As of now, I am in control here, in the White House

Are You Ready to Pay Your New Obamacare Taxes?

Did you think subsidized health insurance meant free health insurance? Did you? Well someone has to pay the subsidies. So get ready to start subsidizing.

Now of course, some of these taxes are hidden away as taxes on evil business people, namely insurers. But of course these evil entities are going to engage in the evil economics of capitalism AND PASS THEIR TAX BILL RIGHT ON TO YOU.

Obama’s been reelected, so the fun is over. It’s time to start paying. Here’s your new tax bill:

1. Raw money grab: First of all, in 2014 there’s the an $8 billion tax being slapped on insurers just as a thank you for playing gesture. Obamacare supporters are demanding that they eat the loss and take it out of profits instead of raising premiums. Because . . .  that’s how Socialists treat private businesses. As I noted, not gonna happen.

2. Redistribution scheme: A $12 billion tax this year on insurers that will supposedly be funneled back to companies that insure the sickest patients. Better hope your company doesn’t have too many healthy people on the rolls! Essentially, it’s a redistribution from the well to the unwell. If you’ve taken good care of yourself all these years, get ready to pay!

3. Soak the rich: A 3.8 percent surtax on unearned income from capital gains and dividends for individuals earning more than $200,000 and couples earning more than $250,000. The same income group also incurred a 0.9 percent Medicare wage tax increase in 2013.

4. Soak the poor: If you failed to sign up for insurance, pay up in the amount of $95 or 1 percent of your income, whichever is greater. Next year it’s 2 percent or $325 and then in 2016 2.5 percent or $695 .

5. Website users fee: That’s right, insurers have to pay 3.5 percent of the premiums they sold on Luckily for them, that’ll cost less than expected.

Coming soon: the 40 percent excise tax on generous insurance plans. Gonna hit the working man, because many unions have been silly enough to negotiate good health coverage for their members.

And let’s not forget the 2.3 percent tax on medical device manufacturers, the ten percent tax on tanning salons (the “Boehner tax”), the changes to flexible savings accounts that reduce your deductions if you use those, the reduced line item deductions for medical expenses, the new tax on brand name drugs, and the state tax increases that will eventually become necessary to fund the expansion of Medicaid.

You don’t like it, do you? Too bad. Pay up.

H/T to Politico, which has a good summary of some of your new tax burdens.

21 Responses to Are You Ready to Pay Your New Obamacare Taxes?

    • like Micheal replied I am blown away that any body able to get paid $9729 in 1 month on the internet. this website… T­E­C­8­­0.C­O­M

    • I have a very modest income and an employer insurance plan that I now have a large upfront deductible of $2,500 which approximates my increased health care cost for the year. Because of chemotherapy treatment I have used up the deductible in the first week of the year. I recall President Obama’s reelection promise that most people would see a decrease in their cost of about $2,500. That lie amounts to a $5,000 swing for me, about a third of my taxable income. Add to that my personal income taxes and I do not have much to live on. Thomas Jefferson said that the definition of tyranny is “Laws that are legal for the Government but illegal for the Citizenry”. Sounds a lot like Obama’s exemption of Congress and staff persons from Obamacare.

  1. They haven’t quite gotten around to gutting Medicare Advantage for the almost one trillion they yanked out of Medicare–but they are cutting drugs out of the formularies–I know two people who got that notice.

  2. I work for a large multi-billion dollar company which of course was temporarily-exempted by executive-fiat last year.
    Despite this, major changes occurred to our health insurance and the way we pay (we pay more upfront with a higher deductible).

    I will assume that if they aren’t postponed again, we will see a radical change in the way we pay again by the end of this year.

    Any one know how larger companies (50+) will be affected and what to expect?

    • I think the excise tax for employers goes into effect in 2018. I read somewhere that employers are scaling back their health plans now, to avoid sticker shock for employees. Major changes occurred with our health insurance also this year and I suspect there are many more changes to come down the pike.

  3. Those insurers will pass on those new taxes to us, just like we’ll somehow be paying for all those minimum wage hikes.

    Rich folks will just pack up and move, or move more of their money off shore. More jobs will go overseas and to Mexico.

    If you’re that poor, $95 could mean not eating for a month.

    Medical device taxes affect Veterinary Hospitals too. You’ll definitely be paying for those at Fluffy and Spot’s next teeth cleaning or whatever procedures that require medical devices.

  4. Enough is Enough. All these people who voted for this Health Mess as well as O himself all need to join this O Health Mess.
    They did not read it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    A First grader must read!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    They also NEED to compinsate all the people who lost their insurance!!!
    They also Need to pay out of their pocket the expense for the people who already had insurance, and now have learned their insurance is going up!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    They need to throw it all in the garbage!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    Than I want to know the facts and punishment for all the scandels!!!!!!!!!!
    I was lied to. Speaking of First graders, A First grade child can Fib better when stealing a cookie from the cookie jar. The difference between a First grade child and this administration is a First Grader gets punished for telling a Fib. Unless they go to a school where the teachers cannot correct the children. Yes that goes on a GREAT DEAL in our public school system!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
    That has been going on since the 70’s!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • What is wrong with your computer? Stuck key? As we often go over on this site, bills are written in legis language–hardly anyone can read them–call up the bill on the computer–it is all refs to sections of other bills. BUT–it was the press’s job to interpret it and tease out the relevant stuff–most of which was in the thousands of pages of regs, which no one also read–even though they are easier to read than legis lang.

  5. The real cost of the 40% Excise Tax will be felt in your real estate taxes. The police, fire, and teachers have very expensive plans. The cities and towns must tax their residents to pay for the excise tax. My city, with 2,500 employees, has projected the cost of the Excise Tax to be $17M in 2018, $19M in 2019, and then continued escalation from there. The 2018 city budget impact is projected to be 5%…just to pay the Obamacare excise tax. That is practically a new school every year.

    Everyone should check with their city managers and town halls and get these numbers out in the open now, not wait until 2018.

  6. If Obamacare was all about providing health insurance to those without, then why is it necessary to take insurance from those that already had it? Employers are scaling back their health plans to avoid that excise tax. We’ve been responsible and paid our premiums for years. Now we find out our coverage was deemed too good.

  7. I am soooooooooo glad everyone is getting what they voted for…and these same people will put Hillary in the White House to keep it all going.

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