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Well said, Escort Rider. I am amazed at the growing number of people of all backgrounds who are looking for a free handout. That isn't what made America great.
Well, you have to look at the tax rates in those European countries. I thought I saw it as somewhere between 60-70% for the average citizen (80% in Finland). That is cradle to grave higher education/medical/pension. Now, from what I see, standards of living - big houses for everyone - I have a big house - are not affordable for most. Granted, they have their flats and smaller cottages.
As an aside, in order to be an emigre retiree in Switzerland, you need an income of $100k, and must pay at least 30% of that in taxes every year.
Frankly, if I had the basics met, I wouldn't necessarily mind the high tax rates. Right now, I have a big house and big financial responsibilities which I'd rather be rid of.
So, it all depends on how much retirement income/assets you have. If you don't have much, then the cost of medical insurance is hard to bear, bordering on onerous. OP will be retiring with very little, it sounds like. $300/mo for health coverage, for Medicare and either supplement or Advantage, will be burdensome.
When I worked, I was on a high deductible health insurance plan through my employer for $40/mo. and put $3,700/yr into an HSA. Now, with an income at 45% of what I had when I worked, if I had a supplement, I would be paying $300/mo. including SS Part B. Which, right now, is why I'm on zero premium Advantage. $200/mo for supplement month, after month, after month is not acceptable to me either - yet.
EscortRider/PatSea --
Sorry, but not "well put" at all. The comments EscortRider made were very rude and uncalled for.
No where in my post did I say I was looking for a "free ride," and as a matter of fact, I indicated that $99 was not bad a all. Interesting how posts get misconstrued.
I am 57 yrs young and will be working for another 10-15 yrs more, and have worked hard all my life. The comment about other countries was made because it is true, and they have a universal health care system which is wonderful and works great. Everyone is provided medical insurance and cared for when they retire, and in some countries they all pay a single premium, ad no one is left with 20% co-pays or absence of prescription coverage, or more importantly, left with astronomical medial bills due to hospitalization.
Britain got the top score in overall ranking among the countries for health care, followed by Germany. New Zealand and Australia tied for third followed by Canada and the United States. Most Doctor's were independent and and paid directly by the government, which helped control the costs charged by hospitals and Doctors. Furthermore, it indicated the US has the most expensive health care costs and yet provide the least care.
I have no problem in paying for my health insurance which was the reason for my post because I wanted to be able to plan accordingly financially when I retire. I would like to see the dollars we do pay out of our paychecks for many years, provide us what we helped fund and the government take those dollars to help "our" country. It does upset me how seniors in this country are left with co-pays and having to purchase supplemental insurance, and yet the government spends billions of dollars supporting other countries and on ridiculous expenditures such as. . .
1. $20 Million helping students from Indonesia get masters degree.
2. $500 Million for a program to solve 5-yr old children who can't sit still in a classroom.
3. $30 Million for a program to help Pakistani farmers produce more mangos.
4. The U.S. Postal Service spent $13,500 on a single dinner at Ruth’s Chris Steakhouse.
5. A total of $1.8 million was spent on a “museum of neon signs” in Las Vegas, Nevada.
[quote=rose3408;23856876]EscortRider/PatSea --
Sorry, but not "well put" at all. The comments EscortRider made were very rude and uncalled for.
No where in my post did I say I was looking for a "free ride," and as a matter of fact, I indicated that $99 was not bad a all. Interesting how posts get misconstrued. [End quote]
You are misconstruing the basic thrust of your own post, which was a bitter complaint about "double-paying" for Medicare. I rebutted that complaint with specific information about how Medicare is funded. While you did say that the $99 was less than you had expected, you then went on to complain about it, saying that you had already paid "big bucks" by payroll deduction. If you go back and re-read everything, you will notice that I quoted the part of your post to which I wanted to respond - I did not quote the whole thing. That did not, however, distort the basic crux, tone, and thrust of what you were saying, as I am not intellectually dishonest. This partial quoting is a common practice; since many posts cover a lot of ground, posters often quote the specific parts of posts that they want to react to, whether in agreement or in disagreement. That was exactly what I did. Far from being "uncalled for", I got a number of reps for that post in addition to the one supportive comment on the open forum. As to the alleged rudeness, that is a matter of interpretation. I do not see it as rudeness. I will concede that my writing style is not at all like that of a kindergarten teacher addressing her students; I am not all sweet and syrupy, by lifelong habit.
I am 57 yrs young and I am trying to get a handle on income when I retire in 10 years. I average about 40k annually, single and divorced. According to the "Retirement Estimator" (since we don't get our statements anymore (grrr!) I will be bringing in about $1,200 a month.
As I figure in my 401k which isn't much and a very small pension (only $225 a mo.) I am trying to find out what my premium for Medicare will be.
I would like to get an average premium of what Medicare costs. In going to the web site it appears you are judged by your income. By no means will I be in high income bracket and definitely under 40K.
So what would my premium, roughly cost? What is everyone on this site paying? I'm just trying to get an idea, since I don't know too much about Medicare at this point. Mom and Dad are no here to ask.
If you were married for 10 years you might benefit from claiming on your ex's SS. If you can do some research into this area.
Back to the original question about Medicare costs. I think that in 8 more years (OP is 57), Medicare part B will be very different than $99/month. Remember that part B has increased from $66 in 2004 to the present $99/mo in 2012. That represents a 50% increase in 8 years.
A good report to read about the future of Medicare premiums that are deducted from SS benefits:
Below is an excerpt from "The Impact of Medicare Premiums on Social
Security Beneficiaries" written in 2010 by an analyst in Social Security.
"Beneficiaries are projected to need a much larger fraction of their Social Security benefits to pay Part B premiums in the future. For example, in 2011 it is projected that the Part B premium will absorb 11% of the average initial Social Security benefit in the first year of retirement, and the combined Parts B and D premiums will absorb 14% of the average initial benefit. In 2078 premiums are projected to absorb more than twice that share, with 22% going to pay the Part B premium in the first year of retirement, and 31% of the average initial benefit in the first year of retirement going to pay combined Parts B and D premiums. In the future, as in the past, low earners will need a greater fraction of their benefits to pay the Part B premium than will high earners."
> Why should a portion of the population - those over 65 - expect totally free medical care? What is so special about being 65 or above?
Agree totally. Everyone should have medical care, single payer. Just like (some countries in) Europe.
he thing is that those over 65 have been payig a tax for a long time lus premiums now ;its not single payer. When you look at single payer like just seen in senate comitteee deabte ;no one wants to pay a share . Democrats coud only get 500 billio form medicvare and then fro compnies who do not provide the insurance, uitons refused to conssider even helpig by paying taxes as income for nay contributuio by employers. No other group stepped forward.Gropus even refused to have across state compartition by insurers or allowing people who get compnay contribtuion form spendig it i the pools f cheaper than their insurance thru compnay. The truth it showed was people want they just wouldn;t support it as payig anyhting realistic lie would be required. Hillary Clinton learned that when Bill Clinton was president with her proposal which even democrats turned down.
Please get back on topic. The topic is medicare premiums
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