Insurance and points of view

[ProSense]

4. You're trying to justify a misleading post

In this thread. http://www.democraticunderground.com/10023824490 The poster pointed out how because of the requirements of the ACA known improperly as Obamacare, and the requirements that his plan must have certain coverage that he had previously opted out of, his costs are rising significantly. Those by the way mean dollars, real money. Many of us live if not paycheck to paycheck, we're not far from it. Perhaps we have a couple weeks, or perhaps even six week cushion against the unexpected. However that unexpected can go through that money in a minute. That cushion if it exists may not be that deep, and some people with those cafeteria plans may not qualify for the subsidies, and may well find that their costs are going up even with those subsidies.

Everyone who doesn't have employer-based health care can shop the exchange. The poster is claiming that an insurer is forcing him to purchase a plan offering more benefits. The plan has nothing to do with the exchange. The poster can shop the exchange and will likely qualify for subsidies, which the plan he presented does not offer. Those are only available via the exchange.

Until the poster shows the plans available via the exchange, including subsidies, it's impossible to know how the ACA affects him.

Shared cost is not a "flaw." It's a tenet of every universal health care system.

In this case, the cost is being shared by everyone via a package of essential benefits. Some young people can remain on their parents' plan. Others can purchase catastrophic coverage at a lower cost.

Shared sacrifice also means those with higher incomes pay more.

Reposting: http://www.democraticunderground.com/10023795712

The new tax on the high-income earners and the wealthy.

Reported when the law passed in 2010:

A big chunk of the money to pay for the bill comes from lifting payroll taxes on households making more than $250,000. On average, the annual tax bill for households making more than $1 million a year will rise by $46,000 in 2013, according to the Tax Policy Center, a Washington research group. Another major piece of financing would cut Medicare subsidies for private insurers, ultimately affecting their executives and shareholders.

http://www.nytimes.com/2010/03/24/business/24leonhardt.html

Krugman in 2011:

<...>

What would real action on health look like? Well, it might include things like giving an independent commission the power to ensure that Medicare only pays for procedures with real medical value; rewarding health care providers for delivering quality care rather than simply paying a fixed sum for every procedure; limiting the tax deductibility of private insurance plans; and so on.

And what do these things have in common? They’re all in last year’s health reform bill.

That’s why I say that Mr. Obama gets too little credit. He has done more to rein in long-run deficits than any previous president. And if his opponents were serious about those deficits, they’d be backing his actions and calling for more; instead, they’ve been screaming about death panels.

Now, even if we manage to rein in health costs, we’ll still have a long-run deficit problem — a fundamental gap between the government’s spending and the amount it collects in taxes. So what should be done?

- more -

http://www.nytimes.com/2011/02/18/opinion/18krugman.html

It's the law, 2013:

Net Investment Income Tax

A new Net Investment Income Tax goes into effect starting in 2013. The 3.8 percent Net Investment Income Tax applies to individuals, estates and trusts that have certain investment income above certain threshold amounts. The IRS and the Treasury Department have issued proposed regulations on the Net Investment Income Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Net Investment Income Tax, see our questions and answers.

Additional Medicare Tax

A new Additional Medicare Tax goes into effect starting in 2013. The 0.9 percent Additional Medicare Tax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status. The threshold amounts are $250,000 for married taxpayers who file jointly, $125,000 for married taxpayers who file separately, and $200,000 for all other taxpayers. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year. The IRS and the Department of the Treasury have issued proposed regulations on the Additional Medicare Tax. Comments may be submitted electronically, by mail or hand delivered to the IRS. For additional information on the Additional Medicare Tax, see our questions and answers.

http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions