ObamaCare and how many hours “should” you work…

This would be funny if it were not so SERIOUS!!!

As soon as ObamaCare is fully implemented, YOU will need to be VERY careful how much money you earn.

Here is an Independent Aanalysis by Value Penguin.  But to make a long story short, in the future, it will be possible to LOSE Thousands of Dollars in disposable income, IF you EARN $1 more at your job!!!

A family of three in New York

One interesting fact about New York State is that insurance operates under a community rating. Individuals of all ages pay the same amount for insurance. On the New York individual exchange, couples will pay 2x the individual rate, and families of all sizes will pay 2.7x the individual rate. Using insurance premium data released by the state, lets calculate the pre and post 400% FPL impact on health insurance expenses for a family of three in New York, NY.

From the premium data we can see that the second lowest silver plan (this is the plan used to determine subsidies) available on the exchange from Freelancers costs $394.58 for an individual and will cost $1,065 for a family monthly. On an annual basis, this plan would cost $12,784 before subsidies. As we stated above, if the family above earns less than $78,120 they will only be required to spend $7,421, with the government subsidizing the rest. That’s a total savings of $5,363! 

$78,120 – $7,421 = $70,699 of take-home income after health insurance.

What happens if the family earns $78,121 dollars? Suddenly they lose the entire amount of the savings and are actually worse off than they were before. 

$78,121 – $12,784 = $65,337 of take-home income after health insurance.

In fact, assuming the family of three wanted to keep the same plan they would need to earn $83,483 just to get back to where they were before.

$83,483 – $12,784 – $70,699 of post health insurance income.

Working more can actually leave you worse off.

HAHAHAHHAHAHHA…you earned $1 too much……….jokes on YOU!!!!

This is but one example of the “quirk” in Obama and the Democrat’s Healthcare plan.  Check the link above for more.

ObamaCare….the gift that keeps on giving…..

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