"I love numbers. They're so precise"

If you were wondering what penalties, taxes, cuts were happening now that HCR was pushed through congress - please see below. I have compiled a few of them here.

Individual Mandate: The penalty for people who don’t buy health insurance.

2014: $95 or 1% of Income, Whichever is greater

2015: $325 or 2% of Income, Whichever is greater

2016: $695 or 2.5% of Income, Whichever is greater

Employer Mandate: The penalty for employers with more than 50 employees that do not offer health coverage.

$2,000 per full-time employee calculated on all employees if any employee accesses subsidized coverage in the insurance exchanges.

If the employer DOES offer coverage and if the coverage is deemed unaffordable than the penalty is $3,000 for every employee who receives subsidized coverage. (Not sure who makes the decision if it is affordable – it might be the employee.)

Financing the Health Care Reform

Cost

$434 Billion for expansion of Medicaid and Children’s Health Insurance Plans enrollment

$466 Billion for subsidies to fund insurance for individuals and families up to 400% of the federal poverty level.

$40 billion for small employer tax credits

Sources of Funding

$328 Billion (could be higher) in reduced Medicare scheduled payments and Medicare Advantage cuts.

$210.2 Billion Medicare payroll tax increases

$70 Billion from premiums for long-term care program

$69 Billion PENALTIES paid by individuals and employers who do not buy insurance

$60 Billion market share taxes on insurance companies

$36 Billion in cuts to Medicare and Medicaid Disproportionate Share payments

$32 Billion from taxes on “Cadillac” Health plans

$27 Billion taxes on brand name pharmaceutical companies

$20 Billion taxes on medical devices starting in 2013

If you would like to see the bill yourself - you can find it here.