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How many poor people in America realize that the Obamacare fine is for them not the rich?

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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby bayerd4 » Mon Jul 29, 2013 1:59 pm

Obamacare's provisions for those who choose to ignore the individual mandate and not get insurance coverage are fairly simple. Next year, families who don't have eligible insurance will pay $95 per adult and $47.50 per child, with the total amount for each family capped at $285 or 1% of income above the filing threshold, whichever is greater. In 2015, those figures go up to $325 per adult and $162.50 per child, with caps of $975 or 2% of income above the filing threshold. The following year, Obamacare imposes penalties of $695 per adult and $345.50 per child up to $2,085 or 2.5% of income above the filing threshold. For any month without coverage, you'll pay a twelfth of the penalty amount, although you can have up to a three-month gap in coverage without incurring a penalty.

Where things get tricky, however, is in determining who's exempt from having to pay the penalty. Low-income families whose total income falls below the threshold for having to file tax returns -- which hasn't yet been determined for 2014 but would be $10,000 for individuals and $20,000 for families if the provisions applied this year -- don't have to pay a penalty. Those who make more than those amounts have to calculate how much they'd have to pay out-of-pocket to obtain health insurance under the various subsidies available under Obamacare. If their net cost, after taking away any contributions their employer makes on their behalf, is more than 8% of their income, then Obamacare wouldn't impose a penalty.

http://www.fool.com/how-to-invest/personal-finance/taxes/2013/05/12/how-much-will-obamacares-penalties-cost-you.aspx

This guy Obama makes Nixon look like an altar boy. If you are poor and you support this mother fracker you are in for a huge surprise when that Obamacare penalty hits you. Unless you are teh kind of person who likes to pay tickets you aren't going to like this fine. Employers are already cutting back workers hours so the fine will go to you not to them.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby dridan » Mon Jul 29, 2013 2:08 pm

Most of them do.

Every H & R Block office in the country began warning them of the fines that will be imposed on their 2013 income. I'm sure most tax preparers are, since it was a required section for CPE for last year.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby keifer » Mon Jul 29, 2013 2:11 pm

You left out a few things. Those whose annual income is below federal poverty level qualfies for Medicaid if their state has the expansion.

The tax credit subsidy was not factored into your figures. That amount is applied directly to insurance premiums to reduce the cost.

Stop trying to scare people. They can read the OBAMACARE website and get clear on the policy.

If you cannot afford insurance and dont get Medicaid you claim economic hardship and DO NOT pay any tax penalty.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby ephrayim » Mon Jul 29, 2013 2:13 pm

What is your definition of poor? If you are make enough to qualify for Medicaid, you are covered by Medicaid; you just have to apply. If your state is not expanding Medicaid and you qualify Medicaid and cannot get it, you are exempt from the mandate. If the average health care insurance premiums in your area exceeds a certain percentage of your income, you are exempt from the mandate. Unless you count a single person making more than $50,000 as poor person, poor people will not be affected by the mandate.

Use the link below to determine if you qualify for Medicaid and if not how much tax credits you will receive.

http://healthreform.kff.org/SubsidyCalculator.aspx#incomeAgeTables

The poor have better options under Obamacare than what was before.

EDIT

Regardless of who pays or not the fine the IRS will not jail anyone over this.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby marline31 » Mon Jul 29, 2013 2:24 pm

I fall well below the $20,000 limit for families. Unfortunately. What I'd like to know is if me and my husband will qualify for free health care next year, or will it only be the kids as usual.

I'm not saying that this Obamacare is good for the US. But I'll take what I can get. It's going to happen anyway, and I'm at least as good as the Mexicans it will cover.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby donahue » Mon Jul 29, 2013 2:35 pm

How many Republicans realize that it's the poor who are going to be helped most by Obamacare? If you can't afford it, you'll get help with affording it.

Only in America would so many overweight, diabetic people with heart disease be upset that they're gonna have healthcare.

##
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby philipos71 » Mon Jul 29, 2013 2:39 pm

Last i heard the medicare expansion is not happening in half the states at least. Citizens in states with no state exchange will not be eligible for subsidies as the law was written. Things are not looking good for anyone really.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby osckar95 » Mon Jul 29, 2013 2:42 pm

It is not for the really poor poor. they will have their Medicaid, nothing will change except their co-pay will probably go up and it will cover less.

but the WORKING Poor, They will pay the fine.
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby chaska96 » Mon Jul 29, 2013 2:50 pm

I'm too poor to even afford the fine.
What's the IRS going to do? Repossess my car? I had to sell it last year when I lost my full time job. What else do I have for them to take?
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How many poor people in America realize that the Obamacare fine is for them not the rich?

Postby tanner » Mon Jul 29, 2013 2:52 pm

I'm too poor to even afford the fine.
What's the IRS going to do? Repossess my car? I had to sell it last year when I lost my full time job. What else do I have for them to take?
you left out the part about the medicare expansion that should cover most of the truly poor... they have insurance when they had none before...
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