351–360 of 563 posts
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The money saving move is to pay for the insurance via COBRA only after you need healthcare, since it’s retroactive.
If you go entirely without coverage you'll likely still have to pay a fine on your taxes, though it's probably less than COBRA.
https://web.blockadvisors.com/tax-reform-removes-the-afforda...
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It's not pedantic, a lot of people will die because people were saying, "It's just a flu" and not properly preparing or isolating.
Context and audience matter. If you're getting up in front of a bunch of people and advising them that it's "just like the Flu" you're doing damage. If you're invoking the flu as a parallel for illustrative purposes with an informed audience then it's pedantic to call it out.
2. It's not an informed audience if misinformation is not challenged, it's a misinformed audience.
3. The flu is a bad parallel. The flu, while annually killing lots of people, does not overwhelm hospitals like a novel virus does. At best it makes people think this is like swine flu, while it has quickly shown to be nothing like swine flu.
For those living in cities that are locked down, what do yall do about daycare? In NYC, my daycare isn't reimbursing fees, so we're continuing to be charged with a promise of "if insurance pays out, we'll pass it down." With 2 kids, that’s $5,000. Assuming they’re closed for 3 months total, that’s $15,000 down the drain. Now, I get that they're a small business, but their problem is that they can't exactly layoff the…
It's very unlikely most business interruption insurance policies would cover a pandemic. I'm sure there are many small businesses who think they've planned for this situation whose insurance claims will be immediately denied.
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"These employees will be strained to pay for COBRA." That is a huge understatement. Especially for anyone that needs family coverage. The rates I paid when self-employed were more money per month than my entire paycheck until I was in my late 20's.
Exactly, I worked at a Fortune 500 tech company and family coverage for COBRA was close to $2000/month. Many employers pay 80%+ of the share, and suddenly taking that all on yourself can be extremely onerous.
My job has been inundated with applications from people who are not even in tech in any way (think like barbers & home depot workers). I see now why so many companies use automation to filter out resumes.
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While many people will likely get very sick, they only stay that way for ~2-6 weeks. Further, around half of people below 50 will show minimal if any symptoms. So, while most non essential jobs are shut down we are likely to see a surplus of labor in terms of trucking etc. My guess is plenty of essential jobs will have heavy overtime while many people are unemployed. Simply because the disruptions are going to cascad…
> around half of people below 50 will show minimal if any symptoms. I have a middle finger for you for how cold hearted you sound. As though “it’s no big deal”. My wife went through this (previously healthy 34 year old) and it was terrible. The docs just said: “there’s nothing more we can do”
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It is free money, which is technically a tax credit for the 2020 tax year. Since that would not be filed for another year, they advanced the issue date based on previous tax returns. If you made $150k last year as a single person but just lost your job and end up out of work for 6 months, you won’t see your credit until you do your taxes next year. It is not an advance on your normal tax return.
Source?
Unemployment benefits have been significantly expanded under the Coronavirus aid bill. The benefit amounts will sound small if you're living in an expensive city like SF or Seattle, but $600/week from the federal government and a similar amount from state unemployment insurance means that unemployment benefits can pay up to an equivalent of $50-60K/year right now. That goes a long way in most parts of the country, es…
That's assuming that 1) the said business will still be around after the lockdown (after 2-6 months without revenues), and 2) consumers will not have changed behavior, and I am concerned that people who spent several months watching the economy collapse, and wondering how long before they get laid off, will not start consuming like if there was no tomorrow when the lockdown ends.
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> It'll pay my mortgage, utilities, and keep me out of jail for driving without car insurance. That's about it. That's the point. It's not intended to replace your job. It's there to keep you afloat until you find your next job.
Isn't the point to be able to sustain someone until they can get another job? What's the point of giving someone enough money to pay their mortgage but not enough to eat, or enough to feed kids? There's more expenses to living than mortgage and utilities. Food, health care, home repairs, funerals, car repairs, etc.
Because the banks care if you don't pay your mortgage. They don't mind if your kids go hungry.