Obamacare Fact: $1 of Income Could Charge You $9,355 in Premiums
August 11, 2013
It's funny how we learn about the pitfalls of Obamacare, just months before the program begins.
This week, the IRS confirmed, "a household earning an annual income that is just $1 more than 400 percent of the Federal Poverty Level is ineligible for an Obamacare subsidy, period." The Affordable Care Act, better known as Obamacare, requires all Americans to obtain health insurance, whether from their employer, or an exchange orchestrated by their state. How much you pay for your healthcare strictly parallels your annual income. In some cases, if your annual income increases just $1, your health-insurance premiums could increase $9,355 per year.