The $15K is straight out of Obamacare...and in some cases the cost is even higher.
irs.gov
I suggest you actually read what is there before you start throwing out the "party line". I am not a "winger", just someone who can read for myself and make my own decisions...think for myself instead of depending on "The Party" to do it for me. Get past the spin and actually read it from the link. That link is from the IRS and how Obamacare will be administrated in 2016 when it is fully implemented. Its been passed...now you can "read it to know what's in it" as Nancy Pelosi said.
Example 1. Unmarried employee with no dependents. (i) Taxpayer G is an
unmarried individual with no dependents. G is ineligible to enroll in any minimum
essential coverage other than coverage in the individual market for all months in 2016.
The annual premium for the lowest cost bronze self-only plan in G’s rating area (G’s
applicable plan) is $5,000. The adjusted annual premium for the second lowest cost
silver self-only plan in G’s rating area (G’s applicable benchmark plan within the
meaning of §1.36B-3(f)) is $5,500. In 2016 G’s household income is $40,000, which is
358 percent of the Federal poverty line for G’s family size for the taxable year.
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 358 percent of
the Federal poverty line, G’s applicable percentage is 9.5. Because each month in
2016 is a coverage month (within the meaning of §1.36B-3(c)), G’s maximum credit
allowable under section 36B is the excess of G’s premium for the applicable benchmark
plan over the product of G’s household income and G’s applicable percentage ($1,700).
Therefore, under paragraph (e)(4)(ii)(A) of this section, G’s required contribution is
$3,300. Under paragraph (e)(1) of this section, G lacks affordable coverage for 2016
because G’s required contribution ($3,300) exceeds 8 percent of G’s household income
($3,200).
Example 2. Family. (i) In 2016 Taxpayers M and N are married and file a joint
return. M and N have two children, P and Q. M, N, P, and Q are ineligible to enroll in
minimum essential coverage other than coverage in the individual market for a month in
2016. The annual premium for M, N, P, and Q’s applicable plan is $20,000. The
adjusted annual premium for M, N, P, and Q’s applicable benchmark plan (within the
meaning of §1.36B-3(f)) is $25,000. M and N’s household income is $80,000, which is
347 percent of the Federal poverty line for a family size of 4 for the taxable year.
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 347 percent of
the Federal poverty line, the applicable percentage is 9.5. Because each month in 2016
is a coverage month (within the meaning of §1.36B-3(c)), the maximum credit allowable 61
under section 36B is the excess of the premium for the applicable benchmark plan over
the product of the household income and the applicable percentage ($17,400).
Therefore, under paragraph (e)(4)(ii)(A) of this section, the required contribution for M,
N, P, and Q is $2,600. Under paragraph (f)(2) of this section, M, N, P, and Q have
affordable coverage for 2016 because their required contribution ($2,600) does not
exceed 8 percent of their household income ($6,400).
Example 3. Family with some members eligible for government sponsored
coverage. (i) In 2016 Taxpayers U and V are married and file a joint return. U and V
have two children, W and X. U and V are ineligible to enroll in minimum essential
coverage other than coverage in the individual market for all months in 2016; however,
W and X are eligible for coverage under CHIP for 2016 at an annual cost of $1,000 per
child. The annual premium for U, V, W, and X’s applicable plan is $20,000. The
adjusted annual premium for the second lowest cost silver plan that would cover U and
V (the applicable benchmark plan (within the meaning of §1.36B-3(f)) is $12,500. U and
V’s household income is $50,000, which is 217 percent of the Federal poverty line for a
family size of 4 for the taxable year. W and X do not enroll in CHIP coverage.
(ii) Under paragraph (e)(4)(ii)(C) of this section, the credit allowable under section
36B is determined pursuant to section 36B. With household income at 217 percent of
the Federal poverty line, the applicable percentage is 6.89. Each month in 2016 is a
coverage month (within the meaning of §1.36B-3(c)) for U and V, but no months in 2016
are coverage months for W and X because they are eligible for CHIP coverage. The
maximum credit allowable under section 36B is the excess of the premium for the
applicable benchmark plan over the product of the household income and the applicable
percentage ($9,055). Therefore, under paragraph (e)(4)(ii)(A) of this section, the
required contribution is $10,945. Under paragraph (e)(1) of this section, U, V, W, and X
lack affordable coverage for 2016 because their required contribution ($10,945)
exceeds 8 percent of their household income ($4,000).
Example 4. Family with some members enrolled in government sponsored
minimum essential coverage. The facts are the same as Example 3, except W and X
enroll in CHIP coverage on January 1, 2016. Under paragraph (e)(4)(ii)(B), U, V, W,
and X are members of U and V's nonexempt family for 2016. Therefore, the annual
premium for the applicable plan is the same as in Example 3 ($20,000). The maximum
credit allowable under section 36B is also the same as in Example 3 ($9,055). Under
paragraph (e)(4)(ii)(A) of this section, the required contribution is $10,945. Under
paragraph (e)(1) of this section, U and V lack affordable coverage for 2016 because
their required contribution ($10,945) exceeds 8 percent of their household income
($4,000).
Example 5. Simplified method for applicable plan identification. (i) In 2016
Taxpayer Y, a 42-year old unmarried individual, lives with her 17-year old nephew, Z. Y
properly claims Z as a dependent for 2016. Neither Y nor Z is eligible for minimum
essential coverage other than coverage in the individual market in 2016. The Exchange
serving the rating area where Y and Z reside does not offer any plan that would cover 62
them both. For 2016, the annual premium for the lowest cost bronze plan covering Y is
$5,000, and the annual premium for the lowest cost bronze plan covering Z is $4,500.
The premium for the lowest cost bronze plan that would cover individuals with the
characteristics of Y and Z that is offered in the Exchange serving the rating area where
Y and Z reside is $10,000.
(ii) Under paragraph (e)(4)(ii)(B), Z is included in Y’s nonexempt family. Under
paragraph (e)(4)(ii)(B)(2)(i) of this section, the premium for the applicable plan is the
sum of the premiums for the lowest cost bronze plans that would cover Y and Z, or
$9,500 ($5,000 + $4,500). Alternatively, under paragraph (e)(4)(ii)(B)(2)(ii) of this
section, Y may irrevocably elect to use the premium for the lowest cost bronze plan that
would cover individuals with the characteristics of Y and Z that is offered in the
Exchange ($10,000) as the premium for the applicable plan in determining qualification
for the exemption described in paragraph (e)(1) of this section. |
