Yellow Bullet Forums banner

1 - 20 of 182 Posts

·
Registered
Joined
·
1,464 Posts
Discussion Starter #1
What Obamacare has in store for you


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 <$100. Bill: PPACA; Page: 1,980-1,986

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 2018): 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!

Vote for candidates who promise to repeal this horrible legislation!!!
 

·
Registered
Joined
·
655 Posts
I can't believe this shit. I wonder how all the ignorant dumb mother fuckers feel that voted for this waste of space.
 

·
Registered
Joined
·
3,161 Posts
I can't believe this shit. I wonder how all the ignorant dumb mother fuckers feel that voted for this waste of space.
They think this is a good thing.....

I agree with the guy above... If he gets re elected, we are all fucked...
 

·
Registered
Joined
·
20,089 Posts
well, the Supreme Court doesnt work any better than the rest
take away Roberts, and the rest voted along party lines-4 were installed by Dems., 4 by Rebs., and the voting was 50/50, the 4 Dems voted for, the 4 Rebs voted against
only Roberts broke ranks, voted for, based on his inter. of it referring to the new "tax", as allowable
it looks to me as the Supreme court cant interp. the law, only vote acc. to party lines, and a president can manip. the court by his chance to appt. someone who will side with his party-to me that doesnt seem right to the American public
i dont know how you could get 9 neut. people though, with no party affil.
 

·
Registered
Joined
·
20,012 Posts
The tax hikes are as follows:
1. 10% tax on indoor tanning services;
2. Eliminate tax deduction for those employers who provide Medicare prescription drug coverage;
3. Increase HSA penalties by 50% to 20%;
4. Cap employer contributions to tax-free FSAs at $2,500. As of now, the “limit” is determined by your business;
5. Prohibit HSA funds from being used to purchase over-the-counter drugs;
6. Medicare surtax for individuals making $200,000 and families earning $250,000, as well as a 3.8% Medicare tax on investment income for these taxpayers;
7. You will have to spend 10% of your income on medical expenses before making itemized deductions. Currently, the starting point is 7.5%;
8. Employer mandate. All businesses with more than 50 employees will have to offer approved health plans or pay a tax of $2,000 per employee;
9. A Cadillac tax will charge high-value plans ($10,200 for individuals and $27,500 for families) a 40% excise tax;
10. Individual mandate. Everyone much purchase health insurance or pay a fee. According to the National Review, it “starts in 2014 at $95 or 1 percent of gross income, whichever is greater; and maxes out in 2016 at the greater of $695 or 2.5 percent of income.”
The 13th change would require employers to disclose health costs on W-2s.
 

·
Registered
Joined
·
18,367 Posts
Our politicians have been fucking the people of this country for at least 32 years! It didn't start 3.5 years ago folks!
 

·
Registered
Joined
·
6,081 Posts
I work in anesthesia snd talk daily to the surgeons. The best ones only take 10% medicaid/medicare and the wait is about 6 months. The gov't insurance exchanges will follow under this group and the wait will be even longer. Half the family practice guys are doing private insurance or cash only. Good luck to the people whothink this will work great, i hope you speak middle east.
 

·
Registered
Joined
·
8,135 Posts
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

-------------------------------------------------------------------------------------------
Wow... that just crazy.... I can see the bloodsuckers screwing us over but kids. really?
 

·
Registered
Joined
·
385 Posts
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 <$100. Bill: PPACA; Page: 1,980-1,986

#12 will bend me and this entire community over backwards and put it in dry. Total bullshit.
 
1 - 20 of 182 Posts
Top