2013
Did you know a family of five earning $94,000 a year can receive a tax credit of $4,099 (which covers 31% of the overall average Silver plan premium) for health insurance in an exchange, but if the same family earned just $500 more a year they lose the entire credit and must pay 100% of the premium. In other words, you need a $4,100 raise to break even.
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- Paying premiums in a health insurance exchange; tax credits and income tax – Questions and Answers (quinnscommentary.com)
QUINNSCOMMENTARY 
Interestingly, a reduction in pay can also cost you. What a world we live in, eh? For example, if you live in Texas and you are a family of four, earning about $23,500, you can get maybe $14,000 or $15,000 a year in federal tax credits towards your public exchange coverage. Take a $500 to $1,000 reduction in pay, drop below 100 percent of the federal poverty level, and the entire subsidy is eliminated!
So, expect to see people lie and claim higher incomes, say, baby sitting wages they never earned, to keep the credits flowing. Watch em lie and claim more income on their 2014 tax return.
The law was, is, and will continue to be crap! Worst of all, as president Clinton alluded to this week, the law destroys our crummy, but maybe workable status quo. Starting next year, there is no going back.
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