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Jbird 
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| Odramacare kicking in! (Posted on 3/20/13 at 8:12 am)
Idiots gonna get us all killed. This is what happens when a community organizer gets involved.
Starting next year, insurance companies will have to remit $8 billion to the federal treasury. The tax climbs to $11.3 billion in 2015 and 2016, to $13.9 billion in 2017, and to $14.3 billion thereafter.
Insurance companies will pay based on their share of industry revenues in a given year — the more revenue, the bigger the hit.
And although insurers are responsible for paying it, there’s no question that the tax will “be largely passed through to consumers in the form of higher premiums for private coverage,” as the non-partisan Congressional Budget Office put it.
Those are just averages. Individuals and businesses in some states will pay far more, according to Oliver Wyman’s research. Small businesses in West Virginia, for example, will have to deal with more than $9,000 in added costs for a family plan over the next decade. Those in Nebraska will get hit with almost $8,000 in new costs.
Seniors and state governments will pay the tax, too.
The cost of the private Medicare Advantage plans that about a quarter of seniors currently enjoy is set to rise nearly $3,600 over the next ten years, thanks to the tax. In Florida, for example, seniors will pay an additional $4,000 in premiums.
Costs for the Medicaid managed care plans that cover nearly three-quarters of the program’s beneficiaries will rise by more than $1,500 per enrollee over the next decade.
Obamacare’s premium tax will also distort the insurance market by tilting the playing field heavily against for-profit insurance companies like WellPoint, UnitedHealthcare, and Aetna.
Unlike just about every other tax they pay, for-profit insurers won’t be able to deduct the premium tax from their earnings. So a good chunk of their income will effectively get taxed twice — once to satisfy Obamacare’s premium tax, and then again when they pay the corporate tax. That means they’ll have to raise premiums even higher.
Non-profit insurers like Blue Shield of California don’t pay income taxes, so they won’t face this double whammy when paying the premium tax.
What’s more, the law exempts non-profits that do 80 percent or more of their business with the government from the premium tax altogether. That gives non-profits an even bigger leg up against their for-profit competitors.
And it’s not as if non-profit insurers are barely scraping by. Blue Shield of California, for instance, had reserves of $3.9 billion in the last quarter of 2012
LINK
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CajunAngele 
LSU Fan
Member since Oct 2012
4904 posts
 Online
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:18 am to Jbird)
quote:
Small businesses in West Virginia, for example, will have to deal with more than $9,000 in added costs for a family plan over the next decade. Those in Nebraska will get hit with almost $8,000 in new costs
I thought Obama said you can keep the same plan costs will go down and nothing will change?
NB49Koveradecadeisnobigdeal
This post was edited on 3/20 at 8:19 am
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Lsut81
LSU Fan
Member since Jun 2005
54807 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:21 am to Jbird)
I hope Obama and the Dems take credit for destroying the Heathcare market and quality of care that 90% of American HAD before they put their hands in it.
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Captain Ron 
Hawaii Fan
Location: Ted's
Member since Dec 2012
1662 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:22 am to CajunAngele)
quote:
I thought Obama said you can keep the same plan costs will go down and nothing will change?
He's a pathological lying POS.
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:24 am to Lsut81)
quote:
I hope Obama and the Dems take credit for destroying the Heathcare market and quality of care that 90% of American HAD before they put their hands in it.
Meh Bushes fault.
Read an article yesterday about Dr appointments "grouped" by like problems. So 6-8 patients see the Dr at the same time,all piled into one big room like a fricking seminar, all in the name of saving dough for the idiot in chief's worthless Odramacare fiasco. 
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LSU316
LSU Fan
Frog City Baby!!!
Member since Nov 2007
9299 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:24 am to Jbird)
Someone needs to be kicking his arse for this craptastic bill.
I'm very interested to see what this does to everyones paychecks. Although hell if you don't get a paycheck anyway I guess it won't affect you.
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Lsut81
LSU Fan
Member since Jun 2005
54807 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:26 am to Jbird)
quote:
Starting next year, insurance companies will have to remit $8 billion to the federal treasury. The tax climbs to $11.3 billion in 2015 and 2016, to $13.9 billion in 2017, and to $14.3 billion thereafter.
btw, if you think the Insurance companies will take this hit on their own, you are a complete moron. Much higher premiums are coming. 
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:30 am to Lsut81)
quote:
btw, if you think the Insurance companies will take this hit on their own, you are a complete moron. Much higher premiums are coming
No way the liar in chief and all his sheeple said that would never happen. 
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au21tigers 
Auburn Fan
Huntsville
Member since Nov 2009
3717 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:32 am to Jbird)
quote:
Non-profit insurers like Blue Shield of California don’t pay income taxes, so they won’t face this double whammy when paying the premium tax.
Intresting. We just switched to them.
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CajunAngele
LSU Fan
Member since Oct 2012
4904 posts
Online
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:32 am to Jbird)
Yeah I saw that article it is pathetic. I was going to post it. Group visits of strangers with one doc are going to reek havoc on HIPAA laws.
Whose to say I want 17 other people hearing my medical details?
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:35 am to CajunAngele)
quote:
Group visits of strangers with one doc are going to reek havoc on HIPAA laws.
Yeah I am supposed to trust that a group of stranger signing a form will never violate? fricking idiots that support this guy deserve communicable diseases when they visit their Dr in a group setting. Dumbasses.
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JEAUXBLEAUX
LSU Fan
Bayonne, NJ
Member since May 2006
38492 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:35 am to CajunAngele)
National health care for all! Take the profit out of it
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wickowick
LSU Fan
Head of Island
Member since Dec 2006
12761 posts
Online
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:41 am to JEAUXBLEAUX)
quote:
National health care for all! Take the profit out of it
Careful what you wish for...
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tigerskin
LSU Fan
Member since Nov 2004
7624 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:42 am to JEAUXBLEAUX)
We are headed that way as most people are going to be on the Medicaid type plan. Businesses are going to take the 700 dollar hit and not pay for the employee insurance. They can then give the employee a 2000 dollar bonus that will
pay for the much cheaper Medicaid type insurance and that will still be cheaper for the businesses. Docs are going to have to bend over and take those crappy Medicaid like rates.
This post was edited on 3/20 at 8:47 am
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CajunAngele
LSU Fan
Member since Oct 2012
4904 posts
Online
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:43 am to Jbird)
No one is accountable to HIPAA laws but medical workers. So when Joe P Blow signs he wont tell anybody about your medical issues it means nothing. That is if they have even thought of HIPAA violations. Maybe that is what was in the added 700 pages?
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:43 am to JEAUXBLEAUX)
From the same a-holes who can't do the job they have now?? U voted for this idiot didn't you? 
This post was edited on 3/20 at 8:45 am
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Grizzly 
Southern Cal Fan
Member since Oct 2012
1776 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:44 am to Lsut81)
quote:
I hope Obama and the Dems take credit for destroying the Heathcare market and quality of care that 90% of American HAD before they put their hands in it.
Bush's fault
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Jbird
Iowa Fan
Odramaville with EthanL
Member since Oct 2012
4868 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:46 am to Grizzly)
quote:
Bush's fault
Corksackers have already said in OpEd pieces that if it is a failure or has problems it is because the Rs didn't participate in formulating this pile of shite.
That is some Rexcatur or Hackfan type logic.
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ShortyRob
LSU Fan
Savannah, GA
Member since Oct 2008
23958 posts
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:47 am to JEAUXBLEAUX)
quote:
National health care for all! Take the profit out of it
Easily the most amusing thing about you is that you sincerely believe that taking the profit out of a thing and having the govt run it reduces costs.
I mean. It's like you were born last week. It's cute.
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CptRusty 
New Orleans Saints Fan
Dome Patrol #57
Member since Aug 2011
2491 posts
Online
| re: Odramacare kicking in! (Posted on 3/20/13 at 8:53 am to ShortyRob)
But I thought it was FREEEEEEEEEEEEEEEEEEEEEE
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