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Hsa Insurance Obamacare Question & Answers

2016 January 22
by Sarah Fields

Mandy asks…

Why is Obama running for a second term?

Hasn’t he failed to “clean up Bush’s mess” according to his own standards?

Sarah Fields answers:

Obama has not finished his war on the middle class.

Obamacare was the largest tax increase on the middle class in US history. 80% of the new taxes will fall on families making less than $125,000 per year.

Here is a listing of only 20 of the tax increases.

1. Excise Tax on Charitable Hospitals (Min$/immediate)
2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion)
3. “Black liquor” tax hike (Tax hike of $23.6 billion)
4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010)
5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010)
6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010)
7. Medicine Cabinet Tax ($5 bil/Jan 2011)
8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011)
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012)
10. Surtax on Investment Income ($123 billion/Jan. 2013)
11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013)
12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013)
13. High Medical Bills Tax ($15.2 bil/Jan 2013)
14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013)
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013)
16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013)
17. Individual Mandate Excise Tax (Jan 2014)
18. Employer Mandate Tax (Jan 2014) Combined score of individual and employer mandate tax penalty: $65 billion/10 years
19. Tax on Health Insurers ($60.1 bil/Jan 2014)
20. Excise Tax on Comprehensive Health Insurance Plans

Sandra asks…

How exactly does Romney not plan to raise middle class taxes when the Tax Policy Center…?

…said his tax plan can’t possibly work without raising middle class taxes by over $2000 per household? Did he abandon his tax plan and go all in on a policy free campaign?

Sarah Fields answers:

Romney will get rid of obamacare.

Obamacare was the largest tax increase on the middle class in US history. 80% of the new taxes will fall on families making less than $125,000 per year.

Here is a listing of only 20 of the tax increases.

1. Excise Tax on Charitable Hospitals (Min$/immediate)
2. Codification of the “economic substance doctrine” (Tax hike of $4.5 billion)
3. “Black liquor” tax hike (Tax hike of $23.6 billion)
4. Tax on Innovator Drug Companies ($22.2 bil/Jan 2010)
5. Blue Cross/Blue Shield Tax Hike ($0.4 bil/Jan 2010)
6. Tax on Indoor Tanning Services ($2.7 billion/July 1, 2010)
7. Medicine Cabinet Tax ($5 bil/Jan 2011)
8. HSA Withdrawal Tax Hike ($1.4 bil/Jan 2011)
9. Employer Reporting of Insurance on W-2 (Min$/Jan 2012)
10. Surtax on Investment Income ($123 billion/Jan. 2013)
11. Hike in Medicare Payroll Tax ($86.8 bil/Jan 2013)
12. Tax on Medical Device Manufacturers ($20 bil/Jan 2013)
13. High Medical Bills Tax ($15.2 bil/Jan 2013)
14. Flexible Spending Account Cap – aka “Special Needs Kids Tax” ($13 bil/Jan 2013)
15. Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D ($4.5 bil/Jan 2013)
16. $500,000 Annual Executive Compensation Limit for Health Insurance Executives ($0.6 bil/Jan 2013)
17. Individual Mandate Excise Tax (Jan 2014)
18. Employer Mandate Tax (Jan 2014) Combined score of individual and employer mandate tax penalty: $65 billion/10 years
19. Tax on Health Insurers ($60.1 bil/Jan 2014)
20. Excise Tax on Comprehensive Health Insurance Plans

John asks…

Anyone work for a company where “Obamacare” made **NO** difference?

my company had to change **NOTHING**

as a matter of fact they favored the AHCA as they felt that EVERYONE on insurance would cut OUR costs. (less emergency room visits etc). Hell, because I walk a mile to and from work every day they actually put money into my HSA.

Prior company – same story.

QUESTION: Am I a gigantic exception or any one else not affect ONE IOTA by “Obamacare“????????????????

Sarah Fields answers:

Not sure yet.

Some of the publishers and suppliers I buy from may be affected by Obamacare.
Prices already went up significantly in 2011.
If they go up again in 2013 or 2014, then I’ll probably be screwed- that is, my product will no longer be affordable to the folks in my relatively poor neighborhood. I’ll need to move my business and the community will lose out entirely.

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