Economy 53,075 Posted April 24, 2019 Share Posted April 24, 2019 https://www.bnnbloomberg.ca/ford-government-considers-cutting-ohip-travel-coverage-cites-high-admin-costs-1.1248903 Doug Ford wants the Province of Ontario to end health coverage for when Ontarians take vacation abroad in a bid to reduce the budget deficit He hopes private insurance will be purchased more often Link to post Share on other sites More sharing options...
Born To Slay 10,996 Posted April 24, 2019 Share Posted April 24, 2019 Is there a projection on how much that would lower the deficit? Cause honestly, that sounds like it won’t make much of a differences. Link to post Share on other sites More sharing options...
gumzy3000 7,951 Posted April 24, 2019 Share Posted April 24, 2019 I didn’t even know this was a thing? 10 years ago my mom got sick at an airport in Europe and when she saw the doctor, they told OHIP won’t cover their fees. Thankfully it wasn’t anything major but what exactly is this supposed to cover? trolly troll troll Link to post Share on other sites More sharing options...
LaLa 19,898 Posted April 24, 2019 Share Posted April 24, 2019 Wait, OHIP covers me abroad?!? I’ve always bought travel insurance. Although I guess I don’t when I just go over to the States for the day or something. Guess I’ll have to look into this 🤔 Link to post Share on other sites More sharing options...
Economy 53,075 Posted April 24, 2019 Author Share Posted April 24, 2019 24 minutes ago, Born To Slay said: Is there a projection on how much that would lower the deficit? Cause honestly, that sounds like it won’t make much of a differences. 21 minutes ago, gumzy3000 said: I didn’t even know this was a thing? 10 years ago my mom got sick at an airport in Europe and when she saw the doctor, they told OHIP won’t cover their fees. Thankfully it wasn’t anything major but what exactly is this supposed to cover? 18 minutes ago, LaLa said: Wait, OHIP covers me abroad?!? I’ve always bought travel insurance. Although I guess I don’t when I just go over to the States for the day or something. Guess I’ll have to look into this 🤔 It doesn't cover a lot of stuff hence why ppl still buy private coverage if they can afford it And to answer @BornToSlay @Born To Slay (it won't delete the first born to slay I accidentally tagged ughhh) Anyway it won't lower the deficit by much... He's looking for anything and everything that he can save a few bucks on Ontario is in terrible financial condition. We've ran bigger deficits than the Federal government before and were also the most indebted Sub-Sovereign Jurisdiction in the world It's funny cuz Canada seems to be in such amazing financial shape when u look at our debt to GDP ratio of 31% Federally (few developed nations are under 80%) But then we have huge Provincial Government as well as consumer and private sector debt Were actually a very leveraged Nation hence why despite very low federal debt one of the ranking agencies recently threatned to take away our Triple AAA rating if we don't get it together soon Link to post Share on other sites More sharing options...
Born To Slay 10,996 Posted April 24, 2019 Share Posted April 24, 2019 1 hour ago, Economy said: It doesn't cover a lot of stuff hence why ppl still buy private coverage if they can afford it And to answer @BornToSlay @Born To Slay (it won't delete the first born to slay I accidentally tagged ughhh) Anyway it won't lower the deficit by much... He's looking for anything and everything that he can save a few bucks on Ontario is in terrible financial condition. We've ran bigger deficits than the Federal government before and were also the most indebted Sub-Sovereign Jurisdiction in the world It's funny cuz Canada seems to be in such amazing financial shape when u look at our debt to GDP ratio of 31% Federally (few developed nations are under 80%) But then we have huge Provincial Government as well as consumer and private sector debt Were actually a very leveraged Nation hence why despite very low federal debt one of the ranking agencies recently threatned to take away our Triple AAA rating if we don't get it together soon So it seems you guys have the opposite problem that we have in America. Is this evidence your health care system itself has a problem or are there other issues that led to debt for the provinces? Link to post Share on other sites More sharing options...
Economy 53,075 Posted April 24, 2019 Author Share Posted April 24, 2019 11 minutes ago, Born To Slay said: So it seems you guys have the opposite problem that we have in America. Is this evidence your health care system itself has a problem or are there other issues that led to debt for the provinces? Yeah opposite issue. I know in America most debt is Federal while most States are in decent shape And in not sure what the issue is. It could be that when the Federal Government cut spending a lot in the mid 90s and ran budget surpluses to pay down debt provinces increased spending to compensate If u look at Corporate and income taxes in Canada vs US u see an interesting thing. Canada's Federal taxes are lower than the US both Corporate and income tax but Canada's Provinces have higher taxes than US States Canada Corporate: 15% USA: 21% Canada top income bracket: 33% USA: 37% Canada Small Business Tax: 9% USA: varies from 13% to 21% depending on classification But our provinces tax more than US States enough to entirely close the gap. In fact US Corporate taxes average 26% while Canada's average 27% when u add provincial taxes It's almost like Provinces government grew in size to compensate a shrinking Federal Government Also Ontario and Quebec are a big reason why our overall provincial debt is so high... Ontario and Quebec are both in awful financial shape and both Provinces combined are over 65% of population and GDP So even with some Provinces doing ok Financially its not enough to bring the National average Provincial debt down cuz those two Provinces combined have as much debt as the entire Federal Government practically Link to post Share on other sites More sharing options...
Economy 53,075 Posted April 25, 2019 Author Share Posted April 25, 2019 @Born To Slay doesn't America also have some kind of restrictions on deficits US States can run? Link to post Share on other sites More sharing options...
RAMROD 117,911 Posted April 25, 2019 Share Posted April 25, 2019 That is not right What the use og that when you need to buy separate insurance for when traveling?! (ﾉ◕ヮ◕)ﾉ✧*:･ﾟ ⁱᵐ'ᵐᵃ ʰⁱᵗ ᵈᵉᶠʳᵒˢᵗ ᵒⁿ ʸᵃ, ˡᵉᵗ'ˢ ᵍᵉᵗ ⁱᵗ ᵇˡᵃᶻⁱⁿᵍ﹗ (*´艸｀*) ♡♡♡ Link to post Share on other sites More sharing options...
Born To Slay 10,996 Posted April 25, 2019 Share Posted April 25, 2019 1 hour ago, Economy said: @Born To Slay doesn't America also have some kind of restrictions on deficits US States can run? It varies very much by state, however only one state (Vermont) has no restrictions at all. Here’s an interesting piece on the subject if ur interested. https://www.investopedia.com/ask/answers/012015/can-state-and-local-governments-us-run-fiscal-deficits.asp Link to post Share on other sites More sharing options...
Economy 53,075 Posted April 25, 2019 Author Share Posted April 25, 2019 12 minutes ago, Born To Slay said: It varies very much by state, however only one state (Vermont) has no restrictions at all. Here’s an interesting piece on the subject if ur interested. https://www.investopedia.com/ask/answers/012015/can-state-and-local-governments-us-run-fiscal-deficits.asp Coolill read this article Also I answered ur question about the provinces above I don't know if u saw it Here in Canada there's no restrictions tho. They can run whatever deficits they want Link to post Share on other sites More sharing options...
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