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Thread: Obamacare Subsidies

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    Obamacare Subsidies

    Can somebody please explain what these subsidies are supposed to do.

    It is my understanding that the subsidies will be given to people that can prove that they don't make enough money, whatever the cutoff is to pay for the premiums.

    Is the subsidy to pay for the premiums or something else?

    If the subsidy is to pay for the premiums, how will the person pay for the co-pays and the high out of pocket expenses all policy holders must pay before the insurance kicks in?

    They have already proven they don't make enough to pay the premuims ontheir own.

    I am a little confused on this.

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    Re: Obamacare Subsidies

    Quote Originally Posted by Mason66 View Post
    Can somebody please explain what these subsidies are supposed to do.

    It is my understanding that the subsidies will be given to people that can prove that they don't make enough money, whatever the cutoff is to pay for the premiums.

    Is the subsidy to pay for the premiums or something else?

    If the subsidy is to pay for the premiums, how will the person pay for the co-pays and the high out of pocket expenses all policy holders must pay before the insurance kicks in?

    They have already proven they don't make enough to pay the premuims ontheir own.

    I am a little confused on this.
    They'd better find the money to pay the co-pays and deductibles. If they really can't afford them, they're probably eligible for Medicaid.

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    Re: Obamacare Subsidies

    Quote Originally Posted by Mason66 View Post
    Is the subsidy to pay for the premiums or something else?
    Both.

    There are tax credit subsidies which lower the costs of premiums and cost-sharing subsidies which lower the out-of-pocket costs for low income individuals and families.

    The cost-sharing subsidies serve to bring down the cost of individual instances of medical care such as to bring them within the reach of low-income earners.

    As a hypothetical example, an insured earning 125% of the fed poverty limit may have co-pays capped at $5 for a doctor's office visit and $2 for a generic prescription.

    As income increases as a percentage of the poverty level those cost-shared co-pays will increase correspondingly. Maybe at 200% of the fed poverty level they'd pay $15 for an office visit and $5 for a prescription.
    Last edited by soot; 11-04-13 at 01:55 PM.
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    Re: Obamacare Subsidies

    Quote Originally Posted by Mason66 View Post
    Can somebody please explain what these subsidies are supposed to do.

    It is my understanding that the subsidies will be given to people that can prove that they don't make enough money, whatever the cutoff is to pay for the premiums.

    Is the subsidy to pay for the premiums or something else?

    If the subsidy is to pay for the premiums, how will the person pay for the co-pays and the high out of pocket expenses all policy holders must pay before the insurance kicks in?

    They have already proven they don't make enough to pay the premuims ontheir own.

    I am a little confused on this.
    Nope, you're not confused. Your assertions/assumptions are spot on.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    Re: Obamacare Subsidies

    Where does the money for the subsidies come from?

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    Re: Obamacare Subsidies

    Quote Originally Posted by Mason66 View Post
    Where does the money for the subsidies come from?
    Taxpayers. The bill adds that tax penalty for failing to carry insurance, a medical device tax, and some others. Any leftovers will be picked up by the general fund.
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    Re: Obamacare Subsidies

    Quote Originally Posted by soot View Post
    Both.

    There are tax credit subsidies which lower the costs of premiums and cost-sharing subsidies which lower the out-of-pocket costs for low income individuals and families.

    The cost-sharing subsidies serve to bring down the cost of individual instances of medical care such as to bring them within the reach of low-income earners.

    As a hypothetical example, an insured earning 125% of the fed poverty limit may have co-pays capped at $5 for a doctor's office visit and $2 for a generic prescription.

    As income increases as a percentage of the poverty level those cost-shared co-pays will increase correspondingly. Maybe at 200% of the fed poverty level they'd pay $15 for an office visit and $5 for a prescription.
    A tax credit for someone who doesn't pay taxes? How does that work?
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    Re: Obamacare Subsidies

    Quote Originally Posted by Deuce View Post
    Taxpayers. The bill adds that tax penalty for failing to carry insurance, a medical device tax, and some others. Any leftovers will be picked up by the general fund.
    That's great...until someone figures out how to write off the penalty.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Obamacare Subsidies

    Quote Originally Posted by Deuce View Post
    Taxpayers. The bill adds that tax penalty for failing to carry insurance, a medical device tax, and some others. Any leftovers will be picked up by the general fund.
    Actually, that is not entirely correct. Taxpayers cannot even come close to paying the bills we already have, so the money must be borrowed. Your grandkids will be stuck with the bills.

    Taxes like the medical device tax make even less sense. Government imposes a tax on healthcare devices, which will drive up the cost, which will drive up the cost of healthcare, which the government will then subsidize.

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    Re: Obamacare Subsidies

    Quote Originally Posted by jimbo View Post
    Actually, that is not entirely correct. Taxpayers cannot even come close to paying the bills we already have, so the money must be borrowed. Your grandkids will be stuck with the bills.

    Taxes like the medical device tax make even less sense. Government imposes a tax on healthcare devices, which will drive up the cost, which will drive up the cost of healthcare, which the government will then subsidize.
    I don't see what the problem is. A well written governmental SNAFU at it's best, dontcha think?
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