Sorry, it's not considered insulting language here. So how much in taxes do they take out for health insurance? Here they take out 6% of your pay check for Social Security, and 4% for Medicare, both are programs for seniors. And the employer has to match that 10%. I'm guessing NSH eats up some serious tax dollars over there because it includes everybody, and everybody (kids) doesn't work.
Thanks. So you basically pay 12%, which is quite a bit. Here my employer (US gvt.) pays the lion's share of my insurance premium (about 75%) and that benefit is not taxed. I pay $230/month for the 2 of us, with a $700 deductible and copays. So it's a tiny portion of what I made. 12% would be a lot of money.
and how much tax do you pay? We have to pay tax, Ni, pension contributions etc , Employees have it deducted from our wages. The self employed pay less NI but are entotled to fewer benefits if thing go pear shaped. On top of that we pay VAT of 20% on most items. The main exemt item is basic foodstuffs. Then we have duties, levies, duties on top. Plus we have far fewer allowable deductions than in the US http://www.uktaxcalculators.co.uk/
Like I said we get 10% taken out of our pay for combined Social Security (a pension of sorts) and Medicare (senior healthcare age 65). As for your VAT our total sales tax is about 8.5% in most states (excludes food like you). The Social Security tax stops on income over about $100,000. The Medicare tax has no cap.
Yes medical care is ridiculously expensive here compared to other nations. And Obamacare did nothing to change that. I'm all for having "Medicare for all". Medicare limits costs better than private insurance companies. We'd probably only have to pay another 2% tax on income to have that. Just a guess.
compared to our 20% income tax (40% above £42,000ish) plus 12% National insurance plus prescription charges plus optional private medical plus VAT 20%. Prescription charge rate only applies to items the GP is willing to write a prescription for. A lot of us have to buy our own meters and ancilliaries.
The fact that everyone whose earnings exceed a certain figure contribute to a shared pot is the reason why the NHS was so effective. When we need medical help the NHS is there and when we are earning we pay our share into into the pot. When my American sister in law died her family had to hand in the keys of the house to satisfy the medical bills.My experience with US health care is that for the "underemployed", it's expensive. Now in my mid-50's, I work 20 hours a week so have to buy my health insurance at a cost of $550/month. In addition, not much is covered until I reach my $6,000/year deductible. Don't know what my prescription benefit is (because I don't take any medications). I pay for my own glucose test strips, which cost me 18 cents each. My goal is to eventually find a full-time job with benefits, but that's at least a year or two away.
Once I reach age 65, my health care will be much less. Counting down the years...
Yeah I know. I couldn't get medical insurance because I was self employed and have diabetes. I bought a catastrophic plan with a $20,000 deductible for $150/month. So I paid full boat for insulin. For awhile I could get it half price from Canada though which was nice because I just write my own prescriptions. Obama made the Canada thing illegal. I figure I saved $100,000 during the time I was self employed not buying expensive health insurance (which I didn't ever need). And the money I put aside for the deductible went up by 50%!
