Better Off Poor: How Obamacare Punishes Hard Work
It’s perverse to drive up the costs of someone’s health insurance—and then punish them for working two jobs to pay for it.
by Hans Bader
November 7, 2016
It’s perverse to drive up the costs of someone’s health insurance—and then punish them for working two jobs to pay for it. But that’s what Obamacare is doing to some people. It drives up the cost of their health insurance to the point where they have to get a second job just to pay for it. Then it suddenly takes away the tax credits that helped pay for that insurance if their second job pushes their income even a tiny bit above an arbitrary level.
It doesn’t gradually phase out their tax credits, it suddenly takes them all away.
As we discussed last week, health insurance costs are going up, and many people are paying more money for worse insurance than they had in the past. The cost of policies on the Obamacare exchanges will rise next year by at least 25% nationally, according to the Obama administration, and over 60% in some states.
As the New York Times points out, “Federal subsidies will generally grow with premiums, the administration says, even as rate…
 |
|