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How Obamacare Affects You

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How Obamacare Affects You

57% of Americans don't know enough about Obamacare to know if they support it or not.[1] How much do you know?

Despite its 1900+ page length, and 234k words that impact substantive law, the basics of H.R. 3962 aren't hard to grasp.[2]

(Comparisons: 2x as long as the defense authorization act of 2010. Entirety of U.S. code is 42 million words, making H.R. 3962 0.5% of all U.S. Code)

Three-Pronged Approach[6]

  • No more exclusion based on pre-existing conditions.
  • The "mandate" you must buy insurance even if you're healthy.
  • Insurance for lower income purchasers is subsidized.

60% of personal bankruptcies are from healthcare costs. And many healthy people choose to forego pricey plans, causing greater health risks down the road.


Who it Affects?

Do you have insurance through your employer, Medicare, or Medicaid? Then you will remain largely unaffected by Obamacare. Though you can choose to purchase a plan if you like .

32 Million Underserved Americans (roughly 10%) will be insured by Obamacare[4]

Businesses[5]:

  • 96% of businesses will not be taxed at a higher rate due to Obamacare.
    • Hedge funds that qualify as "small businesses" with the "pass through" clause will be taxed. Not mom and pop shops.
    • FTE's = full time equivalent employees, who work 120+ hours a month.
    • "Affordable insurance" costs <9.5% of employee income.
    • (show scale perhaps. 35k salary=<$3325 on insurance, 45k = <$4275 on insurance, etc.)
    • <25 FTE businesses will get tax credits to help with insurance.(up to 35% tax breaks)
    • 50+ FTE businesses must cover 60% of insurance costs, or whatever is required to provide "affordable insurance."
    • Or pay a fine of $2000 for every FTE >30.[4]
    • <100 FTE's means you are a small business, and you can purchase plans in an insurance exchange.

    About one half of America's uninsured are small business owners, employees or their dependents.


    With small business owner's premiums jumping from $5,700 in 1999 to $12,700 in 2009. And the percentage of small firms offering coverage falling from 65 to 59 percent.



    Eligible for Medicare or Medicaid?[7]

    (The medically underserved)

    By restructuring funding, availability of affordable doctors is meant to increase. In one 23 county area of west Texas there is not one physician.[9] By incentivizing the care of Medicaid holders gaps in coverage will be decreased.

    Medicaid expansion will insure 50% of the nations poorest uninsured with the federal government funding 90-100% of the cost.

    Who is involved?

    • Individuals making <133% of the poverty line, or <$14,856 a year. Or, the 21.3 million poorest citizens.
    • Doctors: will now receive 73% of going rate for procedures for both medicaid and medicare.

    States CAN opt out without losing funding.

    Currently, 26 states are participating. 1 is leaning towards participation, 4 are pursuing alternative models, 6 are leaning towards not participating, and 13 are not participating.

    The Marketplace [3]

    October 1, 2013: The date when individuals, families, and small businesses can choose from a variety of plans that start January 1, 2014. The "exchange" will work like a travel site, offering different rates and services. Also offering up-front assistance or tax credits for some. Discounts offered to: individuals $15,302 to $46,021, families of four: $31,155 to $93,700.

    Those under 26 can stay on their parents' insurance plans.[10] Make 400%+ percent of the poverty threshold? Young and healthy? Then your plan will be more expensive. Not all of these things? Then you qualify for up to 60% reduced pricing.

    What new taxes are included in the affordable care act:[8]

    • 3.8% medicare payroll tax on $250k+ earners.
    • Health Insurer Tax
    • Tax on innovator drug companies based on sales made
    • Tax on medical device manufacturers: 2.3%
    • High Medical Bills tax deduction (for those spending over 10% AGI on meds)
    • "Special needs" children tax break
    • 10% excise tax on indoor tanning facilities
    • $500,000 a year limit for healthcare executives
    • $50,000 fee per charitable hospital that doesn't account for "community assistance needs."
    • 5% tax on elected cosmetic surgery [4]

    49.9 million Americans went without insurance in 2010. This number dropped by 16% in 2011, and Obamacare is just getting started. Know the facts and decide for yourself.

    [Citations]

    1. http://www.usnews.com/news/articles/2013/03/22/poll-most-americans-remain-ignorant-of-obamacare-impacts
    2. http://computationallegalstudies.com/2009/11/08/facts-about-the-length-of-h-r-3962/
    3. http://obamacarefacts.com/howdoes-obamacare-work.php
    4. http://s3.amazonaws.com/designrelated-images-final/portfolio_file_items/580/79938/original_scaled/transparency.jpg
    5. http://obamacarefacts.com/obamacare-smallbusiness.php
    6. http://www.nytimes.com/2013/05/27/opinion/krugman-the-obamacare-shock.html?_r=0
    7. http://obamacarefacts.com/obamacares-medicaid-expansion.php
    8. http://jeffduncan.house.gov/full-list-obamacare-tax-hikes
    9. http://www.csg.org/knowledgecenter/docs/TIA_PhysicianShortage_Final_screen.pdf
    10. http://obamacarefacts.com/obamacare-facts.php


    How Obamacare Affects You