Average cost, as pointed out, in considerably higher for the insurance than the fine.
ObamaCare revisited
- Thread starter Gonz
- Start date
Average cost, as pointed out, in considerably higher for the insurance than the fine.
spike
New Member
As pointed out, they would save even more money if there was no fine. As it is currently. So the fine encourages them TO provide health insurance.
It's better to pay ($3500*) than to pay $750.? You're new to mathematics aren't you?
*hypothetical number used to represent an outlay...it is, in thie case, representational only
I see your confusion.
Today, they pay $3500, provide a benefit to the employee to enhance the pay package.
When the government provides that benefit, at no cost to the employer, but fines ther employer less than the cost of the benefit...
clearer?
spike
New Member
I think I see your confusion
Today they might pay $3500, provide a benefit to the employee to enhance the pay package.
If they don't the employee will need to pay for private health insurance and there is no fine for the employer.
In the future they might pay $3500 to provide a benefit to the employee to enhance the pay package.
If they don't the employee will need to pay for private insurance or pay for the public option. There will be a $750 fine on the employer.
This encourages the employer to provide insurance to enhance their pay package with insurance.
ResearchMonkey
Well-Known Member
Employer Mandate Excise Tax (Page 275): If an employer does not pay 72.5 percent of a single employee’s health premium (65 percent of a family employee), the employer must pay an excise tax equal to 8 percent of average wages. Small employers (measured by payroll size) have smaller payroll tax rates of 0 percent (<$500,000), 2 percent ($500,000-$585,000), 4 percent ($585,000-$670,000), and 6 percent ($670,000-$750,000).
Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium. MAGI adds back in the foreign earned income exclusion and municipal bond interest.
Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.
Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped).
Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20 percent (current law is 10 percent). This disadvantages HSAs relative to other tax-free accounts (e.g. IRAs, 401(k)s, 529 plans, etc.)
Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services.
Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.
Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5 percent of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.
Source
Individual Mandate Surtax (Page 296): If an individual fails to obtain qualifying coverage, he must pay an income surtax equal to the lesser of 2.5 percent of modified adjusted gross income (MAGI) or the average premium. MAGI adds back in the foreign earned income exclusion and municipal bond interest.
Medicine Cabinet Tax (Page 324): Non-prescription medications would no longer be able to be purchased from health savings accounts (HSAs), flexible spending accounts (FSAs), or health reimbursement arrangements (HRAs). Insulin excepted.
Cap on FSAs (Page 325): FSAs would face an annual cap of $2500 (currently uncapped).
Increased Additional Tax on Non-Qualified HSA Distributions (Page 326): Non-qualified distributions from HSAs would face an additional tax of 20 percent (current law is 10 percent). This disadvantages HSAs relative to other tax-free accounts (e.g. IRAs, 401(k)s, 529 plans, etc.)
Denial of Tax Deduction for Employer Health Plans Coordinating with Medicare Part D (Page 327): This would further erode private sector participation in delivery of Medicare services.
Surtax on Individuals and Small Businesses (Page 336): Imposes an income surtax of 5.4 percent on MAGI over $500,000 ($1 million married filing jointly). MAGI adds back in the itemized deduction for margin loan interest. This would raise the top marginal tax rate in 2011 from 39.6 percent under current law to 45 percent—a new effective top rate.
Excise Tax on Medical Devices (Page 339): Imposes a new excise tax on medical device manufacturers equal to 2.5 percent of the wholesale price. It excludes retail sales and unspecified medical devices sold to the general public.
Source
Mirlyn
Well-Known Member
Why cap and/or restrict FSAs? I put OTC allergy medications on ours. I can't come up with a remotely related reason to touch FSAs, other than to force people into an option. This was supposed to be about offering affordable care, not forcing you into an insurance policy.
Doesn't solve the problem.
Cerise
Well-Known Member
In 2006.
And in 2008, put The Blame Where it's Due -- Post election day numbers :
The Dow Jones Industrial Average lost 486.01 points, or 5.05%, to 9139.27, the broader S&P 500 dropped 52.98 points, or 5.27%, to 952.77 and the Nasdaq Composite slid 98.48 points, or 5.53%, to 1681.64.
Cerise
Well-Known Member
That pic is sickening. Just look at the self-satisfied smirks on their faces.
Fwank is the Banking Queen
Fwank is the Banking Queen