In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS's assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
Lest anyone thing that the IRS's numbers are totally without merit, take a look at this report by the Commonwealth Fund shows that average health insurance premiums for a family of four rose from $9,249 in 2003 to $15,022 in 2011. That is an increase of $5,773 or 62% in just 8 years. (Ironically, the Commonwealth Fund believes that Obamacare will "moderate" costs--apparently they are not reading their own research).
Bear in mind that announcements are already rolling in of double digit premium increases for this year alone. Do you really think that Obamacare is actually going to lower costs with all those extra mandates? Think about that.
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