Comment: complementing the recent CBO report that the American economy will lose 2.5 million worker-equivalents due to Obamcare, here’s another Obamacare reason to work less and not bother trying to get ahead…
“The Obamacare subsidy cliff is so steep that if you earn just $1 above the threshold, you could end up paying anywhere from a few thousand dollars to $20,000 more for insurance, depending on your age.”
“Take the case of a couple of 55-year-olds living in St. Croix County, Wisconsin, where the median household income is a little over $68,000.”
“Let’s say that they earn $62,040 in 2014. They would pay $211 per month for the cheapest Obamacare plan available on healthcare.gov[.]”
“But if they earn $62,041–just one dollar more–they would pay $1,342 per month. That’s an extra $13,572 per year for the same bare-bones insurance plan[.]”
[...] “For a couple of 64-year-olds, who are a year away from qualifying for Medicare, falling over the subsidy cliff could cost more than $20,000.” (emphasis added)
Watch Out for Obamacare’s Subsidy Cliff: Earn $1 More in Wages, and You Could Pay $20,000 More for Insurance
The Weekly Standard, John McCormack, 2/5/14