Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

TheMastersNemesis

(10,602 posts)
Wed Mar 8, 2017, 01:45 PM Mar 2017

TrumpCare Would Mean Pay Full Premium For 12 Months Then Get Credit Later.

People would have to pay FULL PREMIUMS PLUS ANY COPAYS for up to 15 months before they get their TAX CREDIT. That means you won't get any money for you health care until after you have filed your taxes. So if your full premium is 1200 per month you would pay the whole thing. that would be $14,400 per month. In the end you would get a tax credit of maybe $3000.

Not receiving the monthly subsidy would throw millions off of health care immediately. Even people who theoretically could pay their full premium would probably lose health care. Then you have to add your drugs.

5 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
TrumpCare Would Mean Pay Full Premium For 12 Months Then Get Credit Later. (Original Post) TheMastersNemesis Mar 2017 OP
As much as I despise Trump, Ryan, etc., I'm not sure that is true. Not the way Hoyt Mar 2017 #1
if you are too poor to pay tax sarah FAILIN Mar 2017 #2
Not Sure You Would. Tax Credits Are Based On Pay Taxes. TheMastersNemesis Mar 2017 #3
Yes it's a refundable tax credit not a deduction mythology Mar 2017 #4
No MFM008 Mar 2017 #5
 

Hoyt

(54,770 posts)
1. As much as I despise Trump, Ryan, etc., I'm not sure that is true. Not the way
Wed Mar 8, 2017, 02:02 PM
Mar 2017

Not the way it works now, and I doubt even these callous fascists would try to change pre-payment of tax credits so that people have to wait until the end of the year to get their "subsidy."

Here's how it works now:

Introduction to Advance Payments of the Premium Tax Credit

When you enroll in coverage, the Marketplace will estimate the amount of the premium tax credit you will be allowed for the year of coverage. To make this estimate, the Marketplace uses information you provide, including information about:
your family composition
your household income
whether those that you are enrolling are eligible for other non-Marketplace coverage

Based on the estimate from the Marketplace, you can choose to have all, some, or none of your estimated credit paid in advance directly to your insurance company on your behalf. These payments – which are called advance payments of the premium tax credit or advance credit payments – lower what you pay out-of-pocket for your monthly premiums. If you do not get advance credit payments, you will be responsible for paying the full monthly premium.

https://www.irs.gov/affordable-care-act/individuals-and-families/premium-tax-credit-claiming-the-credit-and-reconciling-advance-credit-payments


If the totally inadequate GOPer flat tax credit it approved, the estimates would not be necessary above.

 

mythology

(9,527 posts)
4. Yes it's a refundable tax credit not a deduction
Wed Mar 8, 2017, 02:16 PM
Mar 2017

It's still a stupid plan that is woefully economically inadequate.

MFM008

(19,818 posts)
5. No
Wed Mar 8, 2017, 02:16 PM
Mar 2017

You should be on medicaid but states will trim services.
Doctors will refuse service.
So you still lose.

Latest Discussions»General Discussion»TrumpCare Would Mean Pay ...