The Individual Mandate + Medicare Tax

Published:

Updated:

Do the math how much you are going to pay yearly for having no insurance and how much you pay into the medicare tax.

Looks like you will be paying for uninsured children under the individual mandate too.

Total this up for your working lifetime adjusting for future tax increase and income.

Basically the government is getting a contribution from you to cover medicaid unless you are eligible or become eligible. You are paying it to the government. Right?

Nothing comes for free. Unless you have no income.

Too bad he stole 750 billion from medicare. Grandma and Grandpa will now have less care available.

____________________________________

The Individual Mandate
http://www.obamacarewatch.org/primer/individual-mandate
Penalties

excerpt:
Beginning in 2014, the federal government will impose new fines on citizens and legal residents who do not obtain government-approved insurance.  Those without insurance will pay a tax that is the greater of a flat fee, or a percentage of family income. The flat fee will be phased in over several years.  In 2014, the penalty will be $95 per adult in an uninsured household, increasing to $325 in 2015, then to $695 in 2016, after which it will increase annually in line with consumer inflation.  For uninsured children, the fine will be half the amount applied to uninsured adults.  If greater, households pay 1 percent of their income in 2014, 2 percent in 2015, and 2.5 percent in 2016 and thereafter in lieu of the flat per person fee.

_________________________________________
Medicare Tax and the Unearned Income Medicare Contribution Tax
http://taxes.about.com/od/payroll/a/Medicare-Tax.htm

excerpt:
Additional Medicare Taxes for 2013 and Beyond
Starting in the year 2013, the Medicare tax will be expanded. The tax rate will be increased for higher-income individuals, and the income subject to the Medicare tax will be expanded to include investment income. Technically, this additional tax is called the unearned income Medicare contribution tax, and was enacted as part of the health care reform laws.

Entry #2,917

Comments

Avatar JAP69 -
#1
based on $695 in 2016 for individual mandate tax for no insurance.
family of four
2 adults_____1,390.00
2 kids_______   695.00
total________$2,085.00
Avatar rdgrnr -
#2
Just as predicted by the guy who wrote it - a trainwreck.

Post a Comment

Please Log In

To use this feature you must be logged into your Lottery Post account.

Not a member yet?

If you don't yet have a Lottery Post account, it's simple and free to create one! Just tap the Register button and after a quick process you'll be part of our lottery community.

Register