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There is a sliding scale of subsidies for people making less than 400% of poverty level (for a family of four that's something in the neighborhood of $88K per year). For a single person it's around $44K.
Of course, at the top of the range the subsidies will be very small and at the bottom they will be very large.
Various new taxes in the bill will undoubtedly pay for some of this.
The level that you reference depends on the person's age. My age "50" tops out about $46,000 modified adjusted gross income for a partial subsidy.
Assuming that I'm earning the same in the year 2014, I will have to "rig" it to where I don't make too much adjusted gross income and thus not be able to qualify for the subsidy. The piddling amount that I earn in interest income (about $4-5k/year) will have to be put in something else. Or I have to find other deductions in order to not pay for all the breeders and bums.
2012 FPL (Federal Poverty Level) for single indiv is $11.170/year; 400% of FPL is $44,600/year. Anything above this and you pay your own way 100%.
The level that you reference depends on the person's age. My age "50" tops out about $46,000 modified adjusted gross income for a partial subsidy.
Assuming that I'm earning the same in the year 2014, I will have to "rig" it to where I don't make too much adjusted gross income and thus not be able to qualify for the subsidy. The piddling amount that I earn in interest income (about $4-5k/year) will have to be put in something else. Or I have to find other deductions in order to not pay for all the breeders and bums.
Maybe open a Roth IRA for that interest income to make it deferred.
Don't you care about the children? We have to see that they are educated and healthy to have a strong nation.
Seriously -- isn't that the duty of parents? Isn't that why children are born to parents?
Say instead of kids I would prefer to have horses. Should I expect you to cough up your income to pay for the hay and veterinarian care of my horses? Shouldn't we all care about the well-being of people's pets?
Maybe open a Roth IRA for that interest income to make it deferred.
Could be. I heard on Suze Orman once that it's better to be taxed on income now, rather than later due to the future higher tax brackets that are predicted due to the growing entitlements that will be needed for the Baby Boomers.
And what would be my subsidy through higher insurance rates, or government subsidy to healthcare providers if your 50 year old uninsured person requires extensive medical care?
Perhaps you might also take the time to explain how so unfair for a hypothetical 50 year old who makes only $70,000.00 to be subsidized by healthy twenty years olds (like health 20 year olds can't become unhealthy 20 year olds as the drop of a hat) and the rest of us for that matter when they show up at a hospital with a critical illness and lacking health insurance or enough in earnings to pay for such care as we do now and prior to the passage of the ACA?
*Let me point out that a recent stay in the hospital for a bacterial infection would have completely wiped out that $70,000 yearly income in a mere four days. God help someone with cancer or some other long term critical illness.
who had better not have a pre-existing condition (rare), or due to age is at a higher risk for incurring major medical costs in the near future who prior to the passage of ACA might find it difficult to find health insurance or insurance at a price which wouldn't be prohibitive?
I ask this because the whole issue was brought home to me very recently, when a localized bacterial infection resulted in my succumbing to toxic shock syndrome, a four day stay in the hospital with resulted in so far $70,032.00 in medical charges. Without the insurance (my wife and I earn almost twice your yearly income) we would be in all likelihood would have to seek bankruptcy protection. And if my wife lost her job (a constant threat for the last 5 years)
And exactly why did that have to be $70,032.00 in medical charges? Could it be the over $9,000,000 salaries the hospital CEOs get? A very nice hotel room might cost you $150 a night, that's $600 total, and the doctor may have spent a total of $2 hours on your case -- so give him $800. The medications may have been $2000 -- so where did the rest go?
Don't you care about the children? We have to see that they are educated and healthy to have a strong nation.
No, People that breed children need to pay for it themselves. It's bad enough that we are forced to pay for their schooling through costly property taxes.
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Originally Posted by StillwaterTownie
Obviously, you need to shop around for a better health insurance deal.
Upon further reading, I understand that there will be minimum standards of healthcare coverages to be offered through the Exchanges. The so-called "junk" coverage with very high deductibles will not be offered.
As in every government program, working single taxpayers end up subsidizing those with children (taxpaying or not). I used this link to figure my tax requirement. It's not pretty. As a 50 year old single adult earning $70,000 in 2014, I would be required to pay $6.978/yr for coverage with $0 subsidy from the gov't. The family of 4 earning the same amount would receive a $10,232 subsidy from the gov't and actually pay LESS premium ($6,626) than I would despite the fact that it's covering more lives.
I have been a loyal Democrat since 1984, but this is going too far!!! Why must I always carry the load for this society? Why don't people with families ever pay their own way??!!
That's for a silver coverage health plan with a medium regional cost factor. The bronze plan is cheaper. I live in an area where the regional cost factor is low. So using your criteria, my monthly premium for silver coverage would be $465 vs $581. Purchasing a chrome plan would lower the premium even more.
It's really not a bad deal. It's especially a sweet deal for a low income single person who doesn't have access to employer provides insurance.
My results are $8000 in premiums. That's good for a family of 4. My employer pays $16k a year now. I'm willing to let my employer pay for my Obamacare. They can keep the other $8K and use for overhead. Win win situation for us both, what's the problem.
Could be. I heard on Suze Orman once that it's better to be taxed on income now, rather than later due to the future higher tax brackets that are predicted due to the growing entitlements that will be needed for the Baby Boomers.
Once you retire though your bracket drops. That's when you can afford to take out money that hasn't been taxed yet. It's still deferred until you take it out and you don't have to take all out at once.
You might want to go over to the Business forum (renamed Economics) and see what others are saying.
Yeah..next 2 years could be a doozie regarding taxes. AMT fix expires and they predict millions of middle class Americans will be hit with it.
And exactly why did that have to be $70,032.00 in medical charges? Could it be the over $9,000,000 salaries the hospital CEOs get? A very nice hotel room might cost you $150 a night, that's $600 total, and the doctor may have spent a total of $2 hours on your case -- so give him $800. The medications may have been $2000 -- so where did the rest go?
Concrete and asphalt McMansions of Sterility.
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