ObamaCare Info

[MinnieLovesMickey12]

They do have adult dental plans you can enroll in but almost every single one has a one year waiting period to get any dental work done and then you can only get $1,000 a year worth of treatment and services. None of the plans offer anything better.

Let me show you some of this Obamacare logic...

My 28 yr old son is unemployed. Our state chose not to expand Medicaid. But using the subsidy calculator it states that since he is ELIGIBLE for expanded Medicaid even though he can't get it in my state he will get zero subsidy.

He has no income and can get no subsidy.

The premium for him would be $4100 a year he has to pay with no job.

Or he can pay the fine. The fine is cheaper. And they can only take it out of your tax refund if you have a tax refund to take.

 

[Robbi]

Will the penalty just come out of your income tax return?

We'll gave to add it to our taxes. For someone who overplays, it will be deducted from their refund.

My understanding is that the SEP IRA is subject to the same contribution limits as traditional IRAs, and since we're already maxing that out it wouldn't be an advantage for us. I really do need to hire someone to handle the accounting end of things one of these days; I've been doing it myself but as time goes on things only get more complex and we're reaching the limit of my ability and interest in learning how to manage it all.



I think that's a "consider the source" thing. While there's no disputing his pioneering role in internet security and virus protection, the man is also a bit of a whack-a-doo and comes off as rather paranoid these days. I have a very hard time believing that e-filing our taxes all these years is any less risky than registering on the Obamacare site.

Whackadoo maybe but internet security is his business and he's been very successful. The obamacare website sucks. If their security is as bad, well, I hope people have money to lose because you know hackers are hard at work. Think Anonymous.

 

[tcherjen]

My husband and I must be doing something wrong. A little background, the kids and I have insurance it is just my husband that will need it in Jan. He had BCBS, but it expires then. He filled in his information started putting in family info. It asks about us filing taxes, married, do we have dependents ect. It won't let him go on from that screen. It keeps asking if are we sure the kids and I aren't applying for coverage. Today it is just has his name on his profile and no application information. Anyone else run into this?

 

[teller80]

I have a friend with a 24 year old daughter. She dropped out of college and has been working about 15 hours a week ever since. The ONLY thing getting her to FINALLY consider looking for a full-time job is the pending end to the health coverage on her parents' health insurance. She hasn't even considered looking for a full-time job up until now. Because she didn't HAVE to..

I'm confused. Do you think her having to "FINALLY considering looking for a full-time job" is a good thing or a bad thing?

 

[mom2rtk]

I'm confused. Do you think her having to "FINALLY considering looking for a full-time job" is a good thing or a bad thing?

I think she should have been looking for a full-time job the minute she dropped out of college. But she felt no pressure to pursue a full-time job. Mom constantly tells her she should get a full-time job, but hasn't really gotten serious about it until the need for health insurance started seeming close.

 

[caligirl stuck in va]

I haven't read every page, but I do see alot of "we'll just pay the penalty" posts. I totally get it - this is the most ridiculous pc of law to be laid out - the people can't afford health insurance so we will make it more expensive to get health insurance and then if they can't afford it, we will make them pay a tax, but we won't call it a tax - we will call it a penalty. That makes sense. NOT. People still can't afford health insurance. And the insurance is total crap - doesn't cover what needs to be covered and some paper pusher somewhere is going to have a Yay/Nay stamp making YOUR medical decisions.

I just want to point out that it's not just the penalty. They can cancel your Drivers License and ultimately put a lien on your home or take your home. And the penalty, although I've read it's $95 for the first year, goes UP each year.

I can't believe they were able to pass this crap bill.

 

[mom2rtk]

I haven't read every page, but I do see alot of "we'll just pay the penalty" posts. I totally get it - this is the most ridiculous pc of law to be laid out - the people can't afford health insurance so we will make it more expensive to get health insurance and then if they can't afford it, we will make them pay a tax, but we won't call it a tax - we will call it a penalty. That makes sense. NOT. People still can't afford health insurance. And the insurance is total crap - doesn't cover what needs to be covered and some paper pusher somewhere is going to have a Yay/Nay stamp making YOUR medical decisions.

I just want to point out that it's not just the penalty. They can cancel your Drivers License and ultimately put a lien on your home or take your home. And the penalty, although I've read it's $95 for the first year, goes UP each year.

I can't believe they were able to pass this crap bill.

But it's all good. They "fixed" the health care problem.

Case in point why doing something isn't always better than doing nothing.

 

[ilovemk76]

Will the penalty just come out of your income tax return?

This is what they say. The dumb thing is you can make sure to not get a tax refund. Then what? The IRS can go after your bank account but are they allowed in this situation?

 

[Robbi]

This is what they say. The dumb thing is you can make sure to not get a tax refund. Then what? The IRS can go after your bank account but are they allowed in this situation?

Supposedly not but until I know for a fact that they can't, I won't rest easy.
The bill is huge and who knows what all the fine prints says.

 

[mikek]

havent been able to set up account in nj yet . but website showed about 30 plans with some POSs availbale.................not just epo

still can't get verified so no account for me.

But now that i've seen the plans with the new 'learn' link and poked around the insurers websites themselves. I've seen anout not to be in any rush. doesn't seem anyway to save money for us without getting a subsidy. I'll sit down and figure out closer to year end if i can work things to get a subsidy. If not we'll ride the plan I have till the dirty end and then come up with a plan B- hopefully my wife can find full time work by then with bennies.

 

[mikek]

My understanding is that the SEP IRA is subject to the same contribution limits as traditional IRAs, and since we're already maxing that out it wouldn't be an advantage for us. I really do need to hire someone to handle the accounting end of things one of these days; I've been doing it myself but as time goes on things only get more complex and we're reaching the limit of my ability and interest in learning how to manage it all.
....

again - no accountant- but my understanding is a SEP IRA will allow you much more.

http://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-SARSEPs#contributions

How much may an employee defer under a SARSEP?
An employee may make an elective deferral up to the lesser of the following amounts:
25% of compensation, or
$17,000 for 2012 and $17,500 for 2013 (subject to annual cost-of-living adjustments).

http://www.irs.gov/Retirement-Plans...yee/Retirement-Topics-IRA-Contribution-Limits

For 2013, the maximum you can contribute to all of your traditional and Roth IRAs is the smaller of:
$5,500 ($6,500 if you’re age 50 or older), or
your taxable compensation for the year.

other differences from what i understand (AGAIN NOT A PRO- disclaimer- lol) I think a Sep MUST be funded by 4/15 and you can get no extensions. With an IRA I think if you keep extending your personal taxes you can wait till the day you file (which can be as late as the fall if you pay all the taxes dye by 4/15. either is better than an individual 401k which i understand to be 12/1

if you have employees it gets more complex for either sep's or 401k's - you really need to get more facts there.

If you are trying to eek out another year or whatever without an accountant- i used to pick the brains of people at fidelity for retirement account stuff. I'd chat with them and then print the chat. And they never gave the mike at disboards disclaimer that they were not pros- LAUGHING. Figured at worst if i messed something up i could show the IRS i tried to do the right thing. After we got attacked (er i mean audited) one year we always get a CPA, but she never really found anything we were doing wrong with the 'free fidelity advice'i.

 

[mikek]

...
Or he can pay the fine. The fine is cheaper. And they can only take it out of your tax refund if you have a tax refund to take.

this one always cracks me up- anyone wanting to game the system just needs to set their withholding (if they even have any) so that they dont get a refund. Now what?

PS- in your sons case- i think i may have read that if you don't have to file tax returns then you don't have to pay the fine. I think it's a safe bet if you have zero income you don't need to file a return.

 

[Muushka]

What a massive can of worms that has been opened with this law.

 

[johde]

other differences from what i understand (AGAIN NOT A PRO- disclaimer- lol) I think a Sep MUST be funded by 4/15 and you can get no extensions. With an IRA I think if you keep extending your personal taxes you can wait till the day you file (which can be as late as the fall if you pay all the taxes dye by 4/15. either is better than an individual 401k which i understand to be 12/1

No, Traditional and Roth IRAs also need to be funded by tax day. According to IRS PUB 960.

Contributions must be made by due date.
Contributions can be made to your traditional IRA for a year at any
time during the year or by the due date for filing your return for that year, not including extensions. For most people, this means that contributions for 2012 must be made by April 15, 2013, and contributions for 2013 must be
made by April 15, 2014.


What you can do is file your taxes early then use your tax refund to fund your retirement account. You just need to remember to apply the deposit to the right tax year.

 

[leahjade]

http://www.infowars.com/ebt-card-fo...-full-of-food-during-federal-computer-glitch/

Another government sponsored plan causing chaos - hate to say it "but we ain't seen nothing yet!" Imagine what can happen to all our private health information!

 

[robinb]

http://www.infowars.com/ebt-card-food-stamp-recipients-ransack-wal-mart-stores-stealing-carts-full-of-food-during-federal-computer-glitch/ Another government sponsored plan causing chaos - hate to say it "but we ain't seen nothing yet!" Imagine what can happen to all our private health information!

Really? You're posting a link to Alex Jones' website?

 

[jedijill]

http://www.infowars.com/ebt-card-fo...-full-of-food-during-federal-computer-glitch/

Another government sponsored plan causing chaos - hate to say it "but we ain't seen nothing yet!" Imagine what can happen to all our private health information!

The EBT outage had zero to do with the government. The IT vendor had a failure when doing a routine system test.

Jill in CO

 

[leahjade]

Really? You're posting a link to Alex Jones' website?

Doesn't make it NOT true! Here's local news story -almost exact word for word!
http://www.ksla.com/story/23679489/walmart-shelves-in-springhill-mansfield-cleared-in-ebt-glitch

The EBT outage had zero to do with the government. The IT vendor had a failure when doing a routine system test.

Oh and that can never happen - it's a government run program that should be monitored by the government. You can bet VISA wouldn't let that happen or any other private run company.

Keep kidding yourselves all you want - talk to you in a few months and see if you are still so naive and drinking the Kool Aid.

 

[jedijill]

Doesn't make it NOT true! Here's local news story -almost exact word for word!
http://www.ksla.com/story/23679489/walmart-shelves-in-springhill-mansfield-cleared-in-ebt-glitch



Oh and that can never happen - it's a government run program that should be monitored by the government. You can bet VISA wouldn't let that happen or any other private run company.

Keep kidding yourselves all you want - talk to you in a few months and see if you are still so naive and drinking the Kool Aid.

Actually, it happens all the time. I work in the Telecom industry. Outages happen. It's not a vast, left-wing conspiracy.

Jill in CO

 

[leahjade]

It's not a vast, left-wing conspiracy

Who said it was? It seems to happen a lot more with the government - I've heard way too many incompetent IRS stories to know I don't want them in charge of my healthcare.

I have a idea - let's let all those who voted for this trillion dollar debacle get Obamacare and let the other half of us who voted against it keep our old insurance, and we'll talk about it in a year (that is if you get signed up till then) and we can compare stories. But why should THE 53% disapprove of the health care law(USA Today) have it rammed down our throats just to be politically correct.