Get ready for 2014, when Obamacare will *&^% small businesses even harder

[Redsoxticket]

Originally Posted by JohnnyD

It's actually quite simple math. If you make more than $70k/yr as an individual (or $120k as a family), might as well pay for insurance, as Obama's fine would be more than the yearly cost for insurance. Considering that the "penalty" increases over time from the initial 1% fine, that $70k will very quickly become under $50k. Yet, assistance to cover costs doesn't start unless you make under $45k.

This isn't a question of "what to do". It's an issue of costs increasing significantly (as widely predicted, mind you) while Obama promised "a decrease of $2500/yr in family medical costs".

It's almost like Obama and the Democrats wake up each morning and go "hmmm... how can we further force more government impositions onto the individual while also further #^&#^&#^&#^&ing over the economy in the process."

The penalty for not having insurance in Massachusetts is much lower then you stated for that income bracket. The attached chart shows the penalty for all incomes and the max penalty for incomes above 300 percent poverty is about $105 per month. If you can find insurance less then that you have a good plan. This is assuming that the Obama plan will be the same as MA which in my opinion it will not be very far off.
My next post will show the penalty amounts, can't upload via the phone
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[JohnnyD]

Originally Posted by Redsoxticket

The penalty for not having insurance in Massachusetts is much lower then you stated for that income bracket.

You're right but we aren't talking about MA. My post is based on Obamacare's 2014 penalty being 1% in 2014, 2% for 2015 and 2.5% in 2016.

One item I did leave out is that the penalty cannot be higher than the average cost of the Bronze Plan. Something I haven't looked at is what types of deductibles and coverage comes with the Bronze Plan.

Now, if you consider that the penalty *doubles* in 2015, it looks like Obamacare takes into consideration Obama's promise of "cheaper health care" was laughable - as costs are projected to continue to soar.

My next post will show the penalty amounts, can't upload via the phone.

Look forward to it. It'll save me from having to do a bunch of annoying math if you have a "cheat-sheet".