SS Sucks
For those of you that aren’t familiar, your Social Security benefits are based on the average of the highest 35 years of you wages adjusted for inflation. The, in 2021, you will get 90% of the first $11,952, 32% of the next $60,072, ONLY 15% of the next $70,776 and NOTHING for anything over $142,800.
Turns out you will be 63% WORSE off getting social security than you would be if you would have been able to take all of your Social Security taxes and just invested it in abroad stock market index.
Obamacare Sucked
Obamacare increased my Health insurance premiums from around $6000 a year to over $12,000 per year and it significantly increased my deductible and out-of-pocket maximums. Why? Just as predicted, the design of Obamacare distorted the risk pool of private insurance resulting in higher premiums and costs. So, my health insurance premiums clearly did not go down, and they tried their best to make it so I couldn’t keep my doctor.
Medicare is Unfair
Unfortunately (maybe luckily) I will be turning 65 next year and eligible for Medicare. As I start looking at my alternatives I was pleasantly surprised to see that my insurance premiums will now drop to a minimal amount of around $2000 per year and that will cover all my medical expenses (except for prescription co-pays.) No more out-of-pocket. No more deductible.
Obviously, selfishly, I’ll enjoy the savings. But given my financial status and the financial status of our country, it seems like our country is pretty screwed up giving me such low price healthcare.
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