Reply #9: Is he wrong?

[Luminous Animal]

(And my husband and I, self-employed, pay 12,000 a year for insurance not including our copays and deductables.)

Here is Marcy Wheelers two scenarios of what The Health Insurance Protection Act would cost:
http://emptywheel.firedoglake.com/2009/12/16/the-mybarackobamatax/

I’m going to do two scenarios — one for someone just above 300% who will receive subsidies and have a premium limit, and one for someone just over 400%. While that artificially calculates the number for those who would be in the worst case scenario, as far as benefits (meaning they make just enough to miss out on some subsidies), it does give a basic idea of what this will do to middle class families (though it is inaccurate in that those over 400% of poverty have no cap on premiums, so those numbers could be higher). Since subsidies are figured on “silver” plans which allow actuarial values of 70%, this is what might happen to a family incurring around $39,666 in medical costs over the year, in which case they would pay the full out-of-pocket costs for their income level.

301% of Poverty Level: $66,370

Federal Taxes (estimate from this page, includes FICA): $8,628 (13% of income)

State Taxes (using MI rates on $30,000 of income): $1,305 (2% of income)

Food (using “low-cost USDA plan” for family of four): $9,065 (14% of income)

Home (assume a straight 30% of income): $19,275 (30% of income)

Health Care: $14,477 ($7,973 out-of-pocket + 9.8% of income; totals 22% of income)

Total: $52,750 (79% of income)

Remainder for all other expenses (including education, clothing, existing debt, transportation, etc.): $13,620 (or 21% of income)

401% of Poverty Level: $88,420

Federal Taxes (really rought estimate based on this page, includes FICA): $13,263 (15% of income)

State Taxes (using MI rates on $45,000 of income): $1,957 (2% of income)

Food (using “low-cost USDA plan” for family of four): $9,065 (10% of income)

Home (assume a straight 30% of income): $26,526 (30% of income)

Health care: $20,565 ($11,900 out-of-pocket + 9.8% of income–though note there is no limit on premiums for this income level, so this could be higher; totals 23% of income)

Total: $71,376 (80% of income)

Remainder for all other expenses (including education, clothing, existing debt, transportation, etc.): $17,044 (or 19% of income)