Can someone tell me if income is based on TAXABLE income for the HCR bill?

[mirrera]

I really need to know. If not we would be worse off by a long shot. We have catastrophic health care that in theory protects out house. My sis punched in the numbers at a link from Huffington Post using gross income and we would qualify for an amount that is so unaffordable we would have to pay the fine instead which would cause us to have to drop even our catastrophic health care. As it is we are using our tax money to keep our insurance and it is going up!

Are we a new donut hole or do we get to take at least our standard deductions before HCR calculations?

[safeinOhio]

1. I think it is for adjusted income.

[mirrera]

2. Have you seen that somewhere? That would be great!

I am not sure where to look. I can't imagine it based on gross!

[harun]

3. How could you be worse off? If you have coverage it won't change nor will the cost.

[mirrera]

8. I don't have "coverage"...

I buy my own insurance. Coverage is someone that has benefits through their work. We pay a premium for catastrophic health care. 10,000.00 deductable per person with a cap at two people. That is not health care, that is not health access, that is a form of home insurance.

[Nikki Stone1]

15. If you have an insurance policy that is less than "bronze" you will be required to

get "bronze", which means more out of pocket for you. The subsidy may or may not cover you depending on your level of poverty. Those under the poverty line will get a lot of subsidy (100% for many); those making above the poverty line will have graduated levels of subsidy until it peters out.

The OP cannot afford a "bronze" level policy or she would have one already. The government might help her somewhat, depending on her level of income. But if she's above the income level for the subsidy, she will be required to buy her own policy, bronze at minimum, which she can't afford. And, if she can't afford to buy it, she will be fined. The fine will probably be less than the policy so she will have to continue to pay for her catastrophic policy AND pay the fine to the IRS--a whopping extra tax.

Wait until 2013 when people figure out what this all means.

[harun]

24. I don't think so. If they go to the doctor at all they are paying out of pocket

being they have a 10k deductible. They won't have to pay more than 8% of their income for a policy. I don't see how that could be worse than looking at a 10k deductible.

[mirrera]

26. I don't go to the doctor. But 8% of gross or net?

[mirrera]

25. You said that much better than me! Thank you...

[HuckleB]

4. Do you have that link at HuffPo?

I'd like to check it out. I tried to find something over there, but that site is so unwieldy.

Cheers!

[mirrera]

7. I don't my sister did it. Tomorrow I will look. Washington Post was where it led I think...

Sorry! I will look tomorrow.

[HuckleB]

14. Thanks. I'll take a look at WP.

[kestrel91316]

5. Keep the insurance you already have if it's working for you.

[mirrera]

6. Working for me??? It is catostrophic... $10,000.00 deductible each!

Nothing is "working" for our income level and being self employed. I have been fighting and righting letters and signing petitions for health CARE reform. What I may have on my hands is Insurance reform that actually fines me for not having a basic standard of health insurance. My understanding is that these crazy high deductible plans will be done away with as they should be. They cost the country money because you end up in the emergency room.

I have no problem with that concept. The people that are provided GOOD insurance do not have to change, but people like me that have been kind of "fakin" it will definitely face changes.

They may be great changes if they go by my taxable income, or they may be horrible changes that give me nothing and cost me more. I do not know yet. I am just asking if anyone knows the real scoop. I want medicare. We'll see.

Alan Grayson and Kucinich have it right. I am glad for the win because the GOP sucks and any win makes me happy, but on a purely personal reason i am a little worried. I can barely afford my nothing insurance. If they kept it the same and I had real health care, my struggle would be worth it. I can not pay more.

[safeinOhio]

9. try this one

http://www.washingtonpost.com/wp-srv/special/politics/what-health-bill-means-for-you/?nav=most_emailed

I tried it for 200,000 single self paid and it said no. Plug in yours.

[Nikki Stone1]

10. This is exactly what a lot of us have been saying.

You may not want my support on this since DU has decided I am the anti-Christ, but this is the very reason why I oppose this health insurance giveaway. You are absolutely spot on when you say that you (and others) could be fined for not having good enough insurance, despite the fact that you really can't afford it. You may fall into that group that is not poor enough to get a subsidy but not middle-class enough to be able to afford a policy that they think you should have. You will end up having to pay for both your catastrophic insurance (which sucks) and a fine to the government, that ends up being an additional regressive tax. No wonder the Heritage Foundation loved this so much: you get fined for not making enough money, essentially. And if you can't pay the fine in a timely manner, criminal prosecution, liens, etc. are possibilities.

I hope and pray that you will be able to get the subsidy. But DUers clapping their hands, ecstatic that the GOP got beaten, need to realize that, in the end, people will suffer BECAUSE of this bill.

[truedelphi]

16. Well if you aren't the Anti Christ, why is there a

666 tattoed on your body?

Mine is there because I (also) am the Anti Christ. I have 666 tatts everywhere, and tomorrow I change my home ph number to 1 233 503 2827 (beelzebub's)

You are welcome to call me there any time you want.

[Nikki Stone1]

17. LOL!!!!!

You'd make a much better anti-Christ than I would. Honestly!

:D

[jannyk]

19. No, you are an....

O8)

Truedelphi O8) , Oregone O8) , Saracat O8) All Others that see through this piece of Crap & Me.

We are on the side of the angels

O8) O8) O8) O8) O8) O8)

[kestrel91316]

11. It sounded like maybe you thought you were gonna be forced to drop the policy you had.

You won't. I don't know what to tell you. I haven't had medical insurance, nor a physical, nor a pap smear, nor a mammogram in 5 or 6 years and am 53. I am hoping this law will result in a workable situation for me, because my good luck isn't gonna hold out forever.

[Nikki Stone1]

12. If you haven't been able to afford medical coverage up to this point, what

makes you think you'll be able to afford it now? The subsidies are graduated according to levels of poverty and then they stop. Did you look and see what your personal situation would be before you came out in support of this bill?

[mirrera]

27. I hear you! I am 53 in April and organics and good genes have been my insurance.

I am not trying to diss anything, but we have ALWAYS been on the border of not poor enough, and not rich enough. The help we could have received if my husband and the father of my children had not left me is also not available. There were times when I realized I could have health care for my children if he would leave me. Wow USA USA...

[safeinOhio]

13. found it here

http://www.consumerismcommentary.com/2010/03/21/the-new-health-insurance-law-and-your-money/

look under wealthy people
says adjusted
also doesn't kick in until 2013.

[Nikki Stone1]

18. Why would she look under wealthy people?

..

[safeinOhio]

21. because it states

the figures are based on adjusted income.

[quiet.american]

20. It's based on modified adjusted gross income. Some other points --

If you're at below 400% of the poverty level, there are premium and cost-sharing credits available to help with the cost, which are based on income level and citizenship status, not age. (Currently, this works out to just over $43,000/individual, $88,000/family)
Also, the percentage of your income that can be paid out towards premiums starts on a sliding scale of 2% for the lowest incomes to just under 10% for those at the highest end of the scale.
At the time the penalty goes into effect (2014), you would likely have access to a better plan with more coverage than what you have now, because the Exchange(s) will be up and running.
The first year penalty is $325 in 2014 (the amount was lowered in the reconciliation bill, so once that passes, that's the first year penalty).
If you're under 30, or in a financial hardship position, you're exempt from purchasing full-coverage and can purchase catastrophic-only coverage from the Exchanges, which will be offered as their lowest-cost plans.

Links for direct info on bill:
http://www.speaker.gov/newsroom/legislation?id=0361

[saracat]

22. Gee whiz. We can "purchase" catastrophic. Woowee.

[quiet.american]

23. Wouldn't expect any other kind of reply from you, saracat. nt

[mirrera]

28. Thank You!!! This is sounding hopeful...

[mirrera]

29. DING DING DING! That is what I was looking for! Adjusted Income...

I couldn't remember what it was called I was so upset. That is more reasonable. I am going to try to go to the link and try again.