(Closed) S/O: what percentage of your income goes to health insurance?

posted 7 years ago in Married Life
  • poll: What percentage do you pay?

    My job provides my insurance, so I don't pay anything

    5% or less

    10%

    More than 10%

  • Post # 17
    Member
    9541 posts
    Buzzing Beekeeper
    • Wedding: August 2013

    I have my husband and myself on health insurance through my work, which costs me just under 5% of my gross salary (so it would be 2.5% if it was just me). My taxes are about 17%. So added together, about equal to your 20%. BUT that’s just my premium. I also would have to pay co-pays and a high deductible if I get services other than regular preventive care. I also put another 4% or so into a Health Savings Account, which is tax free so long as it is used for a medical expense ( for myself or my family members) and lasts throughout my life. I don’t have many health expenses now, but I’m sure I will one day, so hopefully I’ll be able to avoid out of pocket expenses and use the tax free money I’ve saved in my HSA!

    Post # 18
    Member
    2513 posts
    Sugar bee
    • Wedding: February 2015

    0% for our very generous extended benefits (massage, chiro, physio, 100% drug, 100% dental, accupuncture, orthotics, vision care, orthodontics, world wide travel, psychological services, etc.)  And we get top up to 80% while on mat leave (1 year).  It’s all employer paid.  And I get penny for penny matching to my RRSP. 

     

     

     

    Post # 19
    Member
    919 posts
    Busy bee
    • Wedding: July 2013

    Me plus my husband is a little under 5%. That’s for health, prescription, eye, and dental coverage. I have really good insurance benefits through work.

    Post # 20
    Member
    46 posts
    Newbee
    • Wedding: July 2013

    My job provides my insurance but I have to pay a little something every month, and the amount depends on the elected plan. For me alone the HMO plan I chose costs about 2% of my after-tax income.

    If I had to cover the whole premium for a similar plan I’d have to spend about 25% of my after-tax income. In that case, paying more taxes would be a better deal.

    Post # 21
    Member
    13889 posts
    Honey Beekeeper
    • Wedding: November 1999

    It honestly really depends on your employer, and which plan you opt to select.  We have five or six different options for plans to select at my employer, all of which come at different costs and coverage levels.  I pay less than 1% of my income, pre tax, for my high-tier health policy.

    Post # 22
    Member
    1812 posts
    Buzzing bee
    • Wedding: May 2013 - Pavilion overlooking golf course scenery, reception at banquet hall

    We work at a family business that is too small to afford offering insurance to its employees (we’ve looked!). My husband and I have our own individual policies and it adds up to about 2% of our monthly income (post-tax). Mine is more than his because I have a vagina, yaaaay.

    ETA we do not have dental or vision.

    Post # 23
    Member
    463 posts
    Helper bee

    The cost of my health insurance is hidden from me because my employer pays it. But for me it’s a matter of principle, not just cost.

    Routine healthcare would be more accessible if people paid for it directly, like they do for other necessities. When insurance covers routine care, it drives up costs, because patients have no reason to comparison shop on price, and providers have no reason to control costs.

    I pay directly for my healthcare, because I have high deductible insurance. It’s like car insurance – the insurance is there in case something really bad happens, not as some kind of inefficient way to get someone else to pay for my pap smears and chiropractic. The current system is so bad, and it’s really obvious why everything is so expensive and horrible. Unfortunately involving the government, like with Obamacare, is just making everything worse.

    Post # 24
    Member
    3728 posts
    Sugar bee
    • Wedding: City, State

    @Twiglets: It is way less per capita to do it the UK/Canada way than the US way. Don’t let the polls fool you– this is not a representative sample.

    I have a fantastic job that people believe had great benefits. I pay 5% for myself or 11% for my family and I am lucky. I am even luckier that with DH they pay for our family for under 5%. But we aren’t average Amercians with average jobs–we are really lucky!

    Post # 25
    Member
    1841 posts
    Buzzing bee

    mine is 6% and it coveres almost nothing.  have a 10k deductable and no dental and vision. I am a private payer though becuase my employer doesn’t provide anything

    Post # 26
    Member
    509 posts
    Busy bee
    • Wedding: October 2016

    I am VERY LUCKY. I have a part time job(second job) that covers myself, kids and husband. Usually we paid $10 copayment. We have huge  medical issues, diabetes, anemia, ulceritis colitis,  arthiris  etc all our treatment will cost us at least 50k a year, i feel blessed we have very good insurance.

    Post # 27
    Member
    258 posts
    Helper bee
    • Wedding: October 2013

    Very interesting topic! As an American expat living in Australia (where we have universal healthcare as well), I’ve always meant to crunch the numbers, but never got around to it.

    Here, our taxes ARE higher than the US, but I still strongly feel my quality of life is far better here than it was in the US. Healthcare doesn’t sound quite the same as in the UK – here, everyone is covered by Medicare, but if you make over a certain amount, you also have to have private insurance (or you pay a levy on your taxes). My private insurance is 1% of my net income. That covers dental and vision and a good chunk of chiro, massage, physio etc  (among other “extras”).

    My employer paid my health insurance in the US, but I didn’t feel it was as good as I have it here. I also made a lot less money there (for a similiar job), and that’s factoring in the exchange rate and cost of living (the whole “big mac economy” theory!), so I prefer the Aussie way!  

    Post # 28
    Member
    627 posts
    Busy bee

    I have insurance through work, but I still have to pay if I want anything other than a very basic plan. Since that option wouldn’t work for my family, I pay around $60 per paycheque to supplement. 

    Post # 28
    Member
    6112 posts
    Bee Keeper
    • Wedding: August 2012

    We are each on our own High Deductible Health Plan HDHP and there are no monthly premiums.  All preventative care visits are also free.

    Post # 29
    Member
    5658 posts
    Bee Keeper
    • Wedding: August 2012

    My premium is about 2% of my income per month. It’s very minimal and I have great insurance.

    However, I’d kill to get a year of maternity leave, especially paid even if it was paid by my own taxes. I also know my company (as with many) took a huge hit this year in the cost of employee premiums and we are fortunate enough that they chose to continue to cover most of the premiums for us.

    Post # 30
    Hostess
    3571 posts
    Sugar bee
    • Wedding: June 2011

    I have an independent plan because I run my own business. I have one of the cheapest plans at $180-200/month and the max deductable – $6500. Everything after that deductable is 100% covered. So yeah, my insurance is pretty much for getting hit by a bus, getting risked out of midwifery care, etc. DH’s plan is different than mine.. I don’t remember the terms, but his is something like $100 a month. If I wanted a platinum or gold plan under the ACA standards, it would cost me $700 a month FOR JUST ME. We dont’ qualify for tax breaks, but since we’re also paying off student loans, that’s way more than we can afford. (It would be something like 33% of what I’m making right now just for insurance) For what we’re getting, it costs a fortune. I think the cost of health insurance really prohibits a lot of people from even trying to run their own business because it’s just so expensive. It’s sucky, because it easily prevents innovation and job growth.

    ETA: I have a separate dental plan, but don’t remember how much it is. I don’t have vision.

    • This reply was modified 6 years, 7 months ago by  .

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