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Thread: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

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    IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    (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.

    IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family | CNS News

    So much for bending the cost curve down eh? Wow! Why would anyone not just pay the tax? Man, what a lie we were forced into with this crap.
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Yea, that's accurate. CNS news?
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by j-mac View Post
    So much for bending the cost curve down eh? Wow! Why would anyone not just pay the tax? Man, what a lie we were forced into with this crap.
    1) And what would the cost have been without Obamacare?
    2) Cant bend the cost curve when you wont attack the root cause of the problem.
    3) Cant bend the cost curve when your laws and regulations (even Obamacare) is written by the freaking for profit healthcare industry.
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    This has been going around for a while now. The $20k figure comes from an example the IRS uses in one of their publications. At this point I'm not even sure anybody knows what a "Bronze Level" plan will have to consist of.

    That being said, we do know what the penalties are going to be and I'll pretty much guarantee you that for someone single, in good health and with no kids it will be a whole lot cheaper to pay the fine.

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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by mak2 View Post
    Yea, that's accurate. CNS news?
    Ok, so:
    The annual national average bronze plan premium for afamily of 5 (2 adults, 3 children) is $20,000.
    The annual national average bronze plan premium for a family of 4 (1 adult, 3 children) is $18,000.
    page 70
    http://www.irs.gov/PUP/newsroom/REG-148500-12%20FR.pdf

    What was incorrect about the reporting?
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by j-mac View Post
    So much for bending the cost curve down eh? Wow! Why would anyone not just pay the tax? Man, what a lie we were forced into with this crap.
    note who 'signed' the IRS document:

    (c) Effective/applicability date. This section and 1.5000A-1 through 1.5000A-4
    apply for months beginning after December 31, 2013.
    Steven T. Miller
    Deputy Commissioner for Services and Enforcement.
    pg 73
    http://www.irs.gov/PUP/newsroom/REG-148500-12%20FR.pdf

    I thought Miller was fired/resigned...
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Perhaps someone can explain something to me.

    Most insurance plans have tiers as such:

    Single (employee only)
    Single+ spouse
    Parent + Children
    Family

    For some strange reason, many examples of coverage thrown about with the ACA specifies the number of children, when Family coverage covers 2 adults and whatever number of children are in the household, all inclusive in the premium.

    Is accounting for the number of children in their examples supposed to mean something?
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by PeteEU View Post
    1) And what would the cost have been without Obamacare?
    I know it wouldn't be anywhere near $20,000.

    I have had, still do, insurance through work for a family of four, and it runs me about $3,600. per year....

    2) Cant bend the cost curve when you wont attack the root cause of the problem.
    How is costing me 5X more for insurance bending anything other than my wallet?

    3) Cant bend the cost curve when your laws and regulations (even Obamacare) is written by the freaking for profit healthcare industry.
    I see, so it really isn't about making Health Care better, or less expensive for me, the consumer, but rather attacking companies that make a profit....
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by Lutherf View Post
    This has been going around for a while now. The $20k figure comes from an example the IRS uses in one of their publications. At this point I'm not even sure anybody knows what a "Bronze Level" plan will have to consist of.

    That being said, we do know what the penalties are going to be and I'll pretty much guarantee you that for someone single, in good health and with no kids it will be a whole lot cheaper to pay the fine.
    What do the coverage levels mean?

    The difference among these coverage tiers rests with their "actuarial" value -- in other words, how much a plan will cover before the patient must chip in for co-insurance, deductibles and co-payments.

    According to the Kaiser Family Foundation, the actuarial values for the four levels of coverage are:

    Bronze: 60 percent.
    Silver: 70 percent.
    Gold: 80 percent.
    Platinum: 90 percent.

    For example, someone who gets a silver plan would have to pay 30 percent of health care costs, while the plan covers 70 percent. Most Americans will be required to get at least a bronze-level plan, according to Kaiser, unless they're eligible for a religious or hardship exemption.

    All plans, whether bronze, silver, gold or platinum, will cover certain essential health benefits determined by the U.S. Department of Health and Human Services, such as ambulatory services, emergency care, maternity care and prescription drugs.
    Read more: Bronze, silver, gold or platinum? Understanding the new coverage levels under health care reform
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    Re: IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

    Quote Originally Posted by Dickieboy View Post
    note who 'signed' the IRS document:


    pg 73
    http://www.irs.gov/PUP/newsroom/REG-148500-12%20FR.pdf

    I thought Miller was fired/resigned...
    Yeah, good point...What's going on here?
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