Obamacare sticker shock in CA: Prices lower than expected

Radio Refugee · Jun 3, 2013

Radio Refugee said: ↑

WE HATE COMPLEX LEGISLATION. WE HATE COMPLEX GOVERNMENT. It's not working. More law can't fix bad existing institutions.
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An example:

In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance.

To help illustrate these rules, the IRS presented examples of different situations families might find themselves in.

In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.

Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a "penalty" (a word the IRS still uses despite the Supreme Court ruling that it is in fact a "tax") of $2,400 in 2016.

For those wondering how clear the IRS's clarifications of this new "penalty" rule are, here is one of the actual examples the IRS gives:

“Example 3. Family without minimum essential coverage.

"(i) In 2016, Taxpayers H and J are married and file a joint return. H and J have three children: K, age 21, L, age 15, and M, age 10. No member of the family has minimum essential coverage for any month in 2016. H and J’s household income is $120,000. H and J’s applicable filing threshold is $24,000. The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000.
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Here's the part I really like:

"(ii) For each month in 2016, under paragraphs (b)(2)(ii) and (b)(2)(iii) of this section, the applicable dollar amount is $2,780 (($695 x 3 adults) + (($695/2) x 2 children)). Under paragraph (b)(2)(i) of this section, the flat dollar amount is $2,085 (the lesser of $2,780 and $2,085 ($695 x 3)). Under paragraph (b)(3) of this section, the excess income amount is $2,400 (($120,000 - $24,000) x 0.025). Therefore, under paragraph (b)(1) of this section, the monthly penalty amount is $200 (the greater of $173.75 ($2,085/12) or $200 ($2,400/12)).
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This part almost goes without saying:

"(iii) The sum of the monthly penalty amounts is $2,400 ($200 x 12). The sum of the monthly national average bronze plan premiums is $20,000 ($20,000/12 x 12). Therefore, under paragraph (a) of this section, the shared responsibility payment imposed on H and J for 2016 is $2,400 (the lesser of $2,400 or $20,000).”
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CHARnobyl · Jun 4, 2013

raytri said: ↑

The conservative fascination with the page-count of bills is jaw-dropping. They seem to think that legislation regulating complex topics can be written in a few crayon-colored sentences.

I think the anti-intellectualism of much of the right is coming home to roost.
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The liberal fascination with rule-count is even more jaw-dropping. They seem to act as if they are paid 'piece-work' and that the more they produce, the more money they will get to spend. And as our government expands more and more, we are being sucked into an inescapable black hole by the sheer relentless weight and burden of more rules and regulations.

If, indeed, our alleged anti-intellectualism is coming home to roost, you're the ones who laid the eggs.

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Obamacare sticker shock in CA: Prices lower than expected

Radio Refugee New Member

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Obamacare sticker shock in CA: Prices lower than expected

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