UK taxes vs US taxes

[mawilson 2,133]

Where did I factor into this?

I thought you said UK taxes were lower. (Or maybe it was someone else --

it was a long time ago.)

For a long time I thought they were more or less the same, and today

I decided to check.

It's not an argument about the cost of consumer goods it's an argument about taxes.

Precisely, it's about taxes and taxes alone. Why does everyone keep wanting to

include the costs of health insurance?

Anyway, I have employer-sponsored health insurance here and it doesn't cost me

a penny.

That would make you (you personally) better off, but I can't really say the same.

Does health insurance really make that much of a difference?

Edited August 31, 2007 by mawilson

[Dan J 277]

Where did I factor into this?

I thought you said UK taxes were lower. (Or maybe it was someone else --

it was a long time ago.)

For a long time I thought they were more or less the same, and today

I decided to check.

It's not an argument about the cost of consumer goods it's an argument about taxes.

Precisely, it's about taxes and taxes alone. Why does everyone keep wanting to

include the costs of health insurance?

Anyway, I have employer-sponsored health insurance here and it doesn't cost me

a penny.

That would make you (you personally) better off, but I can't really say the same.

Does health insurance really make that much of a difference?

Depends how much you use it and whether or not your employer picks up the tab. Health insurance for a family costs about $900 per month, maybe less if you take the high deductible HSA route. Thats about $10,000 per year. Which is a significant portion of your income if your family only makes $50,000 per year.

[Trumplestiltskin 5,791]

Where did I factor into this?

I thought you said UK taxes were lower. (Or maybe it was someone else --

it was a long time ago.)

For a long time I thought they were more or less the same, and today

I decided to check.

It's not an argument about the cost of consumer goods it's an argument about taxes.

Precisely, it's about taxes and taxes alone. Why does everyone keep wanting to

include the costs of health insurance?

Anyway, I have employer-sponsored health insurance here and it doesn't cost me

a penny.

That would make you (you personally) better off, but I can't really say the same.

Does health insurance really make that much of a difference?

Well the premiums are variable. On my plan - the wife and I pay about $250-$300 a month for our premiums. Oddly enough while she makes more than me - the health plans on her company are a lot more expensive. That said - we're both young and relatively fit. Compare that to say my FIL, whose heart condition puts his premiums through the roof. In other words - as you get older it becomes more of a financial drain.

If you're comparing taxation between the US and UK you do have to consider health expenditure - in the US its fairly easy to isolate and separate the (base) cost of health care provision from your income deductions. Can't really do that with the UK - as its all-inclusive. So without considering that - I don't think you can make a very valid comparison.

[mawilson 2,133]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

[Dan J 277]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

Go to ehealthinsurance.com and see what it would cost you to get a plan independently.

[Ban Hammer 13,746]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

that's cheap, my company is 1400 a month.......

[mawilson 2,133]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

Go to ehealthinsurance.com and see what it would cost you to get a plan independently.

It's not that bad, actually.

HMO: Atlantis Health Plan $300.27

Full Coverage HMO with Rx Self-Employed People and Small Business Owners

POS: Atlantis Health Plan $324.37

Full Coverage POS with Rx Self-Employed People and Small Business Owners

PPO: GHI $415.62

GHI Alliance Value Plan

HMO: Atlantis Health Plan $262.00

Full Coverage HMO with no Rx Self-Employed People and Small Business Owners

PPO: Oxford Health Plans $275.64

Freedom HSA Direct for Sole Proprietors

etc - all between $200+ and $400+

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

that's cheap, my company is 1400 a month.......

You're paying $1,400 a month or your company is paying?

[Ban Hammer 13,746]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

that's cheap, my company is 1400 a month.......

You're paying $1,400 a month or your company is paying?

that's what the company charges. i don't pay that as i've got medical thru the military.

sucks to have to pay for medical with the company though.

Edited August 31, 2007 by charlesandnessa

[Dan J 277]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

Go to ehealthinsurance.com and see what it would cost you to get a plan independently.

It's not that bad, actually.

HMO: Atlantis Health Plan $300.27

Full Coverage HMO with Rx Self-Employed People and Small Business Owners

POS: Atlantis Health Plan $324.37

Full Coverage POS with Rx Self-Employed People and Small Business Owners

PPO: GHI $415.62

GHI Alliance Value Plan

HMO: Atlantis Health Plan $262.00

Full Coverage HMO with no Rx Self-Employed People and Small Business Owners

PPO: Oxford Health Plans $275.64

Freedom HSA Direct for Sole Proprietors

etc - all between $200+ and $400+

Add a couple kids to that

But it does cost a business more with a group plan as the insurer is required to accept people who have pre-existing conditions.

[mawilson 2,133]

Well.....$900 or even $250-300 a month is a LOT. That's $250-300 each, right?

If I had to pay $900 per month, I'd probably stay uninsured.

that's cheap, my company is 1400 a month.......

You're paying $1,400 a month or your company is paying?

that's what the company charges. i don't pay that as i've got medical thru the military.

sucks to have to pay for medical with the company though.

Why do they call it employer health insurance then if you're the one paying for it?

[w¡n9Nµ7 §£@¥€r 123]

Why do they call it employer health insurance then if you're the one paying for it?

Even if the employer pays for it, they figure their contribution to your benefits as part of their total expense for keeping you as an FTE. In other words, if they didn't have to pay for it, they could afford to actually make that part of your base pay instead of your bennies.

Of course, if they didn't pay for it and you didn't pay for it then... someone else would. And the charge would probably trickle down to you anyway, in some other form.

The only real way to reform healthcare isn't to tinker with the payment system but to reduce actual costs. Paperwork reduction is a good step, but I doubt it'll be enough. What we need is a system that floods the market with doctors and meaningful tort reform limiting the amount of $$ one can sue for.

[Heracles 417]

There are also other factors to consider. Most people are probably employed around or in London. the rent there is astronomical. Plus you also have a 17% VAT on everything.

what about petrol prices? Or stuff like the tax to drive into London..

A 33K pound salary in the UK is useless. You need at least 50K pounds to live an equivalent US lifestyle.

Ps I don't know what people are smoking because the UK is renowned for being expensive to live in..

Edited August 31, 2007 by Boo-Yah!

[Trumplestiltskin 5,791]

There are also other factors to consider. Most people are probably employed around or in London. the rent there is astronomical. Plus you also have a 17% VAT on everything.

what about petrol prices? Or stuff like the tax to drive into London..

A 33K pound salary in the UK is useless. You need at least 50K pounds to live an equivalent US lifestyle.

Ps I don't know what people are smoking because the UK is renowned for being expensive to live in..

Well a lot of people who work in London don't live there - in fact 33K would get you a fairly decent standard of living in one of the satellite towns on a commuter rail route (I've done it). To live comfortably in London you need around 75K to make it work. But even so - you'd still think twice before living there. Apartment rents are as much or more than NYC.

[SteveLaura 0]

Most people are probably employed around or in London.

[mawilson 2,133]

Well a lot of people who work in London don't live there - in fact 33K would get you a fairly decent standard of living in one of the satellite towns on a commuter rail route (I've done it). To live comfortably in London you need around 75K to make it work. But even so - you'd still think twice before living there. Apartment rents are as much or more than NYC.

Agreed - at the same time you don't need $150K to live comfortably in NYC.