Surprise! ObamaCare Plans Start At $20,000 For Family Of 4

This is even before deductibles and out of pocket expenses, not to mention the other costs to the American taxpayer

(CNS News) In a final regulationissued 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.

The bronze plan will be the most basic plan offered under O-care. In all fairness, the average cost of health care for a family of 4, per a survey early in 2012, was a bit over $20k, but, that did include all the costs for actual care, medicines, co-pays, etc.

Most of the premiums are being paid by employers, leaving costs to families at $12,144. Some states (mostly Blue ones) have much higher costs. I guess that’s really not fairness, because the O-care plan cost doesn’t include families actually using the most basic insurance plan per the IRS.

“Most people are insulated from the true cost of health care,” Weltz said. (from the “average cost” link)

Fortunately under ObamaCare people will know just what they’re paying, as more and more companies drop their coverage.

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5 Comments

Comment by Some call me....Tim
2013-02-01 14:37:24

Lemme see here….so now the PPACA can be shortened. Throw out the second P and the following A, leaving just PCA. Getting rid of Protection and Affordable at least makes it a shorter acronym for Patient Care Act, which I’m not even sure qualifies if you count end of life counseling.

 
Comment by Dana
2013-02-01 15:17:13

For a full time worker, 40 hours per week, 52 weeks a year, there are 2,080 working hours in the year. If family coverage is going to start at $20,000 a year, the minimum family plan coverage will be just short of $10.00 per hour.

How, I wonder, can a company justify a cost of $20.00 an hour for a worker who is earning only $10.00 an hour — which is still almost a third above the minimum wage — even before taxes (an additional 7.65% just for the employer’s portion of Social Security and Medicare) and other overhead are included?

 
Comment by john
2013-02-02 14:43:19

Dana better read what the cap is going to be before you get too worked up. When you figure that out post it.

 
Comment by gitarcarver
2013-02-02 23:26:51

Well gee gosh golly, john, maybe you should read the IRS’s paper on this which says the family of four minimum is $20,000. There may be exemptions, but you either have to have that level of coverage or pay a fine.

Maybe instead of demanding others do your work for you, you should learn to read.

 
Comment by Gumball_Brains Subscribed to comments via email
2013-02-03 23:43:09

Once again, it proves that just paying the “fine” is still the cheapest action. So much for PROVIDING health care for all. Even though that was never the intent anyway.

I’d like to know how the IRS is going to get that fine from millions of people who refuse to play their game.

Is this a reason why the Dems are trying to get people’s guns? And why they are arming the IRS, Dept of Ed, Dept of Interior, etc?

 

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