Great fall of America EARN LESS, GET MORE - Under the Affordable Care Act, someone making less than 138 percent of the poverty line qualifies for Medicaid, and someone between 138 and 400 percent of the poverty line is qualified to receive a federal tax subsidy for health insurance bought on a government exchange. o But here is the problem: premiums will rise for millions of Americans because of requirements that policies provide certain benefits that they didn’t offer before. This means plenty of people will now have a pricier plan, and no way to defray the cost. o According to a study recently released by the American Action Forum, health insurance premiums for young people will rise in all 50 states under Obamacare, with an average increase of 260 percent. o But these new insurance price increases might cause the U.S. labor force to keep shrinking. Back in 2007, 66 percent of Americans had a job or were actively seeking work. Today, that number is at 63.2 percent — the lowest level since 1978: o Why have so many workers dropped out of the labor force and stopped actively seeking work? Partly this is due to sluggish economic growth. But research by the University of Chicago’s Casey Mulligan has suggested that because government benefits are lost when income rises, some people forgo poor jobs in lieu of government benefits—unemployment insurance, food stamps and disability benefits among the most obvious. The disability rolls have grown by 13% and the number receiving food stamps by 39% since 2009. o Meanwhile, Kathleen Pender at the San Francisco Chronicle had some Obamacare-related financial advice for her readers on Saturday: Consider reducing your 2014 income by working just a bit less, because doing so could get you a huge health care subsidy. Credit to Herman Cain website for the details : caintv/how-obamacare-subsidies-incent
Posted on: Tue, 15 Oct 2013 17:18:57 +0000
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