McClatchy to Declare Bankruptcy?

If you were sideswiped by an 18-wheeler at a random intersection and a full trauma on an operating table after going through ER, one could burn through that much right away. Not at all joking. Though $2,000-4,000 sounds like a bit much unless you have a big family with a lot of clinical issues.

Now sure ... that truck could just as instantly kill us. Yes ... problem solved, etc. ... I know you will hammer the absurdity, but crap like that happens a little more often than one might think. The Humboldt hockey crash was a highly-publicized example because of how many lives were altered with a truck failing to stop as a bus went through one intersection.

Also, getting a life-altering diagnosis. Bad enough to get one of those for one's personal health ... but even worse without coverage. Carriers will instantly point to a coverage gap, which is all the excuse they need to deny a claim.

Problem is, these days, we cannot afford to run around without coverage. Yes, that sounds like something a greedy carrier would say who wants more people paying, but if you have any financial means and wish to ensure that you keep it, coverage is not an option.

Most who roll the dice will be fine. But there are a few who would willingly tell you how big a financial mistake it can be.

 

Health insurance is a necessary evil. You gotta have it.
Health insurance is a legal pyramid scheme. You gotta pay it.

 

Call an independent insurance agent and tell them your situation and what you are looking for. They should be able to give you options with several different insurance compankeies with different deductibles, maximums, premiums, etc., with recommendations for you.

You also could go to a captive agent, for State Farm, Allstate, Farmers, and so on.

 

Well we're all screwed then. I can't pay 2000 a month and soon will be fired like the rest of us.

 

thank u

 

Mass. will not let you sign up for a plan through the exchange if your employer offers a plan where it pays at least one-third of the cost — even if that plan is a dogshit plan.

 

I am not sure where the line is. But you demonstrate the free-rider problems inherent in the current system.

If you suddenly suffered a serious disease or injury and had to receive emergency surgery who would pay? Would the hospital perform the emergency surgery and then try to bill you for all that they could? Would you somehow get on Medicaid?

And I would suggest the costs of covering those skating by without insurance for a short period are far greater than someone who never has a job in their life.

Medicare for all.

 

When I was working on health plans the free rider problem was one we worried about constantly. We dealt with the problem by limiting enrollment periods, capping maximum benefits and not covering per-existing conditions.

I would guess the clumsy government policy you refer to is the decision to make company paid benefits non-taxable. In WWII companies set up group health policies so employees would not have to pay taxes on the benefits received.

But tax policies were created so that employees could pay premiums with tax deductible dollars. These are "cafeteria plans" and have been widely available since at least 1985 when I set one up for my employer.

One of the reasons that employers did not move en mass to offering individualized options through "cafeteria plans" is that there are substantial economies of scale to providing health insurance to a larger group. Older employees who generally had the most seniority would also be thrown into a lurch because they would have to pay much higher premiums.

Such economies of scale are the reason that private insurance companies offering Medicare Advantage plans have not been able to beat traditional Medicare on costs and have to spend heavily on television ads to lobby for the continuance of the program. It is also a reason that the USA spends a larger portion of its GNP on health care than other advanced countries with some form of universal care.

 

There were a lot of IRS rulings along the way the greased the skids. Benefits were the only carrot companies could offer after FDR froze wages and salaries in October 1942.

 

True. But pensions were another benefit that was tax deductible. When 401k's were invented in the late 70's that provided similar tax benefits private employees moved to the 402 (k) model. One of the reasons is administrating a 401 k plan for employees is cheaper administratively than running a pension plan. Economies of scale are minuscule.

But when Section 125 "cafeteria plans" were legalized at roughly the same time you saw no such move to abandon health plans. It is because there are tremendous economies of scale in procuring health insurance.

If you worked for a company that allows you the option of paying your health insurance deductible with pretax dollars you are on a Section 125 Plan. If you are paying with after-tax dollars your employer's HR and finance department are slugs,

 

Creditors seek to buy McClatchy.
https://www.mcclatchydc.com/news/nation-world/national/article242049651.html