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Our 20 Facts:
Note - our latest update, point 21, reveals Obama's intention to create another union out of the nearly 21 healthcare providers in this nation.
Our 20 Facts:
Note - our latest update, point 21, reveals Obama's intention to create another union out of the nearly 21 healthcare providers in this nation.
Fact # 1 - If you want protective care such as colonoscopies and mammograms, you have to pay the full annual premium cost up front, at the beginning of each year in addition to your first month's premiums. It is "available to all" but not affordable to all. (9/24/2010)
Fact #2 - all medical devices will be taxed at much higher rates than before ObamaCare, forcing medical costs higher. This is part of a strategy to drive private health care out of business. The alternative? The public option or the so-called "single payer" system !! Under the Public Option, medical device costs will be dictated by the Federal Government. There is the pretense on the part of Obama and Socialist comrades, that the "public option" was abandoned by Obama . . . . . but not really. In the end, years from now (but not more than 8 years), the "public option" will be in place as a de facto result of the deceitful strategies embedded within this law.
Fact #3 - If you as a family making $88,000 annually chooses not to take out insurance, the initial rake of fines will be set at the rate of $695 per family member (including infants) per year. When a family member becomes seriously ill, perhaps years down the road, you can then choose to enroll into the insurance program - but you have to wait for the annual enrollment period. You cannot be refused coverage under that portion of the law requiring coverage of pre-existent illnesses, making this scenario possible: pay the cheaper fines until you become critically ill, then put yourself under coverage and, wala, you have scammed the system and saved thousands.
Fact #4 - Obama and Company added claim to have added "16 million" people to the Medicare rolls while cutting a half trillion dollars ($565 billion to be exact) of Federal funding out of that program. Before doing this, Medicare had accumulated a mandated but unfunded debt of $37 trillion dollars. Please note that most authorities now say that the total number of folks added to the Medicare rolls will be much closer to 37 million rather than 16 million.
Fact #5 - Previous to ObamaCare, insurance companies were required by law to pay spend 65% of premiums collected back into insurance coverage benefit costs. After ObamaCare, that has been raised to 80%, leaving private insurance with a mere 20% to pay for salaries, bonuses, construction costs, taxes, utility costs and all other overhead items . . . . . no room for profit at all.
Fact #6 - ObamaCare prohibits participating companies from limiting benefit costs for an individual. In other words, there is no cap placed on total benefits received. Insurance companies must, also, accept anyone who seeks coverage. The mitigating factor here, is the 15 member "Death Panel," a board of non-medial people who determine what will be covered, under ObamaCare, and what will not be covered. There will be no challenge to their decision, legal or otherwise and no recourse for dealing with complaints. The very young and the very old will be refused specific coverage if the potential cost is extreme. That is a part of the law, despite the claims otherwise. If your illness is covered, there will be no limit to its cost, but, there is the distinct possibility that your illness will be refused for the sake of coverage.
Fact #7 - Before ObamaCare and according to Morningstar Investment Research, the health insurance industry's profitability margin was a low 3.45 ranking the insurance industry at 87th out of 215 US industries. Conclusion: the health insurance industry is not the profit monster Obama and the Class Warfare Mongers want you to believe, and now, he has used groundless fear mongery and class envy to destroy this industry.
Fact #3 - If you as a family making $88,000 annually chooses not to take out insurance, the initial rake of fines will be set at the rate of $695 per family member (including infants) per year. When a family member becomes seriously ill, perhaps years down the road, you can then choose to enroll into the insurance program - but you have to wait for the annual enrollment period. You cannot be refused coverage under that portion of the law requiring coverage of pre-existent illnesses, making this scenario possible: pay the cheaper fines until you become critically ill, then put yourself under coverage and, wala, you have scammed the system and saved thousands.
Fact #4 - Obama and Company added claim to have added "16 million" people to the Medicare rolls while cutting a half trillion dollars ($565 billion to be exact) of Federal funding out of that program. Before doing this, Medicare had accumulated a mandated but unfunded debt of $37 trillion dollars. Please note that most authorities now say that the total number of folks added to the Medicare rolls will be much closer to 37 million rather than 16 million.
Fact #5 - Previous to ObamaCare, insurance companies were required by law to pay spend 65% of premiums collected back into insurance coverage benefit costs. After ObamaCare, that has been raised to 80%, leaving private insurance with a mere 20% to pay for salaries, bonuses, construction costs, taxes, utility costs and all other overhead items . . . . . no room for profit at all.
Fact #6 - ObamaCare prohibits participating companies from limiting benefit costs for an individual. In other words, there is no cap placed on total benefits received. Insurance companies must, also, accept anyone who seeks coverage. The mitigating factor here, is the 15 member "Death Panel," a board of non-medial people who determine what will be covered, under ObamaCare, and what will not be covered. There will be no challenge to their decision, legal or otherwise and no recourse for dealing with complaints. The very young and the very old will be refused specific coverage if the potential cost is extreme. That is a part of the law, despite the claims otherwise. If your illness is covered, there will be no limit to its cost, but, there is the distinct possibility that your illness will be refused for the sake of coverage.
Fact #7 - Before ObamaCare and according to Morningstar Investment Research, the health insurance industry's profitability margin was a low 3.45 ranking the insurance industry at 87th out of 215 US industries. Conclusion: the health insurance industry is not the profit monster Obama and the Class Warfare Mongers want you to believe, and now, he has used groundless fear mongery and class envy to destroy this industry.
updated 10/28/10
Fact # 8 - Beginning January 1, 2011, if you have a medical savings account or a Flexible Spending Account , you will have to get a doctor's prescription to buy aspirin, Aleve, Tylenol, cold/flu medicines, hemorrhoid creams, aspiration or inhalant medication, insect repellant for summers in her backyard and Prevacid for an infrequent case of heartburn and 15,000 other medications. Of course, the idea is to drive you out of your medical savings programs and into a full fledged "public option." Note: This portion of the law was postponed until after 2014.
Fact #9 - In order to pay for ObamaCare, the Dems are planning on eliminating the homeowner's tax deduction on their mortgage interest. As an example of this cost, my wife and I have a 143,000 mortgage on our home. This change in the tax code, will cost us around $2,000 a year in cold hard cash -- and we are on a fixed income. Please note that this is a tax on the middle class, the very people Obama swore not to tax.
Fact # 8 - Beginning January 1, 2011, if you have a medical savings account or a Flexible Spending Account , you will have to get a doctor's prescription to buy aspirin, Aleve, Tylenol, cold/flu medicines, hemorrhoid creams, aspiration or inhalant medication, insect repellant for summers in her backyard and Prevacid for an infrequent case of heartburn and 15,000 other medications. Of course, the idea is to drive you out of your medical savings programs and into a full fledged "public option." Note: This portion of the law was postponed until after 2014.
Fact #9 - In order to pay for ObamaCare, the Dems are planning on eliminating the homeowner's tax deduction on their mortgage interest. As an example of this cost, my wife and I have a 143,000 mortgage on our home. This change in the tax code, will cost us around $2,000 a year in cold hard cash -- and we are on a fixed income. Please note that this is a tax on the middle class, the very people Obama swore not to tax.
Fact #10 - On Jan. 1, 2011, the cuts to Medicare Advantage start kicking in -- $140 billion in lost federal funding. This will limit provisions for dental, eye and comprehensive prescription-drug coverage that these policies provide. It is not known how severe these cuts will be.
Fact #11 - The reform law is also designed to push patients and doctors into HMO-style arrangements called "Accountable Care Organizations." The cooperating doctors will work for the State, essentially, and the patients will do what they are told to do by the 15 member advisory panel. This all begins in 2014.
Fact #12 - This bill will raise more than $500 BILLION in new taxes by raising payroll taxes, fines to businesses, new investment taxes and fees on medical technology companies. (all medical equipment will be taxed in order to help pay for this monster). Note: as of today, November 6, 2013, this estimate is now set at nearly one trillion dollars over the course of the next ten years . . . . to the taxpayer.
Fact #13 - beginning in 2014, virtually all Americans will be forced to buy insurance or pay a fine.
Consider Governor Palin's warning from her Facebook AND the American Thinker comments that follow:
We must step up and engage in this most crucial debate. Nationalizing our health care system is a point of no return for government interference in the lives of its citizens. If we go down this path, there will be no turning back.
Fact #14 - definitely, there will be death panels. Don't Believe Sarah Palin ? How about Paul Krugman?
Krugman: Think about people on the right. They’re simultaneously screaming, they’re going to send all of the old people to death panels and it’s not going to save any money. That’s a contradictory point of view.
Tapper: Death panels would save money, theoretically.
Krugman: The advisory path has the ability to make more or less binding judgments on saying this particular expensive treatment actually doesn’t do any good medically and so we’re not going to pay for it. That is actually going to save quite a lot of money. We don’t know how much yet. The CBO gives it very little credit. But most of the health care economists I talk to think it’s going to be a really major cost saving. (April 3, 2010). LINK
Fact #15 : A brief commentary on the increasing and catastrophic expense of ObamaCare. (submitted 12/27/2010)
Despite the "nonparitsan" BS from FactCheck and PolitiFact, the equivalents of death panels are in ObamaCare.
Look, you simply cannot control costs and reduce the national (annual) deficit while you are attempting to do the following:
Free Health Insurance for a Sixth of the Nation
1. Move 16 million people into ObamaCare via Medicare. The ugly truth this: the actual numbers will be 35 to 50 million people. Additional cost = 40 to 75 billion dollars per year or 4 to 7.5 trillion for a ten year period !!! Understand that these are immigrants, illegals that through the system, and the poor. They are not Baby boomers.
Pay for end of life care for Baby Boomers
2. We are being told that the Baby Boomers will add another 10,000 claimants per day for 17 to 29 years. Understand that the Boomers will bring the most expensive of claims into the mix. i.e. end of life medical provisions. Estimated cost: eventually, trillions.
Pay for 2.5 trillion in Medicare reimbursements
3. You may remember the "doctor fix." What is that? Well, it is the federal reimbursement to the medical community for Medicare coverage. Without this reimbursement, thousands of doctors would be forced from the system. The "fix" costs the taxpayer around 250 billion per year or 2.5 trillion over the course of ten years, assuming the reimbursement total does not increase. It was not included in the health care "cost debate" for obvious reasons. But it is a medical cost and it will become a part of the ObamaCare taxpayer scam.So, how does Obama cut costs? By encouraging folks to plan for their deaths without encouraging them in the use of expensive medical late/life care. The original Obama plan gave doctor's reimbursements if they counseled folks every 5 years. An explosion in the debate took place, typified by Sarah Palin's "death panel" comments. So much heat occurred as a result, that this provision was taken out of the bill. Now, months later, there is provision in the doctor's fix for reimbursement if the doctor advises on an annual basis (which is more often than every five years). Understand that the this new provision is not written law. Rather, it exists because of Obama's use or misuse of regulations. (see the NY Times story here.)
Understand that Obama care was not written by a panel of medical and civilian authors and, then, submitted to Congress for review and passage.
Nope. Obama told us we did not have time for all that; We were in a state of emergency, that we should not expect to know what was in the bill until after the bill became law. So the bill was written behind closed doors, not in committee. It was written with a view to passage, hence bribes and earmarks that totaled hundreds of billions of dollars . . . . . perhaps the most poorly written piece of legislation in American history.
Fact #16: Doctor owned hospitals have been legislated against in the health care bill. According to Fox News reporting the week of Jan 10-14, 2011, there are 46 doctor hospitals currently under expansion. That work has come to a halt per this reform law and other doctor owned hospitals will be built. The new health care rules single out such hospitals, making new physician-owned projects ineligible to receive payments for Medicare and Medicaid patients.cf. CNS news story .
Fact #17: A comprehensive list of new taxes because of ObamaCare:
This entry dated 1/14/2011. Taken from this location HERE. Compliation by Ryan Ellis
Next week, the U.S. House of Representatives will be voting on an historic repeal of the Obamacare law. While there are many reasons to oppose this flawed government health insurance law, it is important to remember that Obamacare is also one of the largest tax increases in American history. Below is a comprehensive list of the two dozen new or higher taxes that pay for Obamcare’s expansion of government spending and interference between doctors and patients.Fact #18: OCTOBER 17, 2011 | COMMUNITY LIVING ASSISTANCE SERVICES AND SUPPORTS, EMPLOYERS, HHS
On October 14, the Department of Health and Human Services (HHS) announced that it was suspending implementation of the Community Living Assistance Services and Supports (CLASS) program.
Mandated by the health care reform law, the CLASS program was intended to be a consumer-funded, voluntary long-term care insurance program that would cash benefits for eligible beneficiaries. The program would have been available for active workers who were at least 18 years old; enrollment in the CLASS program would be voluntary, although employers could automatically enroll employees with monthly premiums deducted via payroll (subject to opt-out rights). To implement the CLASS program, the Secretary of HHS was required to develop at least three “actuarially sound” benefit plans that would remain solvent for 75 years, one of which would be designated as the final “CLASS Independent Benefit Plan” by October 1, 2012.
In suspending the CLASS program, HHS cited actuarial and solvency impediments as the reason why they had “not identified a way to make CLASS work at this time.” The full report sent to Congress is available here, along with the Secretary’s cover letter. There is no indication if HHS will restart work on the CLASS program in the future. Today’s post was contributed by Jessica Faith.
Fact #19 Mandated taxes and ObamaCare
Individual Mandate Excise Tax(Jan 2014): Starting in 2014, anyone not buying “qualifying” health insurance must pay an income surtax according to the higher of the following
| 1 Adult | 2 Adults | 3+ Adults | |
| 2014 | 1% AGI/$95 | 1% AGI/$190 | 1% AGI/$285 |
| 2015 | 2% AGI/$325 | 2% AGI/$650 | 2% AGI/$975 |
| 2016 + | 2.5% AGI/$695 | 2.5% AGI/$1390 | 2.5% AGI/$2085 |
Employer Mandate Tax(Jan 2014): If an employer does not offer health coverage, and at least one employee qualifies for a health tax credit, the employer must pay an additional non-deductible tax of $2000 for all full-time employees. This provision applies to all employers with 50 or more employees. If any employee actually receives coverage through the exchange, the penalty on the employer for that employee rises to $3000. If the employer requires a waiting period to enroll in coverage of 30-60 days, there is a $400 tax per employee ($600 if the period is 60 days or longer).
Combined score of individual and employer mandate tax penalty: $65 billion/10 years
Surtax on Investment Income ($123 billion/Jan. 2013): This increase involves the creation of a new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single). This would result in the following top tax rates on investment income| Capital Gains | Dividends | Other* | |
| 2010 | 15% | 15% | 35% |
| 2011-2012 (current law) | 20% | 39.6% | 39.6% |
| 2011-2012 (Obama budget) | 20% | 20% | 39.6% |
| 2013+ (current law) | 23.8% | 43.4% | 43.4% |
| 2013+ (Obama budget) | 23.8% | 23.8% | 43.4% |
*Other unearned income includes (for surtax purposes) gross income from interest, annuities, royalties, net rents, and passive income in partnerships and Subchapter-S corporations. It does not include municipal bond interest or life insurance proceeds, since those do not add to gross income. It does not include active trade or business income, fair market value sales of ownership in pass-through entities, or distributions from retirement plans. The 3.8% surtax does not apply to non-resident aliens.
Excise Tax on Comprehensive Health Insurance Plans($32 bil/Jan 2018): Starting in 2018, new 40 percent excise tax on “Cadillac” health insurance plans ($10,200 single/$27,500 family). For early retirees and high-risk professions exists a higher threshold ($11,500 single/$29,450 family). CPI +1 percentage point indexed.
Hike in Medicare Payroll Tax($86.8 bil/Jan 2013): Current law and changes:
Medicine Cabinet Tax($5 bil/Jan 2011): Americans no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)
HSA Withdrawal Tax Hike($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Flexible Spending Account Cap – aka“Special Needs Kids Tax”($13 bil/Jan 2013): Imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.
Tax on Medical Device Manufacturers($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exemptions include items retailing for less than $100.
Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI; it is waived for 65+ taxpayers in 2013-2016 only.
Tax on Indoor Tanning Services($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons
Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D($4.5 bil/Jan 2013)
Blue Cross/Blue Shield Tax Hike($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services
Excise Tax on Charitable Hospitals(Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS
Tax on Innovator Drug Companies($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.
Tax on Health Insurers($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. The stipulation phases in gradually until 2018, and is fully-imposed on firms with $50 million in profits.
$500,000 Annual Executive Compensation Limit for Health Insurance Executives($0.6 bil/Jan 2013)
Employer Reporting of Insurance on W-2(Min$/Jan 2011): Preamble to taxing health benefits on individual tax returns.
Corporate 1099-MISC Information Reporting($17.1 bil/Jan 2012): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers
“Black liquor” tax hike(Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel.
Codification of the “economic substance doctrine”(Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed.
Read more: http://www.atr.org/comprehensive-list-tax-hikes-obamacare-a5758##ixzz1B5RsVgXtHike in Medicare Payroll Tax($86.8 bil/Jan 2013): Current law and changes:
| First $200,000 ($250,000 Married) Employer/Employee | All Remaining Wages Employer/Employee | |
| Current Law | 1.45%/1.45% 2.9% self-employed | 1.45%/1.45% 2.9% self-employed |
| Obamacare Tax Hike | 1.45%/1.45% 2.9% self-employed | 1.45%/2.35% 3.8% self-employed |
HSA Withdrawal Tax Hike($1.4 bil/Jan 2011): Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Flexible Spending Account Cap – aka“Special Needs Kids Tax”($13 bil/Jan 2013): Imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.
Tax on Medical Device Manufacturers($20 bil/Jan 2013): Medical device manufacturers employ 360,000 people in 6000 plants across the country. This law imposes a new 2.3% excise tax. Exemptions include items retailing for less than $100.
Raise "Haircut" for Medical Itemized Deduction from 7.5% to 10% of AGI($15.2 bil/Jan 2013): Currently, those facing high medical expenses are allowed a deduction for medical expenses to the extent that those expenses exceed 7.5 percent of adjusted gross income (AGI). The new provision imposes a threshold of 10 percent of AGI; it is waived for 65+ taxpayers in 2013-2016 only.
Tax on Indoor Tanning Services($2.7 billion/July 1, 2010): New 10 percent excise tax on Americans using indoor tanning salons
Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D($4.5 bil/Jan 2013)
Blue Cross/Blue Shield Tax Hike($0.4 bil/Jan 2010): The special tax deduction in current law for Blue Cross/Blue Shield companies would only be allowed if 85 percent or more of premium revenues are spent on clinical services
Excise Tax on Charitable Hospitals(Min$/immediate): $50,000 per hospital if they fail to meet new "community health assessment needs," "financial assistance," and "billing and collection" rules set by HHS
Tax on Innovator Drug Companies($22.2 bil/Jan 2010): $2.3 billion annual tax on the industry imposed relative to share of sales made that year.
Tax on Health Insurers($60.1 bil/Jan 2014): Annual tax on the industry imposed relative to health insurance premiums collected that year. The stipulation phases in gradually until 2018, and is fully-imposed on firms with $50 million in profits.
$500,000 Annual Executive Compensation Limit for Health Insurance Executives($0.6 bil/Jan 2013)
Employer Reporting of Insurance on W-2(Min$/Jan 2011): Preamble to taxing health benefits on individual tax returns.
Corporate 1099-MISC Information Reporting($17.1 bil/Jan 2012): Requires businesses to send 1099-MISC information tax forms to corporations (currently limited to individuals), a huge compliance burden for small employers
“Black liquor” tax hike(Tax hike of $23.6 billion). This is a tax increase on a type of bio-fuel.
Codification of the “economic substance doctrine”(Tax hike of $4.5 billion). This provision allows the IRS to disallow completely-legal tax deductions and other legal tax-minimizing plans just because the IRS deems that the action lacks “substance” and is merely intended to reduce taxes owed.
Fact #20: Beginning in early 2013, all institutions, religious or otherwise, must supply insurance that offers contraception and abortion stimulating "medicine." When Obama "compromised" on this matter (early Feb of 2012) he did not change the written ObamaCare law on the issue. In other words, his "compromise" or "accommodation" was utterly meaningless in that it effected no change whatsoever in the law.
Fact #21: (added 8/19/12) ObamaCare would require that all healthcare workers become members of a union, all 21 million of them. It is estimated that for every 1 million unionized workers, a billion dollars in political donations can be raised.
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