I figured we could discuss the different types of government aid we are receiving or plan to receive now that we are laid off for the good of each other. As for me, I'm collecting unemployment benefits, of course. My family may also qualify for pregnancy and childcare Medicaid.
How do you all plan to live off the government?
@4uwv, if you are out of work and cannot find a job because of your age, lack of skill, etc., then get whatever government help you can. You may not be able to qualify for anything after your unemployment benefits and Cobra medical are exhausted. Have you tried to claim SNAP food stamps? Any other programs? It's true the government is there to lend a helping hand, if you are poor. It's also true you are mostly responsible for your own lot in life. Did you save enough and invest in property while you were working? Where you more dependent on yourself or the government all your life? I'm retired after being laid off. I did well enough, but I sure wish I had my job for another 4 years. Things would have been much better for me. But things are as they are. Now I've got to find work for another 4 or 5 years at 59 years of age. I depend on myself.
I see it as a contractual relationship in which you are required to pay your taxes and the government is required to give a portion of those taxes back to you in a case you lose job.
There are well defined safeguards to ensure that no abuse takes place. So, given that you fulfilled your part of the contract, why would you be hesitant to expect the government to do the same? I really do not see it as a handout whatsoever.
Chevron is my second job. Relaxing at home and planning my fishing trips is Job#1.
I'm selling dope in my spare time. Business is great.
@2svn, it's always depends on your point of view and value system. You see it your way and others look upon their career with Chevron as a privilege and rewarding experience. In my opinion, I see it as a rewarding experience. As for government handouts, I personally don't need them.
I love how many people here have paid an enormous amount of taxes but balk at receiving "handouts" from the government. You also praise the same company selectively retiring older individuals who are more qualified and will have trouble finding replacement positions. It reminds me of slaves defending slave owners.
Interesting topic and some good feedback from commenters. I was laid off about 9 months ago and went through my unemployment benefits. I will be living off small distributions from my 401k until I reach 60 years of age. By that time, my pension will no longer be reduced by the Early Retirement Factor. While waiting another 2 years for that, interest rates will rise and therefore increase the annuity amount I will collect later. I would like to know if anyone is aware of any government assistance I can take advantage of, now or later. I will be starting Obamacare in Jan 2016. The premium for me at an annual income of $27,500 is very inexpensive in Houston, TX.
I think most would qualify for Medicaid if you have children and/or live in a state that accepted expanded coverage. The Affordable Care Act eliminated the asset test, so there is only an income test now. Unemployment insurance should fall below that test for most families. I'm in texas, so only pregnant mothers and children pass the income test for ~200% of the Federal Poverty line (Which UI would be less than). Even if you have Cobra, I think you can have certain types of Medicaid as supplemental insurance. With the HDHP being Chevron's most cost efficient for young people, Medicaid makes a nice supplemental insurance for covering hospitalization, doctor visits, etc.
I also might pull off a Roth conversion to get my income right to where I can contribute to an HSA, Contribute to a traditional IRA, and go for the EITC if I don't happen to get a job next year (or if I don't feel like it). Of course, I might not go for the Roth conversion if the stock market didn't take a nice little tumble.
One nice trick that I didn't go for would have been to wait to get my severance to lower my tax bill for 2015-exploiting the 60 day waiting period for the release form.
I'm actively looking for a job. I just like to get my taxes right while I do. Finding part time work is out of the question as I don't want to lose my UI.
Take advantage of unemployment, that's what it's there for. It's an insurance that you & your employer (depends on your location) paid for this very purpose.
I would not be to proud to collect "welfare" in all it's forms (snap, afdc/tanf, ss, disability, food banks, etc). Yeah, most Chevron people are paid quite well, but if in your situation you are qualified, why not accept it. It's there to help people get back on their feet. We live in a great country where as a matter of principle we not want our people to die of hunger in the streets. Makes for bad policy, potentially cause riots and revolutions. However, in practice, there are people that take advantage for too long, and then people are still hungry in the streets, though in both cases it's not as "high" in quantity as people make it out to be.
So keep your head high, sign up for obamacare if it is a better economic choice for your family, take advantage of unemployment benefits like work placement & training, get tax writeoffs on your job hunting expenses (resume paper, interview clothes, travel), volunteer at foodbanks and accept some of their fine cooking.
For the soon to be ROM'ed GOM employees which will be be 1050-1200 (rules keep changing) our new Govonor-Elect, John-Bel Edwards is fighting the Jendal admin. rule that if you are 18-49, single, no dependents, able bodied and unemployed you still should get your food stamps. It comes out to $194/ person and you can get cash back!! Louisiana SNAP cards also work in certain locations in Atlanta and Houston!! :) :) :)
I don't need to live off the government. I am retired after getting laid off recently. I plan to use up all my unemployment benefits first and later on I may seek part-time work. As for medical insurance, once my Chevron subsidized COBRA medical coverage expires, I'll have to go to Obamacare as I'm 6 years away from age 65. Once I become 65, I will look into Chevron Retiree Medical. I remind the readers that Obamacare is not Welfare. I cannot qualify for welfare, nor would I feel very good about myself for taking any handouts. I am thankful for the many years I worked for Chevron.
For me and my wife, we enrolled in the Healthcare Marketplace for 2016. I was laid off from Chevron earlier this year. Our subsidized Cobra medical premiums ended on Nov 30. I used up all 6 months of unemployment benefits, as planned. I never had any intentions to find work. I'm officially retired and don't have to work again. Our Obamacare insurance premium is only $58.42 per month, an unbeatable rate for a plan that actually costs $1,090 per month before the subsidy.