(CNSNews.com) – In a final regulation issued Wednesday, the
Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance
plan available in 2015 for a family of five 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 family of
five 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 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.
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