(CNSNews.com) – In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS’s assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Read More at CNS News . By Matt Cover.
Please share this post with your friends and comment below. If you haven’t already, take a moment to sign up for our free newsletter above and friend us on Twitter and Facebook to get real time updates.
Follow @WestJournalism
Loading ...
I may not be understanding this example of $20K per year equals out to be $1,666 per month.Who can afford that? like I said I may not get IT.
Hmmm this is Affordable Care Act? Gosh, and those families with children who work to try to make ends meet are hit the hardest or so it seems. How is that hope and change working out for you people that voted this imbecile into office again? I am sure most will not have to pay, since they are the welfare bunch that love all the entitlements. And once again I read this morning about my Medicare Entitlement. I am paying each and every month for the “entitlement” I worked for 22 yrs at the same job, paid in and now pay more? I think it is time to impeach this liar. It is not a sign of how good you are if you are sucking the government teat for all it is worth, never planning to get a job and sit back let others pay for you. For those on Medicaid that truly need the help, you lazy lackeys are giving them a bad name. They have medical problems or just flat got laid off from work and no jobs to be found. The are the ones I empathize with, they tried, unlike most of the ones who have made welfare their job, how to work the system their goal. Time to require any able bodied welfare recipient to be looking for a job, any job even if they have to actually WORK. Manual Labor included. If they are working and need help, that is whole different story, but to lay on their lazy butts and pop out kids to get more money has to stop. Obama wants to be dictator and is getting there, one welfare jerk at a time.
@vietnamvet – most people will take the penalty. They just can’t afford to buy it. The penalty is a fraction of what the insurance will be and it is paid through the IRS, I think.
@mum46 – your right. I totally agree and I wish that we can do something about it. But we are in the minority here and our representatives are not representing us. Only themselves. You know that Obama, the federal government employees (Senate, House of Reps) are exempted from Obamacare. We are the ones that suffer. I have a job that allows me to buy healthcare but the quality of heathcare has declined since Obamacare ratified. Obamacare not in full effect until 2014 but my premium payments have doubled as well as a deductible that has been quadrupled. I know that in a few years that there is no way that I will be able to afford it much last carry a non-dependent child on my insurance which Obamacare allows you to do up till they are 26 years of age.
this premium thing is a farce, and yes already some of his little Obamacare things are already being done. Esp, it seems with elderly. I know already of 2 people who were refused needed services, one they had been getting, and are now being made comfortable with pain meds and are being allowed to die. that is a death panel if I ever saw one. I also know on Vet, who was refused a med by a Pharmacy Panel, even tho it was working for his asthma. But of course he is 71, so time to be put out to pasture I guess to choke to death. After much haggling and threatening, then finding out his dr had not even tried to get the Rx for him, it was finally prescribed and sent to him. the dr just sent it to Pharm. Board. without trying to get it filled, then when letter of complaint filed, the battle started in full and the patient won. threats of lawsuits and malpractice may have entered in, but the Pharmacist and civilian dr who originally wrote script backed the Vet.
Watch out what you wish for, you might soon be sorry if you voted and wished for this Bozo that is destroying our American way of life.
Liar, Liar the Commie is on Fire.
Liar, Liar the Muslim in chief is on Fire.
Liar, Liar, the Forger in Chief is on Fire.
Liar, Liar the Homo in Chief is on fire.
Liar Liar the America Destroyer is on Fire.
Liar Liar, the Kenyan in Chief is on fire.
CNSNews.com is mistaken with this story.
The section this articles refers to is speaking of how IRS TAX PENALTIES will be figured for households.
If you go to the IRS document (http://www.irs.gov/PUP/newsroom/REG-148500-12%20FR.pdf), you can see that examples are given that show what will happen under certain circumstances if a household does not have insurance (what their yearly IRS tax penalty would be).
The particular circumstance that is mentioned in the CNSNews.com article is speaking of a family of five that is NOT covered by a health care plan. The IRS will take a NATIONAL “average” of plans (called a bronze plan) in this country and come up with an AVERAGE cost of $20,000, for a family of five that IS covered. It is not saying that Obama Care has such a plan. It is saying that $20,000 is the cost of an AVERAGE plan in this country for a family of five (with or without an employer contribution to the plan). The IRS then does some calculating to find the PENALTY that this household (based on its size and family income) will have to pay for NOT having health care coverage. The end result is $200 a month, which is $2,400 a year or the $20,000, whichever is the lesser. Of course, the uncovered parents would choose the $2,400 penalty.
This is awful, no doubt, but it is not $20,000 awful. In this case it would be $2,400 awful. –We need to know why it is awful. It is awful because people should not have to pay a penalty for not having health care coverage.
Debra J.M. Smith
Informing Christians Writer
I should say: CNSNews.com is mistaken with this story’s title and implication that some how Obama Care is setting the $20,000 cost.
yA’LL STILL DON’T GET IT.
yOU ARE TALKING ABOUT SOME BIZZARRO LAND HEALTH CARE AS IF THIS WAS A HEALTH CARE PLAN. iT HAS NOTHING…NOTHING TO DO WITH CARE FOR YOUR HEALTH….PERIOD.
iT IS ALLLLLLLL ABOUT CONTROLLING YOUR COLLECTIVE A$$ FROM CRADLE TO GRAVE.
WAKE UP!
Just another Obama LIE he’s so good at…. he KNEW how much it would cost.. but didnt want to tell anyone cause he wanted it passed… now the idiots who voted him in a second term insead of Romney have no one to blame but themselves….. Eat your heart out… you Democrats… I hope you enjoy paying all that for your insurance.. maybe next time.. you will vote Republican..
Yep, he Fooled the mentally challenged (Voters) with Distraction, Deception, Dishonesty, Denial, Distortion, Out right LIES and with the help of the Manure Spreading communist Non-News propaganda machines spewing his BS the American people were Fed ALL the LIES of this Evil Regime. And NOW they are starting to wake up or we can only HOPE they are.