MESA or JB

[Smarta$$]

Where am I wrong in self funding health insurance other than your words? JetBlue gets premium prices from an insurer and then sets a subsidy. JetBlue has no clue how to cost out health care insurance or be an administrator in it, it's outsourced.

You can't compare health plans simply on premium prices. What are the network provisions? Out of pocket max costs? Deductibles? Lifetime maxes? HSA available at JetBlue? Medical flex accounts available? Prescription drug coverages? Premiums? What are the JetBlue provisions? Perhaps put them out here and someone can actually HELP you make a proper decision versus bitching about them which does you nothing other than hearing you bitch.

In general, you are better off paying out of pocket with an HSA (keep the money in the HSA until retirement because that's where the REAL COST is - post retirement medical).

I'm willing to bet I know more about health insurance than you Lake Alice.

I am becoming increasingly convinced that you are intentionally flame-baiting. You can't possibly be this stupid. Or maybe...

 

[Dizel8]

The fact that this is even up for question is saddening!

If the question was Mesa vs UAL, AA, DAL, ALK, certainly it would be run, not walk, but with jetblue, it isn't the case. Jetblue is a major carrier, making profits, growing, albeit slow, and yet, the question is asked!

Truly sad!

 

[CitationLover]

Wow, every time you say anything, you just make yourself look less intelligent. The "time value" of money is EXACTLY why we need a better 401K match NOW.

Care to make yourself look even more stupid?

You make yourself look more stupid in not understanding the point that an x% match takes away x% from your paid compensation today (ie without a 401k they would pay you more money). That's what a retirement plan is "deferred WAGES". You could take that money and do with it what you want (save for retirement, buy a boat, whatever). That's the point.

Retirement plans in a collectively bargained plans are bad for you. They're additional negotiating points and can easily be traded away. Especially nonvestable post retirement benefits like health care which active members will happily take away from retired ones who don't pay any dues. I'd rather them negotiate your pay and work rules and let YOU worry about your retirement. A 55yr old captain has a much different retirement "plan" in mind than a 30yr old FO, but somehow one plan will serve the needs of both (especially a 401k with a whopping 10 investment choices) versus an IRA where you could do anything except short calls and stock??

You call management idiots, yet you want them to put more money into your LARGEST ASSET and CONTROL WHERE YOU CAN PUT IT. That doesn't sound consistent to me. So what is it smartass?

 

[CitationLover]

I am becoming increasingly convinced that you are intentionally flame-baiting. You can't possibly be this stupid. Or maybe...

Stupid where? What did I say is wrong? Do you even know say what in network and out of network provisions are? Lifetime caps? What does HSA stand for?

 

[Smarta$$]

You make yourself look more stupid in not understanding the point that an x% match takes away x% from your paid compensation today (ie without a 401k they would pay you more money). That's what a retirement plan is "deferred WAGES". You could take that money and do with it what you want (save for retirement, buy a boat, whatever). That's the point.

Retirement plans in a collectively bargained plans are bad for you. They're additional negotiating points and can easily be traded away. Especially nonvestable post retirement benefits like health care which active members will happily take away from retired ones who don't pay any dues. I'd rather them negotiate your pay and work rules and let YOU worry about your retirement. A 55yr old captain has a much different retirement "plan" in mind than a 30yr old FO, but somehow one plan will serve the needs of both (especially a 401k with a whopping 10 investment choices) versus an IRA where you could do anything except short calls and stock??

You call management idiots, yet you want them to put more money into your LARGEST ASSET and CONTROL WHERE YOU CAN PUT IT. That doesn't sound consistent to me. So what is it smartass?

401K contributions are NOT deferred compensation. The match goes into MY account within days after payday (with exception of profit sharing). It is also a management talking point (or an absolutely cowardly position) that you can't have your 401K match increased without giving up pay or other benefits. It is simple, you INCREASE the total pilot compensation, just as SW has done, and many other major airlines. At a profitable and growing company, you do not have to simply accept total compensation that is in the bottom of your peer group.

Where do you work? What do you do? I can't understand what your argument is exactly, other than to say expect less from your profitable employer?

Your points about 401Ks being bad and you should be trading ETFs and other investments in an IRA is terrible advise. Have you given ONE second of thought to the fact the 80% or more of hard working Americans (including most pilots) lack the basic (and advanced) knowledge or skills to trade stocks and ETFs effectively? Do most people really have the time to do that? I thought we were supposed to be at work? Most people CANNOT effectively invest their money for greater returns than those provided by quality mutual funds.

What percentage of day-traders are more successful long term than market indexes? Your entire post about investing your money into an IRA and self managing it was bad advice for the vast majority of people, but even importantly, it was designed to exhibit your supposed superior investment knowledge and superior financial management skills. I am NOT impressed.

Not to mention, the tax implications of what you suggest are very damaging to a retirement account. I won't expend the effort or courtesy of giving you the financial advice that you desperately need. You can learn the hard way when your retirement is half of what it could have been.

 

[Smarta$$]

Stupid where? What did I say is wrong? Do you even know say what in network and out of network provisions are? Lifetime caps? What does HSA stand for?

Yes, I can define all of those terms. You are not NEARLY as smart as you think you are.

Why don't you enlighten us all and explain lifetime caps?

 

[CitationLover]

401K contributions are NOT deferred compensation. The match goes into MY account within days after payday (with exception of profit sharing). It is also a management talking point (or an absolutely cowardly position) that you can't have your 401K match increased without giving up pay or other benefits. It is simple, you INCREASE the total pilot compensation, just as SW has done, and many other major airlines. At a profitable and growing company, you do not have to simply accept total compensation that is in the bottom of your peer group.

ALL pensions plans (defined benefit and defined contribution plans) are a form of deferred compensation. Can you get that 401k money without incurring a penalty? NO. Not until 59.5. It is deferred compensation, because that benefit LOWERS your current compensation (ie they pay you less wages due to the benefits). I am not talking about your 15% you contribute and lowering your pay by 15%, I am talking about your total salary being lower because of the 401k, ie no 401k they have to pay you more otherwise people won't work there.

Where do you work? What do you do? I can't understand what your argument is exactly, other than to say expect less from your profitable employer?

Your points about 401Ks being bad and you should be trading ETFs and other investments in an IRA is terrible advise. Have you given ONE second of thought to the fact the 80% or more of hard working Americans (including most pilots) lack the basic (and advanced) knowledge or skills to trade stocks and ETFs effectively? Do most people really have the time to do that? I thought we were supposed to be at work? Most people CANNOT effectively invest their money for greater returns than those provided by quality mutual funds.

What percentage of day-traders are more successful long term than market indexes? Your entire post about investing your money into an IRA and self managing it was bad advice for the vast majority of people, but even importantly, it was designed to exhibit your supposed superior investment knowledge and superior financial management skills. I am NOT impressed.

Not to mention, the tax implications of what you suggest are very damaging to a retirement account. I won't expend the effort or courtesy of giving you the financial advice that you desperately need. You can learn the hard way when your retirement is half of what it could have been.

I work for a major employee benefits consulting firm (one of the big three) as a pension consultant. My wife also works there as one. I know what I'm talking about. I also know, unlike you, what companies like mine TELL your company as to HOW TO MANAGE their benefit plans.

I love your made up 80% number. Let me ask you this smartass, if 80% of Americans are too dumb to invest in an IRA, what makes you think they can invest a 401K (I guess the default is some money market cash account and they can count on that 0.25% annual return)? 401ks are here because corporations SHIFTED the investment risk from THEM to YOU (defined benefit plans are dying). You've been DUPED into thinking its "better" for you. And who is talking of day trading an IRA? Trade it like your 401k, buy a set of market indexed ETFs and rebalance quarterly. The IRA simply gives you the ability to change things at a moments notice versus waiting till market close for your 401k. Are pilots that stupid they can't figure out the stock market? Is that what you're saying?

Please expend to me tax advice pretty please? Buying an ETF is somehow a bad "tax" decision in an IRA (you know a TAX DEFERRED vehicle like a 401k)? Oh and also smartass an ETF is a major market index not some individual stock, its a lot like a mutual fund, except I can sell it whenever I want unlike a 401k mutual fund which settles after the markets close. It also is a simple $5 commission and not a 0.3% load built into a mutual fund (0.3% doesn't sound like a lot, but you get hit with it EVERY time you rebalance or move money in). I guarantee you for every "growth" mutual fund you can find a similar ETF (QQQ for example). In your prospectus they're required to show you they even show the stocks supporting the mutual fund.

As for not having time to manage your money and to "work", then who is the stupid one here? So your largest asset you simply chalk it off to let time pass by? I flew with plenty of people who were interested and discussed plenty of things market related.

You never answered why if management are idiots, do you trust your largest asset with their investment decisions (since they pick the funds you can invest in)?

 

[CitationLover]

Yes, I can define all of those terms. You are not NEARLY as smart as you think you are.

Why don't you enlighten us all and explain lifetime caps?

Sure. Its simply the maximum amount an insurance company will pay out in that policies lifetime. It's typically $1,000,000 in most group health insurance policies.

Note: Obamacare is eliminating these.

 

[Smarta$$]

Sure. Its simply the maximum amount an insurance company will pay out in that policies lifetime. It's typically $1,000,000 in most group health insurance policies.

Note: Obamacare is eliminating these.

This was my point. It is soon to be irrelevant, so why even mention it?

 

[CitationLover]

This was my point. It is soon to be irrelevant, so why even mention it?

Because a Republican congress is trying to repeal it every moment they get a chance. Have you seen a Republican Presidential debate?

EDIT: And don't think there won't be an unstated lifetime cap STILL if it doesn't get repealed. There's a reason premiums are rising drastically, this is one of the many reasons why (cap eliminations) Obamacare is a bad law. Aetna, et al will get its money from you one way or another.