It's the greater of $95 or 1% of your income in 2014, rising to 2.5% of your income in 2016. I think it is 2% in 2015. I happen to agree with you though, if I was young I wouldn't pay 4 times my current premium. I would wait until I got sick and then get insurance. All they can ask you are three questions: How old are you, do you smoke, and where do you live. There is no way the young healthy are going to step up and pay a huge increase to support the old and sick, nor should they. On Deck we can agree to disagree.
Are you telling me that you don't believe a large tax increase will affect consumer spending? For some people the obamacare premium increase will exceed the amount of federal income tax they are already paying. If you truly believe this has no affect then you need to go tell your mom that you are staying at home permanently.
I'm predicting a colder than usual winter but the consumer is going to be tapped out. Under Obamacare rates are going up tremendously, especially for the young. As I've ponted out on here last week my 27 year old son's premiums are going from $66 a month to $254 per month, even after the tax credit. That's a premium increase which is more than his 2012 or 2013 federal income tax bill. Look at Obamacare like a tax, and it is a large one on some people, not so bad on others. It will change consumer spending and that will start when the first premiums are due in December reflecting this increase. Also, look at what coach said this morning about the consumer. Not shaping up to be a pretty picture for DECK.
Appears that someone figured out or found out that earnings are a miss and guidance is likely bad as well. Too much weight to allow that sping to rebound.
I'm glad they got coverage but don't think it's up to the 20 and 30's like my son to pay for it for them. It's a matter of fairness. My son will go without rather than pay the exhorbitant premiums as will most in that age. That's why Obamacare is doomed to fail, without the young paying triple their current rates the actuarial assumptions won't work. I'm interested in the outcome of a
CA case as well, challenging the collectibility of the penalty "tax".
As you may recall it originated in the Senate as a "penalty". They kept telling us over and over it was not a tax. Then, the Supreme Court said you could not penalize people for not buying insurance but you could tax them. Suddenly, that provision became a "tax". Problem is that taxes must originate in the House under the Constitution. The Senate provision was appended to a House Bill but it did not originate in the House. They didn't think it needed to back then because they were looking at it as a penalty. Looking forward to the outcome.
Agree on the college and 20 age "invincible" mentality. Isn't it ironic though that someone who is trying to do the right thing and buy insurance on his own at $66 a month will no longer be able to afford it at $254 to $290 a month and will have to go without and pay a penalty that in 2016 will become 2 1/2% of income? On $40K earnings that is $83 a month, on $80k that is $166 per month. So, insurance now at $66 per month and after Obamacare, no insurance and a penalty of $80 or so per month. His policy had been in effect for two years so it was not grandfathered and Blue Cross is terminating that policy in 2014 by the way.
Agreed, but add to that the financial drain of Obamacare which will act like a tax on people. This will drastically reduce what people have to spend. One example is the family in CA which has been on the news channels (they interviewed the man) saying his family health coverage increased by $10,000 per year. Another example, close to home, is my 27 year old son. He has great coverage with a $500 deductible, low co-pays for doctor visits and drugs, and pays $66 per month currently. That's a Blue Cross Policy but it is not grandfathered. When he has to replace it, the same Blue Cross policy will cost him $290 per month. He does qualify for a $36 per month tax credit meaning his increase is ONLY $188 per month. This is repeating itself nationwide and will possible put the US back into recession. In many cases the Obamacare caused premium increases will exceed the income taxes already being paid by these families. Don't underestimate the decline this will cause in purchasing.
How low will it go? Is this an earnings link or option expiration related? If they indeed did miss earnings for Q3 I see 40's because 4th quarter is going to be a bust nationwide for consumer items.
Put your cake in the oven and watch it fall, LOL. With this weak action on a 200+ day with Zacks rating outperform yesterday, does not bode well. After earnings miss, 50's or 40's if they miss badly.
Look like they are beyond screwing it up now. Doesn't bode well for DECK, however, up 14 cents on a 200 dow up day. When the market corrects I see a big drop coming. Off topic has anyone looked at how the ACA will affect you individually?