[ARCHIVED THREAD] - Timeline of Tax Provisions in the House Health Care Bill (How and When They Will Get You) (Page 1 of 2)
Posted: 3/21/2010 4:33:16 PM EDT
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Timeline of Tax Provisions in the House Health Care Bill
by TF Staff Fiscal Fact No. 218 In order to finance $940 billion in new health care spending over the next ten years, the health care bill that the House of Represenatives is likely to pass this (Sunday) evening contains many spending cuts to Medicare, along with many tax increases that are set to go into effect over the next decade. Courtesy of the Joint Committee on Taxation's scoring of each of the provisions in the bill and the CBO, this Tax Foundation Fiscal Fact contains a timeline of when each of the tax provisions in the bill is set to go into effect. Some of the minor provisions are actually retroactive, whereas others such as the tax on high-cost health insurance plans (the so-called "Cadillac tax") don't go into effect until 2018. The increased Medicare tax that would for the first time expand part of payroll taxes to investment income, as well as incorporate filing status into a tax unit's liability, would go into effect in 2013. All starting dates are January 1 of that year, unless otherwise noted. This list is fairly exhaustive, meaning it includes virtually every tax provision. The major provisions, as defined as those projected to raise or lose more than $10 billion within the ten year budget window, are denoted in red. Retroactive provisions Exclusion for assistance provided to participants in State student loan repayment programs for certain health professionals (retroactive to January 1, 2009) Qualifying therapeutic discovery project credit (retroactive to January 1, 2009) – provision expires at end of 2010 Modification of section 833 treatment of certain health organizations (retroactive to January 1, 2010) Make the adoption credit refundable; increase qualifying expenses threshold, and extend the adoption credit through 2011 (retroactive to January 1, 2010) Small Business Tax Credit for certain small businesses (those meeting certain criteria) providing health insurance to employees (retroactive to January 1, 2010). In 2013, restricted only to insurance purchased through an exchange and only available for two conseutive years Exclusion of unprocessed fuels from the cellulosic biofuel producer credit (retroactive to January 1, 2010) Provisions going into effect on the date bill is signed into law Additional requirements for section 501(c)(3) hospitals Study and report of effect on veterans’ health care Provide income exclusion for specified Indian tribe health benefits Codify economic substance doctrine and impose penalties for underpayments Provision specifying that subsidies or tax credits received through health care reform will not affect individual's qualifications for other federal programs Tax Exemption for Certain Member-Run Health Insurance Issuers Tax Exemption for Entities Established Pursuant to Transitional Reinsurance Program for Individual Market in Each State Rules pertaining to how the IRS is involved in income-verification and individual status for the purposes of participation in the exchanges and subsidies received Other provisions going into effect before the end of 2010 July 1, 2010: Impose 10% excise tax on indoor tanning services Provisions going into effect in 2011 Employer W-2 reporting of value of health benefits Conform the definition of medical expenses for health savings accounts, Archer MSAs, health flexible spending arrangements, and health reimbursement arrangements to the definition of the itemized deduction for medical expenses (excluding over-the-counter medicines prescribed by a physician) Increase in additional tax on distributions from HSAs and Archer MSAs not used for qualified medical expenses to 20% Impose annual fee on manufacturers and importers of branded drugs ($2.5 billion for 2011, $2.8 billion per year for 2012 and 2013, $3.0 billion per year for 2014 through 2016, $4.0 billion for 2017, $4.1 billion for 2018, and $2.8 billion for 2019 and thereafter) Provisions going into effect in 2012 Simple cafeteria plan nondiscrimination safe harbor for certain small employers Require information reporting on payments to corporations Provisions going into effect in 2013 $500,000 deduction limitation on taxable year remuneration to officers, employees, directors, and service providers of covered health insurance providers (goes into effect in 2013, but applies to compensation for services performed from January 1, 2010 forward) Limit health flexible spending arrangements in cafeteria plans to $2,500; indexed to CPI-U after 2013 Impose 2.3% excise tax on manufacturers and importers of certain medical devices Eliminate deduction for expenses allocable to Medicare Part D subsidy Raise 7.5% AGI floor on medical expenses deduction to 10%; AGI floor for individuals age 65 and older (and their spouses) remains at 7.5% through 2016 Broaden Medicare Hospital Insurance Tax Base for High-Income Taxpayers - additional HI tax of 0.9% on earned income in excess of $200,000/$250,000 (unindexed), and Unearned Income Medicare Contribution on 3.8% on investment income for taxpayers with AGI in excess of $200,000/$250,000 (unindexed) Impose Fee on Insured and Self-Insured Health Plans; Patient-Centered Outcomes Research Trust Fund (expires after 2019) Provisions going into effect in 2014 Increase by 15.75 percentage points the required corporate estimated tax payments factor for corporations with assets of at least $1 billion for payments due in July, August, and September 2014 Impose annual fee on health insurance providers ($8 billion in 2014, $11.3 billion in 2015 and 2016, $13.9 billion in 2017, $14.3 billion in 2018, and indexed to medical cost growth thereafter); based upon firm’s market share starting in 2013 Excise Tax (i.e., penalty) on Individuals Without Essential Health Benefits Coverage Excise Tax (i.e., penalty) on Employers Not Providing Health Insurance Coverage to Employees (Shared Responsibility for Employers) Refundable Tax Credit Providing Premium Assistance for Coverage Under a Qualified Health Plan Requirement that employers report health insurance coverage Provisions specifying cafeteria treatment of employers who purchase insurance through exchange Provisions going into effect in 2018 40% excise tax on health coverage in excess of $10,200/$27,500 (subject to adjustment for unexpected increase in medical costs prior to effective date) and increased thresholds of $1,650/$3,450 for over age 55 retirees or certain high-risk professions, both indexed for inflation by CPI-U plus 1%; adjustment based on age and gender profile of employees; vision and dental excluded from excise tax; levied at insurer level; employer aggregates and issues information return for insurers indicating amount subject to the excise tax; nondeductible |
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I don't care about all that - I just wanna know when does my "$2,500/year premium reduction" start? |
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"Impose annual fee on health insurance providers ($8 billion in 2014, $11.3 billion in 2015 and 2016, $13.9 billion in 2017, $14.3 billion in 2018, and indexed to medical cost growth thereafter)" Seriously???????? Yep. Half of the democrats are stupid enough to believe that that tax will take away their ill gotten profits; that they won't just pass it on as higher prices (obama promised no tax increases on those making less than 250k right?) The other half are evil enough to know it will be passed on. They want to tax the middle class out of existence. Remember obama sat in a "church" (i.e. liberation theology/marxism hiding in religious language) that preached "disavowal of middle classedness" for 20 years. Anyone know how much the private insurance industry as a whole made in profits over each of the last five years? |
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What is the source of this information? I'm going to need it when the idiots I'm going to send this to ask. Thanks. The federal government centers for medicare and medicaid services. http://www.cms.hhs.gov/NationalHealthExpendData/downloads/tables.pdf |
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So, these companies with billions in assets whose taxes are about to go up manufacturer things right? How much more will the cost of goods that we purchase and consume increase? Who ends up paying the taxes on this again? anyone who took a freshmen econ class knows that the customers will end up bearing the burden as the taxes are passed on in the form of higher prices. |
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Limit health flexible spending arrangements in cafeteria plans to $2,500; indexed to CPI-U after 2013
Cliff notes on this please. Are they trying to limit contributions to HSA plans? prior to this you could put more, like 4,500 into flexible spending accounts (the pre tax accounts that disappear at year end if you don't use them). they reduced it. smaller tax break for you. |
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$500,000 deduction limitation on taxable year remuneration to officers, employees, directors, and service providers of covered health insurance providers (goes into effect in 2013, but applies to compensation for services performed from January 1, 2010 forward)
going after those greedy CEO's again as well |
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"July 1, 2010: Impose 10% excise tax on indoor tanning services " Hopefully those guidos won't be able to afford higher tanning fees. Oh and FTFFs. I hope bad things start happening to the people who voted this legislation in. If NJ taxed for every first pump, we would be out of debt and then some. |
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I'm firmly middle class and eliminating the tax deduction via my HSA for over the counter meds and raising the tax penalty from 10% to 20% on non-medical withdrawls amounts to a direct tax increase on my family. FU BO. every thing in this bill is a tax on producres and a handout to non-producers. "spread the wealth around" |
| OK, I have a compete Obama-bot sister-in-law that is in college and thinks she will be on her parents' health insurance ASAP- she's 23 and not covered currently by their plan- when does that under 26 dealio start- I thought she'd have the option to buy into it, but it's not free...... my wife has been digging for links to spitefully send her obama-asss-kissing-dumbass. |
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OK, I have a compete Obama-bot sister-in-law that is in college and thinks she will be on her parents' health insurance ASAP- she's 23 and not covered currently by their plan- when does that under 26 dealio start- I thought she'd have the option to buy into it, but it's not free...... my wife has been digging for links to spitefully send her obama-asss-kissing-dumbass. She is a fool. Until some links are provided. You might ask her just who will hire her with the added taxes. |
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Very well thought out… just see. This one is my favorite!
Provisions going into effect in 2014 Impose annual fee on health insurance providers ($8 billion in 2014, $11.3 billion in 2015 and 2016, $13.9 billion in 2017, $14.3 billion in 2018, and indexed to medical cost growth thereafter); based upon firm’s market share starting in 2013 Let me get this right… charge a $8-14 billion dollar fee on insurance companies. Insurance companies then raise their insurance premiums on people. Great way to lower premiums, *derff derff* “indexed to medical cost growth thereafter” Medical cost growth, is measured by how much insurance companies pay out in medical treatments. So insurance companies have two choices: 1) Change policy, and start denying claims to people who need medical care. 2) Stay with current policy, pay for care, and get an increase in the “tax” paid to the Fed, indexed by the amount of new care that was provided. Hold on a second, insurance companies can’t reject patients, because the law makes it ILLEGAL! Will medical costs increase? Maybe, considering $75 million baby boomers are about to retire, and we all know old people have medical bills. Haha oh fuck, I guess that only leaves option 2. Well there is an option 3, it’s call “go out of business”, oh wait option two also leads to that outcome… oops. Bye bye private insurance companies, it’ll take awhile, but your all dead. Obama sure thought this through, just like you said Clint. Barak Obama 2009 “I don’t think we are going to be able to eliminate employer coverage immediately. There’s going to be potentially some transition process, I can envision a decade out of 15 years out or 20 years out.” “this is no government takeover of our health care system” FAIL |
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Bye bye private insurance companies, it’ll take awhile, but your all dead. They are no longer insurance companies. Insurance companies evaluate risk. What we have now is 100% middle man, like a utility, completely controlled by government. These laws will increase cost, decrease quality, and decrease choice. 10 years from now people will be crying out for another fix. The satanic demonrat fucktards will successfully pin the blame on "insurers" and "the free market" and eliminate the middle man. Single payer. That has been the plan all along. |
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1. Tax on tanning is a tax on white people. This whole bill is little more than wealth redistribution + political power grab. Just like cap and trade. But...THATS RACIST! I propose a "tax" on certain types of fast foods, like McDonalds!!! Of course, certain groups will claim some type of bias with that considering the larger proportion of certain groups that frequent those places..... 
Seriously, though, tanning salons?? I knew about it already but considering that the frequency of skin cancer vs, oh, OBESITY/DIABETES, is fucking HUGE!! Oh, that's right, just randomly tax something that will continue revenue. |
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Limit health flexible spending arrangements in cafeteria plans to $2,500; indexed to CPI-U after 2013
Cliff notes on this please. Are they trying to limit contributions to HSA plans? prior to this you could put more, like 4,500 into flexible spending accounts (the pre tax accounts that disappear at year end if you don't use them). they reduced it. smaller tax break for you. How fucked up is that? People wanting to contribute to their own health plan and they want to reduce it.
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"July 1, 2010: Impose 10% excise tax on indoor tanning services " Hopefully those guidos won't be able to afford higher tanning fees. Oh and FTFFs. I hope bad things start happening to the people who voted this legislation in. If NJ taxed for every first pump, we would be out of debt and then some. Most of that fist pumping is from out of staters like NY. Gonna be mighty expensive to track them down and collect. 
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Here are some new taxes with pretty pictures! http://www.businessinsider.com/healthcare-bill-new-taxes-2010-3#excise-tax-on-high-cost-employer-sponsored-health-coverage-1 |
I'm past the point of being able to write this off as the Dems simply being ignorant of economics. This is so bad it has to be intentional; this is nothing short of trying to bankrupt the private health care system. They can't legislate it away, so they'll burn it to the ground.  |
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Two things jump out here: 1. Tax on tanning is a tax on white people. 2. The tax on drug imports is a tariff and will land the US in trouble with the WTO. Other countries which export drugs will be allowed to hit some of our exports with tariffs. Yep Where do you think the $4 billion for predominantly black colleges comes from 
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Provisions going into effect in 2011
Employer W-2 reporting of value of health benefits Which will now be taxed as income, in addition to ensuring you meet their standards? But "Oh, Shit!" your insurance be too good! You's gots to pay more! Fuck Fuck Fuckity Fuckers
This damn bill is making me a fucking potty mouth and that pisses me off even worse.
ETA: Poink, do you have the link to where you got that from? |
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This Healtcare cluster fuck is going to be found to be UNCONSTITUTIONAL and this whole shit barrel of a bill will be nullified as is by the SCOTUS... AC I'm praying, man, I'm praying... The only thing unconstitutional will likely be the "mandating purchase of insurance." Everything else - including the taxes and additional beaurocracy - will likely stand. So even AFTER 10 years of litigation, when the SCOTUS throws out the mandated coverage, most private insurers will be dissolved and most of the public will be SCREAMING for a public option because the private premiums are too damn expensive. Mandatory plans are thrown out, so taxes are raised a little more and people can walk into an ER whenever they feel like it to "get" coverage. De facto single payer. Everything else is just a short-term play, as the Obama quote above illustrates.
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I don't care about all that - I just wanna know when does my "$2,500/year premium reduction" start? 
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[ARCHIVED THREAD] - Timeline of Tax Provisions in the House Health Care Bill (How and When They Will Get You) (Page 1 of 2)
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