Sometime in the next couple of months, if not already, most of you will be receiving notices that your healthcare premiums are going up or your policy has been cancelled – again. From everything I’ve been reading and posting, I strongly recommend that you sit down before opening your notice because the sticker shock may take the legs right out from under you.
I hope you’re still sitting down because the increased premiums you just read may not reflect an added increased that will most likely result in your premiums increasing even more. In fact, according to one actuary, your premium will significantly increase even more.
Starting tomorrow, September 1, 2015, a new Affordable Care Act tax will be implemented. It’s not directed at you personally, but at the companies that provide your health insurance policies to tune of $8 billion a year and increasing to $14 billion a year by 2018.
Any policy plan reaping $25 million in premiums or more will be informed, starting today, how much of the $8 billion tax they have to pay. While that may sound like a lot it’s really not. If the average policy only cost $250 a month that adds up to $3,000 a year, meaning that the company would only need about 8,300 policy holders. But don’t forget that many people are paying a lot more than $250 a month reducing the number of policy holders necessary to put them into the tax bracket.
Read more at GodfatherPolitics