I just heard on the beck (side)show ...

[1StrongBlackMan]

a caller that stated that she was a tax preparer and she just learned something shocking ... the ACA penalty for opting out of healthcare insurance under the ACA, for a family of 4 with taxable income of $100,000 would be $3,500 in 2014, $5,000 in 2015, and $7,500 after 2016.

And she was outraged ... Outraged I tell ya. And beck was like "Yup ... Yup ... Outrageous!"

Okay ... trusting that this recently trained tax preparer's numbers are correct (highly doubtful since she called in to the beck (side)show) ... wouldn't that mean that this 4 member, $100,000 earning household would receive bronze-level health insurance for $291.67/mth in 2014, $416.67 in 2015, and $625.00 afterwards?

That seems really reasonable to me, since my insurance cost (without my employer share) will be about 6 times that (though the coverage level would be considered silverish plus) ... and just about the same as the 2016 rate, today, without the employer share?

[Tx4obama]

1. There is an email going around about a huge ACA fine. It's been debunked, two links below

Politifact, here: http://www.politifact.com/truth-o-meter/statements/2013/oct/04/facebook-posts/closer-look-facebook-post-mans-struggle-obamacare-/

Snopes, here: http://www.snopes.com/politics/medical/penalty.asp

[Curmudgeoness]

2. Fire that tax preparer....immediately.

She is so full of shit, she doesn't have a clue. Don't even let her do a 1040-EZ form!!!

The penalty is phased-in over a three year period.

In 2014, the penalty will be the greater of 1.0% of taxable income or $95 per adult and $47.50 per child (up to $285 per family).

In 2015, the penalty will be the greater of 2.0% of taxable income or $325 per adult and $162.50 per child (up to $975 per family).

In 2016, the penalty will be at the greater of 2.5% of taxable income or $695 per adult and $347.50 per child (up to $$2,085 per family).

https://www.ehealthinsurance.com/affordable-care-act/faqs/how-much-are-the-tax-penalties-for-not-having-health-insurance-and-when-do-they-apply

[1StrongBlackMan]

3. So ...

using her example, that would be (a maximum of) $1,000 in 2014 ($83.33/mth); $2,000 in 2015 ($166.67/mth); and $2,500 there-after (208.33/mth)?

Wow ... $2,500 (208.33/mth) for health insurance (with all of the ACA features) for a family of 4? What she she outraged about?

I guess these folks give new meaning to the phrase, "Give me liberty or give me death." Apparently, their ideology trumps survival.

[Curmudgeoness]

4. No, that isn't what this is saying.

Those are the penalties for people who do not get coverage, not the premiums. I have no doubt that a family of 4 making $100,000 a year has health insurance already.

She claimed $3500 in 2014, which is not even close to the $1000 actual penalty.

[1StrongBlackMan]

5. I agree her numbers are way off ...

but wouldn't a family of 4 making $100,000 a year that opts out of coverage, paying the penalty instead, not receive a bronze-level of coverage under the ACA?

[DeadEyeDyck]

6. maybe I am confused,

but I thought when you paid the fine, you were left uninsured. But I could be wrong.

[1StrongBlackMan]

7. I don't know ...

that's why I'm asking.