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“Iraqing” Healthcare : Obamacare Penalty For Not Having Healthcare To Double Alongside Premium Hikes

Friday, October 28, 2016 21:10
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(Before It's News)

Obama Iraqed the healthcare system.

Hey alright! Just when you thought Obamacare couldn’t get better…It gets better!

Nice too that the insurance companies and Pharma have so done well under the crony Obamacare system. The American people? Well, like we just said, it just keeps getting better!

(From CBS New York)

Premiums will go up sharply next year under President Barack Obama’s health care law, and many consumers will be down to just one insurer, the administration confirmed Monday.

To make matters worse, the penalty for individuals and families who did not have health insurance in 2016 will also nearly double as compared to fees for 2015 tax returns when revisions to the Affordable Care Act go into effect.

According to the IRS, shared responsibility payments will jump to $695 per adult and $347.50 per child, with the family maximum not to exceed $2,085 or 2.5 percent income above the filing threshold. That’s up from $325 per adult and $162.50 per child, with a maximum of $975 per family for the 2015 tax year.

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