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Why are HSAs a terrible idea? I have one in association with a high deductible policy because it is one of the few options you have when without an employer / government health plan.
Sure, I would much rather have a full tax credit to cover my insurance ...
Health care in this country needs attention and making it a partisan issue helps no one but politician and their cronies.
As a self-employed person I have gone without insurance, but must have it soon and, indeed, a high deductible policy associated with an HSA is about the only option, without suffocating to death under oppressive premiums. I believe that as a self-employed person both the contributions to the HSA, up to around $10k for a family, and the premiums are tax deductible above gross adjusted income.
The current "attention" proposals, basically government subsidies to pay health care premiums (under one proposal mandatory for everybody), will only fatten the insurance companies and lead to even higher prices.
I would agree with it if someone points out to me a dividend-paying health insurance company fund or lets me see the stock portfolio of the person proposing it.
Real universal health care is a single-payer system financed through taxation. That is not on the table in the US.
The other "attention" would be introducing a full-blown market competition system, including international competition. HSAs are a part of that sort of solution.
"Real universal health care is a single-payer system financed through taxation. That is not on the table in the US."
Doubt you will see anything like it in my lifetime. I hope for something better for my kids.
I no longer have to pay the HUGE premiums I did as a small business owner. DH has insurance thru/ his company, for wh/ we are very grateful. The premiums are less than what I paid as a self employed business owner, but the deductible is $5000 and so we end up paying everything out of pocket in the long run.
We look at "health insurance" as "wealth insurance." It is simply catastrophic insurance . . . in case we have something dire happen and run up a $500,000 or more bill w/ docs and hospitals . . . at least we won't lose our house . . .
My son (college student - away from home) was very ill during the night so had to go to the ER . . . and it was not properly approved . . . so I am stuck w/ that bill. Had an Urgent Care center been available (had he gotten ill during the day) the bill would have been a lot less . . . but it is what it is and I have to pay that bill. I am grateful he was treated well . . . but wow . . . demoralizing what one gets charged.
I avoid docs whenever possible . . . try to maintain good health and work on "well care" and preventive healthcare measures, but there will always come a time when everyone needs to access healthcare. My insurance is not gonna help me w/ the cost of it very much . . . unless something really bad happens.
Those premiums are just a hedge against losing my house - at least - that is the way I see it. Pretty lousy (and expensive) system to prevent financial ruin.
One thing that people fail to realize is that it isn't the insurance company that decides what your coverages are, it is the employer providing the plan. If your plan has a $5000 deductible, take that up with the HR dept. Your insurance company can't do anything about that.
We have a WONDERFUL plan. Our premiums might be on the high side, about $550/month for a family plan BUT we have 100% covered preventative care including eye exams and HEARING TESTS (which are almost never covered). We have a $20 office co-pay for non-preventative care. I spent about $60 out of pocket last year for office visit co-pays. We also have 100% coverage for generic prescriptions. We paid zero dollars last year for meds, 3 kids on allergy meds, I take allergy meds and synthroid, 2 kids with asthma--NO CO-PAY. Not all plans are bad. I am thrilled to death with our medical coverage.
Oh, this is a company of 20 employees too. The worst insurance we ever had was when Dh worked for a company with 56,000 employees/
One thing that people fail to realize is that it isn't the insurance company that decides what your coverages are, it is the employer providing the plan. If your plan has a $5000 deductible, take that up with the HR dept. Your insurance company can't do anything about that.
We have a WONDERFUL plan. Our premiums might be on the high side, about $550/month for a family plan BUT we have 100% covered preventative care including eye exams and HEARING TESTS (which are almost never covered). We have a $20 office co-pay for non-preventative care. I spent about $60 out of pocket last year for office visit co-pays. We also have 100% coverage for generic prescriptions. We paid zero dollars last year for meds, 3 kids on allergy meds, I take allergy meds and synthroid, 2 kids with asthma--NO CO-PAY. Not all plans are bad. I am thrilled to death with our medical coverage.
Oh, this is a company of 20 employees too. The worst insurance we ever had was when Dh worked for a company with 56,000 employees/
You guys have to stop believing the myths about wait time regarding Canada's health care system. As I get older I find myself using the system more and more. All of my tests and procedures have been done in a very timely manner. Perhaps there are problems in some areas of the country, but not here.
I pay $54 per month and for this I live in a country that has one of the lowest infant mortalities and longest life spans on the planet.
I also see a lot of misrepresenting our tax system on this forum too. We have a graduating tax system and federally we pay 15.5% on income up to $37,178....22% on earning between $37,178 and $74,357 and 26% from $74,357 to $ 120,887 and 29% above $120,887. This figure is on taxable income. First we deduct our personal exemptions and credits from the net income which in my case is about $12,000. We also pay provincial tax which is about 1/3 of what we pay federally.
Our taxes aren't that bad considering what we receive for them.
You guys have to stop believing the myths about wait time regarding Canada's health care system. As I get older I find myself using the system more and more. All of my tests and procedures have been done in a very timely manner. Perhaps there are problems in some areas of the country, but not here.
I pay $54 per month and for this I live in a country that has one of the lowest infant mortalities and longest life spans on the planet.
I also see a lot of misrepresenting our tax system on this forum too. We have a graduating tax system and federally we pay 15.5% on income up to $37,178....22% on earning between $37,178 and $74,357 and 26% from $74,357 to $ 120,887 and 29% above $120,887. This figure is on taxable income. First we deduct our personal exemptions and credits from the net income which in my case is about $12,000. We also pay provincial tax which is about 1/3 of what we pay federally.
Our taxes aren't that bad considering what we receive for them.
No, your taxes do not seem bad, especially knowing your insurance premium is $54. Does the premium change based on age?
Thank you so much for providing this info. Very interesting!
One thing that people fail to realize is that it isn't the insurance company that decides what your coverages are, it is the employer providing the plan. If your plan has a $5000 deductible, take that up with the HR dept. Your insurance company can't do anything about that.
We have a WONDERFUL plan. Our premiums might be on the high side, about $550/month for a family plan BUT we have 100% covered preventative care including eye exams and HEARING TESTS (which are almost never covered). We have a $20 office co-pay for non-preventative care. I spent about $60 out of pocket last year for office visit co-pays. We also have 100% coverage for generic prescriptions. We paid zero dollars last year for meds, 3 kids on allergy meds, I take allergy meds and synthroid, 2 kids with asthma--NO CO-PAY. Not all plans are bad. I am thrilled to death with our medical coverage.
Oh, this is a company of 20 employees too. The worst insurance we ever had was when Dh worked for a company with 56,000 employees/
I chose to take a plan w/ a $5000 deductible to lower my premiums. I was fully informed - I know full well the insurance plan and its coverage are determined by the employer. I did not mean to in any way say the big bad booger boo insurance company is ripping me off, LOL. However, even w/ that my premium is only slightly lower than yours, and my DH works for a major HEALTHCARE company, Hee Hee.
When I had to buy healthcare on my own, it was nearly $900 a month for a lousy policy - and that was 10 years ago.
Your plan really sounds good! DH has hearing aids and we don't get a penny for his hearing tests. Your employer has certainly worked hard to make your healthcare coverage a solid benefit. It is wonderful your family has this benefit. Really - it doesn't seem like a high premium to me w/ the coverage you get. Very impressive.
You guys have to stop believing the myths about wait time regarding Canada's health care system. As I get older I find myself using the system more and more. All of my tests and procedures have been done in a very timely manner. Perhaps there are problems in some areas of the country, but not here.
I pay $54 per month and for this I live in a country that has one of the lowest infant mortalities and longest life spans on the planet.
I also see a lot of misrepresenting our tax system on this forum too. We have a graduating tax system and federally we pay 15.5% on income up to $37,178....22% on earning between $37,178 and $74,357 and 26% from $74,357 to $ 120,887 and 29% above $120,887. This figure is on taxable income. First we deduct our personal exemptions and credits from the net income which in my case is about $12,000. We also pay provincial tax which is about 1/3 of what we pay federally.
Our taxes aren't that bad considering what we receive for them.
Don't forget your 15+% sales tax too though, that is more then double what we pay. I know it isn't called sales tax but I can't remember what it is called. Your federal and provincial taxes aren't all that different then what we pay in the US.
Don't forget your 15+% sales tax too though, that is more then double what we pay. I know it isn't called sales tax but I can't remember what it is called. Your federal and provincial taxes aren't all that different then what we pay in the US.
So who has the better deal? Oh, that's right our care here is much better.
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