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Tuesday, June 4, 2013

IRS Assumes Cheapest Health Care Insurance for Family Under ObamaCare Will Be $20,000


"It's just some teething problems with implementation. Don't worry. You all will learn to love it. After all, it was named after me. Oh, and if you're in a union, donated enough to the Democrats, or are otherwise politcally connected, you'll be given a waiver."

But, I thought my health care insurance wouldn't go up a single dime under ObamaCare, right Obama?

From CNS News:

In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year. 
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS. 
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan. 
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says. 
Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016. 
In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance. 
To help illustrate these rules, the IRS presented examples of different situations families might find themselves in. 
In the examples, the IRS assumes that families of five who are uninsured would need to pay an average of $20,000 per year to purchase a Bronze plan in 2016.

Did anyone realistically think that the result of the federal government defining how much insurance we must have and what the insurance must cover would be cheap?

ObamaCare was never popular, but I wonder how much more unpopular it will become once people realize how truly expensive it will be, both for the insured and for the country. And let's all remember one thing-- the colossally expensive screw-up that is ObamaCare is solely the fault of the Democrats. Make them own it.

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