What Obamacare has in store for you

[Ignatowski 5,000+ posts]

Now that the Supreme Court has upheld Obamacare under the tax clause (and he swore that this bill was not a tax remember???) This is the bottome line:

Employers who employ 50 or more full time employees must provide health insurance benefits that comply with the law or pay a $2,000 tax per employee. Let's face facts shall we? If the cost of paying the tax is less than providing benefits the employer will gladly pay the tax and drop your benefits. Notice also that the law stipulates full time employees. A full time employee is an employee that works less than 30 hours a week. Look for employers to cut hours and hire more part time employees. Could you get by working part time?

So if your employer drops it's coverage under the new law you must be covered by health insurance! If you do not show proof of health insurance coverage on your 2015 tax return you will be taxed $2,000.

You can choose to go on the medicaid program and many will as the premiums will probably be lower. The quality of care will be lower and there will be a long waiting list as most doctors don't take medicaid patients and more and more are not accepting medicare patients either.

Look for insurance premiums to sky-rocket as costs go up to pay for Obamacare. There are new taxes on drugs, medical devices, and even taxes on things that have nothing to do with healthcare. Following is a list of your new taxes:

Obamacare law contains 20 new or higher taxes on American families and small businesses

The President's healthcare law is one of the largest tax increases in American history.

Obamacare contains 20 new or higher taxes on American families and small businesses.

Arranged by their respective effective dates, below is the total list of all $500 billion-plus in tax hikes (over the next ten years) in Obamacare, where to find them in the bill, and how much your taxes are scheduled to go up as of today:

Taxes that took effect in 2010:

1. Excise Tax on Charitable Hospitals (Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS. Bill: PPACA; Page: 1,961-1,971

2. Codification of the "economic substance doctrine" (Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks "substance" and is merely intended to reduce taxes owed. Bill: Reconciliation Act; Page: 108-113

3. "Black liquor" tax hike (Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel. Bill: Reconciliation Act; Page: 105

4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year. Bill: PPACA; Page: 1,971-1,980

5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services. Bill: PPACA; Page: 2,004

6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons. Bill: PPACA; Page: 2,397-2,399

Taxes that took effect in 2011:

7. Medicine Cabinet Tax ($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin). Bill: PPACA; Page: 1,957-1,959

8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent. Bill: PPACA; Page: 1,959

Tax that took effect in 2012:

9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012): Preamble to taxing health benefits on individual tax returns. Bill: PPACA; Page: 1,957

Taxes that take effect in 2013:

10. Surtax on Investment Income ($123 billion/Jan. 2013): Creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income: Bill: Reconciliation Act; Page: 87-93

Capital Gains

Dividends

Other*

*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.

11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013):

Bill: PPACA, Reconciliation Act; Page: 2000-2003; 87-93

12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exempts items retailing for

13. Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI ($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI. Waived for 65+ taxpayers in 2013-2016 only. Bill: PPACA; Page: 1,994-1,995

14. Flexible Spending Account Cap -- aka "Special Needs Kids Tax" ($13 bil/Jan 2013): Imposes cap on FSAs of $2500 (now unlimited). Indexed to inflation after 2013. There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education. Bill: PPACA; Page: 2,388-2,389

15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013) Bill: PPACA; Page: 1,994

16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013). Bill: PPACA; Page: 1,995-2,000

Taxes that take effect in 2014:

17. Individual Mandate Excise Tax (Jan 2014): Starting in 2014, anyone not buying "qualifying" health insurance must pay an income surtax.

Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line, members of Indian tribes, and hardship cases (determined by HHS).Bill: PPACA; Page: 317-337

18. Employer Mandate Tax (Jan 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. Applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).Bill: PPACA; Page: 345-346

Combined score of individual and employer mandate tax penalty: $65 billion/10 years

19. Tax on Health Insurers ($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. Phases in gradually until 2018. Fully-imposed on firms with $50 million in profits. Bill: PPACA; Page: 1,986-1,993

Taxes that take effect in 2018:

20. Excise Tax on Comprehensive Health Insurance Plans ($32 bil/Jan 201: Starting in 2018, new 40 percent excise tax on "Cadillac" health insurance plans ($10,200 single/$27,500 family). Higher threshold ($11,500 single/$29,450 family) for early retirees and high-risk professions. CPI +1 percentage point indexed

So Congratulations America! You now have a lot of new taxes to pay, long waiting periods for medical procedures and sub-standard care in your future! Oh and don't count on keeping your doctor either, 67% of doctors don't like this law and threaten to quit!

Click to read more...

 

[Boomsday 10+ year member]

U said the same thing twice to make yourself look smarter

 

[Ignatowski 5,000+ posts]

U said the same thing twice to make yourself look smarter

one here and once on another thread,STFU

 

[JL Audio 5,000+ posts]

you stfu. :/

 

[bubbagumper6 5,000+ posts]

Someone has a sandy vagina...

 

[05fronty 5,000+ posts]

yep tax. why work anymore really

 

[R34P3R 10+ year member]

Sounds like I need to start packing for Canada eh?

 

[splwj47 10+ year member]

Sounds like I need to start packing for Canada eh?

that would be the smart thing to do, all heath care is free here.

 

[BreakingBad]

Canada is no better than the US. Yeah, they call it 'free health care', but when it comes down to it they have fundamental problems with the system just like we do, and the problems stem from the monetary system. Almost all institutions - health care, education, government - are corrupted because of the way the monetary system works.

I do not believe in taxation without representation, and we lost true representation over a century ago. Taxation is theft due to what taxpayer money is used for. Tax money is rarely used for beneficial projects such as housing, education, roads, parks, etc. The money primarily goes to the military industrial complex (over 50%) to drop bombs and kill people for profit, and the remaining monies usually go to pay for an over-bloated, bureaucratic government.

Health care needs revamped EVERYWHERE - but this RomneyCare/ObamaCare ******** is completely unconstitutional to force a tax on people who choose not to buy a service. This is extortion, fraud and theft all rolled into one. The Obama admin is nothing but puppets, bought and paid for by the banks. Look at who contributes the most to the Romney and Obama platforms - Goldman Sachs, BP, JP Morgan Chase, etc. They DO NOT have our interests in mind, let alone our health. GMO foods plague our planet, chemtrails are being dumped on us daily, radiation is being spewed from Fukishima still, we pollute the earth and the oceans...the bottom line is money and profit, not providing healthcare to the uninsured.

 

[05trailblazer 10+ year member]

po0p

 

[splwj47 10+ year member]

Canada is no better than the US. Yeah, they call it 'free health care', but when it comes down to it they have fundamental problems with the system just like we do, and the problems stem from the monetary system. Almost all institutions - health care, education, government - are corrupted because of the way the monetary system works.
I do not believe in taxation without representation, and we lost true representation over a century ago. Taxation is theft due to what taxpayer money is used for. Tax money is rarely used for beneficial projects such as housing, education, roads, parks, etc. The money primarily goes to the military industrial complex (over 50%) to drop bombs and kill people for profit, and the remaining monies usually go to pay for an over-bloated, bureaucratic government.

Health care needs revamped EVERYWHERE - but this RomneyCare/ObamaCare ******** is completely unconstitutional to force a tax on people who choose not to buy a service. This is extortion, fraud and theft all rolled into one. The Obama admin is nothing but puppets, bought and paid for by the banks. Look at who contributes the most to the Romney and Obama platforms - Goldman Sachs, BP, JP Morgan Chase, etc. They DO NOT have our interests in mind, let alone our health. GMO foods plague our planet, chemtrails are being dumped on us daily, radiation is being spewed from Fukishima still, we pollute the earth and the oceans...the bottom line is money and profit, not providing healthcare to the uninsured.

how is canada no better then the us when it comes to healthcare? its free here. everytime iv gone to the doctor or to the er i have never paid a cent, not one penny. and we dont have to have insurance. it doesnt matter if ur a bum on the street or a millionaire the guy who needs medical attention the most gets the care first. there is nothing wrong with out healthcare system.

 

[Ignatowski 5,000+ posts]

Canada is no better than the US. Yeah, they call it 'free health care', but when it comes down to it they have fundamental problems with the system just like we do, and the problems stem from the monetary system. Almost all institutions - health care, education, government - are corrupted because of the way the monetary system works.
I do not believe in taxation without representation, and we lost true representation over a century ago. Taxation is theft due to what taxpayer money is used for. Tax money is rarely used for beneficial projects such as housing, education, roads, parks, etc. The money primarily goes to the military industrial complex (over 50%) to drop bombs and kill people for profit, and the remaining monies usually go to pay for an over-bloated, bureaucratic government.

Health care needs revamped EVERYWHERE - but this RomneyCare/ObamaCare ******** is completely unconstitutional to force a tax on people who choose not to buy a service. This is extortion, fraud and theft all rolled into one. The Obama admin is nothing but puppets, bought and paid for by the banks. Look at who contributes the most to the Romney and Obama platforms - Goldman Sachs, BP, JP Morgan Chase, etc. They DO NOT have our interests in mind, let alone our health. GMO foods plague our planet, chemtrails are being dumped on us daily, radiation is being spewed from Fukishima still, we pollute the earth and the oceans...the bottom line is money and profit, not providing healthcare to the uninsured.

Well Said......The problem with Obama Care is him,he has lied to the people of America

AGAIN !!!!!!!!!!!!!

 

[Dr. Slam 10+ year member]

Well you could always move to Mexico...

 

[TheUnderFighter 10+ year member]

Well Said......The problem with Obama Care is him,he has lied to the people of AmericaAGAIN !!!!!!!!!!!!!

I posed an interesting question geared towards that a few months ago. What if these politicians were actually held accountable, for the things they said on their campaign? I mean really held accountable. Like, being shot every time they didn't make an attempt to keep a campaign promise. Would they start making good on their outrageous promises? Or would they adjust their claims to something more reasonable? OR, would they be so frightened of the truth, that they would rather lie and suffer the punishment? Some people may think getting shot for a lie that drives a country into the ground is a bit harsh, so I've thought of an alternative punishment. Public spanking. Yep, what could be more humiliating? Every time they broke a promise, they'd go to the center of a state (a new state every time, so we all get a turn), and whoever wanted to, could show up for the next 12 hours and get one good spank in.

that would be the smart thing to do, all heath care is free here.

Yea, but you guys get fucked in the ass for shipping car audio. Not worth it.

 

[armykyle1 10+ year member]

Yea its complete BS...

It makes me sick to my stomach. Every American has been violated by this.

 

[armykyle1 10+ year member]

I posed an interesting question geared towards that a few months ago. What if these politicians were actually held accountable, for the things they said on their campaign? I mean really held accountable. Like, being shot every time they didn't make an attempt to keep a campaign promise. Would they start making good on their outrageous promises? Or would they adjust their claims to something more reasonable? OR, would they be so frightened of the truth, that they would rather lie and suffer the punishment? Some people may think getting shot for a lie that drives a country into the ground is a bit harsh, so I've thought of an alternative punishment. Public spanking. Yep, what could be more humiliating? Every time they broke a promise, they'd go to the center of a state (a new state every time, so we all get a turn), and whoever wanted to, could show up for the next 12 hours and get one good spank in.


Yea, but you guys get fucked in the ass for shipping car audio. Not worth it.

bahaha lol

 

[splwj47 10+ year member]

I posed an interesting question geared towards that a few months ago. What if these politicians were actually held accountable, for the things they said on their campaign? I mean really held accountable. Like, being shot every time they didn't make an attempt to keep a campaign promise. Would they start making good on their outrageous promises? Or would they adjust their claims to something more reasonable? OR, would they be so frightened of the truth, that they would rather lie and suffer the punishment? Some people may think getting shot for a lie that drives a country into the ground is a bit harsh, so I've thought of an alternative punishment. Public spanking. Yep, what could be more humiliating? Every time they broke a promise, they'd go to the center of a state (a new state every time, so we all get a turn), and whoever wanted to, could show up for the next 12 hours and get one good spank in.


Yea, but you guys get fucked in the ass for shipping car audio. Not worth it.

shippin isnt that bad. doesnt cost much more for shipping its the taxes and duties that get you.

 

[Sub Woofin 10+ year member]

shippin isnt that bad. doesnt cost much more for shipping its the taxes and duties that get you.

and those taxes pay for a broken fibula in canada

 

[Durango03 10+ year member]

Oh and don't count on keeping your doctor either, 67% of doctors don't like this law and threaten to quit!

^^THIS!! As a current healthcare professional with intentions of furthering my education in the medical field, I'd quit. When FORCING people to take sub-par insurance that will refuse to pay an M.D. his DESIRABLE rate, the Dr. will just become privatized (you will be paying out of pocket anyways for a decent dr. as well as the yearly tax if you dont keep the $h!tty insurance) . This bill basically regulates whats a medical professional is allowed to profit from his/ her services. I know if I finished 16 years of schooling and internships just to be told by the government that the Capitalistic principles that this country was founded upon (right to the pursuit of happiness) did not apply to me because of Obamacare... Being PI$$ED dont even begin to explain it.

 

[splwj47 10+ year member]

and those taxes pay for a broken fibula in canada

hey if i gotta pay an extra couple bucks on an item i buy for free medical services then im fine with that, its better then getting stuck with a bill for 100's or 1000's of dollars for a trip to go to the emergency room