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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59110  
Subject: Canadian Health Insurance Date: 2/19/2007 6:30 PM
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I just got an e-mail from someone who immigrated to Canada under the 'Skilled Worker' program and then retired. There are some 100 job categories where Canada is looking for people.

http://www.cic.gc.ca/english/skilled/index.html

I was surprised that you don't have to actually accept and keep a job in order to remain in the country once you are admitted under the Skilled Worker program. Once you're in, you are covered by the Canadian National Health plan.

intercst
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Author: sofaking6 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2462 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 6:33 PM
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Let me know when Canada moves south.


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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2465 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 6:53 PM
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<<I was surprised that you don't have to actually accept and keep a job in order to remain in the country once you are admitted under the Skilled Worker program. Once you're in, you are covered by the Canadian National Health plan.

intercst
>>


That my be the solution to your desire for a single payer health care system, intercst. I'd bet you'd find that your health insurance premiums in Texas are a bargain compared to the much higher taxes you'd pay in Canada, though.



Seattle Pioneer

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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2466 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 7:08 PM
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SeattlePioneer writes,

That my be the solution to your desire for a single payer health care system, intercst. I'd bet you'd find that your health insurance premiums in Texas are a bargain compared to the much higher taxes you'd pay in Canada, though.


I doubt the additional taxes would usurp the 30% in overhead and profit that US private insurers add to my healthcare bill.

intercst

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2480 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 9:47 PM
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intercst: "I doubt the additional taxes would usurp the 30% in overhead and profit that US private insurers add to my healthcare bill."

At your age, you probably pay about $250/mo or less for $2500 deductible...and probably don't incur much in the way of annual expenses....

In Canada, you have fed tax rates...and you have provincial tax...

and a health GST (15%?) on everything you buy. Any import is expensive. Electronics are much more expensive (and they watch like a hawk to keep things from byassing customs coming into the country)....

Cars are more expensive....

"Someone" has to pay for all of it...usually it is the folks who conveniently die waiting for rationed health care...in order to keep costs down.

Of course, you can sign up for additional 'private plans' but heck, if you want cheap livign you can't afford that.....so you die waiting......

Why move there and pay 'private insurance' costs, plus all the other taxes?


http://en.wikipedia.org/wiki/Income_taxes_in_Canada

t.

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Author: Jim2B Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2482 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 10:12 PM
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I qualify as a skilled worker.

I rated myself pretty low on secondary language skills as I haven't used them in over 10 years. I also didn't get any points for adaptability or pre-arranged employment. Otherwise I scored a perfect score.

Jim

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2484 of 59110
Subject: Re: Canadian Health Insurance Date: 2/19/2007 11:01 PM
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Dang...I'd either have to learn some French, get married to someone who is Canadian or has family there, or have a 'firm job offer' to reach 67 points......

Too old.....

well, not planning on heading north of the border....not going to get drafted..... (even though I wouldn't have headed north back then....).....successfully and legally did not have to be drafted....the lottery gave me high number...356.....if it came to that many being needed, it would be better to be in the armed forces.....

I would have likely been typing up reports somewhere...to be filed away and forgotten for 50 years..then thrown out....

Who knows..might have recorded Bush's flight physical results or ateendance at trainng sessions..you never know.... .


t.



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Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2504 of 59110
Subject: Re: Canadian Health Insurance Date: 2/20/2007 6:37 AM
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Why move there and pay 'private insurance' costs, plus all the other taxes?
http://en.wikipedia.org/wiki/Income_taxes_in_Canada


Thanks for the link.

Did you notice that the top marginal rate in Canada is 29% for incomes over $120,000? That doesn't sound radically different than the rates here, does it?

At your age, you probably pay about $250/mo or less for $2500 deductible...and probably don't incur much in the way of annual expenses....

At my age, I pay $350 a month for $10,000 deductible, with a $2 million cap on all payouts over the life of the policy. Not very good, really, but with my asthma it was all I could find after being rejected repeatedly (and I found it only because I stumbled on an agent who threatened to sue the insurer.)

in Canada, you have fed tax rates...and you have provincial tax...

Well, I have Federal tax, and I have an almost 10% state sales tax, and a 6% income tax on interest and dividends - and I'm in one of the poorest states in the country. If Canada wasn't so cold, I'd be up there in a heartbeat.

Of course, you can sign up for additional 'private plans' but heck, if you want cheap livign you can't afford that.....so you die waiting......

Is there lots of evidence of people who "die waiting" or is this just your typical hyperbolic misinformation? You have a link?
 


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Author: GusSmed Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2508 of 59110
Subject: Re: Canadian Health Insurance Date: 2/20/2007 8:30 AM
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Did you notice that the top marginal rate in Canada is 29% for incomes over $120,000?

Wow, that's low. When I was thinking about moving to Vancouver in 2002, I thought the marginal rate was 40%. Clearly I was badly misinformed.

- Gus

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2525 of 59110
Subject: Re: Canadian Health Insurance Date: 2/20/2007 10:12 AM
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By the way, 'health care' in Canada isn't free..

http://www.taxtips.ca/ontax.htm

The gov't collects a 'health tax' each year...

Let us say you make $72,000 a year while living in Ontario...

You pay $750/yr in "Health Premium". BAsed upon how much you earn.

The combined provincial and fed tax rates are:

35-37K....24.5%
37-62K 31.15%
67-72 33%
75-120K 43%

Then add on about a 15% VAT tax on everything you buy, plus things like electronics have even more 'import duty'.....maybe 30%...?

Yes, they tax dividends and cap gains and have an alternate minimum tax if you are retired and have only 'investment income'.

No free lunch. "SOmeone" has to pay and that is the Canadian tax payer....


t.



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Author: MrCheeryO Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2529 of 59110
Subject: Re: Canadian Health Insurance Date: 2/20/2007 10:47 AM
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..."Someone" has to pay for all of it...usually it is the folks who conveniently die waiting for rationed health care...in order to keep costs down....

Lived in Vancouver for five years. Can anyone provide real statistics (not assertions) on the # of people in Canada who die waiting for rationed health care vs. the # of uninsured Americans who die waiting for rationed health-care, per year.

Also, would be greatly helpful if someone could tell 1. who pays for the uninsured when they do get treatment, in the US. I see the Medicare budget is UP 80% in seven years, and Medicaid about the same.

And, could someone provide an analysis of why Bush's own, personal, in-depth examination of the Tax Code went so disastrously wrong?

I. I. I. No "I" in Team, Mr. Bush.:) But, at least we know exactly who to blame. You. You. You. (and of course supporters and their wartime s.179 SUV subsidies.)

....Another picture would be full of blessings: a balanced budget, big surpluses, a military that is second to none

...This plan is just right. (Applause.) I didn't throw darts at the board to come up with a number for tax relief. I didn't take a poll or develop an arbitrary formula that might sound good. I looked at problems in the Tax Code and calculated the cost to fix them....

http://www.whitehouse.gov/news/releases/2001/02/20010228.html


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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2549 of 59110
Subject: Re: Canadian Health Insurance Date: 2/20/2007 11:45 AM
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<<The gov't collects a 'health tax' each year...

Let us say you make $72,000 a year while living in Ontario...

You pay $750/yr in "Health Premium". BAsed upon how much you earn.

The combined provincial and fed tax rates are:

35-37K....24.5%
37-62K 31.15%
67-72 33%
75-120K 43%

Then add on about a 15% VAT tax on everything you buy, plus things like electronics have even more 'import duty'.....maybe 30%...?

Yes, they tax dividends and cap gains and have an alternate minimum tax if you are retired and have only 'investment income'.

No free lunch. "SOmeone" has to pay and that is the Canadian tax payer....


t.

>>


intercst has no stated plans to move to Canada to take advantage of the single payer health care he favors.

I'm not sure if he's deterred more by the high taxes or the typically cold Canadian weather, but he remains in Texas with it's low taxes (especially for renters) and warm temperatures.



Seattle Pioneer

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Author: XCgeoff Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2642 of 59110
Subject: Re: Canadian Health Insurance Date: 2/21/2007 2:41 PM
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So how would taxes work for a "retired" US citizen with assets here in IRA's, 401k's, etc that moves to Canada. Suppose I were nearing FI and I could soon afford to retire, but I wanted to move to Canada to take advantage of the government provided healthcare. I'm a skilled worker in the oil industry so I assume I could get a job there and then retire a year or two later. All of my investments are in US based institutions. If I start withdrawing money to live on, do I pay US taxes, Canadian taxes, both? Do rules governing mandatory withdrawals still apply if I live in Canada, but still am a US citizen?

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Author: MrCheeryO Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2644 of 59110
Subject: Re: Canadian Health Insurance Date: 2/21/2007 3:11 PM
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Who is Eligible?

An individual must be a resident of B.C. in order to qualify for medical coverage under MSP. A resident is a person who meets all of the following conditions:

must be a citizen of Canada or be lawfully admitted to Canada for permanent residence;
http://www.healthservices.gov.bc.ca/msp/infoben/eligible.html#who

Not easy becoming a permanent resident if you are just planning to retire up there. Family reunification aside, the Canadian government actually does a fairly good job of controlling its borders and who they let in. You have to be fairly careful when people become eligible for all these goodies, if and when they get permanent residence.

US-Canada has a tax treaty so most of that all makes sense.

Key is to get permanent resident status, not easy.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2649 of 59110
Subject: Re: Canadian Health Insurance Date: 2/21/2007 3:44 PM
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"So how would taxes work for a "retired" US citizen with assets here in IRA's, 401k's, etc that moves to Canada."

Good question.....

" Suppose I were nearing FI and I could soon afford to retire, but I wanted to move to Canada to take advantage of the government provided healthcare. "

Nice thought, but first you have to 'qualify' for admission to Canada as someone seeking legal residency. Those over 60, unless they are maried to Canadian, or have Canadian parents, or can show a large 'community' that they are affliliated with in Canada, likely would not get permission to move their for 'residency'.

"I'm a skilled worker in the oil industry so I assume I could get a job there and then retire a year or two later."

Perhaps, but they might simply issue you some sort of work Visa if you did not qualify in other ways. Especially if you only plan to work a year or two (that would be obvious to them).

"All of my investments are in US based institutions. If I start withdrawing money to live on, do I pay US taxes, Canadian taxes, both? Do rules governing mandatory withdrawals still apply if I live in Canada, but still am a US citizen? "

If your investments generate income, or have capital gains, as a USA Citizen, you will pay taxes. Naturally, if you move to Canada and become a resident, the USA might frown upon you trying to collect SS as well, and signing up for Medicare and Medicaid at 65.

ANything 'tax deferred' will be taxed by the USA gov't when you withdraw it, or 'transfer it' out of the country. As income as you take it, and yes, you have the mandatory withdrawal.

Likely, you might be subject to a 'one time' payment into the healthcare system if you really intend to become a legal Canadian resident.

I'm not sure what the deal is for 'residents' as opposed to 'citizens' of Canada. You might have to check in to that if you are interested. You many not qualify for much of the healthcare, especially if you are covered by USA Medicare. or will be.

t.




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