Update: My income loss (due to my hours being cut because of Obamacare) that started on 3-1-15 will be updated here every two weeks. So far my 70th pay loss after taxes is $7064.57. Then add that to the $325.00 penalty I was hit with on my 2015 income taxes and the total is $7389.57.
Update 1: Here is a very important piece of info that I wanted to specifically highlight about Obamacare. As all working adults have known for decades, full time employment in America has always been 40 hours. Always. However, Obamacare architects have redefined this as follows: A "full-time employee" is defined as anyone working an average of 30 hours a week, rather than the traditionally accepted 40-hour work week. This applies specifically to companies of 50 or more employees.
Not only is this change ridiculous, but also destructive to workers. Many businesses have cut or will be cutting hours of full time employees because of this law. Taking food and other things away from many hard working Americans is bad. And devastating to peoples lives. I just learned in January 2014 my weekly hours will be cut from 32 to 24. So I'll be missing the equivalent of one weeks pay a month. And that hurts. So the next time Obama gives a speech and says he wants to help the lower and middle class in America, you'll know it's all talk. He has shown time after time he doesn't want to help any class of Americans.
Update 2: A lot of people are going to be for a financial shock with their Federal income taxes in 2015. The following is from CNN.com: Obamacare enrollees who received subsidies to help pay for coverage will soon have to reconcile how much they actually earned in 2014 with how much they estimated when they applied many, many months ago. This will likely lead to some very unhappy Americans. Those who underestimated their income either will receive smaller tax refunds or will owe the IRS money". That's because subsidies are actually tax credits and are based on annual income, but folks got their 2014 subsidy before knowing exactly what they'd make in 2014. So you'll have to reconcile the two with the IRS during the upcoming tax filing season.
Many people in America probably have heard of Obamacare, but do not know the details. The Affordable Care Act, aka, Obamacare, was passed on 3-23-10 with only Democrat votes in both houses. Republicans wanted no part of it. The law requires most people to buy some form of health insurance or pay a fine. Shady and underhanded deals were needed to pass this law. Never before in the history of the United States of America has the government ever forced people to buy a product. Barack Obama wanted this law. This is his law. He is solely responsible for the consequences this law does to America. And so far the start of this law has been a disaster. Most economists, business people, and doctors are saying this law will damage the quality of health care and the industry badly. The costs will probably be staggering. I have been following all the details and the people who help design this law for a long time. And I will explain it here. All facts and in simple terms.
According to the Henry J Keiser Foundation website (a non-profit, non-partisan, private operating foundation) In 2012 roughly 47 million people in America did not have health insurance. And why is simple. The high cost of insurance is why people don't have it. Many companies do not offer health insurance. People without insurance coverage do not have access to preventive care and services for major health conditions and chronic diseases.
Obamacare touts itself as making health insurance affordable for uninsured people through a marketplace. That is the farthest thing from the truth. Deductables for most if not all plans are sky high. Stories of Americans seeing huge premium increases and higher deductables are being reported by the media daily. Also reports are that people are enrolling in Medicaid is higher than those buying insurance on the exchanges. Many states are seeing very few people signing up for Obamacare. The law also says people cannot be dropped from coverage because of a pre-existing condition and cannot be denied coverage or treatment for being sick or charged more for being sick. Also parents can keep their children on their health insurance until the age of 26.
Facts About Obamacare
1- Obamacare reduces payments to Medicare doctors and hospitals.
2- Obamacare takes $716 billion out of Medicare.
3- Obamacare taxes medical device manufacturers products 2.3%.
4- Many doctors are refusing to work with the new health care plan and refusing to see new or all Medicare patients.
5- Some doctors are retiring early or getting out of the profession because of Obamacare.
6- Americans are getting cancellation notices from their health insurance companies because of Omamacare. Numbers are roughly 4-5 million as of mid November 2013.
7- Starting in 2015 Obamacare requires every company with 50 employees or more to offer health insurance to those who work at least 30 hours per week. So employers affected by the law and who do not offer insurance must pay a fine of $2,000 per employee. This will increase the costs for businesses and many may not be able absorb it. So because of the law, most businesses will not grow and expand.
8- Uninsured adults will either be hit with a flat fee fine or a share of their income, whichever is greater. Individuals not having health insurance by March 31 2014 will be fined $95 or 1% of income in 2014, $295 or 2% of income in 2015, and $695 or 2.5% of income in 2016 and every year after (whichever amount is greater). Penalties will be collected through tax returns. Also Congress did not give the IRS the authority to prosecute those who don't pay the penalty, a power it does wield over those who don't pay their income taxes.
9- The law is designed for the young and healthy people to pay for the old and sick. Without young people paying and participating, this law will probably collapse and send costs through the roof. Just adding to our bankrupt country.
10- Deductibles on most if not all plans are outrageous. Totally unaffordable for most if not all people.
11- The government through Obamacare has rules that dictate the minimum standards of all health insurance plans old off and on the exchange. Mandated are essential health benefits. They are:
1- Ambulatory patient services
2- Emergency services
4- Maternity and newborn care
5- Mental health and substance use disorder services, including behavioral health treatment
6- Prescription drugs
7- Rehabilitative and habilitative ( habilitative services help people acquire, maintain, or improve skills and functioning for daily living. For individuals with intellectual or physical disabilities, the inclusion of habilitative services in the EHB package marks an important step toward coverage that better meets their needs.services and devices)
8- Laboratory services
9- Preventive and wellness services and chronic disease management
10- Pediatric services, including oral and vision care
12- The federal government is not required to report security breaches to Obamacare website. Only the states are required to inform the public of website hacking.
13- Replacing a Botox tax was a 10% tax added on people using tanning beds.
14- Insurance companies pay a 3.5 percent user fee to sell medical plans on the Obamacare website, adding to higher costs on policies.
15- Obamacare requires that businesses that have 50 or more full time employees (defined as those working at least 30 hours a week) must provide workers with health insurance. Reports are companies have responded by downsizing below 50 workers and cutting hours below 30 hours.
And the list goes on and on with fees and taxes associated with Obamacare. More than I have listed here.
In May 2013 California received 37 million of your tax dollars from the federal government to promote Obamacare. The video below is from the 'Covered California' YouTube channel. They have over 1100 videos. They do not allow comments on their videos. Comments are disabled and are not allowed. The video below is just one example where part of taxpayer dollars were spent.
To understand Obamacare, you need to understand and hear the people who designed it. The main guys were Dr. Ezekiel Emanuel and Jonathan Gruber. The interviews Dr.Emanuel has given on many TV networks has been extremely revealing to say the least. But you judge for yourself below.
The Democrats (with Obama approving) have created health insurance plans that are a one size fits all. Example: Single men are paying for maternity and newborn coverage for others. They are also paying for pediatric services for others. And healthy and normal people are paying for others that have mental health issues, substance abuse problems, and behavioral issues. All these things drives up costs for all policies. Redistribution is what this law is about.
According to Forbes Dot Com on 11-12-13, about 5 million people have received cancellation notices from their insurance companies because of Obamacare. Just imagine the people being treated for cancer and other life threating conditions getting the cancellation news. Imagine if it was you. And many are finding that the cost of new coverage will be much higher than they were paying before, along with deductables that are enormous and through the roof. So much for affordable health care. Affordable has become a ridiculous term for sure.
Liberal Democrats that have been on TV are incredibly dishonest and deceiving when discussing Obamacare. They never mention any of the negatives of this law. And I have pointed out there are many. Many that will probably have an effect on companies expanding their businesses and hiring, an effect for drug and medical device companies developing new products that will save more lives, an effect that will see more money taken out of peoples pockets, and an effect that will be devastating for the economy in 2014. These are facts that cannot be twisted or ignored. This law is a bad one. Even Democrats are scared to death of the effect this law will be on the 2014 elections. With people waking up to their canceled health insurance policies for themselves and their families due to Obamacare, there is little doubt that many voters affected by Obamacare will turn on Democrats at the ballot box. Many uninformed and low information people are seeing and feeling how devastating liberal policies are for this country.
The following comes from the American Medical Association website: "One of the most controversial provisions of the Patient Protection and Affordable Care Act was the establishment of an Independent Payment Advisory Board (IPAB). While some applaud the new advisory board as a mechanism for controlling health care costs outside the influence of political processes and pressures, others have criticized the scope of its authority and the lack of flexibility in its mandate. Because of these serious concerns, the American Medical Association opposes the IPAB and supports its repeal.
The AMA continues to fight for the elimination of the Independent Payment Advisory Board, which will impose arbitrary across-the-board cuts to physicians and other providers".
President Obama continues to change segments of the law on a regular basis. It really shows his ignorance because he is only delaying the inevitable. And by making these delays and changes, he is breaking the laws of the United States Constitution. That is a fact. He cannot change any law or any parts a law to make himself look good politically. And political talking heads and supporters of the president can spin and lie about what he is doing all they want, they are just blatantly lying. A president is supposed to enforce the laws. The changes Obama is doing are dizzying. Just more proof how bad this law is.
Also please be aware the IRS is required to pass confidential tax info to HHS (Health and Human Services) which will determine subsidies (financial support). All Americans will be required to report changes to income, a new job, move to a new state, and change in marital status. Also a change in work hours can trigger a requirement to update IRS. I wonder how many people will be doing these things? Probably very few. To update these rules The IRS and HHS are building the largest database the government has ever attempted. That should go well especially with the disaster the website was. This will be known as the Federal Data Services Hub, the IRS records and shares info with Social Security, Homeland Security, Justice Department, Health and Human Services, and state governments. Also HHS does not, I repeat, does not have to publicize if their website is hacked. However state exchanges are required to alert the public is their websites are hacked. These requirements will truly be a recipe for disaster.
And last here is a point no one has ever made that I've ever heard or read in the media. If people do not have health insurance, it's probably because most cannot afford it. And I'm in that position. My income isn't enough at this point in my life to buy health insurance. And having the government force me to buy insurance when I don't have the money and then punish me with a fine is wrong. It's anti-American and anti-freedom. That's a fact. Hurting people is bad and disgusting with this law. This is a perfect example why I hate liberalism and liberals. They usually destroy everything they touch. Detroit is a great example of what liberalism is, and what liberals will usually do when they run things.
Also many really non-informed, ideologues, and ignorant people believe Obamacare is good and will help people get low cost or free insurance. That's just not true. There is nothing, I repeat, nothing affordable about the affordable health care law. Health insurance is not free. I welcome and publish all comments. Inappropriate comments cannot be displayed and will be deleted. Thanks for seeing.