Personal Healthcare costs.... (wage, drug, health care system, millionaires)
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.
BK filings are BK filings. The US changes their BK laws in 2005.
The percentage is between 0 .2-0.3% who file in the Unites States which is still the same as Canada's 0.3% rate.
I just wanted to point out that having single payer does not necessarily mean the BK filings will decrease for the USA. USA citizens overspend. They don't save for a rainy day. They don't prepare for emergencies. They still financed their homes with the lowest possible downpayment even after the financial crash. Close to 50% of all home loans in 2009-2010 were made with FHA (3-3.5% downpayments). This is even after the housing crash. Americans do not know how to save. And blaming medical debt is a very small percentage of BK filings when factoring in the total BK filings and pre existing debt that occurs before a medical event.
Ever since Obama's mandatory healthcare, I've been wondering if paying insurance is worth it for a young person. My current policy is a high deductible policy, with a cheap rate, and I like this sort of policy since I am healthy and saving for the high deductible is easier for me than paying a high premium and not using the health care services...
...But it looks like my choice could be going away due to the health care law, and I was wondering what sort of policy makes financial sense for a young person, and who to vote for to get lower health care costs....
Basciall your stuck with what will be offered startingt in 2014. Nothing else will be ;its a one size fits all based on pools that insure those needing service with those like to in future..likely we will even see empoyer cadallaic plans disappear quickly has the ACA become the standardd employers will settle for even with contracts.
Try 15-17k a year in premiums with a $6250 deductible.
Whereas you can obtain the same policy for half as much with the same deductible in 2013.
Same thing goes for a 26 year old male who would pay $100/month with a $2500 deductible in 2013.
But in 2014. Same 26 year old pays over $300 with same deductible.
Now explains who it hurts and who it helps?
Does the ACA hurt some groups? Yes or no?
No 26 year old male can get a plan for 100 bucks a month. When I was 19 I tried to get my own health insurance policy through Blue Cross Blue shield. I had zero pre-existing conditions and was in tip top shape. They still wanted to charge me 170 bucks a month. I made minimum wage at the time and couldn't afford it. Starting next year, any young man who wants insurance and is in the same boat as I was can acquire insurance because it will be mostly subsidized by taxes. This is a good thing because no one should have to live in fear of losing everything due to medical issues.
The ACA is going help millions upon millions of people and will only hurt those who think they are invincible and will never get sick and employers who make lots of money but won't provide healthcare insurance to their employees.
No 26 year old male can get a plan for 100 bucks a month. When I was 19 I tried to get my own health insurance policy through Blue Cross Blue shield. I had zero pre-existing conditions and was in tip top shape. They still wanted to charge me 170 bucks a month. I made minimum wage at the time and couldn't afford it. Starting next year, any young man who wants insurance and is in the same boat as I was can acquire insurance because it will be mostly subsidized by taxes. This is a good thing because no one should have to live in fear of losing everything due to medical issues.
The ACA is going help millions upon millions of people and will only hurt those who think they are invincible and will never get sick and employers who make lots of money but won't provide healthcare insurance to their employees.
It is far better than what we had before.
I'm under 26 and my insurance quote was $86/month. When I was 19 my quote was $62. Starting next year I won't even have that option. I will be given the "choice" to buy insurance close to $300/month or pay higher taxes. Guess which option I'm going with...
It is currently estimated that about 7-10 million people will lose coverage by 2020. That is a weird definition of help.
If you are single and make more than $36K you won't be receiving a subsidy and you are only getting a subsidy if your employer does not offer insurance. If your employer offers it you have to pay upwards of 9.5% of your HOUSEHOLD MAGI.
I'm under 26 and my insurance quote was $86/month. When I was 19 my quote was $62. Starting next year I won't even have that option. I will be given the "choice" to buy insurance close to $300/month or pay higher taxes. Guess which option I'm going with...
It is currently estimated that about 7-10 million people will lose coverage by 2020. That is a weird definition of help.
If you are single and make more than $36K you won't be receiving a subsidy and you are only getting a subsidy if your employer does not offer insurance. If your employer offers it you have to pay upwards of 9.5% of your HOUSEHOLD MAGI.
The ONLY way you would lose your current healthcare plan under the ACA is if your current plan does not offer full coverage. You just only have a catastrophe plan or a plan that covers tests.
And what is 'household magi'?
If you are making $36K a year you can more than afford insurance. Especially with the ACA making it so that higher premiums cannot be placed upon individuals for pre-existing conditions.
And 7-10 million people are not going to lose health insurance coverage by 2020. The ACA is going to provide affordable health insurance coverage to dozens of millions of Americans who had no hope of getting coverage prior to the law coming into effect.
While a young person has a lower chance of needing medical care (that's why rates are cheaper for them) the chance is not zero. If you have a catastrophic incident, you are in deep do do.
Yeah, so it is really sad that the Affordable Care ACt gutted high deductible health insurance and will double the cost for younger people. It is too bad that the actual economics and actuarial experience are being subjugated to the arbitrary rule that young people must pay at least 1/3rd of what the oldest insureds pay, instead of the real-world ratio of 1/6th the cost.
The Affordable Care Act extends the demographic war against the young. Funny that the young supported Obama by such wide margins. Maybe they'll figure it out when they get the bill for the ACA.
Yeah, so it is really sad that the Affordable Care ACt gutted high deductible health insurance and will double the cost for younger people. It is too bad that the actual economics and actuarial experience are being subjugated to the arbitrary rule that young people must pay at least 1/3rd of what the oldest insureds pay, instead of the real-world ratio of 1/6th the cost.
The Affordable Care Act extends the demographic war against the young. Funny that the young supported Obama by such wide margins. Maybe they'll figure it out when they get the bill for the ACA.
I would bet that most young people have been shafted by the old healthcare system or are close to someone who has been shafted by it so they will continue to support Obama. The young people of America were some of those most marginalized by the old healthcare system. Obama has put an end to that.
The ONLY way you would lose your current healthcare plan under the ACA is if your current plan does not offer full coverage. You just only have a catastrophe plan or a plan that covers tests.
And what is 'household magi'?
If you are making $36K a year you can more than afford insurance. Especially with the ACA making it so that higher premiums cannot be placed upon individuals for pre-existing conditions.
And 7-10 million people are not going to lose health insurance coverage by 2020. The ACA is going to provide affordable health insurance coverage to dozens of millions of Americans who had no hope of getting coverage prior to the law coming into effect.
magi = modified adjusted gross income
Also for a young person -except people with preexisting conditions or women planning to have a kid in a year - catastrophic coverage makes sense and is what you would want to buy. Insures you against tail-end risk, don't have to pay for the day-to-day care you're not using. Of course, the fact that catastrophic insurance is good for young people is exactly why it was banned - after all, if people were buying it they wouldn't be subsidizing the rest of the risk pool.
Realistically if you fall into the above categories and don't have insurance through your job, just take advantage of guaranteed issue, go without insurance, pay the mandate penalty, and buy it when you need it. Would have to be an idiot or innumerate to do otherwise.
Also for a young person -except people with preexisting conditions or women planning to have a kid in a year - catastrophic coverage makes sense and is what you would want to buy. Insures you against tail-end risk, don't have to pay for the day-to-day care you're not using. Of course, the fact that catastrophic insurance is good for young people is exactly why it was banned - after all, if people were buying it they wouldn't be subsidizing the rest of the risk pool.
Realistically if you fall into the above categories and don't have insurance through your job, just take advantage of guaranteed issue, go without insurance, pay the mandate penalty, and buy it when you need it. Would have to be an idiot or innumerate to do otherwise.
Even if most young people play the game this way (they won't), don't you think that the new system is better than what we had before?
And in my opinion, catastrophic insurance doesn't make sense for any demographic.
Ask 100 of your cohorts ages 18-35. Ask them how many of them have pre existing conditions?
Get back to me if that number is more than 3%.
I am 38 years old now. Out of my 100 friends. One has had cancer. One has diabetes.
That's it. The percentage of "pre existing" conditions is very low.
I see about 100-150 patients a week. Pretty much every one ages 18-35 is healthy.
Keep in mind, a pre-condition is what ever the insurance company says it is. And it is not unheard of that these companies will scrutinize doctor records to drum something up if need be to dump you. By the way if your figure of 10 million people are uninsured, you are ok with that?
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.
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.
