Nancy and Co. got their wish. The Health Care Bill passed. People across the country are showing up at doctor's offices and calling insurance agents asking for their Obamacare. But how could they possibly know that benefits wouldn't kick in until 2012? This thing had to pass for us to know what is in it.
So no "benefits" until 2012, but fines and taxes start immediately. Starting this June, tanning salons will pay a stunning 10% tax on top of the taxes they already pay. What gives the government the right to single out a specific industry for an arbitrary tax? And who visits/owns tanning salons? It's not dark-skinned people. So this is a tax targeting white Americans. Could you imagine the outrage if the government slapped a 10% tax on hair braiding salons?
Several large businesses including Caterpillar and AT&T say that the tax on retiree drug benefits alone will cost them billions.
Beginning this year, insurers must offer coverage for "children" up to age 26. I was married with 2 kids on the way at age 26! Somehow I don't see this lowering costs.
In 2013, contributions to Flexible Savings Accounts (FSA's) will be limited to $2500. These accounts allow people to put away pre-tax money to pay for their own medical expenses. Here they go, limiting our ability to take care of ourselves.
Starting in 2011, you will prohibited from using your FSA to pay for over-the-counter drugs.
Also in 2013, a 2.3% excise tax on medical device manufacturers. Another tax on US manufacturers- sounds like a great way to keep US jobs. Says Ernie Whiton, chief financial officer of Chelmsford’s Zoll Medical Corp., which employs about 650 people in Massachusetts, "This bill is a jobs killer".
Higher premiums for young people. The bill bars insurers from charging older people much higher premiums than younger people. It is estimated that this will raise premiums for people in their 20's and early 30's by about 17%.
More to come....
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