Posts Tagged ‘federal government’
Should Christians File for Bankruptcy?
“I am often asked what the Bible says about Christians filing for bankruptcy, and it is a serious spiritual struggle for many,” says San Diego attorney Carl Starrett, in his Legal Tips and Commentary blog. “Christians often struggle with feelings of guilt that creditors will not be repaid,” he says. “Others feel that they have failed God by not being good stewards with their money. Others believe that the Bible condemns bankruptcy.”
According to a Bankruptcy Statistics report last year, bankruptcy filings rose to 6,000 a day in May 2009 when the United States economy turned. A USA Today report from the same week said, “Filings are surging back in part because of rising job losses. The unemployment rate could hit ten percent this year. And tighter credit, dwindling 401(k) accounts, smaller paychecks, and less savings have left unemployed workers—and those who are working but struggling—with fewer financial resources to keep creditors at bay.”
While some bankruptcies may be the result of sudden unexpected financial setbacks, Christian finance writer Jim Paris says statistics really don’t support this. “Most bankruptcies are the result of individuals spending more than they earn over a long period of time,” he says. “Bankruptcy will provide you the chance to start over again, but you will likely end up in the exact same circumstances unless you change your financial habits.”
Like the population as a whole, many Christians are struggling with the decision to file for bankruptcy. Christians who don’t take their decision lightly. Christians who have tried everything possible to eliminate their debt until bankruptcy seems, as a last resort, their only option.
But, is bankruptcy scriptural? Matthew Tozer and Ben Lofstedt attempt to answer this question in an article mentioned on the Starrett blog. They begin by defining the term bankruptcy, then examine what the Bible says.
America’s founding fathers recognized the importance of bankruptcy, say Tozer and Lofstedt. According to the U.S. Constitution, the government has the right to make bankruptcy laws. Modern bankruptcy laws, instituted by the federal government, provide relief for overburdened debtors—an opportunity for debtors to get a “fresh start.”
In most cases, bankruptcy will discharge the debtor’s obligation to repay some or all of their debts. Therefore, bankruptcy considers the forgiveness of debt. Likewise, say the authors, the Bible contains debt forgiveness laws.
In a Chapter 7 bankruptcy, under federal law, a debtor may only receive a discharge of debts once every eight years. Under biblical law, the release of debts came at the end of seven years. Eugene Peterson’s The Message Bible translates Deuteronomy 15:1-2:
“At the end of every seventh year, cancel all debts. This is the procedure: Everyone who has lent money to a neighbor writes it off. You must not press your neighbor or his brother for payment: All-Debts-Are-Canceled—God says so. You may collect payment from foreigners, but whatever you have lent to your fellow Israelite you must write off.”
In Proverbs 22:7, the Bible refers to debt as bondage: “…the borrower is servant to the lender.” In other words, the debtor is slave to the creditor. Tozer and Lofstedt note what happens at the end of the sixth year, according to the Bible. The Message translation says:
“If a Hebrew man or Hebrew woman was sold to you and has served you for six years, in the seventh year you must set him or her free, released into a free life. And when you set them free don’t send them off empty-handed. Provide them with some animals, plenty of bread and wine and oil. Load them with provisions from all the blessings with which God, your God, has blessed you.” The passage ends, “Don’t for a minute forget that you were once slaves in Egypt and God, your God, redeemed you from that slave world.”
Like the biblical provisions cited above, today’s bankruptcy laws allow debtors to keep some exempt property when they file for bankruptcy. “This gives debtors a fresh start and discourages debtors from going into debt-bondage again, after the bankruptcy is over, in order to survive,” say Tozer and Lofstedt.
They compare the law of justice with the law of mercy. Economically speaking, if you agree to borrow money and repay the debt, you must pay back this debt. That’s the law of justice. On the other hand, if you cannot pay back the debt, you may, through bankruptcy, obtain forgiveness for your obligation. That’s the law of mercy.
As with any act of mercy, someone must carry the burden—like Jesus carried our burdens when he died for our sins. With bankruptcy, the creditors and consumers bear the cost of unpaid debt. But the Bible says God will bless the lenders for their acts of forgiveness and mercy (Deuteronomy 15:5,10, 18).
With biblical principles, there is balance. And there is a balance in bankruptcy, too. Certain debts cannot be discharged through bankruptcy, such as child support, alimony, and debts involving fraud, drunken driving, and deliberate wrongdoing. Bankruptcy will usually not forgive student loans, taxes, and secured loans, either.
If you can repay your debts, you must do so. “We must accept the reality though, that there are cases where the amount of debt is beyond what a person may be able to repay over a reasonable period of time,” Paris says.
If you do not have the ability to repay your debts, bankruptcy is legally an option. Tozer, Lofstedt, Starrett, and Paris think it’s an option that is also biblically and spiritually available to Christians.
But your decision to file for bankruptcy should be made only after much prayer and consideration. Seek God’s guidance as well as godly financial counsel. You may find that bankruptcy, based on the law of mercy with biblical origins—if necessary—can give you a fresh start and a brighter financial future.
Private Health Funds in Australia – Helping People today React to Emergency situations
Article by Teresa Ellis
With the world turning out to be a lot more obsessive about finances, Australia is no exception. Numerous individuals hoping to have a holiday or migrate to the Land Down Under are now examining public and private health funds in Australia to know the way the system actively works to their own advantage.
What exactly is medical insurance in Australia like?
Medical insurance in Australia may be categorised into two: (1) public health and (2) private funds. Public health funds are created from public taxation and present coverage for residents. Taxation are at work in public hospitals and clinics all over Australian areas since these institutions present devices, treatment, and medicine. If an Aussie gets sick, she or he could stop at a community hospital and seek care for accidents or ailments that could need hospital stay.
The next is private health funds. Australia citizens often get private health funding to foresee any disaster or hospital treatment not covered by public health coverage. People submit an application and buy this coverage independently out of their very own income.
Is it mandatory to seek private health funds if you’re an Australian citizen?
Not really, but the federal government truly does motivate this. The Australian federal government has what is referred to as a Medicare Levy Surcharge (MLS) to influence a lot more individuals to secure private health funds. Australia’s MLS can be applied for taxpayers who are above specified earnings, but do not possess private hospital coverage. If an individual is part of this category, a surcharge calculated at 1% of taxable income is included on top of the Medicare Levy initially pegged at 1.5%.
The government imposed this method to cut back need for community health system. In a nutshell, less dependency indicates extra cost savings on the federal government’s part. It also indicates finding enough budget for future generations of kids and more mature residents who may have to depend on the public health system.
Why is it wise to go with private health funds in Australia?
Having enough expenses for medical emergencies is the leading motivator why people need to go for private health funds. Australia has a great public health system, but there is absolutely nothing like being ready to take care of any medical predicament. Medical center treatment and medicine might be specifically problematic for a person if she or he will cover it in its whole amount.
Having private health care coverage has helped save numerous people from paying out-of-pocket expenditure or their entire savings when emergency situations suddenly happened. It also assisted countless individuals steer clear of receiving high interest loans just to reply to crisis or hospital care.
Is medical holiday insurance included in medical insurance in Australia?
Travel insurance handles medical emergencies regardless whether one is travelling locally or internationally. This is outside of the standard medical insurance in Australia. If an individual has holiday insurance and the individual suddenly is afflicted with heart failure while in a foreign country, holiday insurance policy kicks in and helps the individual.
Based on the coverage, this insurance could pay out medical or dental expenses, as well as injuries and loss of life while travelling. It might also cover emergency medical help and hospital treatment due to injuries or sickness.
Given that medical insurance in Australia is a large concern, consumers must be cautious when selecting their insurance provider. They should also be cautious in signing up on a coverage immediately. Customers should instead analyze several offers and provide backgrounds so they get the most out of their money on this deal.
Report on Australian Health care System
The health care system in Australia though recognized as one of the best in the world has to undergo some changes. This is despite the heavy government spending to ensure the health of all citizens. The proposed changes are not only to extend the coverage to include all the citizens irrespective of culture, social status or physical ability but also change the outlook of the work force. The Aborigines lacked representation in the health care workforce thus acting as a major impediment in getting to understand their health problems and how best their health issues could be tackled (Australian Institute of Health and Welfare 2005). Nevertheless, in order to achieve this end the community has to change its culture and lifestyle to accommodate the modern way of life, education and societal values. This will ensure that the poor, disabled and the aged persons in the society are not neglected but taken good care of.
The Health care system should feature the concerns of the people who desperately are in need of it. These are the poor, aged and the disabled. There should be an effort to understand the lifestyle of the people in general for in most cases it contributes a great deal to their overall health. This includes the upbringing of the children, values within the family, social status and the general conduct of the entire population. Regarding the Aboriginal people the attention should be on the prevention and an early intervention to the attack of a particular disease (Australian Institute of Health and Welfare 2005). This also applies to the foreigners that currently live in Australia. The culture of the people will have to be taken in to due consideration as this will have an impact on the overall effect of the treatment.
In order to reach out to the people there must be an effort to extend to the homes more so to the aged and the disabled people. Those visiting the hospitals are also to be probed such that they furnish the attendants with the knowledge about the welfare at home and how it can be improved or accessed by the health workers. In this way the neglected persons in the society will be attended to. Similarly, those that are unemployed, lost jobs or located in the rural areas find it difficult to access health care. Since the government is committed to providing health care to all citizens irrespective of the cultural background, political or religious affiliation then it is vital for these populations to be given priority.
The health care in Australia is based on a cost sharing model whereby there are three stakeholders; the patient, the health insurance companies and the government. The latter is the major contributor to the health care paying up to 70%of the total health care cost i.e. 23% from the state government and the remaining 47% from the federal government(Duckett, S (2009). The government is responsible for a greater percentage of the entire cost as they believe that an individual’s financial capacity does not matter much as compared to the medical need. The service to be offered therefore is the main determiner on how the cost will be shared. For instance, in the public hospitals the funding is 45% state and 48% federal. The balance is funded by the private sector. On the other hand the federal government funds 82% of the medical services while the balance is met by the individual patient.
The private health insurance which is responsible for almost 10% of the net health cost is also allowed a 30% subsidy by the government. This subsidy provided by the federal government caters for everyone(Duckett, 2009) Almost half of the population has prescribed to the private health insurance. The cost per a family ranges from US$ 539 to US$ 1,078. This insurance is bought directly from the insurance company and not through the employer.
There are various factors affecting the health of the members of the community. These factors vary with the age, social status and the general lifestyle of the people. First we have the formation of the family whereby instability in its structure such as early pregnancies; alcoholism etc may result to poor health in future. Similarly social health, nutrition and poverty contribute significantly to the health of both children and parents. Poor families cannot access education and other vital facilities(Health Insurance Info 2009). This eventually leads to low self esteem, job insecurity and unemployment. On the other hand the older Aborigines and those with disabilities are more prone to diseases since they live in poverty much distanced from health facilities. The old and the disabled are also marginalized, exploited, abused and isolated which leads to further deterioration of their health.