Last year I saw a great series about cancer. I know that this does not have anything to do with income tax but it does have a lot to do with personal finance. One study said that more than a fifth of personal bankruptcies are caused by medical bills, even for people who have medical insurance. Cancer and heart disease seem to be the most expensive. In this series Ty Bollinger visits and interviews many of the doctors who are at the front of the effective research studies. He shows that some of the most expensive treatments are among the least effective. If you are never diagnosed with cancer there is a strong chance that a close family member will, so it is a good idea to find out all about it now.
He is broadcasting this series again beginning on the 12th of April. To get the times and details, click on https://go.thetruthaboutcancer.com/?ref=11cafd02-c5e7-4fb2-870b-4f1ebc391938
The IRS reports that tax filings are running at or slightly above their usual level for this part of year. (This is being written in mid-February.) This is amazing because the Obamacare complications add a lot of little kinks to the calculations. As I pointed out in a previous post the theory that adding millions of people to the insured category could somehow decrease costs is ridiculous. To increase revenues it was necessary to add about a dozen little tax hikes.
Perhaps the worst tax of all is that many companies are limiting hiring to keep the number of employees down below the cutoff point where they have to provide health insurance. Millions of people are working part-time because their employers want to make sure that they do not get involved. For some reason that is not clear to me there is a cutoff which defines full-time work as 30 hours a week instead of the traditional 40. This has led to millions of people working a maximum of 29 hours in a week.
In general US filers who live outside the US are not required to have medical insurance. Those who are eligible for government insurance in Canada pay about $650 a year unless they live in Ontario, in which case medical insurance is paid by a tax on employers. The same applies in one of the maritime provinces, I can’t remember which one. Where it is free like this about 105% of the population are covered, which obviously includes people who do not live in the province.
Those who have government insurance in Mexico pay about $200 a year unless they are over 60, in which case it is double that figure.