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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
You guys do know that right?
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Posted 10/8/08 11:03 AM  |
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maybeamommy
Blessed beyond belief
Member since 10/07 17048 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Could you explain it?
I'm sorry if I sound stupid, but I really don't know much about insurance. My company pays for our insurance and we do not contribute at all - so I don't really understand how it works 
Message edited 10/8/2008 11:07:42 AM.
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| Posted 10/8/08 11:05 AM |
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PreshusSmurf
So in love with my little guys
Member since 1/07 2963 total posts
Name:
Jess
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
if that's not what he expects, then i am definitely confused.
care to elaborate?
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| Posted 10/8/08 11:05 AM |
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DrMeg
Back home!
Member since 5/08 1858 total posts
Name:
Meg
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
From what he said at the debate he expects that you would take whatever money isn't being taken out of your check from work and combine that with the $5000 per couple (I think it is only $2500 per person) to buy health insurance.
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| Posted 10/8/08 11:07 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by DrMeg
From what he said at the debate he expects that you would take whatever money isn't being taken out of your check from work and combine that with the $5000 per couple (I think it is only $2500 per person) to buy health insurance.
yes, this is what he is saying.
the plan STILL SUCKS!
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| Posted 10/8/08 11:09 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
I wish someone from his camp would explain this because its making the media's golden child look like a genius compared to McCain.
If your employer currently contributes 100% of your premium and its $1000 per month, that is YOUR MONEY. If McCains plan were to go into effect you would see that money in your paycheck as taxable income, you could of course CHOOSE to put it directly into a TAX DEFERED HSA or FLEX so it actually WOULD NOT BE TAXED. Or you could pay your premium after tax Or you could choose to go to vegas & gamble it away. In addition he plans to give everyone a $5000 credit to cover the difference, so someone that pays 'NOTHING' now toward healthcare would get a 5k bonus from McCain.
Message edited 10/8/2008 11:10:25 AM.
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| Posted 10/8/08 11:09 AM |
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DrMeg
Back home!
Member since 5/08 1858 total posts
Name:
Meg
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by Ophelia
Posted by DrMeg
From what he said at the debate he expects that you would take whatever money isn't being taken out of your check from work and combine that with the $5000 per couple (I think it is only $2500 per person) to buy health insurance.
yes, this is what he is saying.
the plan STILL SUCKS!
I agree.
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| Posted 10/8/08 11:09 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
$5000 een adding what my employer pays will probably NOT make me able to afford health insurance. Plus there is no guarantee that you will get that $1000/mo your company pays if you get prvate insurance. At my aompany you don't get anything if you opt out of the health plan. You just don't get anything taken out.
The plan would be really ugly IMO. By taking away incentives and requirements for employers to provide health insurance, fewer companies will provide it, leaving us all out on the magical open market, and health insurance companies will all move to states with fewer regulations and we'll get completely shafted.
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| Posted 10/8/08 11:16 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
I don't agree with it 100% either, but as someone that has always been responsible for my own health insurance I really can't believe how most people feel its an atrocity.
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| Posted 10/8/08 11:16 AM |
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littlejoy06
Love
Member since 3/07 6944 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
I wish someone from his camp would explain this because its making the media's golden child look like a genius compared to McCain.
If your employer currently contributes 100% of your premium and its $1000 per month, that is YOUR MONEY. If McCains plan were to go into effect you would see that money in your paycheck as taxable income, you could of course CHOOSE to put it directly into a TAX DEFERED HSA or FLEX so it actually WOULD NOT BE TAXED. Or you could pay your premium after tax Or you could choose to go to vegas & gamble it away. In addition he plans to give everyone a $5000 credit to cover the difference, so someone that pays 'NOTHING' now toward healthcare would get a 5k bonus from McCain.
Yes, this is exactly what I heard. They always try to make him look bad.
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| Posted 10/8/08 11:18 AM |
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Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
If your employer currently contributes 100% of your premium and its $1000 per month, that is YOUR MONEY. If McCains plan were to go into effect you would see that money in your paycheck as taxable income
I'll admit that I am confused by it.
So...I have health insurance through my employer and it's an 80/20 split..the company pays 80% of the cost to cover and I pay 20% through payroll deduction. In addition I have deductibles that are capped at a certain amount.
According to McCain's plan how would that money go back to my check? Would my salary increase, let's say the $1000 from the example? And would I still have insurance from my company or would I have to go out and get my own coverage. Why would my company take such a hit?
I'm so confused that I think I've jumbled it all up.
Message edited 10/8/2008 11:23:47 AM.
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| Posted 10/8/08 11:19 AM |
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Blazesyth
*yawn*
Member since 5/05 8129 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
I'd be concerned that people won't take the money and get the proper coverage. It's just too easy to 'goto vegas'.
People are lazy - they won't get the right coverage, or coverage at all - and then when those people get sick and need it - we're ALL paying for it.
For now, since 2/3 of the work is already done for them, and they just need to tell their employer "Sure, give me health insurance" and sign 2 forms... if people have to do it on their own? I think there will be a good percentage of people that won't do it.
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| Posted 10/8/08 11:19 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by JenniferEver
$5000 een adding what my employer pays will probably NOT make me able to afford health insurance. Plus there is no guarantee that you will get that $1000/mo your company pays if you get prvate insurance. At my aompany you don't get anything if you opt out of the health plan. You just don't get anything taken out.
The plan would be really ugly IMO. By taking away incentives and requirements for employers to provide health insurance, fewer companies will provide it, leaving us all out on the magical open market, and health insurance companies will all move to states with fewer regulations and we'll get completely shafted.
I believe mccain is calling for uniformity amongst states regulations to prevent that. And of course the policy would have to force employers to give people the money as part of their pay. It would never work otherwise & I also believe there have been cases were employers have refused to give compensation to people that opted out of healthcare benefits & they lost in court when sued by the employee.
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| Posted 10/8/08 11:19 AM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
I don't agree with it 100% either, but as someone that has always been responsible for my own health insurance I really can't believe how most people feel its an atrocity.
I think it's because in this country insurance is another part of the entire compensation package.
The typical american worker has already seen their paycheck, in essence, shrink over the past 5 or more years.... and now they are going to see it shrink even more.
If employers eventually no longer sponsor employment plans... that's part of total compensation lost to the workers, and I have a hard time believing that companies are going to put it back into the paycheck.
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| Posted 10/8/08 11:20 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by Sassyz75
If employers eventually no longer sponsor employment plans... that's part of total compensation lost to the workers, and I have a hard time believing that companies are going to put it back into the paycheck.
yes, another issue.
I cannot believe that people cannot see the parallel between this and the banking industry.
you can squawk about personal responsibility until the cows come home...saying people "should" have it, that they are bleeting sheep...whatever you want...but that is the REALITY of it.
we can't base our policies on the "ideal" situation, but the ACTUAL situation and that is that people are NOT savvy enough about health insurance to handle it themselves. the insurance companies see to it.
I've worked in the health care industry (on the billing and fraud side of ins. and when looking for health insurance for companies I've worked for as well as for picking out my own plan) almost my entire adult life. it hurts the brain! and people are just going to go the path of least resistance (and most likely cost) and it WILL come back to haunt us.
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| Posted 10/8/08 11:25 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by Sassyz75
If employers eventually no longer sponsor employment plans... that's part of total compensation lost to the workers, and I have a hard time believing that companies are going to put it back into the paycheck.
No its really not though, the money is YOURS not the government's, not your boss', not the insurance company's, until YOU give it to them.
You could still have the funds direct deposited right into an account you only use for your healthcare & it could pay your premium automatically just as your employer does now.
You would not be loosing anything, you'd be gaining freedom.
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| Posted 10/8/08 11:30 AM |
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Please also understand under Mcains healthplan that the insurance you get from your employer now is all pretaxed...under his plan it will be taxable against your income and could put people into higher tax brackets!!!!!!!!!!!!!!
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| Posted 10/8/08 11:44 AM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
You would not be loosing anything, you'd be gaining freedom.
I know this sounds horrible, but I don't think the average american can handle that much "freedom". This, along with the privitization of social security scares the crap out of me!! I truly believe that most people have zero financial sense, as the housing credit and record credit card debt has demonstrated to us.
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| Posted 10/8/08 11:46 AM |
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Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
Posted by Sassyz75
If employers eventually no longer sponsor employment plans... that's part of total compensation lost to the workers, and I have a hard time believing that companies are going to put it back into the paycheck.
No its really not though, the money is YOURS not the government's, not your boss', not the insurance company's, until YOU give it to them.
You could still have the funds direct deposited right into an account you only use for your healthcare & it could pay your premium automatically just as your employer does now.
You would not be loosing anything, you'd be gaining freedom.
Actually you would be losing if your employer no longer provided health insurance. Benefits make up the total comp package over and above your salary. If health insurance is no longer provided by the employer that reduces total comp by whatever is removed.
When we value our positions we look at overall compensation. If an employee contributes $100 a month towards their health insurance it would go back as taxable income (of which very little is realized in take home pay) but the reality is that the amount that the company contributed will no longer exist as part of the total package...and an employee will be faced with the task of paying for health insurance directly...at an out of pocket cost that the $5k may or may not completely cover...but either way it's a cost.
Will it really be that easy to find independent insurance that offers the same coverage at the same type of deal that employers pay...better yet larger employers that have the numbers and ability to secure better rates?
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| Posted 10/8/08 11:46 AM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by secretbabymaker
Please also understand under Mcains healthplan that the insurance you get from your employer now is all pretaxed...under his plan it will be taxable against your income and could put people into higher tax brackets!!!!!!!!!!!!!!
yes!! that's the other significant problem with his plan that no one is really addressing!
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| Posted 10/8/08 11:47 AM |
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Good Luck finding independent coverage if you have pre-existing conditions!!!!!!!!
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| Posted 10/8/08 11:48 AM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by secretbabymaker
Good Luck finding independent coverage if you have pre-existing conditions!!!!!!!!
again, I'll remind everyone that BOTH candidates CLAIM to prevent exclusions based on pre-existing conditions in their healthcare plans as according to their websites.
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| Posted 10/8/08 11:56 AM |
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Jenn627
Laaaaaaaambert!
Member since 5/08 9818 total posts
Name:
Jenn
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
again, I'll remind everyone that BOTH candidates CLAIM to prevent exclusions based on pre-existing conditions in their healthcare plans as according to their websites.
and how can McCain do that if he plans to deregulate?
Again, I am under the assumption that he's passing the regulating on to the states and will work with the states rather than try to work with the insurance companies themselves...
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| Posted 10/8/08 11:58 AM |
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usuk2004
I'm ONE!
Member since 5/05 5150 total posts
Name:
Farah
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
I have a question - I know that some people may opt out of their company's insurance benefits package, in favor of a spouses'. I'm curious though, does anyone here opt out and source insurance on their own? Does anyone even know anyone who has done this? And especially for those of you who have a lot of knowledge about health insurance - if you haven't then why not? Just curious really
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| Posted 10/8/08 11:58 AM |
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Luv2bAmom
LIF Adult
Member since 2/08 1255 total posts
Name:
J
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Re: Does everyone understand that McCain doesn't expect you to buy health ins w/$5,000?
Posted by KellyFG
Posted by Sassyz75
If employers eventually no longer sponsor employment plans... that's part of total compensation lost to the workers, and I have a hard time believing that companies are going to put it back into the paycheck.
No its really not though, the money is YOURS not the government's, not your boss', not the insurance company's, until YOU give it to them.
You could still have the funds direct deposited right into an account you only use for your healthcare & it could pay your premium automatically just as your employer does now.
You would not be loosing anything, you'd be gaining freedom.
Sorry but this does not make any sense. For one you would not get the $1,000, you woudl get that less the tax on it, plus this is your money to begin with so he is not giving you this $.
Also I don't think company's will continue to cover you and take a hit on havingot pay taxes on thier part of the contribution, what wsould be in it for them, my company would be paying m ore for me then they are now, so theyw would most likely drop the health isurance coverae all togther.
Listen in my opinion this plan s ucks. also for someome like my parents who are older and thank god get good coverage form thier employer would in no way be able ot get the type of coverage they are gettign now, with any pre exxistign condition.
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| Posted 10/8/08 12:04 PM |
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