Pay close attention to your upcoming health insurance statements.
The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills.
Most insurers aren’t advertising the ObamaCare taxes that are added on to premiums, opting instead to discretely pass them on to customers while quietly lobbying lawmakers for a break.
But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.”
The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.
And don't forget the new medical device tax, that will be passed on to you.
And remember your ability to deduct medical cost on your yearly income tax return if you reached certain percentages of cost versus gross adjusted salary. That's increasing too.
Americans are currently allowed to deduct expenses that exceed 7.5 percent of their annual income. The threshold jumps to 10 percent under ObamaCare, costing taxpayers about $15 billion over 10 years.
Of course President Obama is so worried about the suffering middle class. Not so much. There are a lot of the middle class experiencing the sticker shock of HIGHER premiums, higher than the current policies that they have/had.
The prices of exchange plans have shocked many shoppers, especially those who had plans canceled because they did not meet the ACA coverage requirements. But experts are not surprised.
“The ACA was not designed to reduce costs or, the law’s name notwithstanding, to make health insurance coverage affordable for the vast majority of Americans,” says health care consultant Kip Piper, a former government and insurance industry official. “The law uses taxpayer dollars to lower costs for the low-income uninsured but it also increases costs overall and shifts costs within the marketplace.”
And there are more taxes and increases coming. Go poking around on the interwebs and see what happens if you are lucky enough to have an employer that can afford to offer you a "Cadillac Plan" at a company subsidized rate. You'll be paying a special tax on that plan soon.
The ACA is from the smartest president ever and don't let them fool you. They know exactly who is going to bear the brunt and expenses of this law. Class inequality will eventually be a thing of the past. We'll all be relying on the government for our survival. Merry Christmas and A Happy Expensive New Year from the Obama administration.
Meanwhile, median income has dropped about $2400 since 2009... that's less buying power already, then add on the new ACA costs, then just hope businesses don't start laying people off or cutting hours when they start feeling the ACA next year. The perfect storm is forming.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
