Wednesday, March 11, 2015
Duh
Where have you been all my life SoundCloud?!?! I'm in music heaven. Unlimited free music, sweet beats, NO commercials. Only had to skip two songs on random due to unfavorable lyrics, but man alive I'm in love.
Friday, March 6, 2015
Hack update on Obamacare health insurance
If you read this blog you'll know that I did a post on the year of the hack where I chronicled some things I did last year as it relates to hacking.
This year we're experimenting with going off of my employer provided "benefit" of health insurance and instead opted for trying Obamacare since at first glance we could get the same coverage, deductibles, network/hospitals, max out of pocket for a lower cost.
Only caveat is I haven't figured out where we'll land with tax credits and how that will increase/decrease our return next year (will find out more when we file our taxes later this year) and how that will play into the overall cost/savings of this experiment. I imagine there will also be a small "penalty" (tax no matter what the court justices semantically called it) we'll have to pay for not having insurance for approximately a month and a half this year.
So for the savings/results/math...
What I do know is that with us switching and even with losing the tax benefit of having my insurance deducted from my gross pay thus lowering my taxable pay or my net pay is dispersed that over the course of a year we're looking at saving an additional $1,100+ -ish in cash! That's an extra $11,000 over 10 years just by ditching my benefits offered at my work. Not too shabby.
I figure that with a small penalty of perhaps $20-$50 for not having insurance and even then taxing the credit at the highest rate of around 30% that our $1,100 savings boost would get lowered to about $700 or 7k over the course of ten years. Still enough to fund the purchase of a nice used car or beligerent vacation with the wifey!
I'll update this post once I've got more info.
This year we're experimenting with going off of my employer provided "benefit" of health insurance and instead opted for trying Obamacare since at first glance we could get the same coverage, deductibles, network/hospitals, max out of pocket for a lower cost.
Only caveat is I haven't figured out where we'll land with tax credits and how that will increase/decrease our return next year (will find out more when we file our taxes later this year) and how that will play into the overall cost/savings of this experiment. I imagine there will also be a small "penalty" (tax no matter what the court justices semantically called it) we'll have to pay for not having insurance for approximately a month and a half this year.
So for the savings/results/math...
What I do know is that with us switching and even with losing the tax benefit of having my insurance deducted from my gross pay thus lowering my taxable pay or my net pay is dispersed that over the course of a year we're looking at saving an additional $1,100+ -ish in cash! That's an extra $11,000 over 10 years just by ditching my benefits offered at my work. Not too shabby.
I figure that with a small penalty of perhaps $20-$50 for not having insurance and even then taxing the credit at the highest rate of around 30% that our $1,100 savings boost would get lowered to about $700 or 7k over the course of ten years. Still enough to fund the purchase of a nice used car or beligerent vacation with the wifey!
I'll update this post once I've got more info.
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