Health insurance

[hatuko]

I was talking with someone earlier today about how lucky we are to have a public and very efficient health care system here in Finland - we only pay little amounts here and there. When I used to live in the UK, too, I could benefit from the public health care system and had a surgery at absolutely no cost for me.

But in the US (so the questions are for Americans), how much does it cost for you to have a health insurance? How does it affect you financially? Also, do you actually have one?

Thanks!

 

[Jimzz]

Depends greatly as there is different coverage and also many get some cost covered by work if they get insurance through work.

But insurance does not cover everything most of the time. There are co-pays, limits, etc... So even having insurance you can still get stuck with piles of bills or turned down since your insurance will not cover.

 

[Dr. Detroit]

What are the income tax rates of Finland?

You pay for your nationalized health care and lots more Govt. benefits through very high tax rates.

In the USA a 30yr old can expect to pay about $250/month with a $6000 annual deductible if they had to purchase it on their own with no employer help.

Most full time employers subsidize health care for their employees by offering lower cost insurance with much better deductibles and lower co-pays. It's very complicated.

 

[jlee]

What are the income tax rates of Finland?

You pay for your nationalized health care and lots more Govt. benefits through very high tax rates.

In the USA a 30yr old can expect to pay about $250/month with a $6000 annual deductible if they had to purchase it on their own with no employer help.

Most full time employers subsidize health care for their employees by offering lower cost insurance with much better deductibles and lower co-pays. It's very complicated.

You say that, but I compared net take-home pay between my gf and I (Canada vs US) and it's not off as much as you might expect.

 

[Jimzz]

What are the income tax rates of Finland?

You pay for your nationalized health care and lots more Govt. benefits through very high tax rates.

In the USA a 30yr old can expect to pay about $250/month with a $6000 annual deductible if they had to purchase it on their own with no employer help.

Most full time employers subsidize health care for their employees by offering lower cost insurance with much better deductibles and lower co-pays. It's very complicated.

http://en.wikipedia.org/wiki/Taxation_in_Finland#Earned_Income_Taxes

Looks like its similar to less than the US.

That and they, like many other nations, spend less on health care per person than the US yet offer coverage to all.

 

[nickbits]

You say that, but I compared net take-home pay between my gf and I (Canada vs US) and it's not off as much as you might expect.

Income taxes are only part of the equation. Sales tax is higher, goods cost more, etc. Everything is related.

 

[hatuko]

But insurance does not cover everything most of the time. There are co-pays, limits, etc... So even having insurance you can still get stuck with piles of bills or turned down since your insurance will not cover

Unbelievable... I mean what's the point of the insurance if they don't cover all the medical expenses?

What are the income tax rates of Finland?

You pay for your nationalized health care and lots more Govt. benefits through very high tax rates.

Taxes are indeed high here, but people are kinda happy because yes we get in return very good public services. Not only health care, but also education etc.

It's very complicated.

I've noticed that

 

[Gooberlx2]

Yeah it's a pretty complicated question, with answers depending on the person, their health, their employer, their income, their plan, where they live, etc, etc...

It's my opinion that, generally, health insurance is an overly substantial cut of most peoples' incomes, exacerbated if they have families and/or chronic conditions forcing them to actually use that insurance.

 

[hatuko]

How does having an insurance affect you financially? If I understood rightly they are quite expensive?

 

[Dr. Detroit]

You say that, but I compared net take-home pay between my gf and I (Canada vs US) and it's not off as much as you might expect.

Thought we were talking about Finland not Canada.........................

And since you bring it up, how much is a 6-pack of beer or a pack of cigarettes in Canada or how much does a new car cost compared to the USA?

GNR

 

[Red Storm]

I was talking with someone earlier today about how lucky we are to have such a small country and population.

ftfy

A lot of things would be easier if the US was smaller and only had ~5.5 million people.

 

[Dr. Detroit]

How does having an insurance affect you financially? If I understood rightly they are quite expensive?

Do you have insurance on your car? What does it cost?

Why would you not expect to have insurance on your body and it too to cost a significant portion?

I like to think my body/health is worth a whole helluva lot more than a car and many people pay $80- $140/month for auto insurance (per car).

 

[jlee]

Thought we were talking about Finland not Canada.........................

And since you bring it up, how much is a 6-pack of beer or a pack of cigarettes in Canada or how much does a new car cost compared to the USA?

GNR

The OP also mentioned UK. Generally, the US is the only country with no public health care worth talking about.

Beats me, I don't buy beer up there and I don't smoke. I do have a friend there with a similar job who made ~$25k/yr more than me, though, so wages are also higher.

Defend the US health care system all you want, but I don't know anybody who's actually had to use it who's been super happy with things (unless you have awesome health care through your employer, which I used to have - now it's shitty).

 

[purbeast0]

totally depends on the company you work for and the benefits packages.

i've been at a company where i paid $600/mo for my wife and i.

my current position i pay $0 for my health insurance.

 

[hatuko]

A lot of things would be easier if the US was smaller and only had ~5.5 million people.

Can't disagree on this. It is a fact also that the countries that top the list for quality of life i general are the smaller countries

I like to think my body/health is worth a whole helluva lot more than a car

How much do you pay for example?

i've been at a company where i paid $600/mo for my wife and i.

To me it sounds a lot... but well I live in another country with different salaries etc etc so I have no idea of how bad that is for the average income in the US

 

[runzwithsizorz]

Do you have insurance on your car? What does it cost?

Why would you not expect to have insurance on your body and it too to cost a significant portion?

I like to think my body/health is worth a whole helluva lot more than a car and many people pay $80- $140/month for auto insurance (per car).

A large portion of what I pay for auto insurance, goes to insure other people.
Oh wait,---

 

[jlee]

Can't disagree on this. It is a fact also that the countries that top the list for quality of life i general are the smaller countries



How much do you pay for example?



To me it sounds a lot... but well I live in another country with different salaries etc etc so I have no idea of how bad that is for the average income in the US

I pay $90/mo for myself (my employer pays ~$307), so about $400/mo total.

 

[hatuko]

I pay $90/mo for myself (my employer pays ~$307), so about $400/mo total.

WOW

 

[Dr. Detroit]

Beats me, I don't buy beer up there and I don't smoke. I do have a friend there with a similar job who made ~$25k/yr more than me, though, so wages are also higher.

Oh, did they happen to live in a very high cost of living area? Phoenix is one of the lower cost of living areas in the US. I looked at moving to Tucson 5yrs ago and was willing to take a 40% cut in pay and still have more spending power than Silicon Valley.

Gasoline is roughly 30% higher in Canada than the US - About $4.80/Gallon

A 24 pack of Canadian Molson 12oz cans costs $35 in BC, $45 in Alberta, $28 in Quebec, $38 in Ontario on average. http://www.liquordirect.ca/BEER-C9.aspx

 

[Gooberlx2]

To me it sounds a lot... but well I live in another country with different salaries etc etc so I have no idea of how bad that is for the average income in the US

I'll use my employer's plan as an example. The employee portion of the premium for family coverage is $226 per paycheck, employer pays another $543. So $452 per month deducted from the employee's income. So that's $5400 per year. That's the same rate for the janitor earning $30,000 and the doctor earning $300,000.

 

[soulcougher73]

What you pay in taxes for health care we pay in premiums... Except ours cost more for less. It's a real shitty system.

 

[hatuko]

I'll use my employer's plan as an example. The employee portion of the premium for family coverage is $226 per paycheck, employer pays another $543. So $452 per month deducted from the employee's income. So that's $5400 per year. That's the same rate for the janitor earning $30,000 and the doctor earning $300,000.

Maybe I misunderstood - are you saying that the cost of the insurance isn't related to the income of the person/family?

 

[xeemzor]

Healthcare is a joke in this country. We need more free market medicine.

 

[Red Storm]

I'm paying around $240/month for the wife and I through my employer. Pretty good coverage too, all x-rays and any other labwork costs $0, which we've already taken advantage of.

 

[Mxylplyx]

Healthcare is a joke in this country. We need more free market medicine.

Our obsession with free market solutions is precisely why our healthcare system is a joke, and costs an order of magnitude more than the rest of the world.