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Originally Posted by BigBrodieFan
Why? What is selfish about it? If something catastrophic happened, we are perfectly in position to pay cash, at a lowered price. I know that if something were to happen, if I do not pay the bills I am chancing losing my home. I don't think it's any of the government's business what I do. I don't think that Obama gets to say 'You have to pay $337/month for health care whether or not you need it, or you're screwed on your taxes. It's extortion really when you think about it.
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Unless required by your employer, opting out of health insurance is still an option. Is 1% of taxable household income more than the $4044 in premiums he's currently paying?
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Beginning on January 1, 2014, any person without qualifying health coverage must pay a tax penalty, either a flat rate or a share of household income, whichever amount is greater. The flat rate penalty is phased-in: starting in 2014 at $95 per year, increasing to $325 in 2015, and $695 in 2016. After 2016, the flat rate tax penalty increases annually with a cost-of-living adjustment. The maximum a flat rate tax for a family per year is $2,085 (3 times $695), no matter how large the family.
The other option is a penalty based on a share of household income that is also phased in, starting in 2014 at 1 percent of taxable income, increasing to 2 percent of taxable income in 2015 and maxing out at 2.5 percent of taxable income in 2016 and the years that follow.
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ACA 101
I'm certainly not an expert on the topic, but the biggest issue I see with the ACA is that no one knows what it really entails. People are getting their information from third parties and not researching it themselves. Yes, this also includes the legislators that had the responsibility of making it law.
On a personal note, my company rep on the health insurance commission had no idea that the
80% rule even existed, so I've got that going for me. We weren't given a refund because our insurance company is a self funded co-op and spends much more than 80% on services. I know a few people that have, though.