US and pensions

[marypoppins38]

Originally Posted by Tinkerbell

Thanks for that info, I leant something there. I had no idea that Medicare as such was not free.

Makes the NHS look like paradise. How lucky is the U.K. to be one of the few countries left in the word where healthcare is still free at the point of use.

I’m sure, like you, many people still enjoy their jobs well into old age but the thought of having to work through fear of illness is a terrifying thought.

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We are incredibly lucky to have our NHS. It may not be perfect but it’s there for those who need it most.

[Bestbubba]

We have friends in the States, in their 70s. They pay nearly $600 per month even though they are on Medicare. This is for all their various medications. They're always quite scathing if I say I'm waiting for an appointment for an xrays etc, why are you waiting, my doctor would send me straight from his office, kind of thing. It's not perfect, but I'm so grateful we have our NHS.

[tspill]

Originally Posted by munmun

Medicare is not free, most people have to make a monthly payment of around $140 per month.

Other payments are required for drugs, doctors visits, consultant appointments etc.

It is preferable to be in employment and get company healthcare insurance.

I am sure many people love the job but the benefits are important.

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I believe it is way more that $140 per month. We have friends and they pay many hundreds per month (I think they said $900 / month). But most employers offer it as part of their remuneration package.

[Nimbus]

Originally Posted by DonnaD

There is a "state pension" in the US. It is called Social Security and is quite similar to the UK. I believe the payment amounts vary more though based on how much you pay in.

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Yes, I was going to say that although the US doesn't have a "state pension" it does have Social Security, which amounts to the same thing. I suspect the rules are a bit different to the UK's state pension. In addition, civil servants that used to work for the state get an additional pension.

(A quick google search produces an article that says the average monthly Social Security benefit for retired workers was $1,412, or just shy of $17,000 a year).

Originally Posted by Tinkerbell

Makes the NHS look like paradise. How lucky is the U.K. to be one of the few countries left in the word where healthcare is still free at the point of use.

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Although it's (mostly) free at the point of use, most of us do still pay monthly for it through our tax and national insurance contributions. So, in effect, we are sort of paying health insurance. I think it used to be the case that someone who was paid £25K a year would pay £1K a year to the NHS through their wages.

[400ixl]

401k is their defined pension plan which an employee (and employer) contribute to getting the tax benefits etc similar to the UK system.

en.wikipedia/wiki/401(k)

Healthcare wise you have:
Medicaid (government funded for those that qualify under social welfare) en.wikipedia/wiki/Medicaid
Medicare (government run, but citizen funded) en.wikipedia/wiki/Medicare_(United_States)

Then you have fully private from work schemes or personal schemes in a similar way to the UK (Bupa etc).

[ChoppyGirl]

All interesting stuff thank you

[ChrisS]

A US friend, on Medicare, pays c$300 a month for a top up policy to ensure full coverage. His 3 month supply of Invokana (diabetic) co-pays at $295 (CVS bill the US Gov $1200), with other meds he's paying c$500 a month. Prior to Medicare his insurance was c$900 a month with a $6k a year co-pay afore his insurance kicked in.

He thinks our NHS is superb, more so when I advised UK diabetics are given Invokana free of charge. The US Gov purchase such huge quantities for Medicare members that CVS discount Invokana from $1500 to $1200, could you imagine diabetic Brits having to pay $500 a month for Invokana? It's imperative we fight tooth and nail to keep our NHS, alternatives, ie: the US system, are genuinely frightening and would be financially impossible for so many, hence why Trump was told in no uncertain terms any US trade deal would not include US companies slithering into our NHS. Another US pal suffered a second stroke because one of his required meds is $495 a month, their insurance has a large co-pay and they simply cannot afford to pay for required meds. Another (uninsured) is looking at circa $400k for Medivac and intensive care following a heart attack, she required 3 stents and was in ICU for 3 nights, they're attempting a payment plan but any deviation could see them lose their home if sued for her medical bills.

Cherish our NHS, it's the brightest jewel in our crown.

[keith&carol]

My sister who is deceased now, lived in Florida for many years. The local church she attended collected food every week for two couples who couldn’t get Social Security because they owned their own homes but they couldn’t sell because the houses were so run down nobody would buy them.
I am so glad we live in a country where this wouldn’t happen.

[EssexSue]

Originally Posted by keith&carol

My sister who is deceased now, lived in Florida for many years. The local church she attended collected food every week for two couples who couldn’t get Social Security because they owned their own homes but they couldn’t sell because the houses were so run down nobody would buy them.
I am so glad we live in a country where this wouldn’t happen.

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Hmm well I never expected to be donating to food banks to be honest.

[lizzie145]

People moan about the UK but we are very lucky compared to others. American puts out that they are such a great country but there are so many things that aren't good