Health Insurance Premiums

[CC27]

surfered (12,727 posts)

Health Insurance Premiums

As a retired CPA, I still prepare income tax returns pro bono for friends and neighborhood widows and orphans.

One of the provisions of the Affordable Care Act was the required reporting of the cost of employer provided health insurance. It's reported in box 12a (Code DD) of Form W-2.

My most recent return was for a 40 year-old single male (the son of a very good friend). His gross wages were $25,778. The cost of his employer proved health insurance for 2025 was $7,744, which is 30% of his gross income and he has no chronic health problems. If it wasn't employer provided, there's no way he could afford coverage.

There is something terrible wrong with our system.

https://www.democraticunderground.com/100221052850

Obama care is garbage. No symphony from me. Wait, you do tax returns for orphans?

[SVPete]

OhBummer!Don'tCare, the lyingly named Affordable Care Act was never affordable.

Further, by forcing companies' health plans to conform to ACA provisions, OhBummer!Don'tCare significantly increased the cost of company health plans by hundreds of dollar per year, a hit on employees who contributed toward their insurance plan costs (ACA cost me some $1500 at my previous company, which I left in 2016).

[Ralph Wiggum]

I though 0bamacare fixed all that?

And a 40-year old with $25k in gross earnings? Is he mentally challenged or something?