Marcus Aurelius
07-31-2013, 10:49 AM
http://www.reviewjournal.com/opinion/editorials/individuals-cant-afford-obamacare
Come Jan. 1, all Americans must purchase health insurance or pay a penalty tax of $95 or 1 percent of their adjusted gross income, whichever is higher. The vast majority of insured Nevadans have their coverage through their employers or unions. Just 15.4 percent of the state’s insured currently purchase their coverage through the individual market.
That figure will increase, and not simply because the mandate takes effect in five months. An untold number of employers are expected to drop coverage for their workers as a result of premium increases. Because President Barack Obama has delayed for one year the Affordable Care Act’s employer mandate — a penalty tax on companies that don’t offer medical benefits but have at least 50 full-time-equivalent employees — businesses now have an incentive to dump their insurance.
The rates won’t be finalized until Sept. 1, and those who purchase coverage through the exchange can qualify for tax credits to offset some of those costs. But for those working part-time and temporary jobs to get by, and for the young and healthy, even subsidized premiums will be unaffordable. They’ll pay the penalty tax and remain uninsured.
Last month, researchers from Harvard University and the City University of New York estimated that about 300,000 Nevadans will remain uninsured after ObamaCare takes effect, a figure that matches the state’s own projections. Nationally, the researchers estimate that about 30 million Americans will decline coverage.
Repeal and replace this policy disaster.
Come Jan. 1, all Americans must purchase health insurance or pay a penalty tax of $95 or 1 percent of their adjusted gross income, whichever is higher. The vast majority of insured Nevadans have their coverage through their employers or unions. Just 15.4 percent of the state’s insured currently purchase their coverage through the individual market.
That figure will increase, and not simply because the mandate takes effect in five months. An untold number of employers are expected to drop coverage for their workers as a result of premium increases. Because President Barack Obama has delayed for one year the Affordable Care Act’s employer mandate — a penalty tax on companies that don’t offer medical benefits but have at least 50 full-time-equivalent employees — businesses now have an incentive to dump their insurance.
The rates won’t be finalized until Sept. 1, and those who purchase coverage through the exchange can qualify for tax credits to offset some of those costs. But for those working part-time and temporary jobs to get by, and for the young and healthy, even subsidized premiums will be unaffordable. They’ll pay the penalty tax and remain uninsured.
Last month, researchers from Harvard University and the City University of New York estimated that about 300,000 Nevadans will remain uninsured after ObamaCare takes effect, a figure that matches the state’s own projections. Nationally, the researchers estimate that about 30 million Americans will decline coverage.
Repeal and replace this policy disaster.