Dang - again? Fn health ins.

[Yellowboat]

I just had a MRI and am going to have one monday( knee surgery) the 1st one cost me 2k, this one will cost me nothing, but still it hurts. That is effectively two weeks bring home.


Oh yeah I had too sell my home too pay for the surgery + recovery. I really can't take 6 months off and since I am self employed my disability rate will barely pay my power and food bills.

 

[2Driver]

I keep wondering when does it makes sense for a healthy individual/couple to drop health insurance and pay cash? A bit difficult to do when you have kids. For several years now, the gross billing of all medical expenses (me, wife, two kids) has been less than sum of our premiums + co-pays + deductibles. I wouldn't drop insurance, too much risk, but I've got to wonder about young healthy people.

The gross premiums between my portion and employer portion is nearly $30,000. Healthcare costs are out of control. It has increased much more as a % than my wage over the past 10 years (and that's getting a raise of 4-6% every year).

Many small and medium tech companies are starting to cover healthcare 100%. Seems unsustainable as the company grows.

We thought about that too and save $25k a year but then my buddy who is an incredible athlete just got diagnosed with bone cancer and will probably blow through 1M before he’s done.

We are paying for waste, lack of competition, regulation, fraud and liability payouts. If you could control the above your rates would be in half I bet

 

[sirbob]

California or Arizona based business / payroll?

California and I use Paychex to run payroll for all 4 employees.

I am the only owner but the other 3 employees are family.

 

[ONE-A-DAY]

California and I use Paychex to run payroll for all 4 employees.

I am the only owner but the other 3 employees are family.

Then a group plan is definitely and option, the info you got is not correct.

 

[ONE-A-DAY]

I am under the impression that Trump did away with the penalties for not having insurance.

Did I read or understand what he did wrong?

Thanks.

He suspended enforcement by the IRS but the law has not changed and you are still liable for the penalties as they continue to accrue. If there is a shift in power at the mid terms you will likely see the IRS go retro and collect the fines that have accrued since Trump only paused the enforcement and was unable to change the law.

 

[ONE-A-DAY]

California and I use Paychex to run payroll for all 4 employees.

I am the only owner but the other 3 employees are family.

Family is OK, they just cant be owners. The law states groups have to be at least two people, one of which is not a owner. As long as you dont have your employees leased out to Paychex, and file and pay your own payroll taxes in the company's name then you are fine to go with a business plan.

 

[sirbob]

Then a group plan is definitely and option, the info you got is not correct.

I'll be in touch - we need to talk...

 

[Sleek-Jet]

It isn't insurance, it is pre-paid healthcare.

 

[pronstar]

It isn't insurance, it is pre-paid healthcare.

True dat.

Kept my “good” heath insurance from my previous employer via Cobra for $1500/month. $1k deductible.

Then looked into wife’s “crappy” plan at her employer - $400/month, $5k deductible, then basically the same as my old plan.

No brainer, switched to wife’s plan and pocket $1100/month.

Didn’t make sense to pre-pay all that money.


Sent from my iPhone using Tapatalk Pro

 

[Dalton]

dont ask me how, but my last company (2 years ago) was free health insurance if only one person, and my new company is only 50$ a month, the deductible outside the US is 200 and in the US is 1000 (I work in Asia), seems like an ok deal.

 

[hiredgun58]

How high can this possibly go? For the last 5 years I have shifted to a lower plan and still pay more every year...

This years gift is a 14% increase - the good news is it the first time it has been lower than 20% in the last 5 years.

Who has the answer? How do I get quality care for less ? (That sounds like a BS tag line of some company!)

View attachment 685446

I am stunned, How do people survive paying those premiums ?
I know Canada isnt perfect but under $100 a month for really good care for my wife and I really eases the pain

 

[pronstar]

I am stunned, How do people survive paying those premiums ?
I know Canada isnt perfect but under $100 a month for really good care for my wife and I really eases the pain

What’s your nominal burden for income tax, sales tax, property tax etc?


Sent from my iPhone using Tapatalk Pro

 

[was thatguy]

For those crunching numbers and wondering if paying cash is an alternative for a “healthy” couple, know that Debs bills for her cancer treatments were about $1.5 million a year on average (before network adjustment). I bitched for years before that about paying for insurance we never used...them out of the clear blue sky one day...BOOM.
Think twice before going without.
Her policy could not be duplicated if I had cancelled earlier, as it was grandfathered.

Her premium for that bad ass individual Blue Shield PPO was up to $800 a month when she passed. Her annual premium cost wouldn’t equal even 1 week of treatment.
My similar ind policy was over $1000 a month when I dropped it 2 years ago and went with employer offered group plan.
Both our Blue Shields were $4000 deductible and OOP. (Typically Debs would be met by noon on Jan 1st...)

If you have a family, and are paying less than a grand a month for a PPO you are golden.

 

[hiredgun58]

What’s your nominal burden for income tax, sales tax, property tax etc?


Sent from my iPhone using Tapatalk Pro

not sure how to calculate everything , I can tell you , we pay 12% sales tax on virtually everything, property taxes run me about .05 % (average house is $1.2 mil in my area) personel income tax runs 24%
dont know how that compares with USA ?