$1.51 of (Spare) Change You Can Believe In…
Next week the Administration will likely attempt to trumpet the medical loss rebates that some insurers must send out by August 1. Some of these rebate checks are already arriving in the mail – in fact, we’ve seen one of them. The amount of the check?
A whopping one dollar and 51 cents.
The mailer has further information demonstrating the absurdities of this latest Obamacare flop. After the requisite propaganda message (“This rebate is required by the Affordable Care Act – the health reform law,”) the mailer goes on to add these helpful questions and answers:
Q. What do I do with the rebate?
A. Cash or deposit it. You have the choice of how to use the rebate…
I can hear champagne corks popping all across America right now. A whole one dollar and 51 cents people can use to splurge on themselves – hope you don’t spend it all in one place! Of course, if someone in Washington has to go to the bank to cash the check, they won’t be able to afford the $1.80 Metrobus fare to do so – but that’s just a minor detail. The mailer goes on:
Q. Do I need to pay taxes on the rebate amount?
A. Please consult your tax advisor, as situations vary.
Here again, people have a choice: They can either call their accountants and pay $50 (or more) to figure out whether or not they need to pay taxes on a $1.51 check – or they can take a chance, and hope the thousands of new IRS employees implementing Obamacare won’t decide to audit their tax returns next year.
Candidate Obama promised the American people change they could believe in – a premium cut of $2,500 per family per year. Now Obamacare is giving people six quarters of spare pocket change, in a vain attempt to hide the fact that the law is actually raising premiums by thousands of dollars. No wonder it’s a law the American people don’t believe in.