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87% Of Uninsured Can Avoid
ObamaCare Mandate Tax: CBO

Investor´s Business Daily, by John Merline

Original Article

Posted By:RustMB, 6/6/2014 6:56:54 AM

Almost none of the uninsured will end up paying the ObamaCare mandate penalty, according to an updated analysis by the Congressional Budget Office, which found that 87% will be able to claim an exemption. That exemption rate is higher than the CBO had previously thought, which not only blows a hole in its budget forecast for the law, but also increases the odds of an insurance industry "death spiral." According to the CBO´s latest estimate, out of the 30 million people who will still be uninsured in 2016, just 4 million will end up paying any tax penalty, despite the law´s requirement

      


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Reply 1 - Posted by: blackeagle, 6/6/2014 7:22:58 AM     (No. 9875152)

And don´t forget this little gem:

FTA: "In addition, the law forbids the IRS from using its normal enforcement tools to collect unpaid penalties. Tax experts say the best it can do is withhold the penalty amount from any tax refund due"

Time to adjust your W4 kiddies. The ACA will essentially end the healthcare insurance industry as we know it. Maybe it will get the nod to manage the new Medicaid (which we may all end up on.)

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Reply 2 - Posted by: volksford, 6/6/2014 8:19:58 AM     (No. 9875228)

No surprise here,your everyday midleclass taxpayer will bear the burden. After all, it´s all about reparations in one form or another.

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Reply 3 - Posted by: Whamdbambam, 6/6/2014 9:18:15 AM     (No. 9875309)

Darth Zippy: "All is proceeding as I have foreseen..."

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Reply 4 - Posted by: jalo1951, 6/6/2014 10:03:54 AM     (No. 9875359)

If I had signed up for obamacare (which I will never do) my premium would be $1221 a month with a $10,000 deductible. That´s @25,000 a years before I could collect a dime in any help. As soon as we had our taxes prepared we changed our W4. We should be receiving a very small refund or actually owe a bit. The point is the government will not be getting a penalty out of me.

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Buried in a largely overlooked government audit of the Obama-Care exchanges is a finding that casts still more doubt on the reliability of the 8 million enrollment number commonly cited by the administration and the press. In a section titled "Other Issues," an inspector general report released last week found that the HealthCare.gov marketplace couldn´t show it had been reconciling its monthly enrollment numbers with insurance companies. That´s despite the fact that the law specifically calls for this reconciliation, and the fact that, as the IG report notes, "the federal marketplace obtained the services of a contractor to reconcile enrollment

   

 

  


 
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