Mandatory Health Care Option Commentary?

[AZ-Tax]

When I read the following I thought, I would need to office an attorney across the desk from me:

[L]et individuals opt out of the new insurance system, without a penalty, by signing a form on their tax return acknowledging that they would then be ineligible for federal health insurance subsidies for a fixed period — say, five years.
During that time, if they had second thoughts and decided to buy health insurance, they would have no guarantee that they could find a policy or that it would cover pre-existing conditions. In other words, they would face a market much like the one that exists now. And while that’s hardly a desirable position to be in, they would have made the decision themselves, and the option to step outside the system would relieve Republican concerns about government mandates.

O yea, no problem getting those anti mandate buy health insurance taxpayers to sign the form but look out when they come after you. What, no way did you tell me I would be ineligible when I signed that form etc... Know any taxpayers like that now?

[taxea]

I'm not going to worry about this issue until the Nov elections. The entire law could be thrown out by the new Congress if we cross our fingers really hard.

[Edsel]

Pre-Existing Conditions

The new law says you can't be turned down for pre-existing conditions, therefore every American should be deliriously happy about this.

However, there were no limits placed on the insurance industry as to what they could charge for covering these pre-existing conditions. At least those who have researched are telling me this.

There's no difference in refusing me for a pre-existing condition and charging me $20,000 monthly for covering it.

On the face of it, the above is a non-topic for tax discussions. However, our role in the overall scheme is extremely pivotal. Watch and see what they expect from us.

[Edsel]

Don't Hold Your Breath

The entire law could be thrown out by the new Congress if we cross our fingers really hard.

We can hope Wahiawa but it will take more effort from the Congress to repeal than it did to pass it. And that was 2 years in the making. Furthermore, instead of this being a big plus to the "people" it is really more favorable to the big insurance lobby and medical providers than it is the "people." They were left unscathed to continue their double-digit inflation unabated. The lobbyists won on this bill, so don't think by electing a bunch of new people the law will be rescinded.

There is talk about electing a bunch of Republicans so this can be rescinded. Fact is, there is no difference as the lobbyists are the real winners regardless.of party. Maybe the best argument for electing Republicans is to create gridlock so the govt won't pass any more bad legislation. [This is not intended to be a partisan statement, actually it is quite unflattering to both parties].

There might be some hope for the requirement to issue 1099s to everyone effective for 2012, I've heard one of the congressmen who voted for the bill (but didn't read it), is now sponsoring a bill to get this requirement removed. This affects our industry big time, and the timeframe for issuing these 1099s will be early in 2013 -- of course strategically timed to be after the next presidential election.