Obama Care,
It's suppose to be beneficial to the uninsured, yet it seems to me that the cons outweigh the pros.
pros: Tax credits and coverage of a per-existing condition which is suppose to save you money, but only if you qualify for financial assistance. However, families that qualify for financial assistance might have to repay a portion of the cost that they received during the year if they reported less and actually made more money than indicated because of course we can only estimate our earnings. There is a penalty depending on how much make the previous year such as 95$ or 1% which ever is greater for the first year and will increase next year for 2015 to 2% or $325 for not having insurance (I'm sure this will increase yearly).
cons: higher costs to the insured/insuree, less jobs because small businesses will have to pay more to get employees covered, higher copays, and just costing more money than before Obama Care.
In my own opinion I think the penalty is less than one would pay if they had insurance coverage ex. for a single person in excellent health it could cost around $90-$100 a month and this is not including deductibles, out of pocket costs, and copay's, so if you calculate 90 x 12 = $1080 plus fees, therefore I would pay the penalty. (LINK BELOW)
Obama Care
2 comments:
I had no idea that is how this worked out. Its funny, the country is in debt; and magically a new "helpful" hand from the federal government appears. I never really thought about the effect Obamacare would have on small business, I hope in the future there is a possible way to repeal this act. It does not seem fair to me that the government has another segway into the pocket of poverty. But hey, we have no problem funding another war, right?
I totally agree with you on the people paying out of pocket are getting screwed. Thankfully the job I had for the majority of last year included insurance but my current job doesn't amd I recently have been looking into a new insurance policy. After reading this article, I'm with you... It might be worth it to just pay the penalty. I will need to keep researching but this was very helpful! Thanks!
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