Last week we heard the news that the music teacher at our local high school had been involved in an accident on holiday. For as long as we remember he has touched the lives of just about everyone in this community who has had kids go through the school. He'd been found unconscious in the water in southern California while surfing and despite tests no reason as to why could be established. He was in a bad way, needed CPR and was placed into a medically induced coma where he remained for 5 days until yesterday when he sadly died. A tragedy!
But that's not the only tragedy, his family are now seeking help to pay his medical bills. If you're thinking $500 or maybe $1,000 then multiply those two together. Yes, $500,000. How can 5-6 days of medical care cost that much money you ask? So do I.....and people knock the NHS?
What percentage of a salary do people have to pay for full health insurance across the pond compared to what we pay through taxation in the U.K.?
Almost half of Britons pay no income tax while the richest are now shouldering the biggest burden on record, a new analysis has found.
The Institute for Fiscal Studies said that the proportion of working-age adults who do not pay income tax has risen from 34.3 per cent to 43.8 per cent, equivalent to 23million people.
Over the same period the amount of income tax paid by the richest 1 per cent has risen from 24.4 per cent to 27.5 per cent, meaning that 300,000 people pay more than a quarter of the nation's income tax.
I think it's you that doesn't "get it"
I pay about 8% into Social Security that covers pension and some basic healthcare in retirement. Luckily my employer pays most of my health insurance but if I was paying it would be about 18% of my gross income. If I was out of work I'd probably be able to buy some basic coverage for me and my daughters for around $1,000 per month.
Don't know the specifics of the teacher's situation but he would have had health and life insurance through his employer. The $500K is what is being reported that the family need to raise. Most insurance only covers 80% of costs and that 20% you are left with can be extortionate e.g. I know someone who needed heart surgery and his 20% was $250K. Luckily most policies have an annual max you have to pay, above which all costs are covered. Mine is $18K so I dont know why the teacher's situation differs so much.