Congratulations, Nrdsb4. By jettisoning the individual mandate, the tax bill will make your premiums go up next year.
@dietz199 : Cute. I’d willingly pay the increase if the money would go to something worthwhile like the ACA rather than lining the pockets of Corker and his gang of thieves.
What, premiums will go UP? You mean unlike the last 6 years when were were saving $2500/year? snort.
Premiums will go up more than they would have gone up. I’m sure that’s no problem for you, but others wish that the enrollment pool would not be narrowed.
And I didn’t ask her to share her finances with me. I asked if she had run it through a calculator, because I was hoping it wasn’t as bad as she thought.
But you are wrong about sharing finances. Many people on this forum have shared their finances with others. Income, assets, debts, taxes, down to the last dollar. For some, it’s not such a big deal to keep it secret.
Hmm, in a low tax state, rental property and self employed, I’d guess you’d come out fairly well, @Nrdsb4 . But you’d need to, in order to pay those insurance premiums. That is unbelievable. Just awful!
@busdriver11 : When you challenge someone’s factual assertions, you are asking them to verify what they said. In some cases that can only be done by providing information that one is not willing to air publicly. That other might (foolishly, in my opinion) be willing to do so is irrelevant.
In any event, I take it you accept my assertion as to the effect the new law will have on me. Thank you.
Yes, I ran it through a calculator. It’s not as bad as it was previously (with the screw the grad tax).
I am following this like a hawk. I ran the numbers as soon as I could. I don’t have a lot of wiggle room in our budget and need to know if we needed to do things like divert less money to our retirement accounts (our contributions are pathetic right now as it is).
Meanwhile… Connecticut has ended its healthcare program for children as CHIP funding ran out for them today. #priorities
@busdriver, we are a no state income tax state, but have really high property taxes. So, I don’t know. Overall, we are very lucky (but of course, since all of our rental is in our retirement vehicle, we cannot yet access it).
I’m not really complaining, just feeling the pain of our insurance increase. We are very blessed overall; the insurance hurts, but at least we have coverage in the event of catastrophic illness.
We are strictly W2 and the online calculators are showing a decrease in taxes for 2018 as the lower tax rates offset switching from itemized deductions + exemptions to $24,000 standard deduction. But, I am too worried about the deficit and future cuts to SS and Medicare to be enthused about a small tax cut.
When you remove a group that was involuntarily subsidizing a service, the price will go up. Forcing citizens to purchase a product/service that they do not want seems distinctly un-American to me. I’m glad it is going, and hopefully some legislation aimed at actually reducing the cost of healthcare, like increasing competition and reducing liability for providers will help.
I don’t think many people realize how debilitating high US tax rates are for American business. What’s even more ridiculous is taxation on worldwide income for both corporations and individuals, and disclosure rules. This makes American expats face paperwork nightmares, and are unattractive to employers because of disclosure and extra liability. Large American firms do not pay anyway because of inversions and legal maneuvering, and small ones who do not have that option are automatically put at a disadvantage.
The end consumer pays for all of those taxes in the supply chain, so everyone who buys any product or service pays those taxes. Ironically, overseas producers do not pay them even when they sell their products in the US, which puts US firms at a further disadvantage.
There’s really no reason to be so rude about it. I know romani pretty well, and I was merely asking if she had run it through a calculator, as I was hoping she wouldn’t get a tax increase. Unlike you, she is not prickly about someone asking questions. In fact, after I asked, she clarified that it was not going to raise her taxes. I was not asking YOU.
@romanigypsyeyes, not until January 31st, along with 16 other states. http://thehill.com/policy/healthcare/365598-connecticut-to-end-childrens-health-program-unless-it-gets-money-from
Here are the other states and dates they will run out of money. http://www.cnn.com/2017/12/14/politics/chip-extended-states-funds-kimmel-authorization/index.html
Too bad these are born children and not “whatever the new word is” for fetus.
@Nrdsb4, I really hope that insurance situation changes for the better for you. I can’t imagine that it could get any worse. I had heard that the individual market had gotten unbelievably expensive, but your policy is the worst that I’d heard of. 
“Anyone else remember the rhetoric and predictions from our last highly regressive tax cut and getting deja vu? It was 2001; the prediction we were being sold was that any immediate deficit would be temporary and the government would be sitting on vast piles of surplus cash by 2017. Yep, way wrong.”
I remember that fiasco very well, Magnetron.
And I am laughing really hard as this Fake Cut has been called Tax Atrorney Job Security Act! Heck, they might not get their 20% discount, but they will make it up handsomely. 
If they are getting rid of the mandate, is the ban on covering pre-existing conditions remaining? If so, won’t there be an incentive to only buy insurance when you need it?
@emilybee oops you are correct. I should take my own advice and do more than read headlines. ]
Well I’m glad they have a month left. Poor kids 
[QUOTE=""]
Connecticut to end children’s health program unless it gets money from Congresss
[/QUOTE]
I’m disgusted that th house voted on a bill that the Senate parliamentarian says three things need to be removed from. Tells you a LOT about how carefully folks reviewed this bill before this vote.
What else is in it that will be voted in…because our Congress people didn’t read carefully…or because sufficient time was not allowed for folks to check for these sorts of errors.
The bill will probably pass the senate tonight, and it will probably pass the House…again … tomorrow.
It does not simplify the tax code. It does not give permanent relief to middle class earners…they only get temporary relief.
For someone like me…I’m not going to see an $1800 increase in my “pay”. It’s just not going to happen.
“If they are getting rid of the mandate, is the ban on covering pre-existing conditions remaining? If so, won’t there be an incentive to only buy insurance when you need it?”
One can only purchase insurance for the following year during the open enrollment sign up period - which has been shortened by the Trump administration. This year it ended on the Federal Marketplace last Friday. Some states, who run their own marketplace, are open until Jan. 15. So, if someone didnt sign up already and gets a diagnosis, of say cancer, on January 16th or anytime after that, they won’t be able to purchase insurance until next November. Of course, they can opt to not get any treatment until then, but I doubt most people would choose to wait that long.
You are familiar with the definition of incentive, right?