles to arbitrary rules that harm daily healthcare, it has been an experiment that has not helped very many of the very folks it was supposed to insure.
The cost of the law cannot be measured only in a few penalties for non-insurance.
My Wife and I self insured for many years - then came ObamaCare.
The penalties became 5% of our income - way more than $695 per person.
So we joined Christian Healthcare and have excellent coverage for $300 a month with NO penalty.
We are very happy.
The US Government should NEVER forcefully get a penny from ANYONE who chooses not to have insurance coverage. It’s just sick to think anyone thought this was a good idea.
GIMME BACK MY MONEY!
No /s
$3B taken away from American families, from the economy, and re-distributed per the socialist-in-chief’s ‘signature legislation’. No penalty to me personally other than:
- And my premiums are still sky high
- And I’d need to take out a loan to reach my yearly deductible
- And receiving healthcare is still unnecessarily complicated
- And billing from healthcare is chaos at best
- And my Wife and I have to parse out when/if we see a Dr. Lately, it’s just not seeing a Dr.
- And there’s no real competition for my insurance dollars
- And when I see my Dr. says she feels restricted in what she can do
- And on, and on.
Well, Thanks Obama.
Oh, and thank you Speaker Ryan for failing to lead this effort. For failing to live up to your promise of that sunny day we would repeal Ocare when the GOP finally had Legislative and Executive control. Thanks Paulie, for telling those of us burdened in the current healthcare environment that ‘obamacare is the law of the land for the foreseeable future’ That was inspirational Bro... to the Democrats.
Lastly, all you low-lifes that cast votes to repeal Ocare knowing Barry would veto it - your bluff was called.
Can’t wait to see what a ‘great’ job Ryan’s House will do with the budget...
These numbers don’t include the $$ in penalties taken from small business owners who employee more than 50 people. Include that and the feds are really rolling in their re-distribution scam.
As with all socialistic schemes, there are "winners" and "losers", and politicians/media only talk about the "winners" when they are pushing them, or when the people are trying to roll them back.
The "losers" are invisible, by intentional design.
From insanely high deductibles to arbitrary rules that harm daily healthcare, it has been an experiment that has not helped very many of the very folks it was supposed to insure.
There is a saying, "Who wills the means, wills the end." If TPTB actually cared about "insuring" the folks to which you refer, they would be all over repealing and fixing the law. In fact, they are not, and never were, interested in any such thing. Admitting that is the first step in understanding what Bammy"care" is all about.
Funny to see my liberal friends contort when I bash Obama for penalizing people for not buying products from Big Insurance.
There’s something about calling this fiasco “The Affordable Care Act” & then providing for a fine for not buying into it that just doesn’t quite ring true.
Very good point Appy!
That’s about $465 per person. WAYYYYYYY less than what I pay for my wife monthly. Take the fine/tax!-)
Did you see this?
In 2014, House Republicans sued the Obama administration over the constitutionality of the cost-sharing reduction payments, which had not been appropriated by Congress. The lawmakers won the lawsuit, and the Obama administration appealed it. Late last year, with a new administration on the other end of the suit, the House sought to pause the proceedings — with a deadline for a status update in late May.
The Trump administration and House lawmakers have to report to the judge this spring. If the Trump administration drops the appeal, it would mean the subsidies would stop being paid — a huge blow to the marketplaces and millions of people. If lawmakers wanted the payments to continue, they would have to find a way to fund them. One opportunity for that is coming up fast, the continuing resolution that must be passed by April 28. If the Trump administration continues the lawsuit, it will be in the odd position of fighting its own party.
http://www.freerepublic.com/focus/f-chat/3539139/posts
Suckers! I didn’t pay a dime.
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