Mr. Francis recently wrote an article outlining his experience
with the ACA. I wonder about some of his information.
Using the Kaiser Institute calculator his monthly premiums and yearly
deductible seem quite high. However, I do not know his age or actual income,
but even figuring the premium for someone 64 years old making $50,000 a year
it appears to come out less than $597 a month. Premiums decrease the younger the age. I don’t see anything, anywhere that
would indicate a $13,988 yearly deductible. It is possible that his
quotes were correct, but seem to be high.
Mr. Francis also mentions he has a pre-existing condition which affects the
premiums. Insurance companies in the exchange cannot charge anyone
more or turn down anyone with a pre-existing condition.
I do take issue with the possible $4,037 fine he quotes.
Under the ACA the maximum penalty for not obtaining health coverage for 2014 is the greater of $95 or 1 percent
of one’s adjusted gross income. There are some exceptions to having to pay any penalty. As I
understand ACA, no one is going to take your home or garnish wages.
The IRS may potentially deduct the penalty from any tax refund. I
do not believe they have even ironed this out yet. Someone who never has a tax refund would never
pay the penalty.
Not everything has been worked out with the ACA as yet. No one is going to put in jail, take their
home, garnish their wages, take their assets, etc. The plan is far from perfect, but let’s give
it a chance. I have been for a universal health care system.