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Old 01-11-2013, 09:10 AM   #196
joedplumber
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Still waiting for me and my DW to receive out first 2013 paycheck. Fingers crossed!!
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Old 01-11-2013, 09:50 AM   #197
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Originally Posted by joedplumber View Post
Still waiting for me and my DW to receive out first 2014 paycheck. Fingers crossed!!
You'll probably be waiting ... about 12 months for that first 2014 check.

We've received our first 2013 checks but DH's came with a note from the HR department that Life Insurance rates were not held correctly and the next check would hopefully correct the error and then have the correct amount. And they don't have raises in. I don't think I'll have a true amount check from him until February sometime.
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Old 01-11-2013, 09:59 AM   #198
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Since it came up earlier in this thread, is there some specific way to prepare for the PPACA? Somebody said to just wait until the Obamacare taxes. I didn't think that was exactly a tax so much as you have to buy a policy if you don't have one. So if you have insurance, not really any prep to do, right?
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Old 01-11-2013, 10:01 AM   #199
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We're losing about $200 a month. Trying to figure out where I'll cut. Unfortunately, vacation/entertainment funding seems to be the first on the chopping block . Thankful that we have "fluff" to cut out of our budget. I'm feeling for those who don't right now . --Katie
Not to say anyone did anything they weren't supposed to, but the original cut was to get everyone spending and it looks like it worked.

When they cut the tax, we took that money and added it to my 401K every pay period. That way we never became dependent on that money (as it was not in the check) and used it to save for our future.

I do understand that a lot of people didn't really have that option as they were struggling already. Most people we know have cut cell phone bills and cable. That is usually where I look first since these are nice to have, but usually not critical like food and utilities. In the past, we have also cut expenses by eating home and not going out to dinner at restaurants.
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Old 01-11-2013, 10:04 AM   #200
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Originally Posted by RitaE

You'll probably be waiting ... about 12 months for that first 2014 check.

We've received our first 2013 checks but DH's came with a note from the HR department that Life Insurance rates were not held correctly and the next check would hopefully correct the error and then have the correct amount. And they don't have raises in. I don't think I'll have a true amount check from him until February sometime.
Lol.
2013.

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Old 01-11-2013, 10:12 AM   #201
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Since it came up earlier in this thread, is there some specific way to prepare for the PPACA? Somebody said to just wait until the Obamacare taxes. I didn't think that was exactly a tax so much as you have to buy a policy if you don't have one. So if you have insurance, not really any prep to do, right?
its considered a tax by one group of people, only because the justice said it can stand as a tax. I guess he found the greater good in the law rather than striking it down out right.

But its a penalty for not having insurance. It seems its cheaper to charge someone a penalty for not having insurance than having the rest of us taxpayers foot the bill for someone going to the ER and not paying the bill.

You have a choice here, buy health insurance or pay a penalty, you dont have a choice in taxes

If you have insurance, there will be no tax from what i understand of the bill.



As far as the payroll tax goes, it only knocked off about $60 a month for us, which is nothing.

Young, married and own a home. gotta love it lol
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Old 01-11-2013, 10:21 AM   #202
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Quote:
Originally Posted by mistysue View Post
Since it came up earlier in this thread, is there some specific way to prepare for the PPACA? Somebody said to just wait until the Obamacare taxes. I didn't think that was exactly a tax so much as you have to buy a policy if you don't have one. So if you have insurance, not really any prep to do, right?
Much depends on whether your current coverage meets the standards set forth in the law. If it doesn't provide you with the minimum level of coverage as dictated by the law, it won't count and you will need to purchase a policy that does. If you get your coverage through your employer, they will need to offer you a selection of healthcare plans that meet the specifics of the law or else pay a penalty (or is it a tax?).

We were notified last month that the current policy that we offer at our business will not be available when it comes time to renew. A similar policy will cost 19% more than the one we have now. Our employees will not be able to afford the cost increase and since we are not large enough to fall under the law that requires employers to provide coverage, we will not be offering health insurance as a part of their benefits package.
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Old 01-11-2013, 10:26 AM   #203
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Quote:
Originally Posted by mistysue View Post
Since it came up earlier in this thread, is there some specific way to prepare for the PPACA? Somebody said to just wait until the Obamacare taxes. I didn't think that was exactly a tax so much as you have to buy a policy if you don't have one. So if you have insurance, not really any prep to do, right?
I did read about an additional fee of $63 per person (1st yr) in the family. Then it goes down to $4x. the 2nd yr is $2x. for the 3rd yr. I think this "fee" goes towards the people that have a preexisting condition. Everyone pays it or those that have jobs pay it.
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Old 01-11-2013, 10:44 AM   #204
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I know a few folks who wanted to spend the 2% tax holiday money when they got it so they increased their federal withholding to get a larger tax refund and spent it that way. Now they lowered their withholding so they won't get a big refund in 2014 but there weekly pay has stayed flat.
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Old 01-11-2013, 10:48 AM   #205
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We just got DH's first 2013 pay stub and frankly, the difference in withholding is minimal...now the increase in our health insurance this year IS significant.
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Old 01-11-2013, 10:48 AM   #206
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Originally Posted by mistysue View Post
Since it came up earlier in this thread, is there some specific way to prepare for the PPACA? Somebody said to just wait until the Obamacare taxes. I didn't think that was exactly a tax so much as you have to buy a policy if you don't have one. So if you have insurance, not really any prep to do, right?
I think there is a tax portion of it on high earners at least for now to pay for the subsidies for poor people. I'm not paying it so I guess we're not high earners. If you don't have insurance through work and buy it through the ACA, then you still probably have to pay something for the insurance. The subsidies are supposed to be just partial subsidies unless you are very poor so you'll still need to pay your share for the insurance. There is also the penalty for people who don't carry insurance. The court decided that was a tax too.
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Old 01-11-2013, 11:07 AM   #207
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Most of our employees opt out of the coverage we offer and we have a variety of plan choices and we pay half for them, but they say they still can't afford it. I honestly don't know how they are going to manage. They just aren't used to budgeting for insurance.

Does anyone know if the news law bans "age-rating" of insurance? Our plan is age rated and goes up as you get older. We didn't choose that, our very small company is getting insurance through a larger consortium to try to keep the rates down.
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Old 01-11-2013, 11:12 AM   #208
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I probably should be kissing my employers feet. I currently have for 2013 a family copay plan that the employer fully pays for.
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Old 01-11-2013, 03:59 PM   #209
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Does anyone know if the news law bans "age-rating" of insurance? Our plan is age rated and goes up as you get older. We didn't choose that, our very small company is getting insurance through a larger consortium to try to keep the rates down.
This is from back in March 2010: "The Patient Protection and Affordable Care Act will limit age rating to 3:1 for premiums which means that someone who is 55 years old will pay a maximum of three times what someone who is 25 years old would pay." I don't know if the rules changed after that before the law was passed.
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Old 01-11-2013, 05:13 PM   #210
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Not cutting back anything. My cost of living increase started on the same paycheck as the tax reverting back to it's old level. The tax rate was about 2% my COL increase was 3%.


While it's a bummer I don't have a problem with it. Everyone is supposed to pay in, that's my share so that's what I pay.


What may change is that I've been getting money back at tax time (since I didn't adjust my withholding when we got the break) and I think my figures will be closer on the mark this year. I might even pay in.
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