5 ms·

We have mandatory unemployment insurance which pays pretty well. These are well-paid white collar professionals, they should be saving up emergency funds. I'

We have mandatory unemployment insurance which pays pretty well. These are well-paid white collar professionals, they should be saving up emergency funds. I'm more worried about the safety net for low- and mid-income workers, as well as the fact that health insurance is tied to your employment.

ianlevesque 12y ago
Yes, the health insurance one is the big issue in the US. Even with emergency funds after the COBRA period ends you simply cannot buy the same health plan individually, no matter what you were willing to pay. Many people are surprised by this.
- 3am 12y ago
  Yes, and pre-ACA, if were diagnosed with anything during a coverage gap, it would fall into the dreaded "pre-existing condition" category.
- joesmo 12y ago
  Post-ACA there are plenty of good plans to purchase beyond COBRA so this is now really only an issue of affordability. They are rather expensive, especially for one who doesn't have a job and getting on Medicaid Expansion can take many months, if one is even eligible (which one is likely not to be if he's worked at all that year). Likewise, other ACA discount will not apply if one has made any decent amount of money that calendar year, I believe.
NateDad 12y ago
Uh, have you been on unemployment? There's a max. In Massachusetts it's $698 / week (with no taxes taken out). That would only barely cover my mortgage, let alone car payment, food, health insurance, etc. And yes, people should have emergency funds... but when you were a few years out of college, did you have 3-6 months of salary saved up? I certainly didn't.
- mod 12y ago
  I don't think the "social safety net" was intended to keep wealthy people wealthy. It's to ensure basic needs are met. If you want to remain wealthy, you should probably not count on unemployment to play a role in that.
  - angersock 12y ago
    I think your definition of wealthy needs some serious, serious readjustment.
    - Yakimoto 12y ago
      Maybe you should consider adjusting your understanding of poor too.
  - showsover 12y ago
    And in Belgium, you are wrong about that. If you take home 1500€ net each month, and lose your job, social security first gives you around the same 1450 - 1500. After a few months (I think 3 or so) it goes down to 1300 or so, until you get a maximum of X where X is around the minimum living wage. This is to ensure that people don't have to sell or move immediately after being fired. Which makes sense.
    - markcampbell 12y ago
      This example is flawed. What is the max take home pay of someone on unemployment benefits in Belgium? In Canada under EI (employment insurance) it's about $500 per week (~$2000 CAD per month).
- cylinder 12y ago
  ...why should the taxpayers cover your mortgage? I don't think "debt service on assets" is a universal human right. And why would someone have a mortgage just out of college if they can't even save 3 months first? Either way, $698/week is a lot. Do you know how much these European countries and Canada pay under their "safety net?" It's probably closer to $1500 per month. They certainly don't give a shit about anyone covering their mortgage. Basic shelter and food, that's it.

ianlevesque 12y ago

Yes, the health insurance one is the big issue in the US. Even with emergency funds after the COBRA period ends you simply cannot buy the same health plan individually, no matter what you were willing to pay. Many people are surprised by this.

3am 12y ago
Yes, and pre-ACA, if were diagnosed with anything during a coverage gap, it would fall into the dreaded "pre-existing condition" category.
joesmo 12y ago
Post-ACA there are plenty of good plans to purchase beyond COBRA so this is now really only an issue of affordability. They are rather expensive, especially for one who doesn't have a job and getting on Medicaid Expansion can take many months, if one is even eligible (which one is likely not to be if he's worked at all that year). Likewise, other ACA discount will not apply if one has made any decent amount of money that calendar year, I believe.

NateDad 12y ago

Uh, have you been on unemployment? There's a max. In Massachusetts it's $698 / week (with no taxes taken out). That would only barely cover my mortgage, let alone car payment, food, health insurance, etc. And yes, people should have emergency funds... but when you were a few years out of college, did you have 3-6 months of salary saved up? I certainly didn't.

mod 12y ago
I don't think the "social safety net" was intended to keep wealthy people wealthy. It's to ensure basic needs are met. If you want to remain wealthy, you should probably not count on unemployment to play a role in that.
- angersock 12y ago
  I think your definition of wealthy needs some serious, serious readjustment.
  - Yakimoto 12y ago
    Maybe you should consider adjusting your understanding of poor too.
- showsover 12y ago
  And in Belgium, you are wrong about that. If you take home 1500€ net each month, and lose your job, social security first gives you around the same 1450 - 1500. After a few months (I think 3 or so) it goes down to 1300 or so, until you get a maximum of X where X is around the minimum living wage. This is to ensure that people don't have to sell or move immediately after being fired. Which makes sense.
  - markcampbell 12y ago
    This example is flawed. What is the max take home pay of someone on unemployment benefits in Belgium? In Canada under EI (employment insurance) it's about $500 per week (~$2000 CAD per month).
cylinder 12y ago
...why should the taxpayers cover your mortgage? I don't think "debt service on assets" is a universal human right. And why would someone have a mortgage just out of college if they can't even save 3 months first? Either way, $698/week is a lot. Do you know how much these European countries and Canada pay under their "safety net?" It's probably closer to $1500 per month. They certainly don't give a shit about anyone covering their mortgage. Basic shelter and food, that's it.