Could You Afford $20,000 for Health Care?
According to new rules released last week by the IRS, by 2016 you might have to.
Some conservative news organizations have taken a close look at new rules released by the IRS on Jan. 30 on the new health care regulations and found them wanting … wanting much more, in fact, by 2016.
According to Breitbart.com, the IRS estimates that by 2016 the cheapest Obamacare plan will cost $20,000 for a family of five. That would be for a bronze plan. Other plans offered go up from there to silver, gold and platinum. The IRS used as an example a family of five earning $120,000 a year.
If no family members had insurance, they would be subject to a “shared responsibility” penalty putting them into the Bronze plan. The tax penalty for that is $2,400 a month or $20,000 a year. Read the IRS regulations here. Alert, there is a lot of reading - examples of plans begin on page 56.
Weigh in on these new rules now released. Do you think your family will be able to afford these costs for health care by 2016?