Planning on dropping Health Insurance. Change my mind.

[goeduck]

Yeah, you think it sounds stupid, but you don't have all the facts and haven't taken the time to think about it.

What areas of a town are the most run-down? The ones with rentals. So encouraging people to own their own homes is a good thing. Lowering their property taxes while they have a mortgage is a good incentive.

Making those that own their home subsidize those that do not is what it is. Not that it impacts me but I have a hard time with things that are not equitable.

 

[goeduck]

We view purchasing lottery tickets or gambling at a casino the same as going to a movie or a sporting event. It's entertainment.

As long as they keep it in check and can limit it, I agree with this.

 

[D2Cat]

Making those that own their home subsidize those that do not is what it is. Not that it impacts me but I have a hard time with things that are not equitable.

So the person who owns the rental house gets no tax deduction....because HE does not live there?

 

[MossRoad]

I never had health insurance till I was in my 30's. I don't know dude, it's tough call. $2200/year is a no brainer for me - pay it.

BUT, at 28 years old and at the salary I was making then, I'd probably forego it (in fact, I did). I gather most people on this forum are older. I bet many of them stating the stupidity of going without insurance probably also didn't have it when they were younger.

Since the subject has been so politicized, I think it's hard to find realistic advice. As someone mentioned earlier, the odds are technically against you in terms of cost since pay in has to be greater than pay out....But there are some wrinkles in there were insurance companies can and do (sometimes) negotiate lower rates for services than you could on your own. Only you can decide what's best for you.

I'm 57. I had health insurance through my parents as a child. After high school because I was enrolled in college as a full time student, I was able to stay on their policy until up to age 23, as I recall. However, during college, I had a full time job and two part time jobs. I was able to purchase my own health insurance through my full time employer since age 19. I've never been without health insurance. I carried the largest deductible possible when I was young and single. When we got married, my wife was of the same mindset. She's also been employed full time since age 19 as well. Always paid for health insurance.

 

[4570Man]

So the person who owns the rental house gets no tax deduction....because HE does not live there?

Wouldn’t he get the same tax deduction on the house he lives in?

 

[MossRoad]

So the person who owns the rental house gets no tax deduction....because HE does not live there?

The owner of the rental house gets to claim depreciation.

 

[MossRoad]

Wouldn’t he get the same tax deduction on the house he lives in?

You can only claim the mortgage homestead credit here on your primary residence.

 

[plowhog]

So if I want a sex change I need to commit a crime in California?

Thanks for sharing.

Sort of. If you want one for *free*, that's a good way to do it in California.

 

[plowhog]

They paid to have their old hospital torn down and the site prepped for the local Catholic high school to build a new building on the old hospital site at no cost to the high school. All free. As I mentioned before, they moved because too many low-income people live here and don't pay their bills. It's only about 5 miles as the crow flies, but a world away from the people that need affordable care and assistance the most. Very hipocritical for an institution that's supposed to be all about helping the needy. It's all about the money.

I have friends in the healthcare industry in Southern California. Time and again, hospitals are bankrupted from the same source. An indigent pregnant young woman, crack-addicted or meth-addicted, shows up. There has been no record of healthcare during the pregnancy, and the flurry of activity begins. Then a preemie baby weighing just a few pounds is born, and it costs $1 million or more to nurse the unfortunate infant to become as normal as it is capable of being. Mom and baby then checks out of the hospital-- paying nothing-- leaving a bill of seven figures behind for someone.

 

[plowhog]

The owner of the rental house gets to claim depreciation.

Yes but depreciation is a temporary avoidance of paying taxes, whereas a deduction is a permanent one.

When you sell that investment property, you have to financially cough back up all that depreciation you took along the years .....