Quote:
Originally Posted by dreambeliever128
I talked to my sister today. She has 2 daughters that are single Mom's and their kids are already on gov. insurance. It's called Medicaid. I am glad they are able to be on it for them. My thing is if we already have Medicaid, what have they got to brag about. More Medicaid. LOL
Ada
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Ada -
The bill(s) offer significant low income subsidies to purchase "real insurance" that is much better than Medicaid. I believe the cut off line is 125% of the federal poverty line, but it may be higher in sime circumstances. That said, it's still not completely free, but it's going to be significantly more affordable.
This is by far the most expensive part of the legislation and is paid for by a 1% surcharge on those with an adgusted gross income between $350,000 and $500,000, 1.5% between $500,000 and a million, and
5.4% on the balance of AGI's over a million,
effective January 1, 2011, with the 1% and 1.5% marginal rates to rise to 2% and 3%, respectively,
effective January 1, 2013. [See, H.R. 4872, Reconciliation Act of 2010 (Reported in House), Sec. 441, SURCHARGE ON HIGH INCOME INDIVIDUALS, amending IRC Sec. 59, availabile at
http://thomas.loc.gov by inputting "H.R. 4872" when prompted for "bill number."]
Now that's a tax incease! Except technically it's not, because the surcharges don't take effect if certain benchmarks for federal healthcare savings are met, based upon a complicated formula in the proposed statute.
So there's a reason the Republican Party doesn't like the bill, to say nothing of the requirement that employers with over 50 employees provide health insurance by 2014. Not a hit with the Chamber of Commerce either.
Mike