Can we discuss some details of the ACA?

LOL wrote: Another thing to consider is that "means testing" for subsidies is not so simple as it sounds. Many people have irregular income year-year, even month to month. Your official IRS total AGI 2014 income will not be officially documented and added up until as late as April 2015, so I am not sure what is used to document annual income, and what happens if you estimate it wrong. Lots of fun ahead!

Your subsidies, if any, will be based on your modified adjusted gross income (an extra calculation to do) from the most recent tax form available.

For most people that means this year will determine if you get subsidies for your health insurance starting in 2014, because 2013 taxes wouldn't of been completed and due until April 2014.

You will get subsidies to help pay your health insurance premiums in the form of refundable tax credits. And you can apply to get the tax credits early so you have the cash when the premiums are due.

To get the subsidies, your income needs to be in the range of 139% to 400% of the FPL (Federal Poverty Level). Here are the FPL levels for 2012 (I assume 2014 levels will apply):

http://aspe.hhs.gov/poverty/12poverty.shtml/

If single, you will get subsidies if you make under about $45K in 2012. If married, under $60K; and under $93K for a family of four.

So keep an eye on your 2012 income if you want subsidies in 2014.

http://www.kff.org/healthreform/upload/8168.pdf

Science Chic wrote: Amazing how having kids will motivate you to get the will done in a hurry! I've always had insurance coverage because it's dumb to think that a serious accident can't happen to you at any moment at any age.

The question I have is, isn't the point of this bill to lower the exorbitant feedback loop of costs that's been occurring back and forth between insurance companies and providers (doctors/hospitals/etc) and those who haven't had insurance and the tab's been picked up by the taxpayer anyway? Every system is going to cost us all, the question is which one will be managed better (and no, I don't know the answer to that, I just know that the system we have is not optimal, effective, or desirable). If the penalty needs to be adjusted in the future because that many are opting out, then it needs to be adjusted, or the kids left to bleed and suffer, or pay full-price for their repair/rehabilitation. There has to be accountability, checks and balances, and smart management.

I agree SC, but when in the history of this country has the government bureaucracy been able to wisely manage tax revenue? I understand the problem of rising health insurance, but I also understand that the actual cost of medical care is the driving force in rising costs. how will the government control these costs if it can't seem to control the costs of every other government run program? I guess we'll be paying for thousands of new government employees to fix the problem.

Thanks for the links Pine. I would recommend reading the PDF file about tax years. Looks like you need to pay the credits back if your income or family status changes over the 2 years. I think I'll be keeping my pre-existing non-obamacare plan for awhile. No wonder they need so many new IRS agents.

Income eligibility for advance tax credit payments may be determined using income as reported on the most recent tax return available. Under the law, individuals eligible for premium tax credits can apply for advance payments of the credits, which will be paid directly to their insurer. This is important for helping to make coverage affordable at the time it is needed. The ACA provides that income eligibility for advance payments may be determined using income as reported on the most recent tax return available, which for many people may reflect income for two years prior to the year for which assistance is being requested. The law also requires that procedures be in place to collect more current income information from people who experience a change in their financial situations or family circumstances since filing a return, or do not file a tax return. Income eligibility for premium tax credits ultimately will be based on an individual’s annual income for the year in which credits were received. At the end of the year, any advance premium credit payments received will be reconciled against the credits for which individuals are eligible based on their annual income that year, which will be determined based on their annual MAGI as reported on the tax return. If the advance payments exceed the amount of credit for which individuals are ultimately eligible, some or all of the overpayment must be repaid.1 This could cause a financial burden for families and discourage some individuals from applying to receive advance payments of the subsidy.

Got all that? Simple really, just keep track of your MAGI for two years, and keep several grand in cash handy in case you need to re-pay any excessive credits.

Science Chic wrote: [The fundamental problem is that it comes down to flawed humans running the show, and disengaged humans not minding the store, doesn't matter whether they are in government or the private sector.

OMG you finally get it. I told you you would die a conservative. I see the light at the end of the tunnel. AT least that is what i think I said. I am willing to edit Conservative to libertarian.

Science Chic wrote: rofllol LOL! No, my dear, you're turning into a logical, big-picture, realist scientist.

But gee thanks for saying I'm gonna croak ...

Don't worry, it is a 12 step program.


you are wrong I do not evolve.


[youtube:2wmusuyd][/youtube:2wmusuyd]Funny thing I went to u tube to find something appropriate , put in ape and got lots of Romney hits. KEEP Up the good work, i am sure it is a winning strategy.

Science Chic wrote:

Ryt_Rick wrote: I agree SC, but when in the history of this country has the government bureaucracy been able to wisely manage tax revenue? I understand the problem of rising health insurance, but I also understand that the actual cost of medical care is the driving force in rising costs. how will the government control these costs if it can't seem to control the costs of every other government run program? I guess we'll be paying for thousands of new government employees to fix the problem.

Fundamentally, I don't know the answers to your question of how the gov't can control the medical costs (it's probably too simplistic to assume that correcting one side would balance the other). But when in the history of this country have corporations been able to be counted on to do the right thing, rather than maximizing their profits at the expense of the public? The fundamental problem is that it comes down to flawed humans running the show, and disengaged humans not minding the store, doesn't matter whether they are in government or the private sector.

Okay, all my thoughts from here just go pessimistic so I obviously need to stop now before I proclaim us all doomed. I'm gonna go polish my zombie apocalypse cache of weapons (or do invoices and stare depressingly at my to-do list).
Need chocolate and wine...

You forget that corporations provide jobs and they pay taxes to the government which in turn pays for government programs. The government only makes jobs that cost the taxpayers. Anything created by the government is a massive expense and draw on the country, whether it works or not. Show me any sector of the government that is self sustainable like a corporation and you may have a point.