I really hope the Republicans do not mount enough opposition to repeal Obamacare. This bill is the greatest law for the American people ever. Before going any further I will state that Obamacare will deliver none of what it promised. Anyone with any common sense who isnt brainwashed by ideology knows that. But, financially, this is a homerun for the average American family.
The windfall of this bill is in the unintended consequences that is creates (an even that happens in everything the government does...do you happen to notice what the Community Reinvestment Act inadvertently created? The subprime market). This bill has a contained in section 1002 a stipulation that mandates everyone have health insurance or pay a fine. Further investigation reveals that the fine starts at $95 or 1% of your income whichever is higher starting in 2014. In the year 2016, this amount goes to $695 or 2.5%. These are individuals rates while a family has a limit of $2,085 or 2.5% of household income.
Do you all see the gold mine that is here? This bill just eliminated the need to carry that expensive health insurance. Look at all those people who have family policies through work which cost $500 or $700 a month. Now, instead of spending $6,000 or more a year, a family can spend a few thousand dollars and not worry about anything. This will save people hundreds of dollars a month. The effectiveness of this bill will be in the number of people uninsured. Hopefully, if all goes well, the number will rise to 60 or 70 million.
Before you jump out of your skin, what about the fact that you are not insured. Doesnt that put you at risk? Not really since there is also a provision against not covering anyone for pre-existing conditions. In other words, if something happens, you are still eligible for coverage. So why carry insurance until something happens? Why pay thousands extra a year for something that is not needed? Only pay the minimum fine and wait. If you are reasonably healthy, the chances are that you will not need the insurance for sometime. Luckily, when things do go awry, you still qualify.
Obamacare is a windfall for the American people. Sure it will destroy an already broken medical system. Private insurance companies will be eliminated. I am sure there will be a mass exodus of medical providers when this thing gets into full swing. And, this thing will be so expensive that the impact on the national debt will be astronomical. But none of that matters since that is how things are heading anyway. The benefit is that Americans will be saving thousands a year because of this bill.
I, for one, cannot wait to 2014 to get rid of my expensive health insurance premium for a plan that I havent used in 10 years. I will write a check for a couple grand and move on. If you are smart, you will be doing the same thing.
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