New Health Plan H.R. 3962, tax, tax, tax until you die.

Well I guess the newest plan is to tax you into the grave.   First the new HR 3962 health bill wants to penalize you if you don’t buy into a “qualified plan”.  If your plan doesn’t meet their requirements, well then, you get to pay a 2.5% tax on your income (Page 297 line 6).   If you make more than $1 million in income, well then that’s another 5.4% tax (page 337 line 5).   Are you a small business that can’t afford to provide the “qualified plan” that the government wants you to provide to your employees and pay the 73% of the premium they will require you to pay?  Well then that is 8% of the employees pay in a penalty tax for you (page 313 line 6).

Oh need to buy medical devices?  Well that is a 2.5% tax on the purchase (page 339 line 14).   Yeah. Nice.

The CBO says that the average premium by 2014 will be $15,000 add that to the out of pocket expenses of $5000 and you are talking about $20,000 a year.   You pay 25% of that while the employer pays 75%.   Wow.  Sounds affordable to me.  Nice, no thanks.

The H.R. 3962 bill can be found here.

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