Government to TAX Private Insurance Benefit..

[ARCHIVED THREAD] - Government to TAX Private Insurance Benefit.. (Page 1 of 2)

Posted: 6/14/2009 7:01:05 AM EDT

Government to TAX Private Insurance Benefit..

Heard part of it on Fox News this morning. I'm trying to find more info on it.

Aparrently the rider to the Health Care Bill would tax what ever your private insurance pays out in benefits will be taxed.

For those of you who voted for the "O".. In other words the Government will tax you into bankruptcy if you use yor private insurance forcing people to get rid of it and get government healthcare..

Posted: 6/14/2009 7:05:40 AM EDT

[#1]

Yep I caught that benefits could be taxed under the new health plan. It just keeps getting better and better.
Those who don't freeload are being punished, and freeloaders are being rewarded.

All you assholes who voted for this clown and the liberal idiots in congress, I hope you are happy now.

Posted: 6/14/2009 7:10:15 AM EDT

[#2]

So from Pre-tax to taxed

Awesome!

Posted: 6/14/2009 7:13:43 AM EDT

[#3]

Easy for someone to do and say, that now has "free" health care for the rest of his sorry assed life.

Posted: 6/14/2009 7:17:08 AM EDT

[#4]

Its all part of forced government health care..

Posted: 6/14/2009 7:21:19 AM EDT

[#5]

Explain this to me like I'm 6

I pay $100

This would be a tax your employer would pay ? Will I have to declare this as an income at the end of the year since this policy really costs $7500 a year but my employer covers the rest?

So I would pay income tax on the $7500......the cost of the real policy?

Posted: 6/14/2009 7:26:03 AM EDT

[#6]

Quoted:
Explain this to me like I'm 6

I pay $100

This would be a tax your employer would pay ? Will I have to declare this as an income at the end of the year since this policy really costs $7500 a year but my employer covers the rest?

So I would pay income tax on the $7500......the cost of the real policy?

Of course, they want to destroy private health care.

You will have an additional $1800 in taxes on your $7500 health plan. So thats an extra $150 out of each paycheck.

Posted: 6/14/2009 7:27:07 AM EDT

[#7]

They'll tax you on your private insurance then I also heard that ofuckstick wants to penalize you on your income taxes if you DON'T carry private insurance. So what the fuck does that leave us with?

Posted: 6/14/2009 7:39:48 AM EDT

[#8]

Well I understand how the premium can be taxed but an insurance payout would never be taxed.

If your house burns down and insurance pays it is not a taxable event

If your car is totalled and insurance pays out it is not a taxable event

If you have heart bypass and insurance pays 150,000 there is NO WAY your will be responsible for 50,000 in tax on it.

At that rate NO ONE will have private insurance, EVERYONE will be on the gov't tit sucking away.

Posted: 6/14/2009 7:41:15 AM EDT

[#9]

Quoted:

Quoted:
Explain this to me like I'm 6

I pay $100

This would be a tax your employer would pay ? Will I have to declare this as an income at the end of the year since this policy really costs $7500 a year but my employer covers the rest?

So I would pay income tax on the $7500......the cost of the real policy?

Of course, they want to destroy private health care.

You will have an additional $1800 in taxes on your $7500 health plan. So thats an extra $150 out of each paycheck.

[://

Fuckers ...........so most people will choose the government run one because they won't be able to afford the private ones anymore.

Posted: 6/14/2009 7:41:19 AM EDT

[#10]

Obama can suck my schlong, worthless asshat.

Posted: 6/14/2009 7:41:42 AM EDT

[#11]

Quoted:

At that rate NO ONE will have private insurance, EVERYONE will be on the gov't tit sucking away.

There you go..........

That's what they want.

Posted: 6/14/2009 7:45:53 AM EDT

[#12]

Quoted:
Well I understand how the premium can be taxed but an insurance payout would never be taxed.

If your house burns down and insurance pays it is not a taxable event

If your car is totalled and insurance pays out it is not a taxable event

If you have heart bypass and insurance pays 150,000 there is NO WAY your will be responsible for 50,000 in tax on it.

At that rate NO ONE will have private insurance, EVERYONE will be on the gov't tit sucking away.

Never say never ...

The foundation of a perfect plan ...

If you can't pay the taxes - No problem, enroll in the Gov't Health Care Plan.
If you bitch & don't want to pay the taxes - No problem, enroll in the Gov't Health Care Plan.

Posted: 6/14/2009 7:46:50 AM EDT

[#13]

I'm not sure exactly how this would work. I've heard several different proposals. One would tax the value of the health benefits your employer pays, which would make the employer take the hit and discourage employers from even offering health plans. Another would tax the part of the premium that you pay, which is currently paid out of pre-tax income. I haven't yet heard of one that would levy a tax based on how much you insurer actually pays out on you, but that doesn't mean some dullard in DC hasn't tried that.

The most likely and most destructive option as far as I can tell, is option 1. The better your insurance, generally the more it costs...thus employers who have really good plans would get their nuts kicked in for offering too good of an insurance plan, encouraging them to buy the cheapest piece of shit they can find.

Enough people don't have adequate healthcare insurance, according to the libs...so what we need to do is make the cost of healthcare insurance for those who DO have it more expensive!

I swear, you have to be a helmet-wearing, window licking retard to come up with this shit....but you have to be beyond fucking stupid to actually believe such an idea is worthy of your support.

Posted: 6/14/2009 7:48:11 AM EDT

[#14]

Well that's fucking great!

Posted: 6/14/2009 7:49:20 AM EDT

[#15]

Wow, good thing they might tax the Benefits the insurance Co.s pay out.......that keeps the Medicaid people from having to pay taxes––-since Medicaid doesn't pay anything to the Doctors anyway....

AFARR

Posted: 6/14/2009 7:50:16 AM EDT

[#16]

Seems like some folks who voted for Barry O expressed some concern about McCain proposing to do just that in one of his health care plans. Seems like they are going to get zapped either way.

Posted: 6/14/2009 7:50:32 AM EDT

[#17]

And at the same time the gov. wants all employers to pay for health insurance. Sounds like a massive tax scheme. SHTF is right around the corner.

Posted: 6/14/2009 7:51:40 AM EDT

[#18]

McCain idea, O is against it.

Posted: 6/14/2009 7:52:26 AM EDT

[#19]

Quoted:
McCain idea, O is against it.

that was when he was campaigning.

now that he's in power there's not tax he doesn't like.

Posted: 6/14/2009 7:54:20 AM EDT

[#20]

Quoted:
Explain this to me like I'm 6

I pay $100

This would be a tax your employer would pay ? Will I have to declare this as an income at the end of the year since this policy really costs $7500 a year but my employer covers the rest?

So I would pay income tax on the $7500......the cost of the real policy?

There are two proposals AFAIK:

1. Tax employer –– if your employer pays 7,000 dollars per year for your insurance policy, then that 7,000 dollars per year would be counted as a part of your income. Your employer has to pay tax on the income they pay to you. There's a 15% tax on the income of an employee...half paid by the employer, half paid by the employee. This is what funds the big entitlements, namely Social Security, medicaid, etc. If I understand the thinking, the goal would be to either count that 7,000 dollars your employer pays for your Blue Cross insurance as income, subjecting that money to the 15% tax, or it would be a separate tax based on that 7,000 dollar value. If we assume a 10% tax rate for the sake of argument, that would mean that with a stroke of Obama's pen your insurance would now cost the employer 7,700 bucks instead of 7,000. Multiply that by 100 employees...and now your employer is shelling out an extra 70,000 dollars in healthcare expenses.

It's a pretty damn big disencentive.

2. Tax employee –– many employees pay out some of the healthcare premium for their insurance right now, and they do it with pre-tax income...meaning the deduction for that money doesn't count as a part of their income for tax purposes. The tax employee proposal would eliminate this arrangement and make the employee pay taxes on that money again either through a new tax or increasing another tax.

There's also a distinct possibility that BOTH parties will get taxed...because ultimately this is about the government grabbing as much money as they can. Screwing over employee and employer at the same time gets them more money.

Posted: 6/14/2009 7:56:52 AM EDT

[#21]

Operative word = disencentive

Posted: 6/14/2009 7:59:42 AM EDT

[#22]

Quoted:
Never say never ...

The foundation of a perfect plan ...

If you can't pay the taxes - No problem, enroll in the Gov't Health Care Plan.
If you bitch & don't want to pay the taxes - No problem, enroll in the Gov't Health Care Plan.

Nobody is going to be exempted from paying for this nonsense, just as nobody who draws a paycheck today is immune from payroll taxes. All this free shit is going to take huge chunks of money out of EVERYBODY's paycheck, including the working poor.

Liberals only talk about taxing the rich to get votes. When you examine what they actually do they tax the living fuck out of EVERYONE regardless of how much they make. Remember no increases on taxes for those who make over 250,000 per year?? ....and yet Obama's energy proposals would put higher taxes on electricity in the interest of somehow turning us fucking "green". So in reality he meant that no increase in taxation on those who make over 250,000 per year, unless you happen to use fucking electricity. It's all a shell game designed to confuse the uninformed and to promote class warfare which many people are damnably fond of. They want government to screw people who have more than they do, and that level of stupidity makes them stupid enough to believe the bullshit the pols spout about all this other stuff.

Posted: 6/14/2009 8:04:30 AM EDT

[#23]

Does anybody have a credible link to reference this? Gotta shove it in my Obama-loving Nigerian co-workers face.

Posted: 6/14/2009 8:04:36 AM EDT

[#24]

Quoted:
Operative word = disencentive

Indeed. I am literally fucking amazed how anyone could actually support the geniuses floating these proposals. I am literally sitting in fucking awe of how ANYONE could think that taxing health benefits is going to make getting coverage less expensive. Someone cannot plead simple ignorance. It's not a lack of sophistication on the part of the voters. One has to willingly suspend disbelief in order to support this nonsense. It's an article of faith. People have turned politics into it's own religion with it's own tenets of faith.

There is no other explanation. If I said that not enough people can afford milk, and to solve it I was going to put a new tax on milk, even a child could understand that I would actually be making milk more expensive and exacerbating the problem.

...and yet when we replace milk with healthcare there are scores of morons just waiting to lap it up.

I'm utterly fucking amazed.

Posted: 6/14/2009 8:05:40 AM EDT

[#25]

Quoted:
I'm not sure exactly how this would work. I've heard several different proposals. One would tax the value of the health benefits your employer pays, which would make the employer take the hit and discourage employers from even offering health plans. Another would tax the part of the premium that you pay, which is currently paid out of pre-tax income. I haven't yet heard of one that would levy a tax based on how much you insurer actually pays out on you, but that doesn't mean some dullard in DC hasn't tried that.

The most likely and most destructive option as far as I can tell, is option 1. The better your insurance, generally the more it costs...thus employers who have really good plans would get their nuts kicked in for offering too good of an insurance plan, encouraging them to buy the cheapest piece of shit they can find.

Enough people don't have adequate healthcare insurance, according to the libs...so what we need to do is make the cost of healthcare insurance for those who DO have it more expensive!

I swear, you have to be a helmet-wearing, window licking retard to come up with this shit....but you have to be beyond fucking stupid to actually believe such an idea is worthy of your support.

I disagree, you have to be pretty smart to come up with this.

ENcourage companies to cut the high dollar all inclusive plans, thus more people will flood to less inclusive plans. More people will have less covered, thus they will have higher bills and want the govt to fix it.

It is a stroke of genius

Posted: 6/14/2009 8:06:25 AM EDT

[#26]

Quoted:

Quoted:
Explain this to me like I'm 6

I pay $100

This would be a tax your employer would pay ? Will I have to declare this as an income at the end of the year since this policy really costs $7500 a year but my employer covers the rest?

So I would pay income tax on the $7500......the cost of the real policy?

There are two proposals AFAIK:

1. Tax employer –– if your employer pays 7,000 dollars per year for your insurance policy, then that 7,000 dollars per year would be counted as a part of your income. Your employer has to pay tax on the income they pay to you. There's a 15% tax on the income of an employee...half paid by the employer, half paid by the employee. This is what funds the big entitlements, namely Social Security, medicaid, etc. If I understand the thinking, the goal would be to either count that 7,000 dollars your employer pays for your Blue Cross insurance as income, subjecting that money to the 15% tax, or it would be a separate tax based on that 7,000 dollar value. If we assume a 10% tax rate for the sake of argument, that would mean that with a stroke of Obama's pen your insurance would now cost the employer 7,700 bucks instead of 7,000. Multiply that by 100 employees...and now your employer is shelling out an extra 70,000 dollars in healthcare expenses.

It's a pretty damn big disencentive.

2. Tax employee –– many employees pay out some of the healthcare premium for their insurance right now, and they do it with pre-tax income...meaning the deduction for that money doesn't count as a part of their income for tax purposes. The tax employee proposal would eliminate this arrangement and make the employee pay taxes on that money again either through a new tax or increasing another tax.

There's also a distinct possibility that BOTH parties will get taxed...because ultimately this is about the government grabbing as much money as they can. Screwing over employee and employer at the same time gets them more money.

Clear explanation , thanks

Posted: 6/14/2009 8:07:12 AM EDT

[#27]

But Obama said he wasn't gonna raise taxes to the middle class. Was he lying?

Posted: 6/14/2009 8:09:36 AM EDT

[#28]

Quoted:
They'll tax you on your private insurance then I also heard that ofuckstick wants to penalize you on your income taxes if you DON'T carry private insurance. So what the fuck does that leave us with?

It leaves you with more bills to pay.

...and you wont qualify for free gubmint healhcare unless you make no more than 150% of poverty - that's about $22,250, or so IIRC.

Our lives are now devoted for paying to better the lives those who will not work.

Posted: 6/14/2009 8:11:05 AM EDT

[#29]

Quoted:
But Obama said he wasn't gonna raise taxes to the middle class. Was he lying?

Depends on what your definition of "Taxes" is...

Posted: 6/14/2009 8:11:39 AM EDT

[#30]

You won't need to worry about this possibility as virtually all employers will drop health insurance plans as soon as national health care is in place.

This is the meaning of "Single Payer". That payer would be the federal government.

Don't count on a raise in your pay, either.

Posted: 6/14/2009 8:13:51 AM EDT

[#31]

Quoted:

Quoted:
But Obama said he wasn't gonna raise taxes to the middle class. Was he lying?

Depends on what your definition of "Taxes" is...

Lips were moving, so I would say the odds are way over 99.999 %. The trick is the diversion to make the words sound like truth.

Posted: 6/14/2009 8:14:10 AM EDT

[#32]

The difference between this and McCains idea was McCain was actually trying to chase people away from employee based insurance, to individually held insurance, by giving individuals pre-tax credits, the same credits available to corporations, to individuals. He also wanted to end the law that states that you can't buy insurance across state lines.

In all honestly, having to depend on your employer for health insurance, is almost nearly as bad as depending on government. We need to get off this never ending loop of someone else being responsible for your health care.

Posted: 6/14/2009 8:15:57 AM EDT

[#33]

Quoted:

Quoted:
But Obama said he wasn't gonna raise taxes to the middle class. Was he lying?

Depends on what your definition of "Taxes" is...

Lips were moving, so I would say the odds are way over 99.999 %. The trick is the diversion to make the words sound like truth.

Yep.

It was a reference to Clinton's famous line in the inpeachemnt proceedings...

"It depends on what your definition of "IS" is."

Posted: 6/14/2009 8:16:31 AM EDT

[#34]

Quoted:
The difference between this and McCains idea was McCain was actually trying to chase people away from employee based insurance, to individually held insurance, by giving individuals pre-tax credits, the same credits available to corporations, to individuals. He also wanted to end the law that states that you can't buy insurance across state lines.

In all honestly, having to depend on your employer for health insurance, is almost nearly as bad as depending on government. We need to get off this never ending loop of someone else being responsible for your health care.

The govt has created the terrible system we have. I agree with you, getting it through your employer is terrible. You quit and you have a prior condition, you are all but screwed.

Posted: 6/14/2009 8:20:08 AM EDT

[#35]

My parents own their own business (something like 500,00$ in sales annually). The way CURRENT healthcare is written, because they don't provide health insurance to their employees they pay taxes on their personal insurance already. It seems like politicians are stacking the deck against private insurance so that government healthcare becomes seemingly necessary.

Posted: 6/14/2009 8:21:16 AM EDT

[#36]

Oh it won't stop there.

They are furiously brainstorming new taxes to levy.

Redistribution of wealth indeed.

People scoffed about that during the campaign. Here it is in real life.

Posted: 6/14/2009 8:49:26 AM EDT

[#37]

misquoted

Very well said, this started with FDR I think, some democrat anyway, having health ins tied to your employer is a problem.

Posted: 6/14/2009 8:51:05 AM EDT

[#38]

Quoted:
The difference between this and McCains idea was McCain was actually trying to chase people away from employee based insurance, to individually held insurance, by giving individuals pre-tax credits, the same credits available to corporations, to individuals. He also wanted to end the law that states that you can't buy insurance across state lines.

In all honestly, having to depend on your employer for health insurance, is almost nearly as bad as depending on government. We need to get off this never ending loop of someone else being responsible for your health care.

Very well said, this started with FDR I think, some democrat anyway, having health ins tied to your employer is a problem.

Posted: 6/14/2009 8:52:12 AM EDT

[#39]

Quoted:
Well I understand how the premium can be taxed but an insurance payout would never be taxed.

If your house burns down and insurance pays it is not a taxable event

If your car is totalled and insurance pays out it is not a taxable event

If you have heart bypass and insurance pays 150,000 there is NO WAY your will be responsible for 50,000 in tax on it.

At that rate NO ONE will have private insurance, EVERYONE will be on the gov't tit sucking away.

The way things are currently going I wouldn't bet on anything.

Posted: 6/14/2009 8:55:27 AM EDT

[#40]

Quoted:

Quoted:
I'm not sure exactly how this would work. I've heard several different proposals. One would tax the value of the health benefits your employer pays, which would make the employer take the hit and discourage employers from even offering health plans. Another would tax the part of the premium that you pay, which is currently paid out of pre-tax income. I haven't yet heard of one that would levy a tax based on how much you insurer actually pays out on you, but that doesn't mean some dullard in DC hasn't tried that.

The most likely and most destructive option as far as I can tell, is option 1. The better your insurance, generally the more it costs...thus employers who have really good plans would get their nuts kicked in for offering too good of an insurance plan, encouraging them to buy the cheapest piece of shit they can find.

Enough people don't have adequate healthcare insurance, according to the libs...so what we need to do is make the cost of healthcare insurance for those who DO have it more expensive!

I swear, you have to be a helmet-wearing, window licking retard to come up with this shit....but you have to be beyond fucking stupid to actually believe such an idea is worthy of your support.

I disagree, you have to be pretty smart to come up with this.

ENcourage companies to cut the high dollar all inclusive plans, thus more people will flood to less inclusive plans. More people will have less covered, thus they will have higher bills and want the govt to fix it.

It is a stroke of genius

Actuually they are just FUCKING EVIL.

Posted: 6/14/2009 9:06:07 AM EDT

[#41]

Quoted:

Quoted:

McCain idea, O is against it.

that was when he was campaigning.

now that he's in power there's not tax he doesn't like.

This is correct. asswipe mccain came up with this beauty.
5sub

Posted: 6/14/2009 9:09:46 AM EDT

[#42]

The democrats are now officially on record for stating they want to completely put out of business all medical insurance companies. Apparently, the Govt which can not do a single thing correctly has a plan for socialized medicine that will work better than any other.

Lets just admit it, this is total power grab by the most corrupt govt of all time and we are not even 6 months into it yet.

Posted: 6/14/2009 10:00:05 AM EDT

[#43]

It is a stroke of genious ...

If you're the average working class (that already shoulders more tax burden than they can bare) ... then TAX their "private" health care benefits beyond affordability. Then couple that with taxing the employer for even providing it ... the old kill two birds with one stone.

Then there will no incentive to have "private" care ... AND BETTER YET - no incentive to fight or resist socialized Gov't Health Care.

The sheep will then "gladly and obediently" get in line at the Gov't clinics for their "FREE" Gov't Socialized Health Care - and give the government control of another aspect of your life - which is not such a bad thing, because everyone knows that the Gov't knows what's best for them.

Win-Win-Win for them ... the worst that can happen is they collect more taxes from the higher income classes that may be able to still afford private care.

More wins ... "Look what the Gov't did for you" ... "Look at the jobs (bureaucracy) I created" ... "We are NOW all equal ... irregardless of a race, creed, religion, work ethic, or Financial Status."

... and the SHEEP will reply ... BAA-BAA-BAA and get in line.

Posted: 6/14/2009 10:07:22 AM EDT

[#44]

Quoted:
I'm not sure exactly how this would work. I've heard several different proposals. One would tax the value of the health benefits your employer pays, which would make the employer take the hit and discourage employers from even offering health plans. Another would tax the part of the premium that you pay, which is currently paid out of pre-tax income. I haven't yet heard of one that would levy a tax based on how much you insurer actually pays out on you, but that doesn't mean some dullard in DC hasn't tried that.

The most likely and most destructive option as far as I can tell, is option 1. The better your insurance, generally the more it costs...thus employers who have really good plans would get their nuts kicked in for offering too good of an insurance plan, encouraging them to buy the cheapest piece of shit they can find.

Enough people don't have adequate healthcare insurance, according to the libs...so what we need to do is make the cost of healthcare insurance for those who DO have it more expensive!

I swear, you have to be a helmet-wearing, window licking retard to come up with this shit....but you have to be beyond fucking stupid to actually believe such an idea is worthy of your support.

Crazy (or "retarded") like a fox, my friend.

Those fuckers know EXACTLY what they're doing. Well though-out socialist agenda. Make no mistake.

Posted: 6/14/2009 10:16:18 AM EDT

[#45]

Its being pushed by the likes of Sen. Grassly..

On Fox now

Posted: 6/14/2009 10:33:50 AM EDT

[#46]

I also find it interesting that no one takes advantage of health savings accounts.

People refuse to be responsible for their own health care, they want someone else to pay for it, whether it is your boss or the gubment.

Posted: 6/14/2009 10:59:20 AM EDT

[#47]

Within 5 years, 95% of Americans will be on a crappy hybrid of Medicare/Medicaid. 5% will be both healthy and rich enough to pay for a true private health insurance policy.

But if you want the latest drugs, or the latest therapy, you will have to have some sort of supplemental policy that will pay for it. That will be the health insurance 'perk' offered by employers in the future.

And if you want timely care, be ready to pay for it out of your own pocket, in full, up front or sit in a .gov clinic for 4+ hours for your kids earache, fever, or twisted ankle.

In the end, the average patient will be screwed and screwed hard.

But we will all sleep better knowing those "45 million" (or whatever the made up number is this week) without healthcare now have it.

Posted: 6/14/2009 11:04:53 AM EDT

[#48]

Liberals are fucking morons. Employers will find a way around this. As written, the bill would force employers to do one or more of the following:

1.) Most likely scenario for large corporations, just pack up and move offshore

2.) Cut hours till all your employees are part-time so they do not qualify for health care benefits. Then hire more part-time workers.

3.) Either slash wages or significantly increase the price of goods and services

Either way, the public is in for a screwing. Great way to bring us out of a recession too. Let's tax healthcare benefits so that employees will have even less money to spend. Batten down the hatches, cause we haven't seen anything yet.

Posted: 6/14/2009 11:10:48 AM EDT

[#49]

And so it begins...

Posted: 6/14/2009 11:11:10 AM EDT

[#50]

Its all about the money.

[ARCHIVED THREAD] - Government to TAX Private Insurance Benefit.. (Page 1 of 2)

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