ObamaCare ACA Tax Penalty for 2015 & 2016

[AllenChicago]

Do you think that when ObamaScare is dismantled, people who owe the I.S.R. penalty at that time, will be granted permanent immunity from having to pay it?

 

[RayNY]

Do you think that when ObamaScare is dismantled, people who owe the I.S.R. penalty at that time, will be granted permanent immunity from having to pay it?

Depends on why/how Obamacare is ended.

We're all dead: sure, immunity granted.

Anything else: IRS will still pursue what they're owed.

 

[cowgoesMoO]

Forbes Welcome

Ann I think you have me confused with the guy who claims that STM will make you exempt. It won't and neither will my plan, but the law clearly states that the "shared responsibility payment" is not a typical tax or fine. It does not carry any weight and has no serious repercussions for not paying it. That being said, many of my clients file the unaffordable exemption, where the lowest cost plan is more than 8% of income....

The more you know about the shared responsibility payment, the less you are concerned about it. And, I haven't once claimed that the plan is the greatest plan out there, but for the same price you would be hard pressed to beat it. It is a good option for the right person. I feel like you skim over what I write, and just hear what you want to hear, because you don't want to believe that US Health has some good agents that actually help people.

I do have the plan on myself and my eight year old son, its not some limited benefit or STM garbage.

 

[Yagents]

If it's not compliant, and it's not limited benefits or STM.......then what is it?
Please don't say it's major medical.

Does it cover doctor visits when I'm sick, or RX, or urgent care when my kids have a 105 temperature on Saturday night?

Care to post a Summary of Benefits? Doubt it

 

[Tkruger]

Care to post a Summary of Benefits? Doubt it

I have stated that the mystery policy that Cow keeps referring to isn't on the site and he/she has refused to provided the SOB for this mystical plan.

 

[Ann H]

Forbes Welcome

Ann I think you have me confused with the guy who claims that STM will make you exempt. It won't and neither will my plan, but the law clearly states that the "shared responsibility payment" is not a typical tax or fine. It does not carry any weight and has no serious repercussions for not paying it. That being said, many of my clients file the unaffordable exemption, where the lowest cost plan is more than 8% of income....

The more you know about the shared responsibility payment, the less you are concerned about it. And, I haven't once claimed that the plan is the greatest plan out there, but for the same price you would be hard pressed to beat it. It is a good option for the right person. I feel like you skim over what I write, and just hear what you want to hear, because you don't want to believe that US Health has some good agents that actually help people.

I do have the plan on myself and my eight year old son, its not some limited benefit or STM garbage.

I will be respectful to you and not skim over what you say. However, I have been a health insurance agent for 35 years, and my husband is an Accountant. So, it's hard to buffalo me.

You do write in a respectful tone, so maybe you are a good agent. I can't tell you how many agents got their start from a carrier that filled their minds with one-sided viewpoints, and then the agent woke up and realized there were better options out there. Remember "hearing what you want to hear" works both ways.

Many times I have posted that the affordability exemption applies to a LOT more people than most folks realize. It's not hard to hit that threshold! There are other exemptions that can be met relatively easily.

However, explaining a valid exemption is different than claiming that the penalty "is not a typical tax or fine. It does not carry any weight and has no serious repercussions for not paying it." as you said. It does carry weight and there are serious repercussions for not paying it. The IRS will collect. If not while you are alive, then they will collect it at your death before your heirs inherit. And they will charge penalties and interest. There are two things certain in life - death and taxes.

You have referenced my prior post where I stated that an insurance company could easily use a short-term policy to create a true major medical plan, which could be attractive if there was an exemption to the penalty (or if the premium + penalty is not exorbitant). I said clearly that the short-term plan couldn't be the garbage of old, and it couldn't be sold in a manipulative way.

Why sell something without being clear about the facts? Just tell the client the truth about the penalty, exemptions, etc. Tell them the facts up front about your policy, including limitations and exclusions. Be clear about what's available in the ACA marketplace, too, including subsidies. Show them the best options. If it's best for them, it doesn't have to be sold by hiding facts, or misrepresenting tax law.

So, post the benefit summary of your plan and the rates. Go with open, transparent disclosure. Let the facts face the experts. If you do so, I guarantee that 2 things will happen - the truth will rise to the surface, and good agents will choose truth, open transparency, and best options.

 

[Tkruger]

I feel like you skim over what I write, and just hear what you want to hear, because you don't want to believe that US Health has some good agents that actually help people.

If it's not compliant, and it's not limited benefits or STM.......then what is it?
Please don't say it's major medical.

Does it cover doctor visits when I'm sick, or RX, or urgent care when my kids have a 105 temperature on Saturday night?

Care to post a Summary of Benefits? Doubt it

I have stated that the mystery policy that Cow keeps referring to isn't on the site and he/she has refused to provided the SOB for this mystical plan.

So, post the benefit summary of your plan and the rates. Go with open, transparent disclosure. Let the facts face the experts. If you do so, I guarantee that 2 things will happen - the truth will rise to the surface, and good agents will choose truth, open transparency, and best options.

Crickets..........

 

[cowgoesMoO]

Sorry, I don't check this thing much. but I'd be happy to post brochure with outline of coverage. I tried to upload, its 4mb apparently that exceeds the limit, I can email it to someone and they can upload it if there is a way around this, or maybe a MOD could step in and post it too the thread...idk

Brief explanation:

the chasis is a limited benefit plan that most of you are familiar with....also having built in CI and accident riders. What sets the premier choice plan apart is this: 1)once approved no waiting periods for any prex, as long as disclosed on app. 2)the client has the ability to upgrade to a $3000 ded. 100% coins. STM at any point. even during the middle of a claim.

-Those of you who have sold STM's before; I'm sure can appreciate the no waiting periods for prex.

-and those of you who have sold limited benefits plans before; I'm sure you can appreciate the fact that if your client does have a MM event they have a safety net, not some per day benefit, and hidden surgical schedule.

-And those of you who sell ACA plans; I'm sure you can appreciate a plan that is 50-60% the monthly premium that isn't rubbish.

Anyway, not avoiding it though. try uploading a 4MB file. it won't let you.

 

[Ann H]

Sorry, I don't check this thing much. I actually work all year round but I'd be happy to post brochure with outline of coverage. I tried to upload, its 4mb apparently that exceeds the limit, I can email it to someone and they can upload it if there is a way around this, or maybe a MOD could step in and post it too the thread...idk

Brief explanation:

the chasis is a limited benefit plan that most of you are familiar with....also having built in CI and accident riders. What sets the premier choice plan apart is this: 1)once approved no waiting periods for any prex, as long as disclosed on app. 2)the client has the ability to upgrade to a $3000 ded. 100% coins. STM at any point. even during the middle of a claim.

-Those of you who have sold STM's before; I'm sure can appreciate the no waiting periods for prex.

-and those of you who have sold limited benefits plans before; I'm sure you can appreciate the fact that if your client does have a MM event they have a safety net, not some per day benefit, and hidden surgical schedule.

-And those of you who sell ACA plans; I'm sure you can appreciate a plan that is 50-60% the monthly premium that isn't rubbish.

Anyway, not avoiding it though. try uploading a 4MB file. it won't let you.

Upload half at a time.

 

[AllenChicago]

Sorry, I don't check this thing much. but I'd be happy to post brochure with outline of coverage. I tried to upload, its 4mb apparently that exceeds the limit. Anyway, not avoiding it though. try uploading a 4MB file. it won't let you.

There's no need. Almost every brochure is online nowadays. Here's the Freedumb Life/US Health "Premier Choice" 28 page brochure.

Link to PDF: http://www.tbhealthinsurance.com/wp-content/uploads/2014/12/Premier-Choice.pdf

Common sense says that the more comprehensive a plan is, the smaller the brochure needs to be. The ACA law suffers from the same affliction as this Premier Choice brochure. Lots of pages that are filled with landmines.