Tax Heist in Health Care Bill

Despite Obama’s promise of no new taxes, the govt. will impose 500 BILLION in new taxes upon the people and it will take 500 BILLION from Medicare patients to fund the new health care bill at a time when Medicare enrollment is expected to increase by 30%.

1. A 40%  tax on cadillac health insurance plans exceeding determined levels. Those levels are projected for 2013 to be $8,500 for self only and $23,000 for any other level

2. A $50,000 tax on failing hospitals, who fail to meet quality requirements.

3.  A 2 BILLION tax on medical devices causing a price increase for consumers. Democrats rebuffed a Republican amendment that would have exempted taxes on medical devices for children, veterans and for the military govt. insurance plan, TRICARE.

4 A 2.3 BILLION in new fees on the annual sales of pharmaceutical companies causing a price increase for consumers.

5. An increase from 10% to 20% on taxes for individuals using money from a HSA account not used for qualified medical expenses such as OTC drugs

6. A fee applied to all companies who self insure (such as Delta airlines) ,either on the company or the employee and a fee on the provider of the insurance for the company.

7. An additional .5% tax on single incomes> $200,000/ joint returns > $250,000. This will affect small business owners.

8. $52 BILLION in new taxes by way of an 8 % tax on wages will be assessed on businesses that cannot afford to offer medical benefits causing closures and unemployment.

9. 10% tax for tanning services.

10. Income taxes- The floor for medical expenses allowed to be itemized will be increased to 10% ,from 7.5%.  Seniors will be exempt until 2016

~ by riffenberg on March 29, 2010.

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