About 4 million people — including the estimated 1 million low-income Americans must to pay the Obamacare penalty for 2016.
So how is that promise for insurance for everyone working out?
A report last week from the Congressional Budget Office estimated that 1 million Americans will be required to pay a penalty to the Federal government by the end of next year as a “tax” for declining to purchase health insurance under Obamacare’s individual mandate provision.
In all, CBO now expects about 4 million people — including the estimated 1 million low-income Americans who live below the government’s 200 percent poverty threshold — to pay the Obamacare penalty for 2016.
From the report:
“CBO and [the Joint Committee on Taxation] JCT’s estimates of the number of people who will pay penalties account for likely compliance rates as well as the ability of the Internal Revenue Service (IRS) to administer and collect the penalty payments.
All told, CBO and JCT estimate that about 4 million people will pay a penalty because they are uninsured in 2016 (a figure that includes uninsured dependents who have the penalty paid on their behalf). An estimated $4 billion will be collected from those who are uninsured in 2016, and, on average, an estimated $5 billion will be collected per year over the 2017-2024 period.
Of the 1 million Americans the government regards as “low-income,” roughly 200,000 will earn gross income of less than 100 percent of the government’s poverty baseline; another 800,000 will earn less than 200 percent of the gross income poverty line, which places them in a category of low-income earners eligible to receive a host of Federal poverty entitlements. For a breakdown of how the Department of Health and Human Services assesses “poverty” as a ratio of household size to annual income, see the department’s 2014 poverty guidelines.
The CBO graph below illustrates the Obamacare penalty forecast as a function of income demographics:
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“In general, households with lower income will pay the flat dollar penalty (with adjustments to account for the lower penalty for children and the overall cap on family payments), and households with higher income will pay a percentage of their income,” the report indicates.
No doubt can’t afford the Premiums, Proof Insurance has become a License to Steal, that was suppose to Prevent Theft James 5:1 -7 Laundry Day ain’t no Joke, Satan’s Joke on Them!
Well it was his stupid idea so Obama should pay it out of his own Pocket we know he has been lining his own pockets just read other Countries it says it all about Obama big plans i am so unsure why Congress wont get off there Lazy good for nothing Asses an impeach him once an for all Dont you think he done enough damage to our country or are you going to run it completely into the Ground that God gave us Remember what it Say In God We Trust but with the devil at the wheel he will ran her down ( that is our Country )
Now even more people are uninsured. We need to be responsible for ourselves. Obama has proven that gov’t does not take care of anyone. This was all done to have control over the citizens of this country. Those of you who voted for this idiot deserve what you get, but not the rest of us.
No comment. K8
That TERRORIST and Traitor, even tho I am pretty sure that IDIOT is an ILLEGAL UNCONSTITUTIONALLY in an office that HE IS NOT ALLOWED TO BE IN. JUST LIKE ALL THE ILLEGALS IN THIS COUNTRY. EVERYONE of them ARE TERRORISTS just like ODUMMER and hit family and ALL of his supporters.
You got what you voted for!
BS
What the Stupid Uninformed BO followers deserve for voting for Him !!
Meanwhile thousands of illegal aliens including pregnant females and children pouring across what was a border every week will get free health care including delivery of children, post delivery care, lifetime care for birth defects, chemotherapy, dialysis, organ transplants and other care not available to veterans and other low income Americans. Those who voted for Obama will be paying for them. Hope you like your hope and change……..
It was passed into law as a tax scheme. That ought to tell you something.
– If you enroll in it you’ll pay as much, or more, than with independent insurance.
The insurers offered are given a captive market, courtesy of the government. It isn’t “shopping around.”
– if you don’t enroll, you’ll be made to pay a tribute to the Feds for rejecting them.
It does represent “something” in the way of health coverage. That feeds the need of all Progressives to have a legacy.
But it’s a tax plan, first. It’s best to actually pay attention to what our leaders do, and not just take their word for things.