quote:

ORIGINAL: pahunkboy

...the taxes tho start right away.

quote:

ORIGINAL: slvemike4u

PA,I would like you to go back and read your own post once again...those fines fall on the buisness owner..so how do you turn around and do the "family of four" bit.
Those are ,if I'm reading and can trust,your numbers the fine schedules business owners will pay for not offering their employees coverage.Not fines for individuals who opt not to buy insurance!

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ORIGINAL: Thadius

quote:

ORIGINAL: pahunkboy

...the taxes tho start right away.

Most of em do, but the serious fines and heavy handed levies don't begin until 2018, a couple years after the President would be out of office if he is reelected. Nothing unseemly about that, burden a future administration and congress with imposing such measures, while claiming credit for all the good stuffs.

quote:

ORIGINAL: slvemike4u

quote:

ORIGINAL: Thadius

quote:

ORIGINAL: pahunkboy

...the taxes tho start right away.

Most of em do, but the serious fines and heavy handed levies don't begin until 2018, a couple years after the President would be out of office if he is reelected. Nothing unseemly about that, burden a future administration and congress with imposing such measures, while claiming credit for all the good stuffs.

Certainly not as unseemly as lowering taxes for the rich while running two wars....off the books so to speak.Yep Obama has along way to go to reach the chicanary level of the previous administration...thanks for pointing that out

quote:

ORIGINAL: Thadius

quote:

ORIGINAL: slvemike4u

PA,I would like you to go back and read your own post once again...those fines fall on the buisness owner..so how do you turn around and do the "family of four" bit.
Those are ,if I'm reading and can trust,your numbers the fine schedules business owners will pay for not offering their employees coverage.Not fines for individuals who opt not to buy insurance!

Nah Mike, those are the fines imposed on individuals and families that don't follow the mandate, he may have mixed up the numbers though as I remember them being closer to $235 for an individual in 2014 phasing up to the 2.5% of gross income by 2018.

quote:

ORIGINAL: TreasureKY

Patient Protection and Affordable Care Act

SEC. 5000A. REQUIREMENT TO MAINTAIN MINIMUM ESSENTIAL COVERAGE

(a) REQUIREMENT TO MAINTAIN MINIMUM ESSENTIAL COVERAGE.—

An applicable individual shall for each month beginning after 2013 ensure that the individual, and any dependent of the individual who is an applicable individual, is covered under minimum essential coverage for such month.

(b) SHARED RESPONSIBILITY PAYMENT.—

   (1) IN GENERAL.—If an applicable individual fails to meet the requirement of subsection (a) for 1 or more months during any calendar year beginning after 2013, then, except as provided in subsection (d), there is hereby imposed a penalty with respect to the individual in the amount determined under subsection (c).

   (2) INCLUSION WITH RETURN.—Any penalty imposed by this section with respect to any month shall be included with a taxpayer’s return under chapter 1 for the taxable year which includes such month.

   (3) PAYMENT OF PENALTY.—If an individual with respect to whom a penalty is imposed by this section for any month—

        (A) is a dependent (as defined in section 152) of another taxpayer for the other taxpayer’s taxable year including such month, such other taxpayer shall be liable for such penalty, or

        (B) files a joint return for the taxable year including such month, such individual and the spouse of such individual shall be jointly liable for such penalty.

(c) AMOUNT OF PENALTY.—

   (1) IN GENERAL.—The penalty determined under this subsection for any month with respect to any individual is an amount equal to 1⁄12 of the applicable dollar amount for the calendar year.

   (2) DOLLAR LIMITATION.—The amount of the penalty imposed by this section on any taxpayer for any taxable year with respect to all individuals for whom the taxpayer is liable under subsection (b)(3) shall not exceed an amount equal to 300 percent the applicable dollar amount (determined without regard to paragraph (3)(C)) for the calendar year with or within which the taxable year ends.

   (3) APPLICABLE DOLLAR AMOUNT.—For purposes of paragraph (1)—

        (A) IN GENERAL.—Except as provided in subparagraphs (B) and (C), the applicable dollar amount is $750.

        (B) PHASE IN.—The applicable dollar amount is $95 for 2014 and $350 for 2015.

        (C) SPECIAL RULE FOR INDIVIDUALS UNDER AGE 18.—If an applicable individual has not attained the age of 18 as of the beginning of a month, the applicable dollar amount with respect to such individual for the month shall be equal to one-half of the applicable dollar amount for the calendar year in which the month occurs.

        (D) INDEXING OF AMOUNT.—In the case of any calendar year beginning after 2016, the applicable dollar amount shall be equal to $750, increased by an amount equal to—

             (i) $750, multiplied by

             (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2015’ for ‘calendar year 1992’ in subparagraph (B) thereof.  If the amount of any increase under clause (i) is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50.

What does this mean? 

Take an example family... husband, wife, and child (age 15)...

For every month they do not carry the approved minimum health insurance, the fine (paid when they file their tax return) would be...

For year 2014:         Husband     $7.92
                          Wife           $7.92
                          Daughter    $3.96
                          TOTAL     $19.80

           If they do not carry the required insurance for the entire year, the fine would total $237.60.

For year 2015:         Husband     $29.17
                            Wife           $29.17
                            Daughter    $14.58
                            TOTAL     $72.92

           If they do not carry the required insurance for the entire year, the fine would total $874.04.

For year 2016:         Husband     $62.50
                            Wife           $62.50
                            Daughter    $31.25
                            TOTAL     $156.25

           If they do not carry the required insurance for the entire year, the fine would total $1,875.00.

Please note that I've not calculated the cost of living increase in these examples. 

Regardless of the number of children, no family will pay more than three times the full adult fine amount, or $2250 per year (plus cost of living adjustment).

Of course, these figures are from the Senate version of the bill and it must still be reconciled with the House.  The House version proposed the fine be 2.5% of the modified adjusted gross income limited to the national average yearly premium.

quote:

ORIGINAL: slvemike4u

No doubt the numbers crunched by the CBO include 6yrs of benifits for 10 years of tax...but as you yourself pointed out in another thread.....some of those benifits kick in right away...for instance you replied to one of my posts about my child having to wait in order to be carried on his mothers insurance...not true,takes affect this year as do a number of other benifits.

quote:

ORIGINAL: jlf1961

I dont think the mandatory purchase of health insurance will stand up in the supreme court, at least I hope it doesnt, I am on a fixed income and couldnt afford to pay more than $25 a month for health insurance.

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ORIGINAL: slvemike4u

All of which suggests that after the first couple of years buying the damm insurance would be cheaper than running afoul of the requirement.....in essence what the bill was crafted to encourage

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ORIGINAL: Thadius

quote:

ORIGINAL: slvemike4u

All of which suggests that after the first couple of years buying the damm insurance would be cheaper than running afoul of the requirement.....in essence what the bill was crafted to encourage

I don't know what you are paying in premiums or you think premiums for the "minimum excepatable coverage" is going to cost, but in my eyes the fines at least in early phase in are still cheaper than that of buying a pollicy. I am sure many folks will think the same way, and for the first couple years of fine phase in the lack of new entries into the "exchange insurance pool" will push premiums even higher as the cost will not be spread across as many heads.

Just my opinion, and I think a fair look at the setup.