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Obamacare Penalty to Hit One Million Low-Income Americans

iwannabeacowboy

Well-known member
Roughly one million low-income Americans will pay a fine under Obamacare, according to the Congressional Budget Office (CBO).

The CBO estimated that four million people would pay the individual mandate penalty for not having health insurance by 2016 as a result of the president’s health care law, according to a report released last week,

[/b]A chart accompanying the report revealed that 200,000 of those paying the penalty earn less than 100 percent of the poverty line. An additional 800,000 are considered low-income, earning between 100 and 199 percent of the poverty level.[/b]

President Barack Obama was once critical of an individual mandate precisely because of its effect on low-income Americans. During a primary debate against Hillary Clinton, then-candidate Obama criticized the idea of a mandate for imposing fines on people who could not afford health insurance.

“You can have a situation, which we are seeing right now in the state of Massachusetts, where people are being fined for not having purchased health care, but choose to accept the fine because they still can’t afford it even with the subsidies,” he said. “They are then worse off, they then have no health care and are paying a fine above and beyond that.”

This year Americans opting to not purchase health insurance will pay a $95 fine or 1 percent of their household’s adjusted gross income—whichever amount is greater. By 2016, the minimum fine will be $695 or 2.5 percent of the household income.

In addition, the report estimated that under Obamacare 30 million Americans will still be uninsured by 2016.



http://freebeacon.com/issues/obamacare-penalty-to-hit-one-million-low-income-americans/
 

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