Please Don't Give Me a Raise....

[Yagents]

People will decline overtime hours.
They will not take that second job.
They will beg not to get raise.
They won't look for a higher paying job
Transforming america one nipple at a time

Heritage: Poor workers will pass up better jobs to keep 'ObamaCare' benefits - The Hill's Healthwatch

 

[stuy119]

I wish there was some empirical data that accompanied that report. We know it's true, but if you have a survey of 1,100 people who would qualify for a subsidy it's much more impactful.

 

[Ann H]

I think this will be a big factor for 2-income families. Quite often, when the family has young children, the parents find that the income from the 2nd spouse is almost gobbled up by daycare expenses and the like. Now this is an even greater incentive for the family to decide that the 2nd spouse should forgo the extra income and stay home. One big problem is that the subsidy is based on the last filed tax return, which means the 2014 subsidy is based on 2012 income.

 

[Yagents]

One big problem is that the subsidy is based on the last filed tax return, which means the 2014 subsidy is based on 2012 income.

I'm getting indication that it won't be based on 2012 taxes, but instead on projected 2014 income. The client can manually reduce/increase the amount of the subsidy on the exchange to avoid clawbacks. I think the exchange application also eluded to this theme, but I'd have to take the time to review the app again. I've attached it if somebody else has time to do so.

 

[RayNY]

Everything in the app refers to expected income "this year" and "next year", even "this month". Nothing refers to a prior year, or the latest tax return. (Besides "In the past 6 months, has person x ____?")

What the draft of an application asks, and what the final subsidy will be based on, may not be the same thing.

 

[Yagents]

News from The Associated Press
----------------
the idea that getting health insurance could be as easy as shopping online at Amazon or Travelocity is starting to look like wishful thinking.
----------------
If your household income has changed in the past year or so and you want help paying your premiums, be prepared to do some extra work. You're applying for help based on your expected income in 2014. But the latest tax return the IRS would have is for 2012. If you landed a better-paying job, got laid off, or your spouse went back to work, you'll have to provide added documentation.

 

[somarco]

Face it. Obamacare was designed by idiots with no real world experience. Surprised it isn't more f***ed up than it is.

 

[GreenSky]

Face it. Obamacare was designed by idiots with no real world experience. Surprised it isn't more f***ed up than it is.

And how could it be more f*cked up?

Rick

 

[somarco]

 

[stuy119]

Reading this article:

PPACA health subsidy could trigger surprise tax bills | LifeHealthPro

And I came across this tidbit:

There are four thresholds for repaying the subsidies:

- A family of four making less than $47,000 would have to repay a maximum of $600.
- If the same family makes between $47,000 and $70,000, the amount they have to repay is capped at $1,500.
- If the same family makes between $70,000 and $94,200, the amount is capped at $2,500.
- Families making more than four times the poverty level have to repay the entire subsidy.

Oh, hey, there's no cap if you make more than 4x the poverty level, not the $2,500 cap you thought there was. Oops!