Here are my notes via the “Memo” app of my cellphone on 12/11/42011 at 11:37am.
Once you are age 65, you are automatically “covered” under Medicare, where Part A is for medication and Part B is for doctor’s visits. Your private health insurance, if any, is your supplement.
The reason why you work while you are young is so when you get old and are NO longer able to work, at least you have some sort of monthly income to help pay for bills and other expenses.
12/11/2011 11:44am. Depending on your contract, you may not get much social security. For example, civil service workers don’t put into the social security program. And that is why “Binh” only received $135 a month: he enjoyed the cash on hand while he was working and probably stashed more on the island. But I’m only assuming, here.
12/11/2011 12:07pm. In summary, the more you “participate and pay” into the social security program, which is a “forced” retirement system (or a politcally-correct word, “mandatory”), the more you get later in life. Compared to “Steve Luu”, whose monthly paycheck deductions are in the thousands, “Binh” can laugh about his fate for all we care.
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