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Title: Your “Children Will Be Fined” If You Fail To Sign Up For Obamacare: People Are Going To Be In for A Shock
Source: [None]
URL Source: http://www.shtfplan.com/headline-ne ... -to-be-in-for-a-shock_11142014
Published: Nov 22, 2014
Author: -
Post Date: 2014-11-22 09:44:16 by Katniss
Keywords: None
Views: 118
Comments: 9

Your “Children Will Be Fined” If You Fail To Sign Up For Obamacare: People Are Going To Be In for A Shock

Free and affordable health care just gets better and better.

In 2015 the government will be activating some new “incentives” embedded in the Affordable Care Act in an effort to get more people to sign up.

But, as is often the case when the government says one thing, they mean exactly the opposite. In this case, when they say incentive what they really mean is that you are going to be penalized if you fail to acquire government mandated health insurance.

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Poster Comment:

>>These days, even democrats who supported the legislation before anyone had a chance to actually review it are up in arms. It seems many have finally realized that free health care isn’t actually, well, free.

Cindy Vinson and Tom Waschura are big believers in the Affordable Care Act. They vote independent and are proud to say they helped elect and re-elect President Barack Obama.

Yet, like many other Bay Area residents who pay for their own medical insurance, they were floored last week when they opened their bills: Their policies were being replaced with pricier plans that conform to all the requirements of the new health care law.

“Of course, I want people to have health care,” Vinson said. “I just didn’t realize I would be the one who was going to pay for it personally.”

Where to begin. Everyone wants something, doesn't want to have to pay for it, but apparently never thinks through where the money is going to come from to pay for it.

Meanwhile, you still have Repulicans bitching about getting free healthcare on their nickel when there's nothing free about it.

Otherwise, the true reasons for this go all but completely unaddressed if not unnoticed altogether.

You literally can not make this stuff up. And people talk about how intelligent Americans are. LOL

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#1. To: All (#0) (Edited)

I may be among the first jailed or to be killed. I'm not paying next year and I'm instructing my accountant not to pay that part of the tax tab.

I'm considering that my life is over at that point.

If some "good, moral, patriotic American hero" wants to come shoot me, great. Feel free.

I would much prefer to perish a free man than to take the Mark of the Beast, and make no mistake, that's exactly what this is as administered by the Synagogue of Satan.

Katniss  posted on  2014-11-22   9:45:22 ET  Reply   Trace   Private Reply  


#2. To: Katniss (#1)

The only way to exercise your last freedoms, is to stand against this nonsense. Pay a fine for living? Oh fuck no. I don't need a license to breathe which is what this is. Forced slavery to an insurance company. You're not a free person if you live in a country where you are forced to pay for health insurance.

"Call Me Ishmael" -Ishmael, A character from the book "Moby Dick" 1851. "Call Me Fishmeal" -Osama Bin Laden, A character created by the CIA, and the world's Hide And Seek Champion 2001-2011. -Tommythemadartist

TommyTheMadArtist  posted on  2014-11-22   10:20:36 ET  Reply   Trace   Private Reply  


#3. To: Katniss (#1)

Structure your taxes so that you break even or owe something to the IRS. The penalty (so far) only applies if you get a refund.

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“With the exception of Whites, the rule among the peoples of the world, whether residing in their homelands or settled in Western democracies, is ethnocentrism and moral particularism: they stick together and good means what is good for their ethnic group."
-Alex Kurtagic

X-15  posted on  2014-11-22   11:35:21 ET  Reply   Trace   Private Reply  


#4. To: X-15 (#3)

Correct!

Owe them, not vice versa.

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2014-11-22   19:05:48 ET  Reply   Trace   Private Reply  


#5. To: X-15 (#3)

Structure your taxes so that you break even or owe something to the IRS. The penalty (so far) only applies if you get a refund. .

You absolutely sure about that?

Link(s)? Credible ones that is. LOL

Katniss  posted on  2014-11-23   23:18:14 ET  Reply   Trace   Private Reply  


#6. To: Katniss (#5)

The penalty (so far) only applies if you get a refund

I read the same thing several places and believe it is true, don't have a link offhand though.

"Even to the death fight for truth, and the LORD your God will battle for you". Sirach 4:28

Artisan  posted on  2014-11-24   18:39:52 ET  Reply   Trace   Private Reply  


#7. To: Katniss, x-15 (#5)

Structure your taxes so that you break even or owe something to the IRS. The penalty (so far) only applies if you get a refund. .

You absolutely sure about that?

Link(s)? Credible ones that is. LOL

Owe the IRS money? Good news http://www.marketwatch.com/story/no-obamacare-penalty- unless-you-get-a-tax-refund-2014-01-29

Published: Feb 2, 2014 7:19 a.m. ET

The Obamacare penalty only applies to those who get a tax refund

By

Bill Bischoff

Starting this year, the Obamacare law imposes a penalty on individuals who fail to have so-called minimum essential health insurance coverage for any month. This coverage requirement is commonly called the individual mandate, and the penalty is the cost for failure to comply. As you will see, however, the penalty lacks teeth, so many folks will probably choose to blow off the individual mandate. In any case, here’s what you need to know about the penalty.

Penalty basics

You will owe the penalty if you don't have minimum essential coverage for yourself and your dependents. Minimum essential coverage includes certain government sponsored programs (e.g., Medicare, Medicaid, and the Children’s Health Insurance Program), eligible employer-sponsored plans, plans obtained in the individual market, certain grandfathered group plans, and other coverage specified by the Feds. However, if you fit into one of the following categories, you are exempt from the penalty. •Your 2014 household income is below the federal income tax return filing threshold (generally $10,150 for singles, $20,300 for married joint-filing couples, and $13,050 for heads of households). •Your existing health insurance plan was canceled. •You are considered to lack access to affordable minimum essential coverage. For example, coverage under an employer-sponsored plan is considered unaffordable if your required monthly contribution exceeds 8% of household income. •You suffered a hardship in obtaining coverage. To qualify for this exception, you should obtain a hardship exception certificate issued by an Insurance Exchange. •You have only a short coverage gap. •You qualify for an exception on religious grounds. •You aren't a U.S. citizen or national or you are in the U.S. illegally. •You are incarcerated. •You are a member of an Indian tribe.

Penalty specifics

If you owe the penalty, the tentative amount equals the greater of: (1) the applicable percentage of your household income above the federal income tax return filing threshold or (2) the applicable dollar amount times the number of uninsured individuals in your household, limited to 300% of the applicable dollar amount.

The final penalty amount cannot exceed the national average cost of “bronze coverage” (a new term) for your household. In other words, a higher-income household could owe more than 300% of the applicable dollar amount but not more than the cost of bronze coverage. Confusing? You bet. But please hang in there, because things will soon become clearer.

Percentage of income prong: The applicable percentage of income is 1% for 2014, 2% for 2015, and 2.5% for 2016 and beyond.

Reuters

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Dollar amount prong: The applicable dollar amount for each uninsured household member is $95 for 2104, $325 for 2015, $695 for 2016, and $695 adjusted for inflation for 2017 and beyond. For an under-age-18 household member, the applicable dollar amounts are halved. As stated earlier, this prong of the penalty cannot exceed 300% of the applicable dollar amount (determined without regard to the 50% rule for individuals under age 18) for the year in question.

Final penalty amount: As stated earlier, the tentative penalty amount is the greater of the percentage of income prong or the dollar amount prong. But the final penalty is limited to the cost of bronze coverage. If you have minimum essential coverage for only part of the year, your penalty is calculated on a monthly basis using prorated annual figures.

Here are some examples

As you can see, the penalty rules are pretty complicated. The following examples illustrate how to calculate the penalty in the two simplest situations.

Example 1: One-person household with no coverage for entire year

Say you are unmarried and live alone. During all of 2014, you have no minimum essential coverage. Your income for the year is $120,000. Your tax return filing threshold for the year is $10,150. Assume the national average premium for bronze coverage for one person is $5,000.

In your case, the percentage of income penalty prong is $1,099 [($120,000-$10,150) x 1%].

The dollar amount penalty prong is $95.

Your tentative penalty amount is $1,099 (greater of $1,099 or $95).

As stated, the annual national average cost of bronze coverage is assumed to be $5,000.

Therefore, your final penalty amount for failing to comply with the individual mandate is $1,099 (lesser of $1,099 or $5,000).

Note: If your circumstances are the same in 2016, the final penalty amount would be about $2,700.

Example 2: Multi-person household with no coverage for entire year

Say you are a married joint filer with three under-age-19 kids. During all of 2016, no member of the family has minimum essential coverage. Your household income for the year is $120,000. Your tax return filing threshold for the year is $20,300. Assume the annual national average premium for bronze coverage for a family with two adults and three children is $20,000.

In your case, the percentage of income penalty prong is $997 [($120,000-$20,300) x (1%)].

The dollar amount penalty prong is $285, which is the lesser of: (1) [($95 x 2 for the adults) + ($95/2 x 3 for the kids) = $333] or (2) ($95 x 300% = $285).

The tentative penalty amount is $997 (greater of $997 or $285).

The final penalty amount is $997 (lesser of $997 or the $20,000 cost of bronze coverage).

Note: If your circumstances are the same in 2016, the penalty amount would be about $2,400.

Dirty little secret: Penalty enforcement is lacking

You are supposed to pay any penalty you owe with your Form 1040 for the year—starting with your 2014 return which you will file sometime next year.

However, the only enforcement mechanism is that the government can subtract any unpaid penalty from your federal income tax refunds. So if you’re not owed a refund for 2014 or a later year, there will never be any consequences for not paying the penalty. (You aren't subject to criminal prosecution, and the IRS cannot put a lien or levy on your income or assets.)

Bottom line: it is hard to understand how the penalty will scare many scofflaws into buying health insurance. Obviously, this is a big flaw in the Obamacare program.

The last word

After all the well-publicized problems in the Obamacare rollout, some have speculated that the individual mandate penalty might be postponed for at least this year. So far that hasn't happened, but I will keep you posted. Stay tuned.

Thanks to Robin Christian, Senior Manager of Editorial Operations with Thomson- Reuters for her help with this story.

"Even to the death fight for truth, and the LORD your God will battle for you". Sirach 4:28

Artisan  posted on  2014-11-24   18:44:03 ET  Reply   Trace   Private Reply  


#8. To: Artisan, Katniss (#7)

Thank you. I have a link somewhere in my favorites list, but it remains elusive!!

 photo 001g.gif
“With the exception of Whites, the rule among the peoples of the world, whether residing in their homelands or settled in Western democracies, is ethnocentrism and moral particularism: they stick together and good means what is good for their ethnic group."
-Alex Kurtagic

X-15  posted on  2014-11-24   19:25:42 ET  Reply   Trace   Private Reply  


#9. To: Artisan (#7)

Thanks a bunch!

Katniss  posted on  2014-11-24   20:06:14 ET  Reply   Trace   Private Reply  


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