Obamacare

Obamacare idiocy: Work more hours, get less health insurance

Monday, August 05, 2013 by: J. D. Heyes
Tags: Obamacare, work hours, health insurance

eTrust Pro Certified

Most Viewed Articles
Popular on Facebook
BACK INTO THE CLOSET: Why U.S. reporters are not allowed to write about rainbow events in nations where being gay is still condemned
Depopulation test run? 75% of children who received vaccines in Mexican town now dead or hospitalized
A family destroyed: Six-month-old dies after clinic injects baby with 13 vaccines at once without mother's informed consent
Biologist explains how marijuana causes tumor cells to commit suicide
INVESTIGATION: Three days before Dr. Bradstreet was found dead in a river, U.S. govt. agents raided his research facility to seize a breakthrough cancer treatment called GcMAF
BOMBSHELL: China and America already at war: Tianjin explosion carried out by Pentagon space weapon in retaliation for Yuan currency devaluation... Military helicopters now patrolling Beijing
Companies begin planting microchips under employees' skin
BAM! Chipotle goes 100% non-GMO; flatly rejecting the biotech industry and its toxic food ingredients
ECONOMIC SLAVERY FOR ALL: While we were distracted with the Confederate flag flap, Congress quietly forfeited our entire economic future via fast-track trade authority
NJ cops bust teenagers shoveling snow without a permit
McDonald's in global profit free fall as people everywhere increasingly reject chemically-altered toxic fast food
March Against Monsanto explodes globally... World citizens stage massive protests across 38 countries, 428 cities... mainstream media pretends it never happened
Italian court rules mercury and aluminum in vaccines cause autism: US media continues total blackout of medical truth
SCOTUS same-sex marriage decision may have just legalized the concealed carry of loaded firearms across all 50 states, nullifying gun laws everywhere
Orthorexia Nervosa - New mental disorder aimed at people who insist on eating a clean diet
Vicious attack on Dr. Oz actually waged by biotech mafia; plot to destroy Oz launched after episode on glyphosate toxicity went viral
Nearly every mass shooting in the last 20 years shares one surprising thing? and it's not guns
Holistic cancer treatment pioneer Dr. Nicholas Gonzalez dies suddenly; patients mourn the loss of a compassionate, innovative doctor who helped thousands heal from cancer
Delicious
(NaturalNews) The Oct. 1 kick-off date for Obamacare is rapidly approaching, and with each passing day, more Americans are finding out just how badly it is going to affect them and their families.

In recent weeks, for example, state after state has announced that insurance rates for residents are going to skyrocket; many insurance companies have said they won't participate in the health care exchanges called for under Obamacare; and employers have said they are cutting hours and jobs in order to keep their own health insurance costs down.

The more you make, the worse off you will be

Now, according to a new analysis, if you work more hours, you are going to get less in terms of Obamacare "benefits" - a revelation that, no doubt, will lead some workers to cut back on their extra time so they don't lose even more money.

"Working more can actually leave you worse off," the price-comparison site ValuePenguin.com said in its analysis.

"It's sort of an absurd scenario," Jonathan Wu, the site's co-founder, said. "It's something for people to be aware of."

Per CNBC:

In that scenario, an individual or family whose annual income surpasses maximums set by the federal government - if only by $1 - will totally lose subsidies available to buy health insurance under the Affordable Care Act.

The loss of those subsidies in some cases will mean that people potentially would have been better off financially if they had worked less during the year, Wu said. And they then would have to work significantly more to make up for the lost subsidy.


So, not only is Obamacare having a net negative effect on employment, now it's going to impact American productivity as well.

"I think they'd be surprised to see how drastic it is," Wu told CNBC. "I'd be kind of shocked to see if I make $100 less (in total income each year), I get all these benefits, but if I make $100 more, I get nothing."

Continuing, Wu said, "You basically don't want to fall in that hole." He added that he thought contractors and those with more control over their own incomes might be liable to adjust their hours so they can avoid plunging over the subsidy cliff.

Wu also said that due to lower premiums being offered to younger people, the net effect will be more noticeable to older Americans. But, he said, "you will see it across all age groups" in the seven states, including Vermont and New York, where insurance premiums are either banned from being affected due to age or are restricted from being affected dramatically.

This is just the beginning, folks

More from CNBC:

Under the ACA, federal subsidies in the form of tax credits to buy insurance on new state health insurance exchanges will be available to millions of people who can start enrolling on those exchanges Oct. 1. The subsidies are available to people or families whose incomes total 400 percent above the federal poverty level or less, and are designed to cap their insurance premiums at 9.5 percent of their total income.

When you do the math, the FPL income for a single person maxes out at $45,960 per year. Maximum amounts are ratcheted upward for couples and families until they max out at $94,200 for a family of four.

The ill-effects of Obamacare's confusing labyrinth of regulations, rules, penalties and fines is just now being felt, some three years after the 2700-page law was passed. As time goes by, Americans will continue to discover just how much Obamacare will be used to control our lives, control our money and control our medical destinies. It's not going to be pretty, but unless or until Congress is pressured enough to defund this beast, expect to see more Obamacare outrages in the future.

Sources:

http://www.cnbc.com

http://www.valuepenguin.com

http://www.naturalnews.com

Follow real-time breaking news headlines on
Obamacare at FETCH.news
Join over four million monthly readers. Your privacy is protected. Unsubscribe at any time.
comments powered by Disqus
Take Action: Support NaturalNews.com by linking back to this article from your website

Permalink to this article:

Embed article link: (copy HTML code below):

Reprinting this article:
Non-commercial use OK, cite NaturalNews.com with clickable link.

Follow Natural News on Facebook, Twitter, Google Plus, and Pinterest

Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

GET SHOW DETAILS
+ a FREE GIFT

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of NaturalNews.com, the internet's No. 1 natural health news site. (Source: Alexa.com)

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.