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View Diary: Christie Shoots Self in Foot - Rejects Obamacare Medicaid Expansion for New Jersey (164 comments)

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  •  Yes, it will become that big a deal (4+ / 0-)
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    ericlewis0, artmartin, puakev, Lying eyes

    After people find out all the differences Obamacare will make when it comes on line between 2014 and 2020.

    Premiums: If you are up to 150 % of poverty your healthcare will cost will be subsidized so you pay less than 4%, less than 200% its less than 6.3% and less than 200% its less than 8.05 5. Finally at 300% of poverty it levels off at 9.5%

    In dollars that means poor people are going to pay up to about $1/day for healthcare and rich people up to $10/day

    At 133% of poverty your premiums are 3% of income  so for an income of $31,900 you pay $992 a year with your premium cost reduced $10,345 and subsidized an additional    $5,040 so that you will receive in annual benefits just in premium reductions about half of your annual income with that benefit gradually being reduced as your income increases up to about 400% of poverty where you are still picking up almost $4,000 a year.

    Small businesses with up to 25 employees can receive up to a 50% premium subsidy for their share of employee healthcare.

    To finance part of the new spending, spending and coverage cuts are made to Medicare Advantage, the growth of Medicare provider payments are slowed (in part through the creation of a new Independent Payment Advisory Board), Medicare and Medicaid drug reimbursement rates are decreased, and other Medicare and Medicaid spending is cut.
    As a poor elderly retired person my part D prescription costs are presently picked up by medicare first and then medicaid saving me a a substantial amount of money. I expect to see this reduced, but not onerously.
    Revenue is increased from a new $2,500 limit on tax-free contributions to flexible spending accounts (FSAs), which allow for payment of health costs.[129]

    Members of Congress and their staff are only offered health care plans through the exchange or plans otherwise established by the bill (instead of the Federal Employees Health Benefits Program that they currently use).[130]

    A new excise tax goes into effect that is applicable to pharmaceutical companies and is based on the market share of the company; it is expected to create $2.5 billion in annual revenue.[106]

    Health insurance companies become subject to a new excise tax based on their market share; the rate gradually rises between 2014 and 2018 and thereafter increases at the rate of inflation. The tax is expected to yield up to $14.3 billion in annual revenue.[106]

    The qualifying medical expenses deduction for Schedule A tax filings increases from 7.5% to 10% of adjusted gross income (AGI).[131]

    Consumer Operated and Oriented Plans (CO-OP), which are member-governed non-profit insurers, entitled to a 5-year federal loan, are permitted to start providing health care coverage.[132]

    The CLASS Act provision would have created a voluntary long-term care insurance program, but in October 2011 the Department of Health and Human Services announced that the provision was unworkable and would be dropped.[133] The CLASS Act was repealed January 1, 2013.[134]

    Effective by January 1, 2018: All existing health insurance plans must cover approved preventive care and checkups without co-payment.[41]

    Live Free or Die --- Investigate, Incarcerate

    by rktect on Sat Jun 29, 2013 at 02:38:34 AM PDT

    [ Parent ]

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