Working for the insurance?

kcult

kcult

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Really only having one job (employer) my whole (so far) life, I've always had insurance. I don't have a side gig, or even a side chick, so my job is my only source of income.

I've heard several times over the years, (I'm, he, she) is only working here for the insurance.

Is it really that bad, that you can have a business or hobby or hustle, that will support you and your family, but to have insurance, you have to work for the man, taking eight or more hours out of your day?

I just turned 52 and am hopeful that, if the economy fairs well, I'll be leaving my job in the next three to four years. My wife is a nurse, but is PRN, so has no benefits. But, she would probably go full time, if needed.

Working only for insurance. Is that you?
 
Insurance is a perk of having a full time job. If you have to buy private insurance from age 55 until your Medicare kicks in, it can get pricey. I was still working full time when my Medicare kicked in and I was able to cancel the insurance at my workplace. Medciare will pay 80% and you get to pick up the other 20% unless you have supplemental insurance or a Medicare replacement plan.
 
One thing to consider is catastrophic health insurance as long you and your wife are relatively healthy but want to cover unforeseen catastrophic issues. Major issue with catastrophic insurance is they donā€™t cover preexistent issues.
 
If you have a W-2, box 12 code DD shows the value of health insurance benefits. It generally runs about $5,000-6,000 per person on the plan, including children.

Healthcare costs in the US total about $3.2 trillion for 325,000,000 total folks, or around $10,000 for every man, woman, child and other fluid-gender persons.
 
I've looked into private insurance and all I found was over 1k a month to get anywhere near the coverage I have now through my work. To get an exact duplicate plan that I have would run in the neighborhood of $1500 a month. Luckily I have low deductables and a low out of pocket compared to some of my friends. We have a lot of people working for my company that are retired and work enough hours for the health benefits just so they don't have to pay the 20% medicare doesn't cover as well as prescriptions.
 
My wife's job is for the insurance. I get care that runs about $500k a year so she's keeping the job that makes insurance affordable.
 
I wish we had insurance at our shop. And since BCBS is the only game in town, for me, and for a less than a $5000.00 deductible, would be over $1000.00 a month. Total BS.
Went to a doctor this past Tuesday for a wellness check, $288.00 out of pocket. I'm going back Monday for a blood panel, gonna be about $700-800 for that. Crap sucks.
 
My wife held onto a job that really challenged her sanity, because of the exceptional medical insurance. When she was ā€œdownsizedā€ (less than full time which meant no more benefits), she took her accumulated sick leave and vacation and said hasta la vista baby. Signing up for Yomama Care was terribly expensive for crap coverage.
 
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My wife still works part time for the hospital for the family insurance benefits. I ran quotes with BCBS to replace the coverage last year when both sons were still on the plan with us. It was $2500 to $3000 a month as I recall for comparable coverage that we were paying $700 a month for.
 
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We (wife and I) could each work part time (or one of us not at all) and live comfortably with a bit of belt tightening if health insurance wasn't such a damn criminal racket. Hers is the typical sky high deductible (as in, you don't have insurance until you've spent 5k out of your own pocket) and I have a PPO/high deductible hybrid, which is pretty nice coming from a similar ass rape plan as hers.

Back in the day, when I was young enough to not care about health insurance, and before the worst POS president to ever grace this country enslaved every working age human to fund his criminal constituents base's (free to them) healthcare, I could get by with temp jobs and side gigs galore.
 
OK, I have a good paying job and a booming side gig. I will not get into numbers on the open board but I think I can break it down without them.

2 weeks in the last 2 months I have been within striking distance of my job income with holster sales. Close enough to make me rethink a few things. And one week being the most I have ever made with holsters. And I always come to the same conclusion. No way I can ditch the real job for the side gig.

I have 12 years of seniority. I'm at top pay in my company. 4 weeks vacations and a week of paid time off. Another week of vacation on the horizon. Very good medical, great dental, and the best vision insurance in the country.

To replace all that, cover cost of the business, and be able to leave my job I figure that at a minimum I would have to have holsters sales of triple what my real job currently pays. Anything less and I'm sacrificing something and not actually replacing the job dollar for dollar. And at this point in my life I can't afford that.

So my decision is to keep the job, let the side gig run as hard as I can keep up with. And it's looking like this year will be the best financial year of my life with both of those incomes booming. FWIW, my income is the only one coming in for the family of 4. Sometime in the next 5 years I'll likely look at taking a slower run at the job and supplementing with the holsters. As I get older I may be able to leave the job and stay on the holsters if things work out. But one in college and another headed that way, I'm not taking those kinds of chances financially. I'm financially responsible for my family. I don't have to like the job. I've just got to do it and keep providing for those I am responsible for.
 
12151791 said:
One thing to consider is catastrophic health insurance as long you and your wife are relatively healthy but want to cover unforeseen catastrophic issues. Major issue with catastrophic insurance is they donā€™t cover preexistent issues.
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Thanks to Obozo and Roberts the Clowns, all insurance is catastrophic insurance.
 
chiefjason said:
I don't have to like the job. I've just got to do it and keep providing for those I am responsible for.
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Chief, I had a conversation with my Brother about 15 years ago about this same thing. He had been on a job for 25+ years, a good job but swing shift work. He was dissatisfied, having a rough spell more than dissatisfied. I told him.....The Minute you realize you Never have to go there for another shift, it will be a "pie job".
I have been on the same job for 55+ years, the last 20 of those have been a "pie job". I won't go to work when they tell me to Not Come Back. Too Much Pie...
My Brother and I had a conversation recently and he told me "you were right about that job". He hasn't worked in the last 5 years and plays golf 3 times a week. Living the life He wants....I am home everyday by noon....living the life I want....Life can be a wonderful trip but it requires planning and patience.
Just a view from an Old man that planned and at times was Not patient.
 
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premise said:
if health insurance wasn't such a damn criminal racket.
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Think about it. Two or more parties colluding in secret (insurance and providers) to fix the pricing and keep it secret from the purchaser is the textbook definition of racketeering. Remember earlier this year when the state budget guy, I forget is name, offered to pay the providers, of which the UNC system was the biggest, a flat rate of something like 210% of the Medicare / Medicaid rates instead of working through BCBS and they got turned down? Then they demanded to cost list for all procedures and got a pile of pages with the word redacted where the figure should have been. Yeah, weā€™re all getting ripped off while BCBS blames everyone and everything else.

I used to work with a guy whose wife was the liaison between UNC CH and BCBS, working for the latter. She was paid by that supposed ā€œnon profitā€ entity a salary sufficient for them to live in a near seven (7) figure home. Weā€™re all paying for that crap with zero say in the matter.
 
noway2 said:
Think about it. Two or more parties colluding in secret (insurance and providers) to fix the pricing and keep it secret from the purchaser is the textbook definition of racketeering. Remember earlier this year when the state budget guy, I forget is name, offered to pay the providers, of which the UNC system was the biggest, a flat rate of something like 210% of the Medicare / Medicaid rates instead of working through BCBS and they got turned down? Then they demanded to cost list for all procedures and got a pile of pages with the word redacted where the figure should have been. Yeah, weā€™re all getting ripped off while BCBS blames everyone and everything else.

I used to work with a guy whose wife was the liaison between UNC CH and BCBS, working for the latter. She was paid by that supposed ā€œnon profitā€ entity a salary sufficient for them to live in a near seven (7) figure home. Weā€™re all paying for that crap with zero say in the matter.
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Same as taxes. I'm paying for worthless bureaucrats with zero real world skill and the millions of denizens that can't be bothered to have ever cared for themselves.
 
Would have retired at 62.5 if insurance hadn't been a problem. I know several people that are only working for the insurance and would gladly say bye if they could. All I can tell you young whipper snappers is save all the damn money you can while you're young..................... The older you get the harder it is to save.
 
premise said:
Same as taxes. I'm paying for worthless bureaucrats with zero real world skill and the millions of denizens that can't be bothered to have ever cared for themselves.
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It occurred to me when I was about 23 years old as I stood in line at a convenience store to buy gas with my last five dollars that the obese woman in front of me buying junk food with food stamps was someone I'd be paying for twice. For her bad habits now, and her piss-poor health later.
 
Iā€™ve interviewed people who were clearly looking for a corporate job with benefits, solely for the benefits. They had successful consulting or software businesses but the cost of health insurance for their family was great enough for them to consider making that business part time.

I remember as a child, my parents owned their own business, and insurance was a killer back then.
 
I'm retiring from my present employer in 6 years (will have 30 years of service) and collecting my pension. Not enough to live on and with my wife and 3 teens I'll be going to work full time where I currently work prn. Last year I checked to see how much insurance would be for my family of 5 if paying out of pocket. $2100/month. When Obama was in office and right before Obamacare was to become law my insurance at my current job nearly doubled. That is not an exaggeration. My prn job has the same insurance company and the insurance increased a small amount. It is nearly half the cost of what my full time job is now.
 
Yep. Iā€™m an employee instead of a subcontractor now at my current job specifically for insurance...

Before the ā€œACAā€ I paid $100 a month for a workmanā€™s comp legality policy and another $150 for a ā€œdisasterā€ health care policy.

After ā€œACAā€ the same health care policy ballooned to over $600 a month for even less coverage. Being a younger guy I just dropped it and did without.

Couple years ago paid out of pocket for a health scare.... I now keep this job specifically for the affordable yet decent healthcare. My industry is booming and I could be making much more as a contractor but I would be well over 150% of current pay just to break even if I wanted the same level of healthcare.
 
BatteryOaksBilly said:
Chief, I had a conversation with my Brother about 15 years ago about this same thing. He had been on a job for 25+ years, a good job but swing shift work. He was dissatisfied, having a rough spell more than dissatisfied. I told him.....The Minute you realize you Never have to go there for another shift, it will be a "pie job".
I have been on the same job for 55+ years, the last 20 of those have been a "pie job". I won't go to work when they tell me to Not Come Back. Too Much Pie...
My Brother and I had a conversation recently and he told me "you were right about that job". He hasn't worked in the last 5 years and plays golf 3 times a week. Living the life He wants....I am home everyday by noon....living the life I want....Life can be a wonderful trip but it requires planning and patience.
Just a view from an Old man that planned and at times was Not patient.
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Debt free except for the mortgage. So don't have that breathing down my neck. Going to work knowing you don't have those debts over your head makes a difference too. And I don't believe that you have to "do what you love". No, I've got a family. I've got to do what I have to that provides for them. My duaghters might get to do things they love. But they had better guidance than I did.

We are making some plans. Slowly. One of those is to start winding down what I do at work. But I'd like to get about 5 more years at what I'm doing now with what I'm getting paid. Just not sure that's going to happen. They have been in a mood to make changes lately. Then again, we can't keep enough drivers for any of their changes to pan out. lol
 
Guess who pays the media to scream socialism every time the subject of Medicare for all is brought to the forefront. Today, the working class is footing the bill for all those above the age of 65 plus those below that age that meet the disability requirements bringing the total past a reasonable number in any sense of the word. It is past time to come to terms with health care and give the working class their fair share.
 
OldNascar said:
Guess who pays the media to scream socialism every time the subject of Medicare for all is brought to the forefront. Today, the working class is footing the bill for all those above the age of 65 plus those below that age that meet the disability requirements bringing the total past a reasonable number in any sense of the word. It is past time to come to terms with health care and give the working class their fair share.
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Please define ā€˜giveā€™ and ā€˜fair shareā€™. The devil is always in the details. Maybe it is past time for the government to GTFO of our business.
 
CZfool68 said:
Please define ā€˜giveā€™ and ā€˜fair shareā€™. The devil is always in the details. Maybe it is past time for the government to GTFO of our business.
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There is no devil in the details. Medicare works for those that can acquire it and only the workers in the country arenā€™t allowed any access. Paying taxes to a government throughout your working life to benefit others while unable to provide the same for your family is ludicrous yet the insurance scam continues to bleed them dry by running scare tactics about the dreaded socialist system.
 
I knew a guy up in his 80s who started working the minimum amount of hours but was reliable as all getout. his mom was his only dependent and he wanted her to have good insurance.
He didn't really need the $11/hr, he didn't want to excel, he didn't want extra responsibilities... he didn't want much but the insurance.
I liked him - despite his reduced abilities at his years, he was a better worker than lots of people 1/4 his age. He came to work every day, did his job without fussing, and filled a spot we sorely needed somebody in.
 
OldNascar said:
There is no devil in the details. Medicare works for those that can acquire it and only the workers in the country arenā€™t allowed any access. Paying taxes to a government throughout your working life to benefit others while unable to provide the same for your family is ludicrous yet the insurance scam continues to bleed them dry by running scare tactics about the dreaded socialist system.
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Yeah it works so well we have a thread about healthcare and insurance because everyone is so happy. Cramming more government inefficiency and waste into it isnā€™t going to fix anything. But some groups want their stuff I guess.
 
CZfool68 said:
Yeah it works so well we have a thread about healthcare and insurance because everyone is so happy. Cramming more government inefficiency and waste into it isnā€™t going to fix anything. But some groups want their stuff I guess.
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Government health care has been efficient but as usual time passes with graft and corruption the end result. Back in the 80ā€™s Bush #1 assigned a horribly wounded vet to run the Verterans Administration by the name of Max Cleland. In short time he had the most efficient hospital system in the country, private included. For his efforts he was quickly prompted to run for Congress, won the position, come a later election cycle managed to piss off Bush #2 and found himself without a government job. So goes America and the plight of itā€™s people. Our vote counts but our choices remain the same, groups like the insurance companies make sure of that.
 
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OldNascar said:
Government health care has been efficient but as usual time passes with graft and corruption the end result. Back in the 80ā€™s Bush #1 assigned a horribly wounded vet to run the Verterans Administration by the name of Max Cleland. In short time he had the most efficient hospital system in the country, private included. For his efforts he was quickly prompted to run for Congress, won the position, come election time managed to piss off Bush #2 and found himself without a government job. So goes America and the plight of itā€™s people. Our vote counts but our choices remain the same, groups like the insurance companies make sure of that.
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It has been efficient but there is graft and corruption? :rolleyes:

Never mind.
 
Jeppo said:
My wife held onto a job that really challenged her sanity, because of the exceptional medical insurance. When she was ā€œdownsizedā€ (less than full time which meant no more benefits), she took her accumulated sick leave and vacation and said hasta la vista baby. Signing up for Yomama Care was terribly expensive for crap coverage.
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When I worked for the small company, just 2 of us, the insurance cost $27K per year, company paid $15K. Deductible was $7200ish. Max out of pocket was $14.3K. We paid $7K out of pocket for my wife's eye surgery.

For giggle, I priced out the same place on healthcare.gov. >$36K, so max per year >$50K.
Bummercare was fully intended to eff over the middle even harder, buy more votes from the working but still lower income.
There is not a single democrat that does want people "voting in their self interest." They are shocked when lower income people vote for liberty and call it "voting against their self interest."
 
My wife just went from 1099 to in-house.

Since 2005 my employment held the benefits. Now, She hold her and the child, I dropped all others from me, because I have VA coverage. we are now saving $600 a month to go directly into our pockets.
 
It's been over a freaking year since I started this thread? Heysoos!

The question is still valid, but my wife has since moved on to a full time gig at a private practice and could get their insurance when I bolt.
 
There have been times in my life when the insurance/benefits were what kept me at a job. Especially, one I was weary of.

Insurance/benefits is definitely one of the perks/attractions of a job. (Or was.)

But, guess why companies offer insurance/benfits? Because, they are one of the perks/attractions of a job.
 
I have come to the understanding that my employment allows me to live a lifestyle I am happy with. It affords reasonably price Insurance for a family of 4 and a 1 income household. $2k company paid HSA contribution each year + whatever I put into it.

Dental, Health, Vision, company paid life insurance, additional life insurance, spouse and child life insurance, long term leave coverage, accidental death and dismemberment insurance, HSA for about $500 a month.

I have the possible opportunity to move employers from a large(4500+ employee) to a small company(~8). Pay would be higher, commission bonus higher, but unknown on quality on price of Insurance and personal flexibility.

I get to make my own schedule, I get home when I finish my work in the field. Some days its 4-5pm. other days it may be 1-2pm. My children are young(under 10), but I have a boss that is understanding. If I complete my work, I'm good. Make myself available to emails and phone calls the rest of the business day.

Is that worth staying? the work is not hard, I am a top performer.

I have said that if they took the flexibility away, my pay would need to increase about $15K. Because that is what I value my flexible schedule as being with home and family time.
 
We had a girl at my place that only worked there so she would have insurance, her real money maker was bartending (she was in fact rather quite good looking). If you buy insurance on your own you have these issues:

- you have no pool of people to negotiate for like a company does. Thats's negotiation power to get the price down
- each and any health issues you have will drive up the price
- your company actually pays far more than you do for your insurance. If you insure on your own you pay it all.
 
My wife worked for Salvation Army. The salary was a joke but the insurance was very generous. She stayed until she was reduced to part time (in order to delete her benefits).
 
Carry myself, wife and the kids on my insurance. When I was at the FD, it ran $500/monthā€¦considering the costs of my medical expenses over the past year ($250,000+), I got a deal.

After retirement, insurance went up to $1431/month.
 
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