Obamacare, the gift that keeps on giving
A couple of weeks ago I posted about how health Flexible Spending Accounts (FSAs) have been capped at $2,500 by Obamacare. The purpose of the new cap is to recover more tax revenue to pay for other aspects of Obamacare. Now that we are into open enrollment season for benefits at many employers that rude awakening is spreading.
Note that the lib argument for capping tax-free FSAs at $2500 is that affects very few people as most people set aside far less for their FSAs and are unaffected. Now let's dissect the logic. If you want to set aside more than $2500 into an account that is for uncovered medical expenses it's probably because YOU HAVE A LOT OF UNCOVERED medical expenses. So now, thanks to Michelle Malkin's brilliant Twitchy website we see the reactions of everyday Americans with special needs or special needs dependents when they are confronted with the new caps.
Not only that, insurance premiums are up for most workers and people are wondering exactly when we get to the "affordable" part of Obama's "Patient protection and affordable care act." In my case the premium only went up 3% but now the policy only covers 90% after meeting the deductible instead of 100% as previously. Paying more for less coverage. Yes, my friends it's brave new world where up is down and down is up.