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  • conservativesrule@att.net conservativesrule Dec 28, 2013 8:30 AM Flag

    WASHINGTON — Here comes the ObamaCare tax bill to hit your wallet in 2014.

     

    WASHINGTON — Here comes the ObamaCare tax bill. Ouch$$$$

    The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and on their income-tax bills.

    Most insurers aren’t advertising the ObamaCare taxes that are added on to premiums, opting instead to discretely pass them on to customers while quietly lobbying lawmakers for a break.

    But one insurance company, Blue Cross Blue Shield of Alabama, laid bare the taxes on its bills with a separate line item for “Affordable Care Act Fees and Taxes.”

    The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.

    The new taxes and fees include a 2 percent levy on every health plan, which is expected to net about $8 billion for the government in 2014 and increase to $14.3 billion in 2018.

    There’s also a $2 fee per policy that goes into a new medical-research trust fund called the Patient Centered Outcomes Research Institute.

    Insurers pay a 3.5 percent user fee to sell medical plans on the HealthCare.gov Web site.

    ObamaCare supporters argue that federal subsidies for many low-income Americans will not only cover the taxes, but pay a big chunk of the premiums.

    But ObamaCare taxes don’t stop with health-plan premiums.

    Americans also will pay hidden taxes, such as the 2.3 percent medical-device tax that will inflate the cost of items such as pacemakers, stents and prosthetic limbs.

    Those with high out-of-pocket medical expenses also will get smaller income-tax deductions.

    Americans are currently allowed to deduct expenses that exceed 7.5 percent of their annual income. The threshold jumps to 10 percent under ObamaCare, costing taxpayers about $15 billion over 10 years.

    Then there’s the new Medicare tax Up up and away$$$$$.

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