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Old April 6th, 2010, 01:07 PM   #1
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Default Health insurance bill, savings

Here are 13 things in the health insurance bill, you know the one that gives you free insurance and is going to save everybody money.


1. A new 10% excise tax on indoor tanning services on services provided after June 30, 2010.

A new tax always saves you money

2. The new law gives small firms tax credits as incentives to provide coverage, starting this tax year. Employers with 10 or fewer workers and average annual wages of less than $25,000 can receive a credit of up to 35% of their health premium costs each year through 2013. The credit is phased out for firms larger than that and disappears completely if a company has more than 25 employees or average annual wages of $50,000 or more. Beginning in 2014, small firms that sign up with one of the health exchanges to be created can receive a credit of up to 50% of their costs.

A tax credit is great that means you only have to spend the other 65%

3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.

Hahahahaahah More taxes for everybody that gets a W-2


4. Elimination of a deduction employers now take for providing Medicare Part D prescription drug coverage to their retirees to the extent that the federal government subsidizes the coverage. This will not take effect until 2013.

Elimination of a tax deduction, that,s a savings

5. Doubling the penalty for non qualified distributions from health savings accounts, to 20%, beginning in 2011.

Double penalty.....isn;t that kinda like double the cost of something


6. A limit on the amount that employees can contribute to health care flexible spending accounts to $2,500 a year, but the cap won't take effect until 2013.

Limit the amount the employer can give to the employee, I guess the employer is saving some money here.

7. A ban on using funds from flexible spending accounts, health reimbursement arrangements or health savings accounts for the cost of over-the-counter medications, starting in 2011.

Now you can use your money ...HAahhahhahahahaa

8. Imposing a 0.9% Medicare surtax on wages of single taxpayers earning more than $200,000 a year and couples earning over $250,000, starting in 2013, as well as a 3.8% Medicare tax on their unearned income. The new law defines unearned income as interest, dividends, capital gains, annuities, royalties, and rents. Tax-exempt interest won’t be included, nor will income from retirement accounts.

Additional tax...more savings

9. A hike in the 7.5% floor on itemized deductions for medical expenses to 10%, beginning in 2013. But taxpayers age 65 and over are exempt from the cutback through 2016.



10. A new 40% excise tax, beginning in 2018, on high-cost health plans, levied on the portion that exceeds $10,200 for individuals and $27,500 for families.

A new tax. Is that like a new savings

11. A new tax on individuals who don't obtain adequate health coverage by 2014. The tax is be phased in over three years, starting at the greater of $95, or 1% of income, in 2014, and rising to the greater of $695, or 2.5% of income, in 2016.

Another new tax. Another new savings?

12. Providing a refundable tax credit, once the individual mandate takes effect in 2014, to help low-income folks purchase coverage. To be eligible, a person's household income must be between 100% and 400% of the federal poverty level, generally around $11,000 to $44,000 for singles and $22,000 to $88,000 for families.


13. A nondeductible fee charged to businesses with 50 or more employees if the firms fail to offer adequate coverage. The fee will equal $2,000 times the number of employees, though it won’t count the first 30 workers in that calculation.

A fee, that always is a money saver.


This bill sucks and you all have to pay for it Hahhahahahahahahahahaahaha
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Old April 6th, 2010, 09:49 PM   #2
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Not me. I am going to stay unemployed and let you sucker pay my way.
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Old April 7th, 2010, 09:37 AM   #3
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3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.


This one is going to be a huge revenue generator. Does anyone know how much an employer pays for health insurance? I know it depends on the plan, but i am looking for an overall average.

2011 tax season is going to hit people hard, with these and the Bush tax cuts expiring. If a family makes 100K a year and has 8K in health insurance benefits they now have to claim, that is $3,000 they have to pay for the tax cuts expiring and making 100K puts them in the 28% tax bracket, they will have to pay $2,240 for having to claim the health insurance. That is $5,240 a year out of that family's pocket.
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Old April 7th, 2010, 10:15 AM   #4
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But this isnt the government trying to put money in their pockets.
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Old April 7th, 2010, 10:16 AM   #5
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Quote:
Originally Posted by TJJEEP View Post
3. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.


This one is going to be a huge revenue generator. Does anyone know how much an employer pays for health insurance? I know it depends on the plan, but i am looking for an overall average.

2011 tax season is going to hit people hard, with these and the Bush tax cuts expiring. If a family makes 100K a year and has 8K in health insurance benefits they now have to claim, that is $3,000 they have to pay for the tax cuts expiring and making 100K puts them in the 28% tax bracket, they will have to pay $2,240 for having to claim the health insurance. That is $5,240 a year out of that family's pocket.
thats a savings right?

obama sucks ass.
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