Two things I learned about ACA this tax season

[ILLMAS]

1. You tell the marketplace people I am going to make less this year so I qualify for a subsidy.

2. Some people overstate their income to avoid getting insurance through public aid/Medicaid.

[Pacun]

Two things that I learned is that:

 

1, ACA is only beneficial to the people who make a lot of money (they have insurance anyways) or the people that makes little money, they will get cheap or free insurance.

 

2. Besides EIC, ACA will motive people to under report income.

[Kea]

I'm sorry, Pacun, but # 1 is not entirely true.  Before ACA there were rich people that could not get insurance.  If you had to get insurance on your own (retired, self employed, employer did not provide insurance, etc.) and had a "pre-existing" condition, you could not get insurance at any price.  I'm sure the rules were different in different states.  My "pre-existing" condition was a FALSE positive on a test.

[Pacun]

I'm sorry, Pacun, but # 1 is not entirely true.  Before ACA there were rich people that could not get insurance.  If you had to get insurance on your own (retired, self employed, employer did not provide insurance, etc.) and had a "pre-existing" condition, you could not get insurance at any price.  I'm sure the rules were different in different states.  My "pre-existing" condition was a FALSE positive on a test.

 

I am talking about my scope while I prepare taxes, and when I prepare taxes I don't ask about pre-existing conditions.

[jklcpa]

I would disagree with Pacun's first statement also because some of my well-to-do clients are also paying the .9% additional Medicare tax that is helping to fund the ACA.

[Kea]

Thankfully, insurance companies can no longer deny people with pre-existing conditions from getting health insurance (just one of the provisions of the new law that does not affect the tax return).

[Abby Normal]

My finacee is taking IRA distributions so she doesn't slip into Medicaid territory. We can't get married because she would lose her PTC and go from paying 70/mo to 500/mo. I dropped my old grandfathered in plan for a new plan because the premiums were much lower and it offered better coverage, but with a higher deductible. I don't care because I'm just looking for catastrophic coverage anyway.

[Terry D EA]

I've learned that no matter what the income level is, the insurance is always affordable. Well, by the calculations anyway. And, I've learned that it appears that our freedom of choice is being infringed upon by being forced to have health insurance coverage. Like jmdaviscpa, I had to put my wife on my insurance with my employer. Cost me 642.00 per month. Better coverage than that offered at the market place for more money. Finally, I've learned that the ACA isn't going away and will only get worse and in the grand scheme of things we will all be paying for something that has limited or no useful value. Deductibles so high with coverages so low, how good is it?

[Jack from Ohio]

Two things I have learned:

 

1.  The election of 2012 granted me 15 years of job security.

2.  The reason for the job security stinks to high heaven.

[Pacun]

I've learned that no matter what the income level is, the insurance is always affordable. Well, by the calculations anyway. And, I've learned that it appears that our freedom of choice is being infringed upon by being forced to have health insurance coverage. Like jmdaviscpa, I had to put my wife on my insurance with my employer. Cost me 642.00 per month. Better coverage than that offered at the market place for more money. Finally, I've learned that the ACA isn't going away and will only get worse and in the grand scheme of things we will all be paying for something that has limited or no useful value. Deductibles so high with coverages so low, how good is it?

 

So, if I am not mistaken, you are in the middle of number 1 (not rich and no poor). So my comment is exactly what you are saying, it affects people like you and me who are in the middle.

[Abby Normal]

A lot of people were paying for useless health care plans before and having to file for bankruptcy even though they were 'insured.' Health insurance companies need to go back to being nonprofit like they were in the 70s. No reason to have shareholders earning dividends off our struggle to be insured.

[Terry D EA]

So, if I am not mistaken, you are in the middle of number 1 (not rich and no poor). So my comment is exactly what you are saying, it affects people like you and me who are in the middle.

 

Yep you got it! I gripe each and every time my wife pays our cell phone bill too. Have to pay enough taxes on that thing so someone else who should be less fortunate than me can get one free! Even though they drive cars that are nicer and cost more than mine, I hope they are glad that I have worked so hard for their benefits. Another thanks for being in the middle.

Edited April 7, 2015 by Terry D