Also to note, private health insurance is not taxed...but when it's federalized through Obamacare, these so-called 'fees' or 'penalties' are TAXES! And reiterating the industry experts, that tax will be passed on to the consumer.TheHill:The Internal Revenue Service on Friday unveiled its proposal to raise tens of billions of dollars through annual fees on health insurers, prompting fierce criticism from industry groups who warn the costs will be passed along to consumers.
The proposed rule from President Obama's healthcare law will be published for public consideration in Monday’s Federal Register.
The rule would assess annual fees on most insurers that would total $8 billion next year and rise thereafter, eclipsing $14 billion in 2018, according to the IRS. The fees would vary in size, depending on a firm’s net premiums, and would come due by Sept. 30 every year.
Insurers that don’t pay on time would face penalties of $10,000, plus $1,000 for every day they miss deadline.
America's Health Insurance Plans (AHIP), the leading trade group for the insurance industry, blasted the fees as a tax that would exceed $100 billion in the next decade and hit average families still struggling to rebound from the economic recession.
The group estimates that an average family’s health insurance would rise by more than $300 next year, with that total surpassing $500 in subsequent years.
All those fools who thought their preventative care and contraceptives were free, while their premiums were rising to cover that mandate...how are they gonna feel about this? Of course, we know how Obama will explain it: he'll say it's all the insurers' fault, they're greedy, and that the government will save you.
Time to wake the hell up, folks.
