<p>From the Cato Institute and, boy, it pains me to even type the word “Cato.” I did it again. The numbers are larger now. </p>
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<p>Because our Politicians told us so?</p>
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<p>Insurance companies/big pharma rule. </p>
<p>The rest of us drool.</p>
<p>H despises his job, and the stress affects his health and our family life. He is there for one reason only: health insurance. He has a chronic condition and my D has a chromosomal syndrome. They are not insurable…</p>
<p>I will echo the self-employed posts above. My self-employed clients are paying premiums of $15,000-19,000 per year, 2-5 family members, high deductible policies. These premiums are not deductible when computing self-employment tax, so they are also paying an additional 12.3% SE tax on the premium amount. It is so unfair that the self-employed cannot be on level playing ground in this regard. This fact never gets media attention either.</p>
<p>In contrast, W2 workers have employers footing the vast majority of the premium. The remainder is paid with pre-tax dollars. I do not know any employers who are not deducting the employee portion pre-tax. The remaining health care cost dollars can also be funneled tax-free through a FSA.</p>
<p>I also just got the Anthem Blue Cross premium increase letter. Our premium is going up to $1645 an increase of 12.6%. We cover 5 people but the rate would be the same for 3 of us. I am grateful we can still cover our older two kids. We have a PPO 2500. Aside from the premium increases I have been pretty happy with our coverage. We have not had any problem getting specialists covered. One thing I love about my plan is that I can make an appointment to see a specialist without having to go to my primary Dr first.
Everytime we get an increase we reconsider going to a higher deductible plan.
We our self employed. When I worked for a large corporation I had a $100 deductible and paid very little of the premium cost.</p>
<p>Srystress…thanks for your posts…</p>
<p>And the other posters…thanks for your posts…</p>
<p>Interesting stories all around…</p>
<p>Including qdogpa’s :)</p>
<p>“The rest of us drool.” minus me and most USA citizens. But it does not matter who support it and who not and how many on each side as totalitarian has implemented it anyway. It is irrelevant to discuss who support what and why, it will make no diff. The cost will go up much more with elderly and infants having less and less services available to them as most needed poplulation. More resources will go to young and healthy since they have to be bought out for voting. They need expensive stuff lke plastic surgeries, sex change operations, and some cheap but very common things (hence expansive as total) like birth control to be covered. We are definitely moving in a right direction. Who needs infants and elderly, they cannot work anyway.</p>
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<p>I don’t think you got the reference.</p>
<p>cartera, you are free to think whatever you wish…</p>
<p>Dstark, i’ll agree that my healthcare costs are being subsidized by others, if i can say i am subsidizing some college students by being a full pay. ;)</p>
<p>Well…the first part is a fact…</p>
<p>The second part is arguable…</p>
<p>But you can say what you want. :)</p>
<p>Last employer would have footed the college costs for our kids,though 100% tuition at at particular school, and 50% tuition anywhere else…changing jobs cost us. :(</p>
<p>I hope the benefit of the employer switch was worth it…</p>
<p>What were the positives?</p>
<p>$$$$ and better benefits, such as pension and match</p>
<p>I had never considered the idea of being uninsurable should we no longer have employer health plans…It is nice to know we won’t be cancelled as long as he is with the same company and we aren’t on our own. This is something I’ll have to remind him of when he thinks he would be better off working for himself. </p>
<p>Luckily, even at our advanced ages of 48 and 51 we have no health issues (that we know of! knock wood) and take NO daily medication. Good bloodwork and good blood pressure. Scary that the health we enjoy today could change anytime (like the next mammogram or the dreaded colonoscopy…)</p>
<p>We spend more on health care for our healthy 18 year old who gets weird injuries and stuff.</p>
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<p>Then you would have had subsidized tuition in addition to subsidized health care. Win Win!</p>
<p>One way to look at it. ;)</p>
<p>For those of you self-employed, surely you get to deduct the cost of your health expenses/insurance, so you too are paying pre-tax aren’t you (see further down this post)? And stop whining that the employer pays part of the cost for some people…some employers don’t pay that large of a share and it is part of the “benefit package”. If they didn’t pay some health premiums they could pay more salary. YOU are YOUR employer, so you get the profits, the expenses, and the tax deductions. If you think it is unfair and you don’t make enough, then go work for someone else and let them control what you earn and help you with insurance.</p>
<p>ALso, some self-employed folks might not be organized properly to get full tax benefits. I found this info:</p>
<p>If you have self-employment income, then you can take a deduction for health insurance expenses incurred for yourself, your spouse, and your dependents.</p>
<p>Who Can Claim the Self-Employed Health Insurance Deduction</p>
<pre><code>Self-employed people reporting income on Schedule F (for farmers) or Schedule C (other self-employed persons).
General partners in a partnership and actively participating members in an LLC treated as a partnership who have self-employed income.
Employees of an S-corporation who own 2% or more of the s-corporation’s stock.
</code></pre>
<p>AND</p>
<p>Health Insurance Deduction in a Loss Year
If you are reporting a loss from your self-employed activity, then you are not eligible to deduct your health insurance costs since this particular deduction is limited by your self-employment income. You can however still claim the health insurance expenses as an itemized medical deduction on your Schedule A.</p>
<p>The premiums have to be reported as income. Not only do employees of companies not report the portion their employers pay of the premium as income, the company gets to deduct the part they pay. So there is a deduction with no corresponding income tax paid.</p>
<p>Cash-paying patients who do not have insurance coverage are subsidizing those who have insurance coverage. Just wanted to throw that fact into the blender.</p>