IRS issues final rules on Obamacare mandate | TigerDroppings.com

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weagle99
Member since Nov 2011
12062 posts

IRS issues final rules on Obamacare mandate



Thank you Obama voters!

ETA: And thank you John Roberts.

quote:

The Internal Revenue Service issued final rules on Tuesday for the individual mandate of President Barack Obama's healthcare overhaul, one of the most contentious elements of the U.S. law set to go into effect next year.
A centerpiece of Affordable Care Act, also known as Obamacare, is a requirement that all individuals carry some minimum health insurance or pay a tax. The new system aims to provide insurance through state marketplaces and subsidies for tens of millions of Americans who lack it.

If individuals choose not to carry insurance, they are subject to a penalty, starting at $95 per person per year or 1 percent of income in 2014, whichever is greater, and eventually reaching $695 per person or 2.5 percent of income by 2016.


LINK



This post was edited on 8/27 at 5:16 pm



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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
40993 posts
 Online 

re: IRS issues final rules on Obamacare mandate


Still cheaper to go without insurance till I need it when I can jump on.



(not doing this, but it shows the absurdity of it)






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Tim
LSU Fan
Texas
Member since Jan 2005
6189 posts

re: IRS issues final rules on Obamacare mandate


Honestly, if I'm paying about $12k a year now for insurance, will I still get coverage if I pay the penalty and drop my insurance? It's a hell of a lot cheaper.





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CajunAngele
LSU Fan
Member since Oct 2012
11168 posts

re: IRS issues final rules on Obamacare mandate



Did they remember to take out the people going to jail *and* fined/taxed, part?



This post was edited on 8/27 at 5:19 pm


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Tigerlaff
LSU Fan
Member since Jan 2010
10034 posts

re: IRS issues final rules on Obamacare mandate


Every food server in the entire Millennial generation is about to blow up twitter and tumblr with "WTF?!?!?! I didnt vote Obama to take moar my $$$$?? Why the 1% not responsible????"





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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
22901 posts

re: IRS issues final rules on Obamacare mandate


quote:

Honestly, if I'm paying about $12k a year now for insurance, will I still get coverage if I pay the penalty and drop my insurance?
NO! The penalty (fu Roberts) is only that.. A penalty... Of course you can still get treatment by stiffing the doc and hospital.

Absurdly.... That $95 penalty is supposed to dissuade uninsured people from getting tens of thousands in free care... And encourage them to spend tens of thousands on insurance.

You have to unable to do simple math to be an Obama supporter Yet somehow the leeches get smart when the economics work in their favor.



This post was edited on 8/27 at 5:34 pm


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wickowick
LSU Fan
Head of Island
Member since Dec 2006
23704 posts

re: IRS issues final rules on Obamacare mandate


What if you have coverage for one month a year? Prorate it, something else?


This post was edited on 8/27 at 5:34 pm


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LaBoyNTn
LSU Fan
Louisiana
Member since Nov 2005
344 posts
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re: IRS issues final rules on Obamacare mandate


does anyone know what affect this new tax will have on a veteran who does not have insurance, but depends on the VA for his health care needs. I guess my question is, will a veteran have to pay the tax, although he has a VA appointed provider?





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Bestbank Tiger
Tulane Fan
Landmass
Member since Jan 2005
19995 posts

re: IRS issues final rules on Obamacare mandate


Funny how they arbitrarily decided to not enforce the employer mandate but the individual mandate is full steam ahead.

There should be an equal protection lawsuit over all the exemptions and cronyism.






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La Place Mike
LSU Fan
West Florida Republic
Member since Jan 2004
16388 posts
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re: IRS issues final rules on Obamacare mandate


quote:

Still cheaper to go without insurance till I need it when I can jump on.
You will not be able to do this.






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theenemy
Arkansas Fan
Member since Oct 2006
5079 posts

re: IRS issues final rules on Obamacare mandate


quote:

You will not be able to do this.


Why not?






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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
40993 posts
 Online 

re: IRS issues final rules on Obamacare mandate


If one has catastrophic coverage but jumps to a regular plan in the aftermath of a cancer diagnosis...why won't that work?





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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
10620 posts

re: IRS issues final rules on Obamacare mandate


Doesn't the law say that that fine is not collectible?





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cssamerican
New Orleans Saints Fan
Member since Mar 2011
2275 posts

re: IRS issues final rules on Obamacare mandate


quote:

You will not be able to do this.

I thought I could get insurance with a preexisting condition.






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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
5058 posts

re: IRS issues final rules on Obamacare mandate


quote:

If one has catastrophic coverage but jumps to a regular plan in the aftermath of a cancer diagnosis...why won't that work?
I don't know why it wouldn't. Ins can't deny coverage for pre-existing conditions, and there's no lifetime limit no matter what the coverage. If it was an accident rather than an illness though, the two or three days it would take to get the paperwork done might foul things up.

Too, do you (or your hypo person) qualify for catastrophic coverage?
quote:

a Catastrophic Health Plan, “a health plan not providing a bronze, silver, gold, or platinum level of coverage shall be treated as meeting the requirements of subsection (d), if”
1. Eligibility is restricted to either (1) young adults under age 30 prior to the start of the plan year or (2) individuals who have been deemed exempt from the individual mandate;1
2. The plan provides the essential health benefits defined under §1302(a) after the insured has met a deductible which must be equal to the maximum annual out-of-pocket limit for High-Deductible Health Plans (HDHP) as defined by the IRS for the given plan year;
2
3. The deductible does not apply to at least three primary care visits.



The above ACA quote was in a MA healthcare document. Also, if the IRS has finalized, they may have changed catastrophic coverage requirements (if Sebelius so deemed).







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756
LSU Fan
Member since Sep 2004
9747 posts

re: IRS issues final rules on Obamacare mandate


folks in LA with no insurance will pay the penalty - course then there are all of those who do not file income tax because they have no income that is verifiable

They will still get gov help

For taxpayers we just get taxed some more






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TigerTattle
LSU Fan
Out of Town
Member since Sep 2007
5058 posts

re: IRS issues final rules on Obamacare mandate


quote:

For taxpayers we just get taxed some more
I've heard so many people say things like, "Well, at least everybody will have to pay for their own healthcare now. I'm tired of paying for people who can afford it but buy big screens and cars instead."

What they don't realize is that they'll still be paying for other people's health care, only at a higher rate. Those receiving who get the big EITCs every year will continue to get them.

IMO, instead of passing Obamacare and screwing up the insurance of 85% of the population, the EITC checks should have been replaced with a note from the IRS stating "since you won't pay for it yourself, your EITC check has been applied to health insurance for you and your family for the year." Would have solved most of the "no health insurance" problem.






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Interception
Providence Fan
Member since Nov 2008
11089 posts

re: IRS issues final rules on Obamacare mandate


They can fine me. I really don't care.





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TrueTiger
LSU Fan
Chicken's most valuable
Member since Sep 2004
10620 posts

re: IRS issues final rules on Obamacare mandate


quote:

folks in LA with no insurance will pay the penalty


I recall reports that the ACA specifically forbids the IRS from being able to collect the penalty from people who live in states that did NOT set up exchanges.

I admit I may not remember this exactly right but there were reports about something like this.






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OldTigahFot
LSU Fan
Drinkin' with the rocket scientists
Member since Jan 2012
5700 posts
 Online 

re: IRS issues final rules on Obamacare mandate


So how do they go about determining who has "sufficient" coverage and who doesn't ? Are people going to have to mail in a copy of their declaration page or id card ? Is there going to be a question on your tax return form ? Just curious.









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