Thursday, January 24, 2013

Some Consumer Information

Repost From: October 3, 2012
..from "The Consumerist.com"

"Brandon’s Epson color inkjet printer/scanner/fax machine is holding his document hostage. Its sole demand: a fresh light cyan ink cartridge... Inkjet printers are useful for relatively inexpensive home color and photo printing, but their main use is as cartridge sales devices." :-)
"The Dept. of Education has provided stats for people three years into their student loan repayments, and the numbers don’t paint a pretty picture. The percentage of college students defaulting on their loans is on the rise, with 9.1% of recent students defaulting within two years of their first payment coming due, and a whopping 13.5% defaulting within three years. And at controversial for-profit colleges, that number is alarmingly higher (22.7%)."
"Essentially you have insurance companies all offering the exact same product but being forced to compete on price to get subscribers. "
COMMENTARY
This is exactly what I bellyached about for years with the company I worked for. The company claimed they spent about $700 a month. I also paid close to $300 as well. Every time they said employees would have to take greater responsibility, it was code for larger deductions or some other hoop to jump through. Which would end up costing us more.

I always complained why not give us the $700 instead. Now that's taking real responsibility. It would allow us to do competitive shopping for healthcare insurance. It also would cut down their administration costs in human resources. The company I worked for had over 45,000 employees worldwide. Can you imagine how large those costs were as opposed to just cutting checks?

The only downside is, how this would play out with the IRS taxes at the end of the year? Sure folks can take deductions for medical insurance payments on Schedule A, but if you can't make the minimum requirements, this would be taxed as ordinary income. Other then that.. great idea! I'm all for it.

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