It is very sad that:
- Food Stampers have exploded(1/6 of adults)
- Total Unemployed – nearly (14%)
- Medicaid & Welfare recipients at record highs (over $1 trillion annually, not including social security or medicare)
- Social Security due to disability – up 21% since 2007
- Free lunch (and breakfast at many schools) exploding (18.7 million kids)
Now comes the grandaddy (Gov. program)of them all; Subsidized health care (Subsidy calculator – I suggest you click this to how simple it is to qualify). People making up to 4x the poverty level (up to $94,200 for a family of four)will now be eligible for a government handout of taxpayer money to help pay for their healthcare. This will successfully accomplish the current administration’s intended purpose of greatly expanding the number of Americans getting some form of government subsidy. Please tell me why people that can afford satellite TV and smart phones should be getting taxpayer money to pay for medical insurance…..
In 2010, Americans were promised more medical benefits for less money (lower insurance premium). Did anyone really believe this was possible?
Imagine if the government mandated that your auto insurance carrier had to cover oil changes, tire rotations and other general maintenance items at no cost to you at the point of service. What do you think would happen to your auto insurance premiums?
What if they went further and told auto insurer’s that those with poor driving records MUST be offered full coverage at the same premium as everybody else? Under what definition of “fair” would this fall?
This is comparable to what health insurer’s are faced with today. Health insurance companies are mandated to offer people who “are huge claims waiting to happen” insurance for the same price as someone with no health conditions.
As of October 1st, individuals and families can begin going online and applying for health insurance effective for 1/1/14. They can apply directly with the health insurance companies (most policies will be very similar as they are mandated to cover the same things) or they can apply via their state exchange if they would like to apply for a government subsidy. The initial “open enrollment” period runs through March of next year.
The subsidy is based on what you think you will earn in the next year. If your income varies, (you may be able to get away with low-balling your estimate and having taxpayer money subsidize part of your premium (this is not a joke). You can sign up for the policy online and go through the income section. You will be told if you qualify for a government subsidy of your premium and how much the government will contribute toward your premium. Then you can choose from one of five different plans with a varying level of benefits and depending on the cost of the plan you would be responsible for whatever the difference was between the cost of the plan you choose and the amount the government was going to subsidize. Click on the link on my website to apply.
IF YOU CHOOSE NOT TO GET INSURANCE YOU ARE SUBJECT TO A PENALTY, BUT
THE ONLY WAY THE GOVERNMENT CAN COLLECT THE PENALTY IS TO TAKE IT FROM YOUR INCOME TAX REFUND.
Therefore, if you do not have a tax refund, there is no way for the IRS to collect the penalty for not having health insurance . This is no joke.
For many working people it will make sense to actually work fewer hours so that they could collect a greater subsidy toward their healthcare. When did this become the American way?
I am happy for people who have had trouble getting health insurance (IL has always had a C.H.I.P insurance program for un-insurable people), and are looking forward to getting and paying for it. There is a link on my website, Fortune Financial Group, where you can go online with Blue Cross Blue Shield and apply. On October 1st, you can use this same link to apply for medical insurance from the Exchange.
Unfortunately, the big problems with healthcare will not be fixed when this all kicks in (if it ever does). Millions of people will still go uninsured ( they are better off paying the penalty) and the cost of care will sky-rocket (40-60% increase expected in Illinois) while the quality of care will plummet (ask your doctor).
Meanwhile, millions of people will grow accustomed to having the federal government (tax dollars) give them money every month (an amount that will grow massively over time on a national level) until the program explodes under the weight of its own cost.
In the meantime, I will keep you posted as this unfolds with updates and any strategies that may be worthwhile pursuing.
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