2014
The Federal Poverty Guidelines for 2014 have just been released. They will be used for several purposes, including tax credits under Obamacare for 2015 premiums. At the same time the President will increase the minimum wage to $10.10 for employees of federal contractors and wants to do the same for other workers. That’s an annual increase of $5,928 for full-time workers. The current minimum wage at 7.25 is $15,080 a year, $10.10 is $21,008.
Interestingly, that kind of increase in income is enough to make an individual or couple ineligible for Medicaid and possibly reduce the insurance subsidy in a Obamacare exchange, especially where the minimum wage worker is not the primary breadwinner which most often the case.
Here is one example based on the New Jersey Exchange. In the first photo the couple earns the minimum wage, but is not eligible for Medicaid. Note tax credit.
In the photo below the couple now earns the new $10.10 minimum wage. Note the change in the tax credit. But wait, now look at the difference in the plan deductibles and out-of-pocket costs. As a result of the higher minimum wage out-of-pocket cost subsidies have also been lost.
QUINNSCOMMENTARY 
Just another shell game. Reminds me of the old fram commercial, you can pay me now or you can pay me later. Either way your going to pay.
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Somebody is always paying. That’s the part people seem to forget. After all, what the government gives is “free” right?
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I knew it. I searched the topic and found your article. Another way to make the consumers of this nation subsidize healthcare. Imagine the millions the federal government will save in subsidies and the millions we will have to spend to cover the increase in prices of all goods and services with a rise in the minimum wage.
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Somehow politicians avoid laying out all sides of the issue.
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