The Orcas Eagle Forum has an evening planned examining the Affordable Care Act. Sept 13, 6PM Orcas Firehall.
We would be glad to welcome you there if you can come.
I learned a bit about the Act today and thought I’d share. This is a true/today story. I did not make this up.
A freind of mine today said she was going to have to figure out how to make less money next year. Her current policy is being discontinued in December. She is going to have to find Health Care Insurance somewhere else.
So she explored the Washington State Health Care exchange program at http://wahealthplanfinder.org/. Click on the link below the Calculator on the lower right (or just go straight to the calculator here –> http://tinyurl.com/mwnrlte)
I was shocked at her results, so I decided to run my own numbers. http://tinyurl.com/mwnrlte
I ran my numbers and found that if my wife and I make $62,000 we would be paying $491/mo with the government subsidizing $784/mo for a total cost of $1,275. (see my PS at end)
I currently pay $551/mo with Group Health. (Self employed. 1 child still at home.) According to the calculator I’ll be saving money ($60/mo), but why is the premium actually more? Why is the Government paying anything at all? I am doing fine (wish it was less) paying my current premium. Why should YOU help me out.
BUT get this, if we make $63,000 look out. !!!! The government does not pay at all. I now have a premium of the full $1,275. I was saving $60/mo, now I’m paying $724/mo more!!!!!!
SO I HAVE to figure out how to make less then $63,000. OR make $8,688 ($724×12) more to pay the extra cost of making more than $63,000. So we have to make $71,688 ($63,000 + $8,688) just to break even. That is just over 7 weeks (more the a month) of work to make up for the increased cost of making more money.
And I have to pay for stuff in my “new” plan that I don’t want. What’s more I have to pay for stuff in YOUR plan because while you are subsidizing my plan I am subsidizing yours. So my taxes are most likely will go up to help you out.
Please take a look at http://www.wahealthplanfinder.org/calculator/index.html
Of course I could always just pay the penalty and not have insurance. I did not intend to write a complicated email so if you are interested look here –> http://tinyurl.com/b9qv69f
PS: My son just got home and in talking this over with him I realized that the “subsidy” is a “tax credit”. That means I have to put out the $1,275/mo upfront (which I absolutely cannot afford) and then I won’t have to pay as much tax.
I think I’ll be sick but I can’t afford that so I’ll have to figure something else out.
This is real folks………