by Guest » Tue Sep 07, 2010 12:08 am
Healthcare Bill Exemption
In March of this year, President Barak Obama signed into law the Patient Protection and Affordable Care Act, officially known as H.R. 3590, or Healthcare Reform. Part of this law will require that by 2014, most Americans must purchase government regulated health insurance. In fact, Section 1501 of the act adds a new chapter to the IRS code that mandates all “applicable” individuals to either obtain health insurance that meets the bill’s “minimum essential coverage” standards. If they do not, they will be required to pay a penalty.
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In March of this year, President Barak Obama signed into law the Patient Protection and Affordable Care Act, officially known as H.R. 3590, or Healthcare Reform. Part of this law will require that by 2014, most Americans must purchase government regulated health insurance. In fact, Section 1501 of the act adds a new chapter to the IRS code that mandates all “applicable” individuals to either obtain health insurance that meets the bill’s “minimum essential coverage” standards. If they do not, they will be required to pay a penalty.
This really is a good article and filled with info that can really help
Posted: Wed Sep 08, 2010 11:27 am Post Subject:
If they do not, they will be required to pay a penalty.
I understand this penalty thing. What I don't get is whether this penalty will cost me more than the accumulated premiums for an year!
Posted: Thu Sep 09, 2010 06:42 am Post Subject:
whether this penalty will cost me more than the accumulated premiums for an year!
No one can truly answer that question for you at this point. However, the law permits a person who fails to pay the penalty to be imprisoned. How much will that be worth in lost wages, legal fees, and deterioration in your health while in confinement.
This is socialism at its worst. Rob Peter to pay Paul, throw Thomas in prison for not having the money to buy health insurance or pay the fine, and generally overlook the entire concept called "actuarially sound".
Disgusting at its core!
Posted: Fri Sep 10, 2010 11:45 am Post Subject:
Anonymous00, you can take my word for one thing! When all of us start thinking about paying the penalty and not buying insurance, then our Govt. will find a way out of that too! So, it's like only water and no banks!
Posted: Fri Sep 10, 2010 04:42 pm Post Subject:
When all of us start thinking about paying the penalty and not buying insurance, then our Govt. will find a way out of that too!
No problem here, Rupert . . . Congress will just permit its minions to file a tax lien via the IRS. Fail to pay, they start seizing your property. Just ask Willie Nelson and any of the others who have first-hand experience.
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