In a bold move to look like your cool uncle who sadly still rocks the mullet, Donald Trump has removed the Obamacare tax penalty for not carrying insurance by way of executive order. This was probably one of the more hated parts of a plan that was not at all the single payer (or even public option) platform Obama ran on in 2008. Despite holding a majority for two years in both houses, the ACA was what we got stuck with.
What Exactly is ACA?
The GOP’s recent drubbing in the Senate was well earned; in their repeal/replace debacle, they had a “continuous coverage penalty.” I’m sure their mamas were proud; it increased premiums for people buying insurance, if they had no coverage for 63 consecutive days within the previous 12 months. In other words, losing your job or your provider bailed out of the ACA, meant that you’d be facing an increase, regardless of how long you were previously covered…So thankfully, their Ebenezer Scrooge bill went south, hard!
However, this is a double edged sword; while the tax penalty is gone, many are still under insured, or uninsured. This screams the question; since we had to buy insurance, under law, why weren’t carriers, who were paid subsidies by the government, not mandated to participate for pre-determined amounts of time? If business owners were mandated (over 50 employees) to provide benefits, why weren’t carriers mandated to stay in a plan that they made billions from?
That’s more than I have room for here. However, consider this; you have a break in your taxes but you still need coverage. Alternative methods include non-profit, reference based pricing organizations that can provide quality health care for as low as $100 a month. What is reference based pricing? Simply put, if I ask the Blues (Shield and Cross) if they ever find errors in billing, they’ll say, “NO!” Ask Medicaid if they find errors and their answer is always.
In reference based pricing, the carrier rides the provider like Zorro. I know of one case where a woman had an $80,000 knee surgery knocked down to $17,000 through Christian Healthcare Ministries. She had this plan while unemployed, covering her and her husband for $150 a month! Even after she got another job, she kept the plan because it cheaper than her employer paid health plan. A 20% deductible on $17,000 is less than on $80,000…
5 Cryptos Set To Soar For 2022 Expert reveals the strongest cryptocurrency investments for 2022 (NOT Dogecoin...)
Watch this video from Fox News regarding the ACA reform:
There secular versions like Medical Cost Share. Companies have been using this for years and with these lower cost non-profits, available to self- employed and unemployed people, we don’t need no stinkin’ ACA…
The statements, views, and opinions of any article, contribution, editorial, or advertisement in this publication are not necessarily those of The Capitalist or its editorial staff, and are not considered an endorsement, sponsorship, or recommendation of any referenced product, service, issuer, or groups of issuers.
This publication provides general information about certain subjects, and should not be construed or taken as advice (legal, financial, investment, tax, or otherwise). Do not construe or take any information in this publication as a solicitation, offer, opinion, or recommendation to buy or sell any securities, bonds, or other financial instruments or to provide any legal, financial, investment, tax, or other advice or service about the suitability or profitability of any financial instruments or investments.
The Capitalist disclaims any liability for the accuracy of or your reliance on any statements, views, opinions, or information in this publication.
How to Diversify Your Savings in Uncertain Times With GOLD: With interest rate hikes, geopolitical unrest, increasing national debt, and inflation on the rise, there is no time like the present to protect the purchasing power of your savings with precious metals.
If you're looking to live the dream life that you deserve, Click Here Now!