Obama Care - page 2
by johnny depp23 11,798 Views | 10 Comments
Do you think nurses salaries will increase or decrease with this new health care bill in the next couple of years? If you think it will decrease/increase please explain why. It seems to me that people's salaries would increase... Read More
- 1Jun 6, '11 by WIN007Quote from msn10I agree with 6. Tired of paying for the health care of part-time Walmart workers. Like the Walton's pay for it; they can afford it more than me.Stay the same.
I don't think our salaries will fluctuate, but scoochy is right, our taxes are going to up (yes even if you make less than $200,000) and, according to reports, you will no longer be able to use tax free dollars for health insurance. So in other words, health insurance will be taxed as benefits. Some fees that will effect everyone:
1. A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.
2. A limit on the amount that employees can contribute to health care flexible spending accounts to $2,500 a year, but the cap won’t take effect until 2013. This was previously left to the employer's discretion (Usually $5,000 or higher)
3. A ban on using funds from flexible spending accounts, health reimbursement arrangements or health savings accounts for the cost of over-the-counter medications, starting in 2011
4. A hike in the 7.5% floor on itemized deductions for medical expenses to 10%, beginning in 2013. But taxpayers age 65 and over are exempt from the cutback through 2016.
5. A new 40% excise tax, beginning in 2018, on high-cost health plans, levied on the portion that exceeds $10,200 for individuals and $27,500 for families. The provision is aimed mostly at gold-plated plans offered by employers, although it can affect individual policies
6. A new tax on individuals who don't obtain adequate health coverage by 2014 -- this is often referred to as the individual mandate.. The tax is to be phased in over three years, starting at the greater of $95, or 1% of income, in 2014, and rising to the greater of $695, or 2.5% of gross income, in 2016.
Yes, taxing health benefits is probably coming. Sux. But we already know we can't tax mega corporate conglomerates or productive people like the heirs of the Mellon-Scaifes, Waltons and Forbes as it would be horrific socialism. Guess sacrifices must be made by the middle class again.