Affordable Care Act Scene 2 - Insurance Premiums

<p>No. There is no budget. Everything is made up. There are going to be new dollars created by the same firms that create Disney Dollars that we spend at Disneyland and Disney World.</p>

<p>Obamacare dollars are going to have a big picture of a smiling President Obama right in the center of the dollar.</p>

<p>play nice dstark. :stuck_out_tongue: Do you know the answer?</p>

<p>I just posted the answer two days ago. :)</p>

<p>LOL dstark!</p>

<p>I saw many posts about ACA being new positive for budget from you. Personally I see too much press that says the numbers are not real but I could be reading the wrong press. </p>

<p>I can’t figure out where the big money is coming from (tax on higher income on capital gains, tax on medical instrument makers, tax on home sale profits, …) but how much is govt taking in vs spending?</p>

<p>Ok…This is from an earlier post…</p>

<p>"lerkin,
You got me on the second part of your post. </p>

<p>Not the first…</p>

<p><a href=“http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act[/url]”>http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act&lt;/a&gt;&lt;/p&gt;

<p>You may have to click on the word "impact"and then scroll down to federal deficit.</p>

<p>"The 2011 comprehensive CBO estimate projected a net deficit reduction of more than $200 billion during the 2012–2021 period:[238][239] it calculated the law would result in $604 billion in total outlays offset by $813 billion in total receipts, resulting in a $210 billion net reduction in the deficit.[238] The CBO separately noted that while most of the spending provisions do not begin until 2014,[240][241] revenue will still exceed spending in those subsequent years.[242] CBO also stated that the bill would “substantially reduce the growth of Medicare’s payment rates for most services; impose an excise tax on insurance plans with relatively high premiums; and make various other changes to the federal tax code, Medicare, Medicaid, and other programs”[210]—ultimately extending the solvency of the Medicare trust fund by 8 years.[243]</p>

<p>The money only comes from the federal government IF the people signing up on Medicaid are newly eligible. </p>

<p>If they had previously been eligible for Medicaid but just signing up now, the states are on the hook. </p>

<p>Some states, i. e. Illinois, are already nearly bankrupt. How they will handle more expenses, no one knows.</p>

<p>[ObamaCare</a> Tax: Full List of ObamaCare Taxes](<a href=“http://obamacarefacts.com/obamacare-taxes.php]ObamaCare”>http://obamacarefacts.com/obamacare-taxes.php)</p>

<p>Emilybee, :).</p>

<p>Looks good to me, dstark. But I’m one of those pro tax and spend people, so. :)</p>

<p>dstark - do you have more credible links than Wikipedia and obamacarefacts? Both pieces look promotional to me.</p>

<p>texas, </p>

<p>here you go. </p>

<p><a href=“http://www.gpo.gov/fdsys/pkg/BILLS-111hr3590enr/pdf/BILLS-111hr3590enr.pdf[/url]”>http://www.gpo.gov/fdsys/pkg/BILLS-111hr3590enr/pdf/BILLS-111hr3590enr.pdf&lt;/a&gt;&lt;/p&gt;

<p>how about the CBO’s reports?</p>

<p>[Congressional</a> Budget Office (CBO)](<a href=“http://www.cbo.gov/latest/Health-Care/Affordable-Care-Act]Congressional”>http://www.cbo.gov/latest/Health-Care/Affordable-Care-Act)</p>

<p>

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<p>We always have. This is nothing new. I have been in the individual market for many years and I never had access to the kind of very affordable health care insurance that my friends with employer funded policies had. There is a simple reason. We have no one to lobby or bargain for us.</p>

<p>Texaspg, I agree that wikipedia can be sketchy. </p>

<p>The numbers are from CBO or the law. You can ignore the commentary. Just look at all the taxes. </p>

<p>I see that bluebayou has posted a CBO link. Nice.</p>

<p>I asked yesterday what is the disaster if Obamacare doesnt have enough signups? I dont care about the politics. What is the economic disaster?</p>

<p>(I did like argbargy’s response).</p>

<p>Thanks. I am taking next week off to devote to the slow reading. :p</p>

<p>"I asked yesterday what is the disaster if Obamacare doesnt have enough signups? I dont care about the politics. What is the economic disaster? "</p>

<p>Although the clarity on not enough are enrolling and so the sky is falling type remarks make it unclear, there are specific issues with not having enough enrollees.</p>

<ol>
<li><p>Medicaid enrollees are supported no matter what since it is a Govt plan. So whether 100 or 5 million sign up, it is incremental in cost to the Govt.</p></li>
<li><p>Program through insurance companies is based on expected number of enrollees and the premiums being provided today are based on the expected number of enrollees. So when too few enroll, it is now altering the risk profile, thus altering the premiums. I think poetgrl mentioned something about having to pay money to insurance companies in this scenario yesterday.</p></li>
</ol>

<p>Although GP gets picked on, there is a lot of grumbling among the full pays about the premium increases for non-discernible increases in their benefits. This is real. Imagine a bigger increase next year because not enough enrolled this year as guaranteed by the govt. What happens then? The question I have heard is whether we are insuring a bunch of uninsured today in order to create a whole new class of uninsured who used to be previously insured. But I go with Interesteddad - I am insured, I have my doctors, should I care or should I worry that employer market will get hit next year.</p>

<p>Emilybee, lol…</p>

<p>I love this thread. :)</p>

<p>Here is the list of taxes from the link with no commentary. </p>

<p>Full List of All Taxes in ObamaCare / All Taxes in the Affordable Care Act</p>

<p>The following list of new ObamaCare taxes collectively raise over $800 billion by 2022. Here is a complete list of new fees and taxes contained within ObamaCare:</p>

<p>• 2.3% Tax on Medical Device Manufacturers 2014</p>

<p>• 10% Tax on Indoor Tanning Services 2014</p>

<p>• Blue Cross/Blue Shield Tax Hike</p>

<p>• Excise Tax on Charitable Hospitals which fail to comply with the requirements of ObamaCare</p>

<p>• Tax on Brand Name Drugs</p>

<p>• Tax on Health Insurers</p>

<p>• $500,000 Annual Executive Compensation Limit for Health Insurance Executives</p>

<p>• Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D </p>

<p>• Employer Mandate on business with over 50 full-time equivalent employees to provide health insurance to full-time employees. $2000 per employee $3000 if employee uses tax credits to buy insurance on the exchange (marketplace). (pushed back to 2015)</p>

<p>• Medicare Tax on Investment Income 3.8% over $200k/$250k</p>

<p>• Medicare Part A Tax increase of .9% over $200k/$250k</p>

<p>• Employer Reporting of Insurance on W-2 (not a tax)</p>

<p>• Corporate 1099-MISC Information Reporting (repealed)</p>

<p>• Codification of the “economic substance doctrine” (not a tax)</p>

<p>ObamaCare Taxes That (may) Directly Affect the Average American</p>

<p>• 40% Excise Tax “Cadillac” on high-end Premium Health Insurance Plans 2018</p>

<p>• An annual $63 fee levied by ObamaCare on all plans (decreased each year until 2017 when pre-existing conditions are eliminated) to help pay for insurance companies covering the costs of high-risk pools.</p>

<p>• Medicine Cabinet Tax
Over the counter medicines no longer qualified as medical expenses for flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs), and Archer Medical Saving accounts (MSAs).</p>

<p>• Additional Tax on HSA/MSA Distributions
Health savings account or an Archer medical savings account, penalties for spending money on non-qualified medical expenses. 10% to 20% in the case of a HSA and from 15% to 20% in the case of a MSA.</p>

<p>• Flexible Spending Account Cap 2013
Contributions to FSAs are reduced to $2,500 from $5,000.</p>

<p>• Medical Deduction Threshold tax increase 2013
Threshold to deduct medical expenses as an itemized deduction increases to 10% from 7.5%.</p>

<p>• Individual Mandate (the tax for not purchasing insurance if you can afford it) 2014
Starting in 2014, anyone not buying “qualifying” health insurance must pay an income tax surtax at a rate of 1% or $95 in 2014 to 2.5% in 2016 on profitable income above the tax threshold. The total penalty amount cannot exceed the national average of the annual premiums of a “bronze level” health insurance plan on ObamaCare exchanges.</p>

<p>• Premium Tax Credits for Small Businesses 2014 (not a tax)</p>

<p>• Advanced Premium Tax Credits for Individuals and Families 2014 (not a tax)</p>

<p>• Medical Loss Ratio (MRL): Premium rebates (not a tax)"</p>

<p>Your post 5221 really cracks me up, dstark, though you’re being funny, who knows what will happen? </p>

<p>I was actually curious how, specifically, expanded Medicaid is paid for, not the entire scheme.</p>

<p>

I have no idea of what the Medicaid restrictions may or may not be after Jan 1. Most of the time my son goes to urgent care centers in other parts of town. Though it ended up being a false alarm, he thought it was an emergency so he opted to go to the closest hospital.</p>

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<p>If it’s an emergency, then every insurance everywhere has to pay. PPACA: Patient Bill of Rights. At least every NEW insurance written under the law – I don’t know about any noncompliant, non-grandfathered plans that are allowed to survive after the first of the year.</p>