How Obamacare may strain family budgets
Many people will feel the financial burden, with an average per-person cost of at least $2,988 and tax credits limited to fewer than half of buyers.
Updated 7:40 p.m. ET.
For many Americans, Obamacare will be a test of their budgets and their tolerance for the health care overhaul.
That's because buying insurance through the health care exchanges will cost individuals "at least $2,988 a year on average" per person, Bloomberg notes.
While that price will be discounted for some people through tax credits, fewer than half of people buying coverage will qualify, according to an August analysis from the Kaiser Family Foundation.
The costs of the Affordable Care Act remain a sore point for Republicans and other conservatives, who point to the law as potentially hurting businesses and workers' wages and are threatening to shut down the federal government as part of their battle to defund the legislation.
Obamacare may lead to a test of the U.S. economy, according to a white paper from Express Employment Professionals. Some companies are cutting employee hours to avoid paying for health insurance, for instance, although the evidence is mostly anecdotal.
But for some individuals, Obamacare's cost may mean a strain on their budgets.
A two-parent, two-child family with annual income of $100,000 won't receive a government tax credit, for example, according to the Kaiser Family Foundation's subsidy calculator. That family's unsubsidized annual health insurance premium would amount to $8,290 per year, based on the midlevel "silver plan."
As the health care exchanges open on Oct. 1 for enrollment, the plans' affordability may make or break the overhaul. If people lack health insurance on Jan. 1, the government will levy a $95 per-year fine. That may prompt some consumers to gamble against coverage.
As Monness Crespi Hardt & Co. insurance analyst Brian Wright told Bloomberg, Obamacare's success "will depend on the changes that are made over the next couple of years to address the affordability issue."
Follow Aimee Picchi on Twitter at @aimeepicchi.
WHEN GOVERNMENT EMPLOYEES STAND ON THE FIFTH WHEN BEING QUESTIONED
ABOUT THEIR WORK PERFORMANCE!!!!!!!!!
THEN THEY KEEP GETTING PAID - - AND FINALLY TAKE THEIR RETIREMENT AND PENSION (YOUR MONEY)!!!!!!!!!!!!!!!!!!!!!!
Obamacare = derailment
Family Budget hurt
Employment goes part time to avoid health care
Employees still get penalized for no health care
I hope every lazy MFer in this country sends me a thank you note for subsidizing their worthless lifestyles.
barry and congress can go **** themselves. fine me. then go **** yourselves again.
ALL HE HAD TO DO IS END GOVERNMENTS MISERABLE PERFORMANCE, AND LIVE UP TO HIS PROMISES!!!!! BUT NO - HE'S MAKING UP NEW CORRUPT BUREAUS, TELLING NEW LIES, COVERING UP FOR AND IGNORING HIS LYING UNDERLINGS WHO ARE NOW TAKING THE FIFTH WHEN THEY GET CAUGHT WITH THEIR FINGERS IN THE TILL!!!!!!!!!
We know Obamacare is the biggest boondoggle in the history of the country. And here we have the debt ceiling debate before us. It is so wonderful that we know how our wonderful President stands on this issue. Read on folks.
The fact that we are here today to debate raising Americas debt. Limit is a sign of leadership failure. It is a sign that the US Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from the foreign countries to finance out government’s fiscal policies.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees: robbing our familes and out children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in Americas priorities. Instead, interest payments are a significant tax on all Americans. A debt tax that Washington doesn’t want to talk about. If Washington were serious about honest tax relief in this country, we would see an effort to reduce national debt by returning to responsible fiscal policies.
Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.
I therefore intend to oppose the effort to increase America’a debt limit.
Sen. Barack Hussein Obama, Jr. (Senate speech March 16, 2006)
We ought to be so proud to have a individual with such honesty and integrity in the White House. Says what he means, means what he says.
Ops, said the Obama sheeple! We thought we all be get it for free cause Obama go to tax the evil rich Republicans (not the good rich Democrats) to pay for ours.
If it sounds to good to be true, it is. Heard that one deer in the headlight liberals?
Where does the subsity money come from? Oh well. It's not another tax but you can get tax credit.
PLEASE PASS THIS OUTRAGE TO EVERY ONE ON YOUR LIST!!!
THIS should be read by everyone, especally important to those over 75. If you are younger, then it applies to your parents.
Your hospital Medicare admittance has just changed under Obama Care. You must be admitted by your primary Physician in order for Medicare to pay for it! If you are admitted by an emergency room doctor it is treated as outpatient care where hospital costs are not covered. This is only the tip of the iceberg for Obama Care. Just wait to see what happens in 2013 & 2014!
At age 72, today, I went to the Dr. for my monthly B12 shot that I have been getting for a number of years. The nurse came and got me, got out the needle filled and ready to go then looked at the computer and got very quiet and asked if I was prepared to pay for it. I said no that my insurance takes care of it. She said, that Medicare had turned it down and went to talk to my Dr. about it. 15 minutes later she came back and said, she was sorry but they had tried every-thing they could but Medicare is beginning to turn many things down for seniors because of the projected Obama Care coming in. She was brushing at tears and said, "Some day they too will get old", I am so very sorry!!
Please for the sake of many good people, please... pass this on. We all need to be informed.
YOU ARE NOT GOING TO LIKE THIS...
At age 76 when you most need it, you are not eligible for cancer treatment
What Nancy Pelosi didn't want us to know until after the healthcare bill was passed. Remember she said, "We have to pass the Bill so that we can see what's in it." Well, here it is.
Obama Care Highlighted by Page Number
THE CARE BILL HB 3200
JUDGE KITHIL IS THE 2ND OFFICIAL WHO HAS OUTLINED THESE PARTS OF THE CARE BILL.
Judge Kithil of Marble Falls, TX -
Highlighted the most egregious pages of HB3200
Please read this....... especially the reference to pages 58 & 59
JUDGE KITHIL wrote:
Page 50/section 152:
The bill will provide insurance to all non-U.S. residents,
even if they are here illegally.
Page 58 and 59:
The government will have real-time access to an individual's bank account and will have the authority to make electronic fund transfers from those accounts .
Page 65/section 164:
The plan will be subsidized (by the government) for all union members, union retirees and for community organizations (such as the Association of Community Organizations for Reform Now - ACORN).
Page 203/line 14-15:
The tax imposed under this section will not be treated as a tax.
(How could anybody in their right mind come up with that?)
Page 241 and 253:
Doctors will all be paid the same regardless of specialty, and the government will set all doctors' fees.
Page 272. section 1145:
Cancer hospital will ration care according to the patient's age.
Page 317 and 321:
The government will impose a prohibition on hospital expansion;
however, communities may petition for an exception.
Page 425, line 4-12:
The government mandates advance-care planning consultations. Those on Social Security will be required to attend an "end-of-life planning" seminar every five years. (Death counseling..)
Page 429, line 13-25:
The government will specify which doctors can write an end-of-life order.
HAD ENOUGH???? Judge Kithil then goes on to identify:
"Finally, it is specifically stated that this bill will not apply to members of Congress." (why not?????)
Honorable David Kithil of Marble Falls, Texas
All of the above should give you the ammo you need to oppose Obamacare.
Please send this information on to all of your email contacts.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The Nasdaq Composite (+0.5%) and S&P 500 (+0.2%) posted modest gains on Thursday, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border.
The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 ... More
More Market News
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'