I think I am beginning to understand the situation. Subsidy cannot be available to everyone, a certain income level has to be used , you may debate whether it is too arbitrary, too high or too low, and the true cost of health insurance coverage, if not subsidized by the employers or the government, will be shockingly high. The only thing one can do is to reduce the withdrawal rate to stay below the cut off level to avoid paying the unsubsidized rate until one qualifies for MediCare. But is that not cheating in some sense : if one has millions sitting in a retirement account, but withdraws only $30000 a year so he qualifies for the low rate?
Well if the budget allows only Big Mac and French Fries, I will not (and not entitled to) complain that it did not taste as good as those at Ruth's Chris.yes but you will not have your choice of health plans. subsidized plans tend to be bid on by providers that supply mostly medicaid plans-at least that is what happened in mass.
these low cost providers offer plans that pay low rates to doctors-so doctors don't enroll in them. you can get subsidized plan but don't count on your doctor or facility to be in it.
But is that not cheating in some sense : if one has millions sitting in a retirement account, but withdraws only $30000 a year so he qualifies for the low rate?
State exchanges will determine which plans are offered. So far, 18 states have firm plans for single state exchange, 7 will partner, and 26 (including DC) will default to a feredally run exchange. Until they actually start putting plans out there, we really don't know what they will offer.
I am always straggle with this dilemma personally. The question is - one lived LBYM and saved millions and another (with same wages) did not save at all. How about qualification review?
I strongly believe in and practice LBYM, but my thought was that it is slightly unseemly to pass oneself off as having minimal income to take advantage of subsidy not meant for those who are actually worth millions.
State exchanges will determine which plans are offered. So far, 18 states have firm plans for single state exchange, 7 will partner, and 26 (including DC) will default to a feredally run exchange. Until they actually start putting plans out there, we really don't know what they will offer.
in mass. ....
If you make your financial decisions based entirely on your needs and requirements you should have no worries. If your decisions result in tax credits, they are no different than any other credit you are entitled to.I am with you on that. But it still it feels unseemly and difficult to make those type of decisions based on size of saving account without considering life-time contributions to society, taxes paid etc. and fairness overall.
If you make your financial decisions based entirely on your needs and requirements you should have no worries. If your decisions result in tax credits, they are no different than any other credit you are entitled to.
So, do you guy who live in Mass - do you like your HC or not?
I strongly believe in and practice LBYM, but my thought was that it is slightly unseemly to pass oneself off as having minimal income to take advantage of subsidy not meant for those who are actually worth millions.
I too hold little respect for folks with huge financial resources tapping into public funds just because they're smart enough to work the system. ...
It's so bad, I even opt to buy my MIL's groceries every week when she could be on SNAP due to her low income....
... It's just not in my genes to sip from the public pond when I have my own bucket of water. ....
I strongly believe in and practice LBYM, but my thought was that it is slightly unseemly to pass oneself off as having minimal income to take advantage of subsidy not meant for those who are actually worth millions.
I strongly believe in and practice LBYM, but my thought was that it is slightly unseemly to pass oneself off as having minimal income to take advantage of subsidy not meant for those who are actually worth millions.
I"m always amazed at a mindset to penalize those who've LBYM, pay their bills, paid millions in taxes over their lifetimes and entered into social contracts (SS/Medicare) and then when it's time to pay up are being questioned as to their being deserving. THAT'S whats not fair.
I strongly believe in and practice LBYM, but my thought was that it is slightly unseemly to pass oneself off as having minimal income to take advantage of subsidy not meant for those who are actually worth millions.
If you make your financial decisions based entirely on your needs and requirements you should have no worries. If your decisions result in tax credits, they are no different than any other credit you are entitled to.