This article is based on three stories–one at Hot Air posted yesterday, one at the Wall Street Journal posted Thursday, and one posted at CNS News on Thursday. The bottom line on the Hot Air and CNS News stories is that the cheapest health care plan for a family under Obamacare will cost $20,000 per year. The bottom line on the Wall Street Journal story is that everything we were told about Obamacare by President Obama has turned out to be not true.
The Wall Street Journal article lists four major promises that have been broken in Obamacare:
1. Lower health-care costs
2. Smaller deficits
3. Preservation of existing insurance
4. Increased productivity
Please follow the link to the Wall Street Journal article to see the details of each broken promise.
The Obamacare insurance has different levels of plans. CNS News reports on the bronze plan–the lowest level. The article reports:
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare–after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
The article at Hot Air points out:
Using the conditions laid out in the regulations, the IRS calculates that a family earning $120,000 per year that did not buy insurance would need to pay a “penalty” (a word the IRS still uses despite the Supreme Court ruling that it is in fact a “tax”) of $2,400 in 2016.
The best that we can hope for is that Obamacare will collapse under its own weight and we can find a better way to help everyone get health insurance.