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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Uninsured could be fined $2,500 - $12,240
Posted by:
Lois Lerner
()
Date: July 24, 2014 07:25PM
Uninsured could be fined almost $2,500
By Ferdous Al-Faruque - 07/24/14 07:18 PM EDT
The Internal Revenue Service said Thursday individuals who fail to get health insurance this year will be fined a maximum of $2,448 and families with five or more members can be fined up to $12,240.
Under the Affordable Care Act’s individual mandate people are either required to obtain health insurance or risk a tax penalty from the IRS.
People who don’t buy health insurance plans that meet the ACA’s minimum standards are fined 1 percent of their annual household income if they make more than $19,650. However if they make less, they are fined a flat rate of $95 annually or are not fined if they make less than $10,150.
The IRS released documents Thursday using the Bronze level plans to calculate how much individuals should be fined. Insurance plans under the Bronze level meet the minimum requirements to comply with ObamaCare
While they have the lowest premium rates, they also have the highest out-of-pocket costs on the healthcare exchanges.
Under Bronze level plans insurance companies are required to cover 60 percent of an individuals healthcare costs while the individual covers the remaining 40 percent.
The IRS calculates the national monthly average premium for Bronze level plans available through the healthcare exchanges this year is $204 per person. Therefore people who did not buy health insurance could be fined up to that amount for every month they lacked insurance, which comes to $2,448 dollars over the course of one year.
A similar calculation by the agency determined the national monthly average premium for such plans is $1,020 for families of five or more people.
By Ferdous Al-Faruque - 07/24/14 07:18 PM EDT
The Internal Revenue Service said Thursday individuals who fail to get health insurance this year will be fined a maximum of $2,448 and families with five or more members can be fined up to $12,240.
Under the Affordable Care Act’s individual mandate people are either required to obtain health insurance or risk a tax penalty from the IRS.
People who don’t buy health insurance plans that meet the ACA’s minimum standards are fined 1 percent of their annual household income if they make more than $19,650. However if they make less, they are fined a flat rate of $95 annually or are not fined if they make less than $10,150.
The IRS released documents Thursday using the Bronze level plans to calculate how much individuals should be fined. Insurance plans under the Bronze level meet the minimum requirements to comply with ObamaCare
While they have the lowest premium rates, they also have the highest out-of-pocket costs on the healthcare exchanges.
Under Bronze level plans insurance companies are required to cover 60 percent of an individuals healthcare costs while the individual covers the remaining 40 percent.
The IRS calculates the national monthly average premium for Bronze level plans available through the healthcare exchanges this year is $204 per person. Therefore people who did not buy health insurance could be fined up to that amount for every month they lacked insurance, which comes to $2,448 dollars over the course of one year.
A similar calculation by the agency determined the national monthly average premium for such plans is $1,020 for families of five or more people.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
johnny ringo
()
Date: July 24, 2014 07:34PM
How will they know whether or not you have health care coverage?
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
1099-I
()
Date: July 24, 2014 07:57PM
johnny ringo Wrote:
-------------------------------------------------------
> How will they know whether or not you have health
> care coverage?
Same way that they know everything else - Your SSN and big-ass databases.
No match and the bells go off.
-------------------------------------------------------
> How will they know whether or not you have health
> care coverage?
Same way that they know everything else - Your SSN and big-ass databases.
No match and the bells go off.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
Stabitha
()
Date: July 24, 2014 08:19PM
If they cant afford health insurance how does the IRS expect them to pay a fine?
This country is like a dog chasing it's tail.
This country is like a dog chasing it's tail.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
Or else
()
Date: July 24, 2014 08:35PM
Stabitha Wrote:
-------------------------------------------------------
> If they cant afford health insurance how does the
> IRS expect them to pay a fine?
>
> This country is like a dog chasing it's tail.
Makes no difference to them. Just like it makes no difference whether you can afford to pay your taxes. If you have income over $19K, then the law says you can afford it and you're forced to buy it. If you don't buy it, then you're fined the approximate amount of what they estimate that it would cost you.
-------------------------------------------------------
> If they cant afford health insurance how does the
> IRS expect them to pay a fine?
>
> This country is like a dog chasing it's tail.
Makes no difference to them. Just like it makes no difference whether you can afford to pay your taxes. If you have income over $19K, then the law says you can afford it and you're forced to buy it. If you don't buy it, then you're fined the approximate amount of what they estimate that it would cost you.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
Stop Please
()
Date: July 25, 2014 04:43AM
Or else Wrote:
-------------------------------------------------------
> Stabitha Wrote:
> --------------------------------------------------
> -----
> > If they cant afford health insurance how does
> the
> > IRS expect them to pay a fine?
> >
> > This country is like a dog chasing it's tail.
>
>
> Makes no difference to them. Just like it makes
> no difference whether you can afford to pay your
> taxes. If you have income over $19K, then the law
> says you can afford it and you're forced to buy
> it. If you don't buy it, then you're fined the
> approximate amount of what they estimate that it
> would cost you.
You know you don't have no insurance and income is less than 2 dollars a year.
-------------------------------------------------------
> Stabitha Wrote:
> --------------------------------------------------
> -----
> > If they cant afford health insurance how does
> the
> > IRS expect them to pay a fine?
> >
> > This country is like a dog chasing it's tail.
>
>
> Makes no difference to them. Just like it makes
> no difference whether you can afford to pay your
> taxes. If you have income over $19K, then the law
> says you can afford it and you're forced to buy
> it. If you don't buy it, then you're fined the
> approximate amount of what they estimate that it
> would cost you.
You know you don't have no insurance and income is less than 2 dollars a year.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
Big business
()
Date: July 25, 2014 07:16AM
"Why is there no huge database system to catch all these illegal immigrants working and not paying taxes? Why is there not a system to catch the employers who hire illegals illegally and nail their crooked business asses to the wall?"
Corporations had that killed or "delayed"
They want the cheap labor and payoff politicains to keep it this way.
Corporations had that killed or "delayed"
They want the cheap labor and payoff politicains to keep it this way.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
libs hate America.
()
Date: July 25, 2014 07:25AM
Um, why post this now? This is old news. Democrats will stop at nothing to fleece the poor of every last cent they have.
I'd love to see the look on anti American Gerrymanderer2's face when the tax man comes and takes him away. Do they have padded cells in the IRS prison?
I'd love to see the look on anti American Gerrymanderer2's face when the tax man comes and takes him away. Do they have padded cells in the IRS prison?
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
Henro
()
Date: July 25, 2014 08:45AM
This is why we need single payer.
Well off folks who can afford "private insurance" can have at it.
Even if it sucks it would be better than the over priced we charge what we want and don't tell you system we have now.
Well off folks who can afford "private insurance" can have at it.
Even if it sucks it would be better than the over priced we charge what we want and don't tell you system we have now.
Re: Uninsured could be fined $2,500 - $12,240
Posted by:
URA Dumbass
()
Date: July 25, 2014 09:09AM
Stabitha Wrote:
-------------------------------------------------------
> If they cant afford health insurance how does the
> IRS expect them to pay a fine?
For those who 'cant afford health insurance' there are subsidies.
For those who choose not to buy heath insurance there are fines & penalties.
URA Dumbass.
-------------------------------------------------------
> If they cant afford health insurance how does the
> IRS expect them to pay a fine?
For those who 'cant afford health insurance' there are subsidies.
For those who choose not to buy heath insurance there are fines & penalties.
URA Dumbass.