posted on Feb, 28 2014 @ 02:26 PM
reply to post by poet1b
I had a co-worker's son get in a motorcycle accident. He broker both is legs and his back. It took him two years to fully recover after the surgery.
In year one his medical bills were 130k. You know how much he paid? 3k. That was the maximum he could be billed per his insurance deductible.
In year two his medical bills were 55k. You know how much he paid? 3k.
So almost 200k worth of medical bills and he only paid 6k. His son fully recovered as he had access to any treatment he wanted per the PPO insurance
I have the same exact insurance for my family. I pay 120 a pay period (240 a month) and my company pays the rest (about 600 on their side)
So my amazing insurance is around 10-11k a year if I paid for it all on my own. So let's say something happens and I have to pay my deductible of 3k.
That's 13-14k I spend on medical insurance costs.
OH MY GAWD SO EXPENSIVE RIGHT!???
No. It's still cheaper than if I was getting taxed at a 42% tax rate...waaaaaaaaay cheaper. My current effective tax rate is 17% because I am head of
household (single earner family) with 2 children. So to use a round number let's say of 100k I lose 17k a year to taxes. At a 42% tax rate I would
lose 42000 to taxes. That's an additional 25k I would have to spend to get "free" healthcare, or 11k more than I pay for insurance.
Now let's use the national average of 45k a year. A person who makes that with the same filing status of me would have an 11% effective tax rate or
just under 5k a year. So let's say they pay for the awesome insurance and spend another 14k. That's 19k a year for taxes and insurance and a
deductible. If they had a 42% tax rate they would pay 19k a year in taxes which is exactly what they would pay for top notch insurance. They aren't
getting anything for free, they are paying more in taxes for the same thing. Keep in mind in the years they don't need to use it they get to keep
that 3k deductible.
Keep in mind low income earners in the USA already get free healthcare.
Do you see the math here? If our tax rate goes up to euro standards the average family would be EXACTLY where they would be if they paid for top notch
insurance. The beauty of the USA is people have the choice to decide their coverage. If they go cheap, they get what they pay for.