The federal government released a new report on the cost of Obamacare and the results are troubling. The report comes from actuaries from Medicare and Medicaid. Medical costs will skyrocket rising $389 billion 10 years. 14 million will lose employer-based coverage. Millions will be left without insurance. And millions more will be may be dumped into the already overwhelmed Medicaid system. 4 million American families will be hit with tax penalties under this new law.
Four Million Americans To Pay ObamaCare Fine In 2016
Investors Business Daily
AP reports that “4 million Americans — the vast majority of them middle class — will have to pay the new penalty for not getting health insurance when President Barack Obama’s health care overhaul law kicks in, according to congressional estimates released Thursday. The penalties will average a little more than $1,000 apiece in 2016, the Congressional Budget Office said in a report.”
Penalties will be phased in from 2014. By 2016, the fine will be $695 or 2.5% of household income, whichever is greater. More than a dozen states are challenging the individual mandate in federal court as unconstitutional.
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Wild Thing’s comment…….
We knew it was bad before, and this just adds to it. I would like to know where these experts were before this monster was voted on.
More taxes, less freedom, worse healthcare. This is an improvement?
Surprise, surprise its going to cost way more than predicted…Who’d a thunk it…Barry was wrong, OMG …Really???
Anonymous, well put and very true to what is happening. Yes some improvement….not.
Mark, hahahaha exactly, we all knew they were telling lies, they always do.