Mid-Term Exam

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Mid-Term Exam

Post by Poppop »

Answer the following 2 part question and use the margins to show your calculations used to arrive at your answer.

Grandma and Grandpa are given an increase of .3% in the Social Security monthly payment. The increase amounts to $7.04 total.

Grandma's and Grandpa's Medicare Advantage Health Care premium is increased from $59.50/month each to $75.00/month each.

1) At the end of the month, how much are Grandma and Grandpa in the hole?

2) Using your answer from question #1, not considering any increase in property tax, food or other necessities, how long would it take Grandma and Grandpa to get to the Poorhouse? :x :x
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Re: Mid-Term Exam

Post by akuser47 »

Technically 75 dollars lost each month because medicare doesn't seem to cover much at all at least not for my mother.
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Re: Mid-Term Exam

Post by Old Scribe »

They are each loosing $75 a month for a total of $150. The .3% increase in SS doesn't mean squat since the government takes the increase back in taxes.
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Re: Mid-Term Exam

Post by buckeye43210 »

Grandma and Grandpa might want to consider moving somewhere like Guatemala where they still have rights and can live comfortably in a guarded, gated community somewhere off the Gringo tourist trail on their $2353.71 a month SS check.

For example, they could hire a full-time (24/7), live-in nurses aide for $500 a month. That nurses aide would also do the cooking, cleaning and shopping.

Guatemala has a decent retired residency program. Check it out...
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Re: Mid-Term Exam

Post by GasGuzzler »

My health insurance is about to increase 41%.

It's already more than my mortgage.
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Re: Mid-Term Exam

Post by Poppop »

buckeye43210 wrote:Grandma and Grandpa might want to consider moving somewhere like Guatemala where they still have rights and can live comfortably in a guarded, gated community somewhere off the Gringo tourist trail on their $2353.71 a month SS check.

For example, they could hire a full-time (24/7), live-in nurses aide for $500 a month. That nurses aide would also do the cooking, cleaning and shopping.

Guatemala has a decent retired residency program. Check it out...
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Re: Mid-Term Exam

Post by Poppop »

GasGuzzler wrote:My health insurance is about to increase 41%.

It's already more than my mortgage.
That's just premium increase, has there been an increase in your deductible too?
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Re: Mid-Term Exam

Post by GasGuzzler »

About 2% hike in deductible, 41% in premium. My deductibles are sky high to get the premium down. Through work my premium would be double what I pay myself but deductible 1/4. We don't go to the doctor so that makes no sense especially since the deduct is still really high. I have four kids so it pretty much sucks throwing away more than 10% of my gross income to health insurance premiums.
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Re: Mid-Term Exam

Post by Fyodor »

Just for my overseas understanding: Is the 75$/month a realistic number in the US?
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Re: Mid-Term Exam

Post by daboone »

The underlying stupidity of this whole SS system is I was forced to paid into this fund. Now the government taxes and regulates how and how much and when I get some of it back. If I'd been allow to invest the same amount I'd be MUCH better off and this system wouldn't be costing all tax payers to subsidize it. In the mean time thank you all for partially supporting this old ornery grump.
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