Whovian
Banned
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This is what happens when you're told to pass a law so you can understand what is in it...
Older Workers Could Face Cost Disparities in Health Law Glitch - FoxNews.com
...you don't.
Older Workers Could Face Cost Disparities in Health Law Glitch - FoxNews.com
Older adults of the same age and income with similar medical histories would pay sharply different amounts for private health insurance due to what appears to be an unintended consequence of the new health care law.
To see how the Social Security wrinkle would work, consider a hypothetical example of two neighbors on the same block.
They are both 62 and have the same income of $39,500 a year. But one gets all his income from working, while the other gets $20,000 from part-time work and $19,500 from Social Security.
Neither of them gets health insurance on the job. Instead, they purchase it individually.
Starting in 2014, they would get their coverage through a new online health insurance market called an exchange. Millions of people in the exchanges would get federal tax credits to make their premiums more affordable. Less-healthy consumers could not be charged more because of their medical problems.
The neighbor who is getting Social Security would pay an estimated $206 a month in premiums.
Half of his income from Social Security, or $9,750, would not be counted in figuring his federal health insurance tax credit. On paper, he would look poorer. So he would get a bigger tax credit to offset his premiums.
But the neighbor who makes all his income from work would not be able to deduct any of it. He would pay $313 for health insurance, or about 50 percent more.
...you don't.