Obamacare Is the Reason That Millions of Americans Cannot Retire
by Dave Hodges, The Common Sense Show
The elephant in the room is healthcare. The American middle class is in extreme danger because of Obamacare. Obamacare will be the reason that many will never be able to retire or even to live to a ripe old age.
Will Obamacare Be Repealed?
Millions hold out hope that Obamacare will just go away. Could that happen?
The big challenge to Obamacare was the constitutional issue of making participation mandatory and the Supreme Court voted 5-4 in favor of the mandate to force people to pay a penalty for non-payment. As an aside, since when does an entity have to force someone to participate in a program if it is that good?
The other source that promised hope that Obamacare could be stopped is in Congress. The House of Representatives has voted over 30 times to get rid of Obamacare, but it is just a symbolic gesture because they know that it will never pass the Democrat-controlled Senate. And if by some miracle the repeal of Obamacare did pass the Senate, Obama would veto the bill and a two-thirds override would never happen. Obamacare is here to stay.
How Mandatory Is Obamacare?
Corporate friends of the President, such as the employees at General Electric and McDonalds will not be forced to participate. The agency which will enforce the penalty phase of Obamacare, the IRS, was recently issued an exemption from participating as well. In short, if your corporation donated heavily to Obama’s re-election campaign, an exemption to the mandatory phase of Obamacare has been issued. For everyone else, tough luck.
The most incredulous aspect of Obamacare enforced compliance is that the mandatory provision does not include the legislators who imposed this monstrosity upon us, namely, the Congress. Are you mad yet? Well, we are just getting started.
Obama Promised We Could Keep Our Insurance
As with most things coming out of this President’s mouth, his promise that we could keep our insurance was only partially true. Because of new federal restrictions, insurance providers will no longer be offering the exact same plan that you now have. Some of this is due to the fact that Obamacare mandates a certain level of quality and a certain number of services to be offered in their insurance packages. Therefore, if your insurance company doesn’t want to bear the increased costs of complying with the Obamacare law, your plan will change and you can bet that your cost will rise dramatically.
The most dramatic aspect of Obamacare, as it relates to maintaining present coverage, is that if you have a life-change event, you will be mandated to be entered into Obamacare against your will. Life-change events include, but are not limited to, marriage, becoming a parent, changing jobs, getting divorced and many more.
Obamacare Will Dramatically Drive Up Taxes
Obamacare mandates the imposition of 19 new taxes which have never existed before including the tax on a home sale which really has nothing to do with healthcare. And if you use an indoor tanning booth, expect to pay a 10% tax.
What About Chronic Health and Pre-Existing Conditions?
It appears that the President originally planned to make good on his promise to not allow treatment exemptions for pre-existing conditions and chronic conditions. However, the federal funds which were to be used to reimburse the state exchanges have already dried up and rate increases are in the works.
What About Cost?
Obama has consistently stated that under Obamanomics, families with incomes under $250,000 would not experience tax increases and would also see their medical costs decline. That statement is a bold-faced lie!
Under Department of Health and Human Services poverty level guidelines. If you’re a single earning worker making $44,680, or a couple earning a mere $60,520, or a family of four earning a modest income of $92,200, Obama eliminates your subsidy from the government for lower health costs. I do not mean to speak down to anyone, but do you realize that a couple making $60,520 per year is the equivalent of two fast food jobs? These are very modest incomes and the cost aspect of Obamacare should be raising red flags for all middle class income families.
The Kaiser Foundation published an ObamaCare Cost Calculator for you and your family after subsidies. Please be aware this is a basic estimate for the cost of a “Silver plan” (the second tier plan, as opposed to the basic “Bronze plan” on the Exchange). Also note, the total cost is greatly affected by “regional cost factor” (increasing or decreasing the premium by as much as 20%). Yes, Virginia, there are separate plans, consisting of Bronze, Silver, Gold and something called the Cadillac plan. However, there is an absence of information of what each level of the Obamacare plan entails in terms of cost and treatment. One thing is clear, when the health plan is divided up into differing levels of care and cost, there is indeed a problem because it is apparent that people will not be treated equally under Obamacare.
For a family of four with two dependent children and a $100,000 income, Obamacare insurance costs are nearly $10,000 per year. Such a family could have expected to pay about $400 per month under existing plans such as United Health Care. Under Obamacare, the cost more than doubled.
For the same family listed above making $150,000 per year, they will pay almost $14,000 per year or 350% more than they would expect to pay in today’s health insurance market. This is obviously why the corporate friends of Obama are seeking exemptions from participation. And for those who seek their own exemption through non-participation, they will be fined 2.5% of gross adjusted income and the amount will go up with each successive year that they refuse to participate.
The aforementioned numbers are the government’s numbers as parroted by Kaiser. In other words, these rates represent the best case scenario. For those of us in the middle and upper middle class, Obamacare represents why most of us will never retire because we will be working to pay off our Obamacare debt.