This healthcare bill is facing a massive battle. At the core of the fight is simply this: Are we the kind of society that is okay letting people fail?
Let's make the healthcare bill simple, explain the two schools of thought and then share what I found as a surprising solution one year ago that works for my family.
Listen along to the whole show or read a brief overview below!
Let's Make This Healthcare Bill Simple. Ready?
Are we the kind of society that is okay with letting people fail?
That's ultimately the question we are answering. And there are two ways to answer:
1. Yes - And If we can accept that reality as a society, we will give people the choice to accept healthcare.
2. no - then, we need to find the balance of giving coverage if you are sick, but not forcing everyone to pay into it.
Republican leadership is trying to make everyone happy and that will not work. You can't have both young people opting out and then offer reasonably rpcied premiums to the sick.
"You can't have young people opt out and offer reasonable premiums to the sick."
Of course, if we offer cheaper plans super healthy people will buy them. And no fund will be able to offset that.
This will be fascinating to watch what comes from this.
Next week is the vote on the healthcare bill... so we will have a lot to talk about soon.
Here's Some Practical Feedback for You And Your Family's Finances
Let me share my healthcare experience.
We were paying $1,100 per month with a $7,000 premium. This was completely unsustainable for our family, understanding we would be out of pocket $19,000.
We investigated Medi-Share.
Medi-Share has been in business for more than 20 years now and claims to never miss a claim.
We now pay about $350 per month with a $10,000 deductible. And now, there is 100% coverage. It seemed like the right move for our family.
Medi-share isn't right for everyone, but it helped us.
The most important questions you have to answer when shopping for Medi-Share or similar coverage are:
Am I going to be charged a penalty for not having healthcare?
(Some co-op's are not considered health care and you will have to pay a large fine on your taxes. Medishare and many others do qualify - be sure you check.)
Will it work? And what's the catch?
(Historically they are proven to work. It does ask you to take on a little more work when you have a doctors appointment, but it may make sense for the savings it could bring.)
Consider Health Savings Accounts!
Health Savings Accounts (HSA) are different than an FSA and a flex-spending account.
If you put money into an HSA it is a deduction that year, and it's a tax-free use of the money long term, AND it does not expire at the end of the year like an FSA.
It will sit and grow year over year forever.
The only way you are offered that is if you have a high deductible health plan.
This not only helps with your taxes but also it grows tax-free money for medical use while growing year over year. This gives you incredible flexibility.We not know what is going to happen with the healthcare bill.