Sign Up for Obamacare or Go to Jail!!
For instance, the nonpartisan Joint Committee on Taxation said premiums will increase 2 percent because of the tax about $350 to $400 per family by 2016. The fact that the statutory incidence of the health insurance fee is on the insurer does not alter the economic incidence of the tax, which is the same regardless of who writes the check to the government, the JCT wrote in a 2011 letter to former Sen. Jon Kyl (R-Ariz.). With the tax now going into place, the debate will move from theory to reality, and it may soon become clearer to what extent the tax bump contributes to higher premiums. A pain in the bellybutton? A temporary, three-year tax on insurers, which will redistribute the money back to select health care providers as a sort of financial safety net, also officially kicked in Jan. 1. Some politicians call it the bellybutton tax because it also applies to a policyholders spouse and dependents while policy wonks know it as the reinsurance fee. By either name, its basically insurance for the insurers that spreads out risk.
For the original version including any supplementary images or video, visit http://www.politico.com/story/2014/01/obamacare-taxes-2014-101810.html
ObamaCare brings new taxes, fees for 2014
First of alland it really isnt noted enoughObamacare was OKayed by the Supreme Court of the United States not because it is a healthcare law and not because it is insurance, but because Obama told the court it was a tax. So, Obamacre is not healthcare at all. It is merely just another big government tax hike. Because Obamacare is a tax hike, it can be treated like any other tax. And who collects those taxes? The IRS? And what sort of power does the IRS have? It has the power to kick down your door with armed forces, it has the power to confiscate your bank accounts, it has the power to detain you, and it has the power to put you in jail if you do not do everything it tells you to do. Now, it is true that as the law was passed the IRS has not (yet) been given the power to proactively use its police powers to force us to pay these taxes. Currently, the IRS will just take any fines or fees assessed by Obamacare right out of your refund payments.
For the original version including any supplementary images or video, visit http://wizbangblog.com/2014/01/07/sign-up-for-obamacare-or-go-to-jail/
This year, that penalty will be $95, or 1 percent of household income, whichever is greater. The penalty will increase considerably in 2015 and beyond, though it remains unclear whether it is big enough to compel reluctant individuals to enter the insurance market. Finally, insurance companies are dealing with another set of increases. They are: -- A so-called "reinsurance fee" will be applied to some health insurers this year. The temporary fee is meant to raise $25 billion over three years, to help pay for the cost of those with pre-existing conditions signing up for coverage through the ObamaCare exchanges. The fee would start at $63 per person, but then drop to a bit more than $40 per person in 2015. It would drop again the following year. Critics warn that this could result in higher premiums, much like the annual tax on health insurers. -- Individual and group health insurers will be required to pay a small fee to fund a Patient-Centered Outcomes Research Institute. The fee is set at $2 per covered person this year, and will be adjusted annually based on "medical inflation." -- Some insurers will also be hit with a fee to fund what is known as a "risk adjustment program." This is meant to spread the risk around, by charging policies with lower-risk customers and using that money to offset costs for policies with higher-risk customers. -- The Department of Health and Human Services has proposed charging a monthly user fee equal to 3.5 percent of the premium for policies in the federal exchange. This money is meant to help fund the insurance exchanges. Republicans argue that all these fees and more will contribute to rising premiums.
For the original version including any supplementary images or video, visit http://www.foxnews.com/politics/2014/01/02/obamacare-brings-new-taxes-fees-for-2014/