Written by Elizabeth B. Letchworth
PROlineNews: What is the cost of ObamaCare? ObamaCare, President Obama’s new health care law, has a massive impact on health care costs. ObamaCare’s cost is estimated at up to net cost of $1.36 trillion dollars by 2023.
ObamaCare is paid for through collected taxes, penalties, spending cuts and speculative reforms to the health care industry. The new health care law, has a massive impact on health care costs. ObamaCare’s cost is estimated at up to net cost of $1.36 trillion dollars by 2023.
If you are a middle class American you will pay between 3% and 9.5% of your income whether you like it or not.
Just think about that. The President has handed you a bill for $9,500 if your family earns $100,000 per year.
For many people, that’s the cost of a $200,000 home mortgage. You may forced to decide whether to buy a home or buy ObamaCare insurance.
What will ObamaCare cost me?
Here are some quick bullet points on the cost of ObamaCare:
Everyone has to obtain health insurance by January 1st, 2014 or pay a Shared Responsibility Fee (new tax penalty)
If you don’t have coverage, you can use the new Health Insurance Marketplace to find a private insurance plan.
Cost assistance is based on income.
The average American will pay between 3% – 9.5% of their income on insurance after cost assistance.
Insurance costing 8% of your income is considered affordable insurance for individuals. 9.5% is considered affordable for job based insurance.
A recent study showed the price for a 21-year-old buying a mid-range policy will average about $270 a month.
Check out that website, Data.Healthcare.gov, see what your government estimated cost is for one or more plans for your area.
Elizabeth Letchworth, see more posts here...