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Thread: Congress wakes up to Obamacare :-)

  1. #11
    Senior Member Henlee's Avatar
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    http://thomas.loc.gov/cgi-bin/bdquer..../temp/~bdaXCo::

    The Grassley admenment appeared to have died in committee.

    I understand the apprehension about the ACA, but why do you any of you think that it will lead to nationalized health care?
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  2. #12
    Senior Member Gerry Clinchy's Avatar
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    Buzz, I found this info on how Obamacare will impact low-wage workers ...

    http://www.nationalreview.com/articl...n-kay-melchior

    Basically, the low-income worker may likely stay uninsured, still use the emergency rooms, still not be able to pay his/her medical bills (still creating write-offs for drs & hospitals who treat them). One commentator speculated that there would still be 30 million uninsured ... just not the same 30 million who were uninsured before. The end result, costs go up but the problem is left unsolved, or even made worse!

    However, this article doesn't mention the additional tax if the employer selects a "better" plan for his company, and pays for it. The low-income worker will still be paying more out of pocket due to the taxation of his health insurance benefit.

    I'm surprised that that "hidden" tax has not come up in all the stuff I've read about the ACA.
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  3. #13
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    Quote Originally Posted by Gerry Clinchy View Post
    Buzz, I found this info on how Obamacare will impact low-wage workers ...

    http://www.nationalreview.com/articl...n-kay-melchior

    Basically, the low-income worker may likely stay uninsured, still use the emergency rooms, still not be able to pay his/her medical bills (still creating write-offs for drs & hospitals who treat them). One commentator speculated that there would still be 30 million uninsured ... just not the same 30 million who were uninsured before. The end result, costs go up but the problem is left unsolved, or even made worse!

    However, this article doesn't mention the additional tax if the employer selects a "better" plan for his company, and pays for it. The low-income worker will still be paying more out of pocket due to the taxation of his health insurance benefit.

    I'm surprised that that "hidden" tax has not come up in all the stuff I've read about the ACA.
    I'm wondering how the IRS will figure the tax for the "better" plan. If the individual has to pay the tax then how will it be figured for the hourly wage employee?

  4. #14
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  5. #15
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by caryalsobrook View Post
    I'm wondering how the IRS will figure the tax for the "better" plan. If the individual has to pay the tax then how will it be figured for the hourly wage employee?
    I might suspect that it will be computed on each weekly paycheck by extrapolation ... so the fellow who worked a lot of overtime was "taxed" on extrapolating that income to a full year. If he works a normal week, the tax will be applied by extrapolating that smaller amount to a full year. If he only occasionally works the longer hours, he will have a refund coming to him when he files his taxes?
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    Quote Originally Posted by Gerry Clinchy View Post
    I might suspect that it will be computed on each weekly paycheck by extrapolation ... so the fellow who worked a lot of overtime was "taxed" on extrapolating that income to a full year. If he works a normal week, the tax will be applied by extrapolating that smaller amount to a full year. If he only occasionally works the longer hours, he will have a refund coming to him when he files his taxes?
    I thought the tax was 40% of the premium cost. I wondering why it is computed on how many hours you work and what your pay is. Let's say the tax is $1200.00/yr or about $25.00/wk. Why wouldn't they just take out $25.00/wk instead of using the #hrs? Makes no sense bu maybe why should it?

  7. #17
    Senior Member Gerry Clinchy's Avatar
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    Quote Originally Posted by caryalsobrook View Post
    I thought the tax was 40% of the premium cost. I wondering why it is computed on how many hours you work and what your pay is. Let's say the tax is $1200.00/yr or about $25.00/wk. Why wouldn't they just take out $25.00/wk instead of using the #hrs? Makes no sense bu maybe why should it?
    I'm thinking that it's a %-age of annual income. The weeks he works lots of overtime, it makes his "anticipated" annual income look higher than those weeks when his gross compensation is less. It could be that below a certain annual wage, there is some "subsidy".

    Easy to see why no one understands the rules on this law
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  8. #18
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    Quote Originally Posted by Gerry Clinchy View Post
    I'm thinking that it's a %-age of annual income. The weeks he works lots of overtime, it makes his "anticipated" annual income look higher than those weeks when his gross compensation is less. It could be that below a certain annual wage, there is some "subsidy".

    Easy to see why no one understands the rules on this law
    "%-age of annual income???" So just additional income tax based on the type of health insurance policy policy you have. Oh I forgot. "If you have health insurance, you will be able to keep your insurance." "I WILL NOT RAISE TAXES ON THE MIDDLE CLASS UNDER ANY CIRCUMSTANCES" Did anybody REALLY believe that????????????????????? Oh I forgot, just another claim that a man from Kenya occupies the White House. How stupid can you get?

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