The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media
Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: What's in Obamacare?

  1. #1
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,865

    Default What's in Obamacare?

    Here's some of what we now know. Sorry some of the formatting got lost in the "pasting".

    Obamacare Packs Crushing New Taxes
    Friday, 14 Jan 2011 08:53 AM

    By Grover Norquist
    From the ATR website.

    Next week, the U.S. House of Representatives will be voting on a historic repeal of the Obamacare law.

    While there are many reasons to oppose this flawed government health insurance law, it is important to remember that Obamacare is also one of the largest tax increases in American history.

    Below is a comprehensive list of the two dozen new or higher taxes that pay for Obamcare’s expansion of government spending and interference between doctors and patients.

    Individual Mandate Excise Tax (January 2014): anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following.

    1 Adult2 Adults3+ Adults
    20141% AGI/$951% AGI/$1901% AGI/$285
    20152% AGI/$3252% AGI/$6502% AGI/$975
    2016+2.5% AGI/$6952.5% AGI/$1,3902.5% AGI/$2,085

    Exemptions for religious objectors, undocumented immigrants, prisoners, those earning less than the poverty line,
    members of Indian tribes, and hardship cases (determined by HHS).

    Employer Mandate Tax (January 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 $2,000 for all full-time employees. This provision 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 $3,000. 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).
    Combined score of individual and employer mandate tax penalty: $65 billion/10 years.

    Surtax on Investment Income ($123 billion/January 2013): This increase involves the 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.

    Capital GainsDividendsOther*
    201015%15%35%
    2011-2012 (now)20%39.6%39.6%
    2011-2012 (budget)20%20%39.6%
    2013+ (now)23.8%43.4%43.4%
    2013+ (budget)23.8%23.8%43.4%

    *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 percent surtax does not apply to non-resident aliens.

    Excise Tax on Comprehensive Health Insurance Plans ($32 billion /January 2018): New 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). For early retirees and high-risk professions exists a higher threshold ($11,500 single/$29,450 family). CPI +1 percentage point indexed.

    Hike in Medicare Payroll Tax ($86.8 billion/January 2013): Current law and changes:
    First $200,000
    ($250,000 Married)
    Employer/EmployeeAll Remaining Wages
    Employer/Employee
    Current Law1.45%/1.45%
    2.9% self-employed1.45%/1.45%
    2.9% self-employed
    Obama Tax Hike1.45%/1.45%
    2.9% self-employed1.45%/2.35%
    3.8% self-employed

    Medicine Cabinet Tax ($5 billion/January 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).

    HSA Withdrawal Tax Hike($1.4 billion/January 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.

    Flexible Spending Account Cap — “Special Needs Kids Tax” ($13 billion/January 2013): Imposes cap of $2,500 (indexed to inflation after 2013) on FSAs (now unlimited). 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.

    Tax on Medical Device Manufacturers($20 billion/January 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3 percent excise tax. Exemptions include items retailing for less than $100.
    Raise "Haircut" for Medical Itemized Deduction From 7.5 percent to 10 Percent of AGI ($15.2 billion/January 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; it is waived for taxpayers 65 or older in 2013-2016 only.

    Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons.

    Elimination of Tax Deduction for Employer-Provided Retirement Rx Drug Coverage in Coordination With Medicare Part D ($4.5 billion/January 2013)

    Blue Cross/Blue Shield Tax Hike ($0.4 billion/January 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.

    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.

    Tax on Innovator Drug Companies($22.2 billion/January 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.

    Tax on Health Insurers($60.1 billion/January 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. The stipulation phases in gradually until 2018, and is fully-imposed on firms with $50 million in profits.

    $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 billion/January 2013)

    Employer Reporting of Insurance on W-2 (Min./January 2011): Preamble to taxing health benefits on individual tax returns.

    Corporate 1099-MISC Information Reporting ($17.1 billion/January 2012): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers.

    “Black Liquor”($23.6 billion): This is a tax increase on a type of bio-fuel.

    Codification of the “Economic Substance Doctrine” ($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.
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  2. #2
    Senior Member huntinman's Avatar
    Join Date
    May 2009
    Location
    Tennessee
    Posts
    6,950

    Default

    That's just what they have been able to uncover so far. If Obamacare survives, it will take years to discover all the damage that has been done. Look at all the little surprises that have already been revealed! Change we can believe in my a$$.
    Bill Davis

  3. #3
    Senior Member BonMallari's Avatar
    Join Date
    Feb 2008
    Location
    LV/CenTex/Idaho
    Posts
    12,548

    Default

    Now how about a list of all the employers that got health mandate waivers....

    this is just a partial list

    http://www.hhs.gov/ociio/regulations...or_waiver.html
    Last edited by BonMallari; 01-19-2011 at 11:25 PM.
    All my Exes live in Texas

    Quote Originally Posted by lanse brown View Post
    A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

  4. #4
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,865

    Default

    Nice to know that at least 1.5 million workers will not have to change their health care plan

    I do remember that the unions were going to be exempt from having "deluxe" benefits being taxed (as the law calls for).

    Also a lot of insurance companies on that list
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  5. #5
    Senior Member huntinman's Avatar
    Join Date
    May 2009
    Location
    Tennessee
    Posts
    6,950

    Default

    Quote Originally Posted by Gerry Clinchy View Post
    Nice to know that at least 1.5 million workers will not have to change their health care plan

    I do remember that the unions were going to be exempt from having "deluxe" benefits being taxed (as the law calls for).

    Also a lot of insurance companies on that list
    Isn't that special? The ones who campaigned hardest for it...don't want to be on it...
    Bill Davis

  6. #6
    Senior Member
    Join Date
    Jun 2006
    Posts
    3,126

    Default

    Quote Originally Posted by Gerry Clinchy View Post
    Nice to know that at least 1.5 million workers will not have to change their health care plan

    I do remember that the unions were going to be exempt from having "deluxe" benefits being taxed (as the law calls for).

    Also a lot of insurance companies on that list
    Imagine that!!!

    Follow the money regards

  7. #7
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,865

    Default

    When they cut $500 milllion from Medicare ... so that Obamacare could be "deficit neutral" ... that $ had to come from somewhere to keep Medicare afloat. Guess where it'll come from?

    Congress will not allow an increase in the social
    security COLA (cost of living adjustment).

    However, the per person monthly Medicare insurance premium will be increased from the 2009 premium of $96.40 to
    $104.20 in 2010,
    $120.20 for the year 2011
    AND
    Yearly increases to a wonderful $247.00 in 2014.
    (This is an amount that is automatically deducted from SS payments each month)

    2014 is also the year that it is mandatory for all individuals to have health insurance.
    By then, the first 5 years from passage of the law seniors' health insurance from the govt will have increased 256%.

    That will not include the increases to accompanying Medicare supplemental insurance, of course.

    Presumably, Medicare always included pre-existing conditions. Might give us a hint where Obamacare is headed for everybody else.
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  8. #8
    Senior Member road kill's Avatar
    Join Date
    Feb 2009
    Location
    New Berlin, WI
    Posts
    10,661
    Stan b & Elvis

  9. #9
    Senior Member
    Join Date
    Nov 2006
    Location
    Pac NW
    Posts
    4,216

    Default

    Quote Originally Posted by Gerry Clinchy View Post
    When they cut $500 milllion from Medicare ... so that Obamacare could be "deficit neutral" ... that $ had to come from somewhere to keep Medicare afloat. Guess where it'll come from?

    Congress will not allow an increase in the social
    security COLA (cost of living adjustment).

    However, the per person monthly Medicare insurance premium will be increased from the 2009 premium of $96.40 to
    $104.20 in 2010,
    $120.20 for the year 2011
    AND
    Yearly increases to a wonderful $247.00 in 2014.
    (This is an amount that is automatically deducted from SS payments each month)

    2014 is also the year that it is mandatory for all individuals to have health insurance.
    By then, the first 5 years from passage of the law seniors' health insurance from the govt will have increased 256%.

    That will not include the increases to accompanying Medicare supplemental insurance, of course.

    Presumably, Medicare always included pre-existing conditions. Might give us a hint where Obamacare is headed for everybody else.
    Having done a major bypass just after I went on Medicare & a recent RC surgery I found the program quite adequate as it was. The surgeons would not do medicare so were paid in full. Didn't have a problem with that as I was on the table 5 hours. In this case it prevented some major gouging by the ambulance service, hate to be without insurance dealing with those guys.

    Right now I believe there to be an income limit where if you are above a certain income you already pay more than the $96.40.

    But I do remember Rosty being accosted by all the old folks in Chi town over the last premium increase. So the congresscritters with a youthful base are probably home free, not so with the golden oldies. As I read in a recent article 65% of those who graduate from the University still have very few cognitive & reasoning skills . That might help explain some of the lefties on this forum .

    I also thought the prescription drug thing an unfunded program & do not support elimination of the donut hole. But you have to join for pocketbook protection.

    Quote Originally Posted by Gerry Clinchy View Post
    Nice to know that at least 1.5 million workers will not have to change their health care plan

    I do remember that the unions were going to be exempt from having "deluxe" benefits being taxed (as the law calls for).

    Also a lot of insurance companies on that list
    Anyone who believes this administration does not want to choose winners & losers, as with most political animals, needs to learn fundamental reasoning. This administration is just more blatant about it.

    But I'd like to add a little food for thought - the recently incapacitated congresswoman has been receiving the best of care, at whose expense? She has probably exceeded the deductible that most have in their policies.

    My thought would be - Doesn't everyone who has led a productive life deserve the same consideration?

    Maybe the surgeon who frequents this forum can give us a little professional insight regarding their responsibilities & the rights patient's should have .
    __________________________

    Marvin S

    Everyone's friend is No One's friend

    Someday your life will flash before your eyes. It's your responsibility to make sure it's worth watching!

  10. #10
    Senior Member Uncle Bill's Avatar
    Join Date
    Jan 2003
    Location
    Rapid City, SD
    Posts
    4,289

    Default

    This was sent to me last week. Have no idea if it's accurate, but it probably is, since the entire bill is a nightmare.

    UB






    YOU ARE NOT GOING TO LIKE THIS:


    ObamaCare Highlighted by Page Number




    THE CARE BILL HB3200






    THIS IS THE 2ND OFFICIAL WHO HAS OUTLINED THESE PARTS OF THE CARE BILL




    Judge Kithil of Marble Falls, TX - HB3200 highlighted pages most egregious


    Please read this........ especially the reference to pages 58 & 59





    JUDGE KITHIL wrote:






    ** Page 50/section 152: The bill will provide insurance to all non-U.S. residents, even if they are here illegally.


    ** Page 58 and 59: The government will have real-time access to an individual's bank account and will have the authority to make electronic fund transfers from those accounts.


    ** Page 65/section 164: The plan will be subsidized (by the government) for all union members, union retirees and for community organizations (such as the Association of Community Organizations for Reform Now - ACORN).


    ** Page 203/line 14-15: The tax imposed under this section will not be treated as a tax. (How could anybody in their right mind come up with that?)


    ** Page 241 and 253: Doctors will all be paid the same regardless of specialty, and the government will set all doctors' fees.


    ** Page 272. section 1145: Cancer hospital will ration care according to the patient's age.


    ** Page 317 and 321: The government will impose a prohibition on hospital expansion; however, communities may petition for an exception.


    ** Page 425, line 4-12: The government mandates advance-care planning consultations. Those on Social Security will be required to attend an "end-of-life planning" seminar every five years. (Death counseling..)


    ** Page 429, line 13-25: The government will specify which doctors can write an end-of-life order.


    HAD ENOUGH???? Judge Kithil then goes on:


    "Finally, it is specifically stated that this bill will not apply to members of Congress. Members of Congress are already exempt from the Social Security system, and have a well-funded private plan that covers their retirement needs. If they were on our Social Security plan, I believe they would find a very quick 'fix' to make the plan financially sound for their future."


    Honorable David Kithil
    Marble Falls, Texas



































































    When the one you love becomes a memory, that memory becomes a treasure.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •