Nebraska was the 37th State to join the Union, is home to the “Cornhuskers,” and currently has a $3.5 billion budget and a $563 million cash reserve.
In this time of economic hardship, the Cornhusker state has no debt, shunning all long-term financial commitments including retirement benefits.
A recent USA Today survey of state financial reports found that the other 49 states combined “have an unfunded obligation of $445 billion” owed for the medical care of retired government workers.
The formula accountants use to compute the financial health of a state government includes medical benefits, debt and pension liability. Medical benefits represent the Pandora’s Box of the three, with civil servants often retiring before Medicare benefits kick in at 65.
In contrast, Nebraska is the “only state that doesn't subsidize the medical care of retired government employees.”
Other states and local governments have debts that range anywhere from New York City’s $60 billion obligation to Los Angeles’ $544 million sum.
Some state and local governments have begun setting aside money to prepare to pay retiree medical costs. Some plan to pay nearly the entire cost, other will contribute a fixed amount, such as “$200 a month or 50% of the health insurance premium.”
In defending Nebraska’s nonexistent retiree health care coverage, Senator Dave Pankonin distills his state’s approach simply: “Nebraska is a fiscally conservative, pay-as-you-go state, and that’s the biggest reason we don’t have this benefit.” Or, he might have added, deficit.
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$445 is a good budget if it would be spread all over the health institutes in a better way - www.caringforcopd.com
What is this comparison all
What is this comparison all about? I don't think that there is any point of making comparison between these two native countries on any basis.
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This could be the health
This could be the health benefits that are going to be posted towards the people of nation by the government. The future of health care services is bright and is quite promising as well.
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Other states and local
Other states and local governments have debts that range anywhere from New York City’s $60 billion obligation to Los Angeles’ $544 million sum. text spy
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Having a health insurance is important to average people. We don't know when we will get sick and hospitalization bills are very high. If this is the case in which the health insurance is not covered by the state, you can get your own and pay it religiously monthly, quarterly or yearly. T Harv Ecker
It is the most amazing
It is the most amazing article ever read on this earth. Guess what!!! Today for the first time I read your article and in one shot I liked your article and the way you write
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Re:Nation Has $445 Billion in Unfunded Health Care Benefits, Neb
Nice to see you here - thanks for commenting. We all need reminding to switch off and take care of ourselves. In writing, I'm reminding myself too. Last night I made a point of practising 10 minutes pranayama before going to sleep (I usually practice earlier in the day) and I could feel the calming effect instantly.
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money as most people think. Nebraska has a small population. They also have several large Indian Reservations. The Native Americans who live there are covered under Indian Health Services so they are not going to be part of this deal. That leaves the poor out of this small population that it will cover plus I understand that it will only cover those who get new coverage under this bill. Not a very large number of people. In my estimation he could have asked for more.
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NE: Fiscally Responsible
I just moved to Nebraska from California and couldn't help taking a jab at my old home state when I had Lt. Governor Rick Sheehy at the ribbon cutting for my new office. (Video on YouTube: http://www.youtube.com/watch?v=vytHzhp-H5w). It is great to be in a state that understands how to manage a cash reserve. Governor Dave Heineman is working on plans now to dip into that reserve over the next 2 to 3 years to help the state weather the current economic turbulence. (You can read the Governor's column on the subject at http://www.governor.nebraska.gov/columns/2009/01_09/011909.html).
We don't have the ocean and we do have winter, but I'll take it over the melodrama of on-going financial crises any day!
interesting article
Interesting article.
I expect many state governments and local governments to become more "fiscally conservative". Other state governments and local governments should seriously consider not subsidizing "the medical care of retired government employees." If voters do NOT want their property taxes and income taxes to soar, they need to think about this.
Representatives to the United States House of Representatives and United States Senators should NOT receive pensions.
Congress should allow people to buy into Medicare or a health insurance plan similar to what members of Congress have. Monthly premiums could be based on monthly incomes.
Individuals should NOT be required to have health insurance if they are at least 18 years old. Businesses should NOT be required to offer health insurance to their employees.
I discuss health insurance in greater detail after
"DASCHLE AND STATE-BY-STATE-HEALTHCARE MISTAKES" by Georganne Chapin
http://www.newgeography.com/content/00506-daschle-and-state-state-health...
Voters should think about the following
"STATE BUDGET WOES" by Matthew Leiphon
http://www.newgeography.com/content/00497-state-budget-woes
"CURRENT POLICY OVERLOOKS THE NEW HOMELESS" by Ilie Mitaru
http://www.newgeography.com/content/00507-current-policy-overlooks-new-h...
I posted comments after them.
Many current government employees and former government employees may have a lot to lose if the economy does not grow faster.
The faster our economy grows the more sales taxes and income taxes that state governments may obtain. The faster our economy grows the more businesses that may be paying state corporate taxes and local property taxes. My plan dealing with the economy may increase economic growth over time http://www.newgeography.com/users/kenstremsky
Sincerely,
Ken Stremsky