The real scandal in a recent story about taxes included in the Affordable Care Act is that we haven’t heard about this sooner from more insurance companies:
From the New York Post:
The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills.
Most insurers aren’t advertising the ObamaCare taxes that are added on to premiums, opting instead to discretely pass them on to customers while quietly lobbying lawmakers for a break.
But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.”
The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.
The new taxes and fees include a 2 percent levy on every health plan, which is expected to net about $8 billion for the government in 2014 and increase to $14.3 billion in 2018.
There’s also a $2 fee per policy that goes into a new medical-research trust fund called the Patient Centered Outcomes Research Institute.
The story goes on to list other taxes. More on that below. My first question is, why is Alabama’s Blue Cross Blue Shield the first and only company to reveal the plundering of the state? That’s not “advertising,” by the way. That’s simply informing the public what is going on. It is information they need. Yet, according to this story, only one company is disclosing the truth to customers. The rest are covering for the regime.
That needs to stop!
Other taxes include:
- 3.5% user fee that “insurers must pay” (i.e. is added on to the cost of policies) to use the healthcare.gov website. This tax actually tempts me to pity insurance companies. They should demand a refund since they are paying for a site that is destroying their business. Of course, on the “bright side” they are selling a lot fewer policies so they are not having to pay as much.
- 2.3% medical device tax so that people who need life-saving devices must pay the Federal government a cut in order to live.
- Income tax deduction for medical expenses used to be allowed when they exceeded 7.5% of your income. Under the Affordable Care Act, you can only deduct expenses that exceed 10% of your income.
- “Under ObamaCare, individual tax filers earning more than $200,000 and families earning more than $250,000 will pay an added 0.9 percent Medicare surtax on top of the existing 1.45 percent Medicare payroll tax.”
- A new 3.8% tax on “unearned income” (a term out of the dictionary of Marxist Hell) such as “investment dividends, rental income, and capital gains” [Oxford comma inserted].
Side note on that last point: Shouldn’t a tax on “unearned income” tax welfare payments and food stamps? I’m not advocating such taxation; just asking about the terminology.
All of these taxes are hitting us in addition to the “fees” included in the Ryan budget scam.