U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
View Poll Results: Retired- under 65? Do you get Obamacare Subsidies?
Yes and I am proud of it 28 31.46%
No, I am paying for the insurance without help 30 33.71%
My ex employer pays for my health insurance 21 23.60%
What is Obamacare? 10 11.24%
Voters: 89. You may not vote on this poll

Reply Start New Thread
 
Old 01-18-2017, 05:12 AM
 
71,584 posts, read 71,751,865 times
Reputation: 49194

Advertisements

Quote:
Originally Posted by old_cold View Post
This is a 'loop hole' that bothers me a bit.
Younger retired people that could easily pay for their insurance but since only income is counted, they are subsidized.
I know of several couples that retired in their late 50's and have much more in savings that I could ever have amassed but have low enough income and pay less a month for the two of them than I do for Medicare plus supplements( and high deductible ones, at that) for only one of me.
the problem is most wealth is tied up in peoples house's so it is not avail for spending .

it would be very unfair had they only counted liquid assets and if they counted ill-liquid assets that would work out no better as folks couldn't pay the premiums and out of pockets with the living room .

medicare only counts assets when they are sold and becomes taxable income as well .

Last edited by mathjak107; 01-18-2017 at 06:28 AM..
Reply With Quote Quick reply to this message

 
Old 01-18-2017, 05:51 AM
 
Location: Dallas
5,601 posts, read 4,935,340 times
Reputation: 16459
Quote:
Originally Posted by Curious Investor View Post
At the Senior Center we have lots of interesting conversations about health and money. The big topic now is the end of Obama Care and the subsidies many of us get from Uncle Sam to pay for our Health Insurance. (The younger group under age 65)

Many of us are scared to death that under the Republican health care repeal and replace plan, middle income folks will get caught flat footed and have to cover their entire health insurance premium.

Right now we have a sweet deal that allows us to have a million dollar or more in assets and still get a subsidy because our actual income is low. Many of us only pull money out of a ROTH IRA or bank accounts to pay for expenses above and beyond Social Security. Roth or pulling money out of the bank is not counted as income. So my wife and I only pay a small amount ($200) for our monthly health insurance premium. (The rest is paid by the tax payers.)

How about you?
It's not Uncle Sam that is paying your health insurance; it's taxpayers....most of whom do not have a million dollars or more in assets. It's time your 'sweet deal' ends.
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 06:29 AM
 
71,584 posts, read 71,751,865 times
Reputation: 49194
medicare is no different . you can have millions in assets but the only time they count in setting your premium level is when they are sold and become taxable income ..

you pay the same low premium as folks with a lot less in assets until something is sold .
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 07:38 AM
 
105 posts, read 93,772 times
Reputation: 230
Quote:
Originally Posted by aquietpath View Post
It's not Uncle Sam that is paying your health insurance; it's taxpayers....most of whom do not have a million dollars or more in assets. It's time your 'sweet deal' ends.
So you have a million dollars. Your retired and need to make that money last for over thirty years. Assuming a 4% annual withdrawal that is only $40K a year. If you have to spend tons of money on health care premiums that have gone way up due to Obama Care rules, don't you deserve some help from the taxpayers?
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 07:40 AM
 
105 posts, read 93,772 times
Reputation: 230
If the subsidy is taken away you will find lots of retired folks looking for a job again or going without insurance.
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 08:48 AM
 
Location: Wayward Pines,ID
1,870 posts, read 3,443,384 times
Reputation: 1466
How did it work before ACA? Would the answers be opposite? Curious would have to leave the country and Stealth could stay?
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 08:52 AM
 
Location: SoCal
13,229 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by old_cold View Post
This is a 'loop hole' that bothers me a bit.
Younger retired people that could easily pay for their insurance but since only income is counted, they are subsidized.
I know of several couples that retired in their late 50's and have much more in savings that I could ever have amassed but have low enough income and pay less a month for the two of them than I do for Medicare plus supplements( and high deductible ones, at that) for only one of me.
It bothers me too but not the 50s something. Younger bums in their 30s and 40s, who are capable of working, but know how to milk the system. Not good for the economy.
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 08:54 AM
 
Location: SoCal
13,229 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by mathjak107 View Post
medicare is no different . you can have millions in assets but the only time they count in setting your premium level is when they are sold and become taxable income ..

you pay the same low premium as folks with a lot less in assets until something is sold .
People pay into Medicare for a long time.
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 08:57 AM
 
Location: SoCal
13,229 posts, read 6,331,374 times
Reputation: 9844
Quote:
Originally Posted by Curious Investor View Post
If the subsidy is taken away you will find lots of retired folks looking for a job again or going without insurance.
A lot of people don't have subsidy. My kid doesn't get any subsidy, she doesn't have a lot of assets either, she gets her plan on the market. So I doubt about the going without insurance part.
Reply With Quote Quick reply to this message
 
Old 01-18-2017, 08:58 AM
 
71,584 posts, read 71,751,865 times
Reputation: 49194
we all pay taxes for a long time too if we have decent jobs and a strong work history . no different really . if you earning enough money to accumulate the level of assets we are talking about you can be sure they likely paid in a whole lot more taxes than 3/4's of the country ,if not more

Quote:
Originally Posted by NewbieHere View Post
People pay into Medicare for a long time.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top