Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Your Health
  • Ron Paul
  • Bank Credit & Money
  • Dick Young’s Safe America
  • Your Survival Guy’s Super States
  • Critical Race Theory
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money

Obamacare: Trust but Don’t Verify

July 8, 2013 By E.J. Smith - Your Survival Guy

With the Health and Human Services Department ignoring its rules for when businesses must report their employees’ insurance status to the government, the Obama administration is also ignoring the verification process that is supposed to prevent Americans who already have insurance from getting subsidies. Needless to say, that’s not how Obamacare was initially sold to the American people. The Editors at The Wall Street Journal have more here.

Remember “liar loans,” the low- or no-documentation mortgages that took borrowers at their word without checking pay stubs or W-2s? ObamaCare is now on the same honor system, with taxpayers in tow.

People are supposed to receive subsidies only if their employer does not provide federally approved health benefits. Since HHS now won’t require business to report those benefits or enforce the standards until 2015, it says it can’t ask ObamaCare’s “exchange” bureaucracies to certify who qualifies either.

HHS calls this “a slight technical correction” though it is much more than that. The exchanges will not only start dispensing benefits “based on an applicant’s attestation” about his employment insurance status. HHS is also handing the exchanges “temporarily expanded discretion to accept an attestation of projected annual household income without further verification.”

In other words, anyone can receive subsidies tied to income without judging the income they declare against the income data the Internal Revenue Service collects. This change has nothing to do with the employer mandate, even tangentially. HHS is disowning eligibility quality control because pre-clearance is “not feasible” as a result of “operational barriers” and “a large amount of systems development on both the state and federal side, which cannot occur in time for October 1, 2013.”

You’ve got to love that passive voice. It’s true that coordinating and managing vast amounts of information from hundreds of millions of Americans and corporations, and monitoring compliance with more than 10,000 pages of fine-print Federal Register regulations so far, is hard to do. Yet that is the system Democrats installed when they passed the law, which is not supposed to be optional due to administrative incompetence.

Related Posts

  • Obamacare Operation!
  • Repeal Obamacare
  • Obamacare is Illegal
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Job Market Survival Advice for Graduates and for Those YOU Love - May 20, 2022
  • BUY THE DIPS? Can You Catch a Ginsu Knife? - May 19, 2022
  • PRIMARIES: Trump Endorsed Candidates’ HUGE Night - May 18, 2022

Dick Young’s Must Reads

  • DIGITAL DOLLAR DOOMSDAY: The Wall Street Journal Is NOT Going to Tell You This
  • The Clock is Ticking: You Must Protect Your Family
  • My Key West Garden Office
  • To Me There Isn’t a Better Way to Live
  • WAR HAS BEGUN: What Advice Are You Giving Your Loved Ones?
  • BEYOND RUSSIA: America Strengthens India Ties to Counter China
  • TROJAN HORSE: “Diversity, Equity, and Inclusion” is Critical Race Theory in Disguise
  • A NEW CONTRACT WITH AMERICA: Rick Scott Finally Gives the GOP Something to Run On
  • You Want the Limo, Not the Public Bus
  • Why Black Lives Matter Needs to Be Shut Down

Our Most Popular Posts

  • Tucker Carlson Interviews My Favorite Florida Farmer
  • What’s Ahead for America During Biden’s Last Years
  • MARKET CHAOS: This May Take Time, Here’s How to Prepare
  • “We Cannot Save Ukraine by Dooming the US Economy.”
  • Baby Formula Gone Missing?
  • BE VIGILANT: The Rats Are Scurrying in These Rough Markets
  • PRICES SOAR: Diesel Shortage Could Cripple America's Economy
  • Jean-Pierre: Economy "Not Something that We Keep an Eye on Every Day"
  • Biden: A National Disgrace
  • WATCHING YOU: Italy Deploys Stealth Social Credit System

Disclosure

RSS Youngresearch.com

  • Job Market Survival Advice for Graduates and for Those YOU Love
  • BULLWHIPPED? Inventory Overhang Could Slow Growth in Certain Sectors
  • BUY THE DIPS? Can You Catch a Ginsu Knife?
  • MARKET TURNING: Canada’s Housing Market Turmoil
  • “I’ve Been with Richard Young for Over 30 Years Now”
  • All-Powerful Money Managers Voting YOUR Money Targeted by Senate GOP
  • HORDING CASH: Funds Hold the Highest Level of Cash Since 9/11
  • COMMODITY CRUNCH: Will Tesla Buy a Cobalt Mine?
  • Young Americans Fall in Love with Farming, Again
  • Your Survival Guy: “Sell in May, Buy After Labor Day?”

Joe Biden – Malicious, Incompetent, a Wannabe Left Wing Ideologue?

Jean-Pierre: Economy “Not Something that We Keep an Eye on Every Day”

Job Market Survival Advice for Graduates and for Those YOU Love

The Destructive Rise and Fall of BLM

What Would We Do without the Experts?

V4 Stands Against North African and Middle Eastern Invasion

Copyright © 2022 | Terms & Conditions | About Us | Dick Young | Archives