But....doesn't....Ryan's plan call for us to have the same kind of SS and Medical insurance plans that Congress has?
What's the difference between their plan, and an IRA or a 401(K)?
There are a few differences, but they are minor. As a gub-mint employee, I have the much over-hyped GEHA health plan. It really isn't as spectacular as you would think.
-a little better than 300 a month for the family plan, which includes a basic vision package.
-a $700 yearly family deductible before the ins kicks in.
-typical $5, $10, $25 meds.
-a fairly low deductible for hospital visits.
What congress has, that I don't.
-for about 500 extra a year the elected congress critter can have The Office of the Attending Physician as their primary care. This only applies to the congress critter, not their families.
-deductibles are waived if the congress critter or their family uses a government owned DC hospital facility.
-all waiting periods for benefits to take affect are waived.
There is one other benefit - though minor. I have the choice of about a dozen other smaller insurance programs, through other companies, state specific, union specific, etc etc. - I call this a minor benefit because most of these programs are either overpriced, or cover relatively little. But they are available.
In a way, its a negative. Once a year at open season, I get a phonebook-sized publication with tons of information I neither want nor need to weed through.
Thrift Savings Plan Vs 401(k)
Its pretty much the same, I get a maximum of 5% of my paycheck matched if I contribute 5% or more -so, for every 5% I sock away, Ill get 10% in the end. The only real difference, is gubmint employees get 1% if they choose to contribute or not.
Of course, I maxed mine out. Stupid not to.
Although not mentioned, I also maxed out my FEGLI (life insurance) options so that it covers me, the missus and the kids. This is actually pretty cheap, something like $13 a week, though that figure may be wrong. Regardless, its affordable, and stupid not to take advantage of.
Dental insurance is terrible - So bad that we use the missus, as its miles better in terms of cost and coverage.
So to recap -
Affordable health insurance. Not free by any stretch. includes basic eye care. Lots of smaller plans from other providers.
Program similar to a 401(k) only benefit is 1% paid in by government regardless of participation.
Cheap life insurance.
Terrible dental.
Congress critters can pay about 500 extra a year to make The Office Of The Attending Physician their primary care
Congress critters can get copays waived at federal hospitals in DC
ONLY.No waiting period for benefits for congress critters.
Notice how nothing in it is "free" or insanely cheap like 5 bucks a month. That is a myth, and that myth is frequently used by Democrats to create class envy, even though they all know better.(I suspect the no copay at Government DC facilities is the primary culprit for that myth, but remember, the congress critter still pays every month)
