Wednesday, July 31, 2013

The ObozoCare Earnings Trap

SanFranNan strikes again!

...Under the ACA, federal subsidies in the form of tax credits to buy insurance on new state health insurance exchanges will be available to millions of people who can start enrolling on those exchanges Oct. 1. The subsidies are available to people or families whose incomes total 400 percent above the federal poverty level or less, and are designed to cap their insurance premiums at 9.5 percent of their total income.

For a single person, that FPL income maximum is $45,960 per year. The maximums are adjusted upward for couples and families until maxing out at $94,200 for a family of four.

Under a scenario that identified, a couple in Ohio, both age 50, would be eligible for subsidies worth $3,452 to purchase a so-called silver insurance plan—a moderately priced level of benefits under the ACA’s scheme—that costs $9,346 annually if they made up to $62,040 per year.

But if they made just $1 more than that, they would lose the subsidy. Wu noted that the couple then would have to earn at least $65,492 to make up for the lost subsidy...--Quoted at AmSpecBlog

The second highlight is the point of the original article.

But it's worth re-reading the first highlight:  ObozoCare premiums will snatch NINE AND A HALF PERCENT of your income

That's "free" health-care, right?


Anonymous said...

"But it's worth re-reading the first highlight: ObozoCare premiums will snatch NINE AND A HALF PERCENT of your income."

Hey that's an improvement over the 13% Blue Cross hit us with last year!

Dad29 said...

Are you telling us that your healthcare premium is 13.5% of your gross pay?

Or are you misreading the post?

Anonymous said...

Ok, I'm an illiterate union member. Happy now, bitch?