NOM BLOG

IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

 

A burden on middle class and young families:

In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.

Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.

The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.

The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.

“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare's mandate to buy insurance. (CNSNews)

4 Comments

  1. Barb Chamberlan
    Posted February 4, 2013 at 2:02 pm | Permalink

    Looks like Obama and friends have redefined the word "Affordable." This will devastate middle income families and small businesses. Of course, that's the intent.

    Surprise!

  2. CRSmith
    Posted February 4, 2013 at 2:38 pm | Permalink

    Barb, I have no idea how I will afford this for my family either. I just don't understand why all of these things are happening. It's like everyone has lost their mind and just gone crazy. How did this happen? I bet there will be a lot of people, even all of the gays in their new marriages that will regret this.

  3. Chris
    Posted February 4, 2013 at 7:21 pm | Permalink

    Actually, thanks to Obama's new rules, I am able to afford insurance. As a graduate student under the age of 26, I am thankfully able to stay on my parents plan for the two and a half years.

  4. Posted February 10, 2013 at 3:30 pm | Permalink

    Ask yourself how much this care cost PRIOR TO Obamacare, and who paid that price. Then you'll have something to talk about.