Community Corner

Could You Afford $20 Grand a Month for Health Insurance?

According to new rules released last week by the IRS, by 2016 you might have to.

Some conservative news organizations have taken a close look at new rules released by the IRS recently on the new health care regulations and found them wanting … wanting much more, in fact, by 2016.

According to Breitbart.com, the IRS estimates that by 2016 the cheapest Obamacare plan will cost $20,000 for a family of five.

That would be for a bronze plan. Other plans offered go up from there to silver, gold and platinum. The IRS used as an example a family of five earning $120,000 a year.

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If no family members had insurance, they would be subject to a “shared responsibility” penalty putting them into the Bronze plan.

The tax penalty for that is $2,400 a month or $20,000 a year. Read the IRS regulations here. Alert, there is a lot of reading - examples of plans begin on page 56.

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Weigh in on these new rules now released. Do you think your family will be able to afford these costs for health care by 2016?


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