Retiring with Obama Care

Discussion in 'Survival & Emergency Preparedness' started by Nimrod, Jan 3, 2013.

  1. Nimrod

    Nimrod Well-Known Member

    Messages:
    4,011
    Joined:
    Jun 8, 2010
    Location:
    North Central MN
    I am putting this here because I am not looking for a political discussion or Obama Care bashing. The homesteading lifestyle lends itself to existing on a low income so this pertains to many of us here. We need to take it into account when planning for the future.

    The attached article says that, as long as the income you decalre on your income taxes is below the federal poverty level, you will only pay a small amount of your income for health insurance and the gooberment will pick up the rest of the premimum.

    http://www.dailyfinance.com/2012/06...-help-you-retire-earlier-or-destroy-itself-t/

    In my case, I have no income so Obama Care will pay my entire premimum. When I start getting Sociable Security I will have to contribute a small amount and they will pick up the rest. Am I understanding this correctly?

    The only flaw I can see is that I have no idea what a "silver level healthcare policy" will cover. It sounds better than the "bronze level" policy that is the minimum most folks will have to carry.

    Of course this provision will have millions of citizens on subsidised healthcare so, as part of your homesteading life planning, you better get those procedures done before the whole system goes bankrupt.
     
  2. Sawmill Jim

    Sawmill Jim Well-Known Member

    Messages:
    8,830
    Joined:
    Dec 4, 2008
    Location:
    Tennessee
    I'm lost to it all too . But i worked two days last year going to try to do better this year . :cowboy:
     

  3. Narshalla

    Narshalla Well-Known Member

    Messages:
    1,703
    Joined:
    Sep 11, 2008
    Location:
    Oregon
    Respectfully, Nimrod, your best bet is to look up the Liverpool Care Pathway.

    Unfortunately, I'm afraid that that's what we will have to worry about.
     
  4. shawnlee

    shawnlee Well-Known Member

    Messages:
    547
    Joined:
    Apr 13, 2010
    Location:
    Ca,AZ,KS
    While I am all for compassion for my fellow humans and cringe everytime I see money put a price tag on life...........

    As you can see from the article posted... down in the sliding graph portion.

    If you deduct the next to last line from the last line in each numbered line....which is not the reason this graph was made, but works well for this purpose.

    You get the total cost the taxpayers or goverment gets stuck with for each persons health care....who fall in this sliding scale graph.

    Example line one total cost to the taxpayers for a single person making 44,000 dollars a year or less...4001.20

    Line 4 for a average 4 person home unit making 92,000 dollars or less a year is over 8,000 dollars the taxpayers government will cover on the balance due.

    There are lots of ways to look at this information and lots of opinions on it........but reality is that you can not gather something from nothing......care costs and someone will have to pay, which is why costs are in a state of skyrocketing.....

    The money has to come from somewhere......:shrug:
     
  5. VT Chicklit

    VT Chicklit Well-Known Member

    Messages:
    409
    Joined:
    Mar 21, 2009
    Location:
    Vermont
    Can I assume that the "out of pocket " expenses are in addition to the cost of the insurance? Does anyone know if these costs are per person or per household?
     
  6. Nomad

    Nomad Well-Known Member Supporter

    Messages:
    4,212
    Joined:
    Dec 19, 2002
    Location:
    Northeast Ohio
    I don't understand anything about it. I am paying for Medicare every month. Does that go away and I have to change to the Obamacare? My wife is uninsured, so what happens to her? I am very confused.

    Nomad
     
  7. Nimrod

    Nimrod Well-Known Member

    Messages:
    4,011
    Joined:
    Jun 8, 2010
    Location:
    North Central MN
    VT,
    On the chart there is a column of numbers on the left. This is the size of your household. If there are 5 in your household you go down to 5 and then across to find the poverty level for your household and the range you will have to pay in premimus.

    The out of pocket costs are what you pay for the insurance premimus. You also have to pay co-pays, deductibles, and a percentage of the bill if you actually use the coverage.

    Nomad,
    I'm no expert so don't take this to the bank. I think if you qualify for medicaid or medicare (65 and over or income below the poverty level) that's what you get. Otherwise you have to participate in Obama Care or pay a fine. It sounds like your wife will have to buy a health care policy but it may be subsidised according to how much money she makes.

    I found out what silver level care means. The levels are explained about half way down.
    http://www.nypost.com/p/news/opinion/opedcolumnists/obamacare_pain_v9diAizoMoRa8bvkShVG0J

    I still have the question of am I interperating this right? Will my premimum be mostly subsidised?
     
  8. thesedays

    thesedays Well-Known Member Supporter

    Messages:
    1,865
    Joined:
    Feb 25, 2011
    If you have no income and minimal assets, you should be eligible for Medicaid, so the whole Obamacare thing is a moot point.
     
  9. Txsteader

    Txsteader Well-Known Member

    Messages:
    11,061
    Joined:
    Aug 22, 2005
    That is my understanding of how it will work.

    Based on what you've said.....if you have NO income, then you'll be fully subsidized. Once you begin receiving SS, I'm guessing you'll either be fully subsidized or pay a small premium, depending on what your SS income is. Once you begin receiving Medicare, then of course you'll no longer need Obamacare.

    I'm also not an expert but that's how I understand it, from my own research. You could call your local SS office and ask them for details, just to be sure.
     
  10. uhcrandy

    uhcrandy Well-Known Member

    Messages:
    127
    Joined:
    Sep 16, 2010
    Location:
    utah
    Many times there are Senior citizens centers, or advocate centers in your area. Perhaps you could find one of these in your area. They are a good source of advice/information. Good Luck.
     
    thesedays likes this.
  11. CFarmerLady

    CFarmerLady Well-Known Member

    Messages:
    112
    Joined:
    Dec 1, 2011
    Location:
    Texas Panhandle
    Unfortunately, we haven't even been told how they're going to collect the information, or how they're going to enforce the thing. I don't know if ANYone can reliably answer those questions.
     
  12. texican

    texican Well-Known Member

    Messages:
    12,325
    Joined:
    Oct 3, 2003
    Location:
    Carthage, Texas
    You're SOL, if you live in a state that isn't participating in the Medicaid "free health care" scheme. TX will not be participating. So, us 'po folks' won't get squat out of Obamacare... unless we make over the poverty line, then we'll have food taken out of our mouths in the form of extra taxes, to pay for other's health care. Couldn't afford it before, can't afford it now.

    My health care includes a set of medical school textbooks, a shelf full of lay person's medical books, and numerous herbal remedy books. And a couch.
     
    Ambereyes likes this.
  13. Ann-NWIowa

    Ann-NWIowa Well-Known Member Supporter

    Messages:
    5,832
    Joined:
    Sep 28, 2002
    Currently dh and I are on Medicare, BCBS supplemental policies plus RX policies. Our "insurance" costs last year were $6,901.20. After all that we still paid approximately $300 to $500 per month for non-covered medical costs. This was a HUGE percentage of our income with me working and now that I've retired its going to be a COLOSSAL portion of our income -- and premiums increase each year while income does not. We are very concerned about what Obamacare is going to cost us in both dollars and quality of medical care available.