Saturday, October 23, 2010

CBO: Obamacare Disincentives Work

by the Left Coast Rebel

Sometimes I grow weary of reading and analyzing the malfeasance and treachery that surrounds us. I'm sure that you do too.

Aside from bankrupting the nation, bringing the quality of care down for everyone and instituting the most micromanaged government intrusion into every aspect of our lives, Obamacare also disincentives productive work. The gory details from IBD:

... the new health law will give some older households without access to employer care a big incentive not to earn too much. That’s because earning more than 400% of the poverty level would make them ineligible for subsidies that may be well in excess of $10,000 for couples.

Consider this example of a single individual age 62 in a high-cost area and no access to employer care. According to the Kaiser Family Foundation’s Health Reform Subsidy Calculator:

* At 200% of the poverty level, or $23,000 in income in 2014, an individual would get $10,750 in premium subsidies.

* At 400% of the poverty level, or $46,000, an individual would get $7,830 in premium subsidies.

* And at 401% of the poverty level, an individual would get no government support.

Just another Ivy League-overlooked, moral hazard aspect of the forced takeover of our health care industry. If we still had enough of the Founder's spirit running through our veins, there would be a revolt over this. Remember, Obamacare has nothing to do with 'improving' the health care system, it has everything to do with income redistribution.

Just how big will the comeuppance be on November 2? It's up to me and you. Cross posted to LCR.

1 comment:

  1. Les and Company:

    Look what I found this Sunday morning! Love it! Obama knows...he knows.

    From article:
    WASHINGTON – Preparing for political life after a bruising election, President Barack Obama will put greater emphasis on fiscal discipline, a nod to a nation sick of spending and to a Congress poised to become more Republican, conservative and determined to stop him.

    He is already giving clues about how he will govern in the last two years of his term.


    Donald in Bethel, CT


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