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It's not broken any more. Obamacare fixed it. On 1/1/2014, all of Obamacare will be in effect. It will break again if Romney gets in the GOP repeals it.
When I was operating my own business some 30 years ago health insurance was the biggest bill I had to pay. That bill, and the collapse of the alternate energy business, was the reason I went back to work for others. FWIW - I closed the business with all bills paid.
We really need to separate health care from employment. As in my case, paying for health care forces many talented people to take jobs for others instead of running their own company. UHC would remove this block and free a lot more people to work for themselves instead of creating profit for their employers.
I suggest the OP consult a credit consoler or a bankruptcy lawyer. I also suggest he sell his cars and replace them with cheaper vehicles.
A heart attack at only 38 years of age. I take it the OP has the same eating habits as the rapper Rick Ross.
Well if someone has a heart attack at that early of an age (38). It's usually not due to bad habits (smoking overweight bad eating).
It could be due to medical reasons like diabetes (which can lead to clogginf of the arteries earlier in life) or family genetics.
Of course some people who use drugs like cocaine can also have heart attacks at an early age.
So don't assume people live unhealthy lifestyle who have heart attacks especially those at an early age. Family genetics plays a big part of the reason and also underlying medical problems like diabetes.
Of course the older you get the bad lifestyle choices (smoking obesity) will take it toll on your body. But usually not at age 38.
I recently had a heart attack at the ripe old age of 38 while I was unemployed / trying to start my own business. We now have a bill close to $50k hanging over us along with the mortgage, two car loans and all the other life expenses such as our $200.00 to $300.00 per week grocery bill... The $800.00 per month payment plan the hospital offered is not in the budget, if we had that much disposable income we probably would have had health insurance...
Along with this the doctor said I can no longer do the work required for the business we were starting because it involves manual labor out in the Texas heat.
The silver lining here is that I now have a good (office) job again and will soon have health insurance through my employer but that won't help paying off any existing bills.
I have nothing but good to say about the doctors and hospital where I stayed and I wish I could afford to pay off this debt. But at the same time I have to wonder, does it really cost that much for a stint and a few days in the hospital? And why is it that we are the only industrialized nation that does not have a universal health care program yet we can spend untold billions to send our sons and daughters off to die in illegal wars for sake of Halliburton's profit margin? We are also the only nation that allows people to file bankruptcy for medical bills and it looks like that will have to be our solution..
While the politicians continue to play political football with this issue, working class families like mine still cannot afford health care and health insurance CEO's continue to rake in $23mil per year.
Self employed people can write off 100% of their healthcare.....yep all of it.....on a schedule "C".
This thread is old.....but, not to old for the OP to file a schedule "X" and get some of this money back.
I know sometimes it is hard for a self employed person to pay those monthly pricey healthcare bills.....however they are 100% deducible.
To the OP......go see a good CPA.
Not all self employed at scheduled C. S corp you have to re add premiums back to W2 wages.
Regardless a "deduction" on schedule C is worth anywhere between a 20%-39% reduction.
The "credit" given by the ACA is worth a lot more. Maybe people can double dip! Take the deduction and get the subsidy credit. I think they can. Nothing in the ACA says you can't double dip as long as you are less than 400% of poverty.
Not all self employed at scheduled C. S corp you have to re add premiums back to W2 wages.
Regardless a "deduction" on schedule C is worth anywhere between a 20%-39% reduction.
The "credit" given by the ACA is worth a lot more. Maybe people can double dip! Take the deduction and get the subsidy credit. I think they can. Nothing in the ACA says you can't double dip as long as you are less than 400% of poverty.
Take a look......all healthcare is 100% deductible if you use a schedule C.
I agree some can benefit greatly from the ACA.
I know more than one contractor with a million plus in assets that qualified for Medicare.
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