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Elementary Question- What Was the Purpose of Mandated "Essential Health Benefits"?
- Thread starter wehotex
- Start date
- 8,448
I'll spell it out for him Josh.
B a c k w o o d s...H i l l b i l l i e s.
Teachers aren't reading their benefits, but we are expecting employees making minimum wage 40 hours a week (which is better than them being on welfare) to understand this stuff when they employer offers them crap benefits.
That is ridiculous.
- 29,467
The sad thing is, they probably come out ahead by being on welfare than working a minimum wage job. Lots of leaches on society know this and take advantage of it. One of the many things that are wrong with our "entitlement" system. No incentive to get a job. Why work when they can live better on welfare?
- 4,132
Just have say 401k were not introduced because employee wanted them to replace their pension plans. 401k originally were to supplement defined benefit plans as a way for employees to set aside monies for retirement to go with their pension that was provided by the employer.
The risk in the defined benefit plans were on the employer to reach a stated amount of income to retired employees (example 80% of last five years pay). The employee didn't have to worry how their employer got there, cause it didn't matter. 401ks use began to alter pension plans for employees and were a relief to employers rather than employees as the burden of risk now became the employees.
The vast majority of people are struggling with their retirements because they bear the risk of outcome. An employer used to hire a professional to manage the portfolio to ensure the needs were met. An individual doesn't have that kind of money to pay for quality asset management. While there has been a benefit to agents who obtained their securities licenses with the emergence of 401ks, the general public has not benefited from managing their own risk.
When you check balances of retirement plans on average in this country, most would provide a year or two before exhausting themselves.
And I am sure some here think that is just fine. Everybody should get what they get. I don't share that opinion. As America has moved away from defined benefit things have gotten worse not better.
And just wait for the Medicare vouchers next....
The risk in the defined benefit plans were on the employer to reach a stated amount of income to retired employees (example 80% of last five years pay). The employee didn't have to worry how their employer got there, cause it didn't matter. 401ks use began to alter pension plans for employees and were a relief to employers rather than employees as the burden of risk now became the employees.
The vast majority of people are struggling with their retirements because they bear the risk of outcome. An employer used to hire a professional to manage the portfolio to ensure the needs were met. An individual doesn't have that kind of money to pay for quality asset management. While there has been a benefit to agents who obtained their securities licenses with the emergence of 401ks, the general public has not benefited from managing their own risk.
When you check balances of retirement plans on average in this country, most would provide a year or two before exhausting themselves.
And I am sure some here think that is just fine. Everybody should get what they get. I don't share that opinion. As America has moved away from defined benefit things have gotten worse not better.
And just wait for the Medicare vouchers next....
The sad thing is, they probably come out ahead by being on welfare than working a minimum wage job. Lots of leaches on society know this and take advantage of it. One of the many things that are wrong with our "entitlement" system. No incentive to get a job. Why work when they can live better on welfare?
While I agree, that's a different conversation
But you can always work at my "favorite" retailer...where they are happy to teach you how to apply for gov't assistance while working there, after they explain how you really don't want the extra hours. You'll make more money if you work 25 and take advantage of the system.
- 29,467
Haha, that way they're only taking half as much advantage of the system.
I'll bet they end up spending half their paychecks and benefits at your "favorite" retailer.
I KNEW there must be a reason they opened up their own bank in their stores. I'm pretty sure payday loans are available, too.
- 29,467
They don't actually own Woodforest National Bank, but they are Walmart's largest retail partner. The 2nd chance bank.
Walmarts's turned into a regular Company Store. I wonder if that's how Sam envisioned it?
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