IRS reg: Cheapest Obamacare plan will cost family $20,000/yr.

Wow! What a deal. The IRS reg is here if you want to read it yourself.

The Cliff notes version -

IRS: Cheapest Obamacare Plan Will Be $20,000 Per Family

        In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under         Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for         the year.

Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.

The IRS's assumption that the cheapest plan for family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.

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“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.

Comments

[maria]

Thank you for posting this. I tried in vain to explain this to someone over the weekend who kept insisting that I was pulling this information out of a hat. Now I can not only send her the link, but post it on EverythingCroton.