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Hsa Insurance Obamacare Question & Answers

2013 August 9
by Sarah Fields

Joseph asks…

How come the People of the US don’t get a say in Obamacare?

Are people setting up petitions? When will the house/senate repeal Obamacare?
Will we finally be a Socialist country with this universal healthcare?

Sarah Fields answers:

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

Laura asks…

Why do liberals lie and say that ObamaCare does not raise taxes on the middle class who have insurance?

Last year I had an HSA that allowed me to put $5000 tax free on a debit card from my employer for medical expenses that my insurance does not pay. Co-pays, deductibles, co-insurance, and so on. Because of ObamaCare, this year my HSA is capped at $2500. So now I will have an additional $2500 I have to pay taxes on. Thanks for nothing you stupid liberals.
Chewy Ivan: You are a liar. I make less than $60,000 a year. And because I have back issues, I have to pay more as my part of my medical bills as a result. For instance, I had surgery in January that cost almost $60,000. Even at %15, that is $7500 that I have to pay. The more of that I can pay tax free, the less my tax burden. My employer takes the money out of my paycheck for my HSA every payday.
Realist Girl: There is no such thing as “full coverage”. NO health insurance pays 100%
Baby Love: So, you think raising taxes on the middle class is the way to go?
I need to clarify, the account I use is known as a Flex Spending Account, not an HSA. It is referred to by my employer as an HSA, but it is actually a FSA.

http://www.bankrate.com/finance/insurance/how-health-care-reform-changes-fsas-hsas-1.aspx

Sarah Fields answers:

Someone’s got to foot the bill for the ones who can’t afford insurance. Where do they think that money is going to come from? Oh yeah–tax payers.

Jenny asks…

Why did the good parts of Obamacare start now and the sucky parts start later?

Sarah Fields answers:

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

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