Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS’s assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
‘Obamacare’ to cost $20,000 a Family?
So far, no one knows exactly how much insurance plans on the exchanges will cost. The health care law only mentions “actuarial values” for the four tiers of coverage — in other words, how much of an insured person’s health care costs a plan is expected to cover. Bronze plans are to cover at least 60 percent of costs; silver plans will cover 70 percent. Gold plans will cover 80 percent, and platinum plans will cover 90 percent of the costs. In each case, the remaining percentage is left to the insured to pay through deductibles, copayments and coinsurance.
Last week, the state of California claimed that its version of Obamacare’s health insurance exchange would actually reduce premiums. But, as Forbes reports, the data that the executive director of California’s ‘exchange’ released tells a different story: Obamacare, in fact, will increase individual-market premiums in California by as much as 146 percent.
Medicare’s Part A trust fund is projected to be insolvent by 2026 and the total program has a long-term unfunded obligation of more than $35 trillion. This means the government has made $35 trillion worth of benefit promises to current and future seniors that are not yet paid for — a staggering amount that is more than double the nation’s total current debt.
Democrats’ New Argument: It’s A Good Thing That Obamacare Doubles Individual Health Insurance Premiums
SHOCK: Two-Thirds May Not Insure Under Obamacare
There’s no assurance folks will be buying insurance under Obamacare, and that could spell trouble for the Affordable Care Act.
Nearly two-thirds of Americans who currently lack health insurance don’t know yet if they will purchase that coverage by the Jan. 1 deadline set by the ACA, a new survey revealed Monday.
And less than half of those in the surveyreleased by InsuranceQuotes.com think they’ll get better health care after Obamacare takes full effect. Nearly 50 percent believe the ACA will make it more difficult for them to get tests and procedures done in a timely manner, according to the phone survey of 1,001 adult Americans conducted in early May.
Neera Tanden, president of the Center for American Progress, or CAP, appeared Friday night on HBO’s “Real Time with Bill Maher” when she was asked by another guest, James Poulos of the Huffington Post, whether she read the text of Obamacare.
“Yes,” she replied. “I helped write the bill. So yes, I read the bill. I read all 2,200 pages of the bill.”