cheapest health insurance vs penalty

Discussion in 'Business Operations' started by recycledsole, Jun 6, 2014.

  1. RoyalTree

    RoyalTree LawnSite Member
    Messages: 158

    Stealing is when you join an Indian tribe in order to be exempt but go to the emergency room to get treatment for your ailment and the rest of us foot the bill.

    Is it perfect? Heck no. Hopefully they will keep working on it to make it better for all.

    For everyone claiming that they will just pay cash if they need it, bs. I have had medical bills top 275k within 6 months.

    We are not required to offer healthcare to our employees due to our size but we offer plans with the company paying up to half the premium in some cases to all our guys and their families.
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  2. larryinalabama

    larryinalabama LawnSite Fanatic
    Messages: 19,649

    If your went on Medicaid and your 30, its doubtful you would have very many assets if any. To get the government to pay for perminate nursing home care, your assets cant exceed 1000$. Its a horrible program, I agree.
  3. whiffyspark

    whiffyspark LawnSite Fanatic
    Messages: 6,563

    Same for social security. My kid has disability and he cannot exceed $1000 in his bank account.
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  4. whiffyspark

    whiffyspark LawnSite Fanatic
    Messages: 6,563

    I just had rabies treatment. First shot was $13k. Then $800-900 each time for 4 more shots

    It was within two weeks as well. That's the problem with healthcare. Who has money laying around for stuff like that.

    That said my kids bill was close to a half million being in nic for 105 says
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  5. hackitdown

    hackitdown LawnSite Silver Member
    Messages: 2,649

    Medicaid doesn't take your assets. If you have no insurance, and you are poor enough to be on Medicaid, they pay your medical bills.

    People that get medical care are required to pay their medical bills. If you have assets like equity in a house, you will be forced to pay by liquidating your assets. You sell the house to pay. In other words, pay for what you bought. The taxpayers (Medicaid) won't pay your medical bills if you have the assets to pay your bills.

    This typically comes into play when an elderly person is sent to a nursing home. Grandpa has no money, but he owns a home. The kids would like to inherit that home. Grandpa is on Medicare, but it is Medicaid that pays for nursing homes. The nursing home applies for Medicaid for Grandpa, but it is rejected since Grandpa has a $250K house sitting empty. But those bills are $8K per month, so the family is forced to sell and burn the $250K on the nursing home.

    It happened to my wife's grandparents not too long ago.
  6. 32vld

    32vld LawnSite Gold Member
    Messages: 3,983

    This is why assets must be taken out of the parents names when they hit somewhere from 60 to 65. Estate planning is needed to protect that home being taken over by the government.
  7. hackitdown

    hackitdown LawnSite Silver Member
    Messages: 2,649

    That is really the only approach. I guess some people buy long term care insurance.

    My father has all his assets in a trust of some sort. Not a lot of wealth, but he is guarding it. In a way, he is set up to be a freeloader. He has some assets, but has arraigned his finances so that Medicaid (us taxpayers) will pay if he needs a nursing home.
  8. recycledsole

    recycledsole LawnSite Gold Member
    from MD
    Messages: 3,274

    It should not be mandatory. I should have a choice, like I did all my life until this year. Just another way for the government to steal more money from me. Arent i making enough money working hard everyday so tons of them can be imcompetent? ANY time i have to deal with the government it is a complete joke. I appreciate the roads i drive on, cops, parks, and the like, but there is a ton of waste/ stealing. If the government stopped wasting my money on bogus reasons and just for the necessity, I could pay 50%-90% less. Instead its going to all kinds of terrible or corrupt things. Just ONE example, remember when the economy collapsed and the taxpayers BAILED out the banks? How the banks were bankrupt, tons of people lost their jobs. WHY did the CEO of a large bank get a $100 MILLION DOLLAR BONUS?!?!? My taxes went to that kind of corruption. There are all sorts of terrorist (real terrorists) and criminals in the government. I am all for helping people and contributing to society for the benefit of others. The objection I have is its not always going to good things, even when it does its terribly inefficient.

    Whiffyspark- how did a rabies shot cost you $14k????????
    Last edited: Jun 9, 2014
  9. whiffyspark

    whiffyspark LawnSite Fanatic
    Messages: 6,563

    Cost of medicine.

    First shot was 12.5k plus another $800 shot plus hospital visit

    Then subsequent shots.

    I have Cigna, but if the medicine and care was prices REASONABLY we wouldn't need it
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  10. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Messages: 4,725

    You are right about that if it was reasonable people wouldn't need insurance. But the catch 22 to that is if there wasn't insurance it would be reasonable.

    When you manipulate the market at first you hardly notice but eventually it grows into an unrecognizable disaster which is then deemed to important and to big to mess with and so the adjustments continue.

    As bad as rabies shots cost it could of been about 10 times worse. Check out what it costs for snake bite victims sometime those prices are just plain rude.

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