“IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family”
So you see, when Obama said that the price of your policies will go down and that those who like the coverage they have will be able to keep it, what he really meant — and one can forgive him for the inexactitude of his language, leading to his having been taken out of context, probably by Bush — was “fuck you, suckers.”
In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS’s assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare–after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
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.
So, in essence, you can pay over $20K per year, or take the penalty — about ten times less than the premium — and still get health care. Which people will do, as they act in their own self interest.
Of course, in the end, this will bankrupt the medical system and drive private insurers out of the market, and is the intentional poison bill built into this monstrosity — along with the bankrupting of Medicare — that will eventually have us all begging for a single payer system. At which point the government will step in and “solve” the “health care crisis” for us yet again. God bless ’em.
But don’t call this socialism, or question the Democrats’ motives. Cloward-Piven, whereby the system is intentionally overloaded until it becomes unsustainable and collapses? Why, mentioning that — or Obama’s connection to Piven and the socialist confabs and Frank Marshall Davis, and the Israel-hating Jeremiah Wright — that’s all so very unhelpful. And besides, it doesn’t poll well with the centrists and moderates. Without whom we wouldn’t have won the past two Presidential elections.