Health Insurance Info for Colorado

news & commentary on health insurance and benefits

Budget on Health Care: Still Expanding

Tags: ,

“Despite the current health care spending crisis, President Obama’s budget does little to significantly reform the existing entitlements (Medicare and Medicaid) and maintains the implementation of Obamacare—which creates two new entitlements and adds more than $1.8 trillion in new spending by 2023.” -Heritage Foundation, The Foundry

The biggest news in this article is the continued war on seniors which isn’t being discussed in any detail by the mainstream media. With newly-proposed drug “rebates” (a hidden tax paid by Medicare enrollees) and a new Part B surcharge equivalent to 15% of the average Medigap premium, seniors will be disproportionally impacted – just as the Obama administration is gutting the Medicare Advantage program, forcing many seniors back into Original Medicare. So much for choice!

  • Author:
  • Published: Nov 28th, 2012
  • Category: Obamacare
  • Comments: Comments Off on New Obamacare taxes for 2013

New Obamacare taxes for 2013

Tags: , , ,

New taxes derived from the roll-out of Obamacare will impact Americans everywhere beginning January 1st, 2013. The increase, estimated to be in the range of  $268 billion, impact consumers, taxpayers, manufacturers, investors, and small-business owners:

  1. A 2.3% excise tax on gross sales of medical device manufacturers.
  2. A cap of $2,500 on Flexible Spending Accounts – many Americans use FSAs to pre-tax costs related to basic medical needs.
  3. A new, 3.8% surtax on investment income, in addition to tax increases on capital gains and dividends, for those with incomes of $250,00 or more (small business owners); for single filers, it’s $200,000.
  4. A tax increase on anyone who has deductible medical expenses, by increasing the threshold of adjusted gross income from 7.5% to 10% of AGI for claiming those expenses as a deduction.
  5. Wages or profits exceeding $200,000 single / $250,000 married couples will face a higher 3.8% Medicare payroll tax, up from 2.9%.

For more detailed information, see Americans For Tax Reform.

© 2009 Health Insurance Info for Colorado. All Rights Reserved.

This blog is powered by Wordpress and Magatheme by Bryan Helmig.