Obama Care Facts
Here are some disturbing facts about the "healthcare reform" law known as Obamacare. These facts are mostly taken from MAIN STREAM news outlets like CNN and the NY Times however we'd like to thank CS monitor for thieir diligent efforts and contribution.
MORE SPENDING & MORE TAXES
$940 billion: The estimated cost of health care reform over the next 10 years.
40% Tax: A 40 percent tax would be imposed on insurance companies providing “Cadillac” health plans valued at more than $10,200 for individuals and $27,500 for families. The tax would kick in starting in 2018.
3.8% Medicare Tax: A 3.8% surcharge would be imposed on investment income -- INCLUDING HOME SALE -- for individuals making over $200,000 and couples making over $250,000. This tax increase is estimated to bring in $210 billion between 2013 and 2019.
$695 or 2.5%: The potential amount of a fine if you fail to purchase health care insurance. Starting in 2016, Individuals would be required to purchase coverage or face a fine of up to $695 or 2.5 percent of income, whichever is greater. The plan includes a hardship exemption for poorer Americans.
50 employees: Companies with more than 50 employees would be required to pay a fee of $2,000 per worker if the company does not provide coverage and any of that company’s workers receives federal health care subsidies. The first 30 workers would be subtracted from the payment calculation.
INCREASE COSTS
COSTS TO SENIORS: $132 billion: Government payments to Medicare Advantage would be reduced by $132 billion over 10 years.
MEDICARE INCREASE: Medicare Part A (hospital insurance) tax rate would be increased by 0.9 percent, to 2.35 percent.
PRESCRIPTION DRUG COST INCREASE: The amount drug manufacturers would pay the US $16 Billion between 2011 and 2019, increasing their cost to do business.
$47 billion: Health insurers would pay $47 billion over the same period.
2.9% excise tax: Medical device manufacturers would pay a 2.9 percent excise tax on the sale of any of their products beginning January 1, 2013.
Tanning Tax: Health care reform establishes a tax of 10 percent on indoor tanning services. This would raise $2.7 billion between 2010 and 2019. As far as we know, getting a tan outside is still free.
Limited Flexibility in Spending Accounts: The maximum amount you can set aside pre-tax for health care costs in a flexible spending account will be reduced from $5,000 to $2,500.
46%: The percentage of Americans in favor of health care reform, according to a Wall Street Journal-NBC News poll.
45%: The percentage of Americans against the bill according to the same poll.
36%: The percentage of Americans who think the bill is a “good idea,” according to the same poll.
Sources:
Health care reform: How House members voted – CNN.com
Highlights of health care compromise bill – CNN.com
Obama Executive Order on Abortion Funding, What health care reform means for your small business – CNN Money, Checking the Math on Health Care – NYTimes.com
Health care reform: How House members voted – CNN.com
Obamacare wins: Now the pain begins
Health care reform bill 101: Who will pay for reform? / The Christian Science Monitor – CSMonitor.com
MORE SPENDING & MORE TAXES
$940 billion: The estimated cost of health care reform over the next 10 years.
40% Tax: A 40 percent tax would be imposed on insurance companies providing “Cadillac” health plans valued at more than $10,200 for individuals and $27,500 for families. The tax would kick in starting in 2018.
3.8% Medicare Tax: A 3.8% surcharge would be imposed on investment income -- INCLUDING HOME SALE -- for individuals making over $200,000 and couples making over $250,000. This tax increase is estimated to bring in $210 billion between 2013 and 2019.
$695 or 2.5%: The potential amount of a fine if you fail to purchase health care insurance. Starting in 2016, Individuals would be required to purchase coverage or face a fine of up to $695 or 2.5 percent of income, whichever is greater. The plan includes a hardship exemption for poorer Americans.
50 employees: Companies with more than 50 employees would be required to pay a fee of $2,000 per worker if the company does not provide coverage and any of that company’s workers receives federal health care subsidies. The first 30 workers would be subtracted from the payment calculation.
INCREASE COSTS
COSTS TO SENIORS: $132 billion: Government payments to Medicare Advantage would be reduced by $132 billion over 10 years.
MEDICARE INCREASE: Medicare Part A (hospital insurance) tax rate would be increased by 0.9 percent, to 2.35 percent.
PRESCRIPTION DRUG COST INCREASE: The amount drug manufacturers would pay the US $16 Billion between 2011 and 2019, increasing their cost to do business.
$47 billion: Health insurers would pay $47 billion over the same period.
2.9% excise tax: Medical device manufacturers would pay a 2.9 percent excise tax on the sale of any of their products beginning January 1, 2013.
Tanning Tax: Health care reform establishes a tax of 10 percent on indoor tanning services. This would raise $2.7 billion between 2010 and 2019. As far as we know, getting a tan outside is still free.
Limited Flexibility in Spending Accounts: The maximum amount you can set aside pre-tax for health care costs in a flexible spending account will be reduced from $5,000 to $2,500.
46%: The percentage of Americans in favor of health care reform, according to a Wall Street Journal-NBC News poll.
45%: The percentage of Americans against the bill according to the same poll.
36%: The percentage of Americans who think the bill is a “good idea,” according to the same poll.
Sources:
Health care reform: How House members voted – CNN.com
Highlights of health care compromise bill – CNN.com
Obama Executive Order on Abortion Funding, What health care reform means for your small business – CNN Money, Checking the Math on Health Care – NYTimes.com
Health care reform: How House members voted – CNN.com
Obamacare wins: Now the pain begins
Health care reform bill 101: Who will pay for reform? / The Christian Science Monitor – CSMonitor.com
Comments
Post a Comment