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Thread: Obamacare Subsidies

  1. #71
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    Re: Obamacare Subsidies

    (POST #48)
    Quote Originally Posted by mac
    It's an income tax break designed to offset the cost of the premiums. You pay the premiums for 12 months and get some of it back in your tax return. So, basically, you suck it up 12 months a year.
    Totally incorrect.

    The ACA subsidy is to consist of lower premiums. See link:

    Understanding the ACA Subsidies

    (from link):
    To help lower and some middle income families pay for health insurance, the Affordable Care Act limits the amount of money the family would have to spend on premiums for a Silver Plan (we will get to this later) based upon a percentage of income. The law does this by capping the amount that each family will pay themselves depending on where they fall in relation to the FPL (Federal Poverty Level)… Higher income households will have a higher cap as a percentage of income.
    Hey mac, WTF do you do when you post something on this board?-
    just blather out any old goddam thing that pops into your head
    as long as it is in line with your prejudices?

  2. #72
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    Re: Obamacare Subsidies

    Quote Originally Posted by apdst View Post
    It will grow teeth, when too many people choose the fine over the insurance plan.
    Let me know when the GOP house votes to increase the penalties.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

  3. #73
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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    Incorrect. For example, when I pay taxes in April of 2014 for the year of 2013, I will claim the kid that was born in 2013. I was not able to claim her during the year to get back a prorated piece for the taxes I paid in April of 2013, I have to wait and then get the money when I put in the information from the previous year.
    That's because you are filing a 2013 tax return. The 2013 year does not extend beyond 2013. Remember, you are filing a 2013 tax return for the year ending Dec 31...2013 by april of 2014. You are not filing a 2014 tax return.

    Same-Same for all this. All this is post-year data. You can't claim it until the year is over.
    It's still that years return...
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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    I understood it was supposed to go directly to the insurance companies.
    That's not what I understand it to be. You pay the premium, the USG refunds a portion of your premium, to you, as a tax break in your return.

    If they are really going to make these people pay for a full year up front without the subsidy.... they are going to lose in a wave election that will make 2010 look like a friggin pleasant day at the beach.
    It's not a full year up front, it's a monthly premium. Still, people not used to paying a premium, because they can't afford to, are going to have trouble paying it regardless of the year end refund.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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    Re: Obamacare Subsidies

    Quote Originally Posted by USViking View Post
    (POST #48)


    Totally incorrect.

    The ACA subsidy is to consist of lower premiums. See link:

    Understanding the ACA Subsidies

    (from link):


    Hey mac, WTF do you do when you post something on this board?-
    just blather out any old goddam thing that pops into your head
    as long as it is in line with your prejudices?
    Lower premiums as compared to what? and, where does it say how the "subsidy" is delivered? Hmm?

    and....where is the person that wasn't paying a premium (because they couldn't afford it) going to get the $193 a month to pay it now?
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

  6. #76
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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    That's because you are filing a 2013 tax return.
    Yes. And I am filing it in 2014. Hence the "previous year". The subsidy I receive in 2014 will be based on the income I earned in 2013, because that is what I will have to put in the system when I apply.

    That's not what I understand it to be. You pay the premium, the USG refunds a portion of your premium, to you, as a tax break in your return.
    I do not think that is correct.

    It's not a full year up front, it's a monthly premium. Still, people not used to paying a premium, because they can't afford to, are going to have trouble paying it regardless of the year end refund.
    If I am a couple with two kids making $35,000 a year, and I sign up in Dec 2013 based off of my 2013 income, and I have to pay for insurance for all of 2014 before I get the subsidy in April of 2015 - there is no way I'm going to be able to afford the the sky high premiums in the meantime. Therefore, in November of 2014 (before I get my subsidy, but after I have been economically ruined) I'm going to vote Republican no matter who I am. I cannot imagine the Democrats would be that deliberately suicidal.

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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    Yes. And I am filing it in 2014. Hence the "previous year". The subsidy I receive in 2014 will be based on the income I earned in 2013, because that is what I will have to put in the system when I apply.
    It's still the 2013 tax return. The tax year ends on Dec 31, it would be nonsensical for the filing deadline to be in 2013...the gov wants every last dime they are entitled to. You may be filing in 2014...but it's a 2013 tax filing, not a 2014 filing.

    I do not think that is correct.
    Well, it's possible it's not....but that's what all the reporting I've read on it states.

    If I am a couple with two kids making $35,000 a year, and I sign up in Dec 2013 based off of my 2013 income, and I have to pay for insurance for all of 2014 before I get the subsidy in April of 2015 - there is no way I'm going to be able to afford the the sky high premiums in the meantime. Therefore, in November of 2014 (before I get my subsidy, but after I have been economically ruined) I'm going to vote Republican no matter who I am. I cannot imagine the Democrats would be that deliberately suicidal.
    Well, you're not paying it lump sum....it's monthly, unless you choose to pay a year at a time.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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    Re: Obamacare Subsidies

    Quote Originally Posted by mac View Post
    It's still the 2013 tax return. The tax year ends on Dec 31, it would be nonsensical for the filing deadline to be in 2013...the gov wants every last dime they are entitled to. You may be filing in 2014...but it's a 2013 tax filing, not a 2014 filing.
    Yeah - but you're not going to get your tax return until 2014. So any subsidy for 2013 would be paid in 2014. See where I'm getting this?

    Well, it's possible it's not....but that's what all the reporting I've read on it states.
    I just don't see this bill of all bills choosing to give people more control over their own money, or trusting them to use it wisely and appropriately. That's sort of the antithesis of the spirit of the thing.

    Well, you're not paying it lump sum....it's monthly, unless you choose to pay a year at a time.
    That's why I'm thinking that the money goes straight from the government to the insurer, and then the insurer charges you lower monthly premiums.

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    Re: Obamacare Subsidies

    Quote Originally Posted by Deuce View Post
    Let me know when the GOP house votes to increase the penalties.
    Wouldn't it be easier to just shut down the government and jeapardize the solvency of our economic system then attach an amendment to a bill?

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    Re: Obamacare Subsidies

    Quote Originally Posted by cpwill View Post
    Yeah - but you're not going to get your tax return until 2014. So any subsidy for 2013 would be paid in 2014. See where I'm getting this?
    Ok, I'll meet you half way. Since you file taxes after the year is over, it's technically last year. Cool?

    I just don't see this bill of all bills choosing to give people more control over their own money, or trusting them to use it wisely and appropriately. That's sort of the antithesis of the spirit of the thing.
    Yeah, I agree, but I sincerely doubt they expect you to come up with a lump sum for the year.

    That's why I'm thinking that the money goes straight from the government to the insurer, and then the insurer charges you lower monthly premiums.
    It's possible. It's not like anyone knows whats in this bill until after it takes effect.
    ”People willing to trade their freedom for temporary security deserve neither and will lose both.” --- Ben Franklin

    Quote Originally Posted by The German View Post
    Sterotypes are mostly based on truths.

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