Quote:
Originally Posted by ZeroJunk
If you don't understand how it works just say you don't understand how it works.
Twenty million people were insured under the ACA that were previously uninsured. That number can be argued, but it is the number being used by those trying to figure out what to do now.
Where exactly do you think that money is coming from ?
Savings ?
Young healthy participants ?
Insurance companies ?
The "rich" ?
Or maybe the huge increases in insurance costs for everybody 400% above the poverty line that is not being paid partially or totally by the government.
|
No, you don't know how it works. In your defense, it's sort of complex, and there are a lot of moving parts.
First of all, a large number of the poor have gained medicaid coverage. Your premiums have nothing at all to do with them. That funding is 100% tax.
Beyond that, your premiums go into a cost sharing pool run by the insurance companies. Who money is 'transferred to' depends on who gets how sick, not their financial status. You aren't subsidizing the poor, per se, with your premiums. You are subsidizing the sick. (This assumes no big health problems in your own family. I assume you'd actually prefer to be losing, not 'winning,' in the insurance pool, given the downsides of winning.) Premiums are up because the pool has to cover more people with more things covered than before.
Where you subsidize the poor is with taxes, as I've been saying. To the extent that the ACA has increased your taxes, you have an issue, if you dislike the idea of helping the poor. The ACA has lots of tax provisions. I suggest you read up on them here:
http://www.taxpolicycenter.org/brief...-care-act-make
This will give you an idea 'where the money comes from.' Depending on your personal situation, it will give you an idea of the tax impact of the ACA on your family personally. It's especially likely to be noticeable for you if your family has more than $250,000 income per year, with a large part of that being your net investment income.