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Yep. That's very low cost. I'm between jobs at the moment. My COBRA payment is $793.00/month. I think that's a very good deal. I lucked out and the group insurance plan is mostly younger, healthy men. The cost is based on the demographics and risk of the group. If you were paying fully risk-based health insurance at age 65, I'll bet it would be $2K+ per month with a high deductible.
It's only low cost if you disregard the Medicare tax. Medicare is supposed to be socialized medicine. You pay 2.9% of your income into it all your life, and if you live to collect, it might make sense that the additional premium for using it would be zero. But it's not. It's a double tax.
Private, risk-based insurance premiums are supposed to cover the cost of the insured service (i.e. medical bills) plus the administrative cost of the insurer and a profit for the insurer.
those of you who never owned a home have had the luxury of accumulating vast equity in the stock market through a lifetime of good financial decisions and following a good financial plan and investment policy statement.
??? ??? ??? ??? Half of all low-income renters spend at least half their income on shelter, according to Mortgage News Daily. How much money do you expect them to be shoveling into the stock market?
The simplest way to look at it is there will always be renters and owners...
For much of human existence there were few owners...
Private property is a cornerstone of the our founding.
Just because it exists doesn't compel anyone to partake.
More than a few of my friends live the Gypsy life... the own a motor home or trailer and travel...
Some are quite good at it... they spend the winters in warmer climates visiting friends and family and summers up North.
I met quite a few live aboard singles that might be just the ticket for you... one was a retired fireman and he had lived the last 14 years on his 32 foot sailboat... his total housing expenses for SF Waterfront living including insurance and utilities averaged $400 per month... and he loved his lifestyle!
Yep. That's very low cost. I'm between jobs at the moment. My COBRA payment is $793.00/month. I think that's a very good deal. I lucked out and the group insurance plan is mostly younger, healthy men. The cost is based on the demographics and risk of the group. If you were paying fully risk-based health insurance at age 65, I'll bet it would be $2K+ per month with a high deductible.
I'm 58. I have $10K/year penciled in for Medicare and supplemental. I worry that I am guessing low. Medicare as it exists today is not sustainable and I kind of have to assume that to get the level of coverage I've come to expect in my life, I'm going to have to pay large dollars for it.
i pay 515.00 for cobra . it is a bit more than an aca plan but i have lower deductibles and out of pockets . my wife is on medicare and we pay around 1525.00 a year for medicare and drug plan and another 1300 .00 a year for a 2k deductible f-plan supplement .
the good news is out of the 1300 we save 460 a year since they offer the silver sneakers program and pay my wife's gym membership directly
??? ??? ??? ??? Half of all low-income renters spend at least half their income on shelter, according to Mortgage News Daily. How much money do you expect them to be shoveling into the stock market?
i would expect zero since they are low income . low income does not give you choices . the idea is not to be low income . there are few rewards for financial failure unless you count public assistance as a reward
It is to me. I am too young for medicare. I pay $1100 per month for health care.
are you eligible for an aca plan ? it would be a lot less if you are healthy . about 4800 a year and then basically pay as you go up to the deductibles and out of pockets if they apply .
if you are pretty healthy the out of pockets will not mean much since you will not hit them for much . they mostly apply to the non routine stuff .
i had a gold plan . i paid nothing to see my family doctor and nothing for lab work if i used 1 particular lab . specialists were 75.00 out of pocket .
the biggies would be hospital stays where you pay up to 20% of the bill up to about 6k
i would expect zero since they are low income . low income does not give you choices . the idea is not to be low income . there are few rewards for financial failure unless you count public assistance as a reward
Sometimes I wonder and this is said in all honesty.
I have managed a lot of low income rentals in California and some going back to the 1980's
One of my tenants was a Grandmother at 31 and her grandson was born with a heart defect... he received over a million dollars of medical care at Stanford and Ronald McDonald House put up the family each time... and believe it or not at 17 the grandson is very good in sports.
Other families have sent their kids to Disney Grad night... Washington DC and even to Hawaii... none have earned income.
If your really don't own much and know how to maximize assistance much is available...
A couple of years ago a study said a family of 4 would need about 65k earned income to approximate available assistance.
It is also a different mindset knowing everything will be taken care of from the roof over your head, medical, food, discounted or free utilities, etc...
One of my families was headed by a 38 year old Grandmother... she had custody of her grand-kids as both mothers were drug addicts... still remember she wanted me to come out for something and I told I needed to get my tax return in the mail as tomorrow was April 15th and she asked why it had to be done because of April 15th... she was head of household and never held a job.
Point is we do a pretty good job of providing for families with little or no means...
Sometimes I wonder and this is said in all honesty.
I have managed a lot of low income rentals in California and some going back to the 1980's
One of my tenants was a Grandmother at 31 and her grandson was born with a heart defect... he received over a million dollars of medical care at Stanford and Ronald McDonald House put up the family each time... and believe it or not at 17 the grandson is very good in sports.
Other families have sent their kids to Disney Grad night... Washington DC and even to Hawaii... none have earned income.
If your really don't own much and know how to maximize assistance much is available...
A couple of years ago a study said a family of 4 would need about 65k earned income to approximate available assistance.
It is also a different mindset knowing everything will be taken care of from the roof over your head, medical, food, discounted or free utilities, etc...
One of my families was headed by a 38 year old Grandmother... she had custody of her grand-kids as both mothers were drug addicts... still remember she wanted me to come out for something and I told I needed to get my tax return in the mail as tomorrow was April 15th and she asked why it had to be done because of April 15th... she was head of household and never held a job.
Point is we do a pretty good job of providing for families with little or no means...
You're pretty lucky if you've never had a bad experience with section 8
??? ??? ??? ??? got a cite for that? A substantial proportion of a homeowner's housing expenditures is retained by the homeowner in the form of home equity ...
The phrase above is a bit ambiguous. Could you clarify what you mean?
Quote:
...while renters effectively p*** away their rent money.
Actually, renters purchase housing services by the month. At the end of the month, renters have had 30 days of a roof over their heads. That is far from wasting their money.
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