In the nineties I was involved with a number of companies that brought Russian technology to the United States to develop businesses. At one point I asked one of the Russian gentlemen what he thought of our country. He said he was particularly taken by our privileged class. When I asked him to clarify the statement, he said, “You know, your teenagers.” He went on to explain how they drive the cars, buy the clothes and the electronic equipment, and they do it all at little to no cost to themselves. However, they are not the only group that has favor in this nation. There are other groups with favor based on age, health, income, net worth, and occupation.
Posts Tagged ‘health’
Employment Benefits Planning
Friday, October 2nd, 2009This is the time of the year when employers ask their employees to select the benefits they wish to establish for next year. The proper selection of benefits can result in great values or high costs depending on the employees’ understanding of alternative solutions and the real value benefits being offered. Unfortunately, it varies with each person.
If you are healthy and have no chronic diseases, life insurance offered through your employer will likely be more expensive than what is offered through non-group coverage. Proper selection of the coverage for reduced rates and adequate coverage is necessary and we can assist in that process. Group insurance may be the best alternative for someone with chronic diseases. It should be noted that a loss of employment will also mean a loss of group coverage. (more…)
A Brief Explanation of Medicare
Friday, July 10th, 2009In America today, we have seen a great deal of confusion about healthcare for the elderly. It is my objective to clear up some of the complexities of Medicare, which is simply health care for the elderly or disabled. To qualify for eligibility, you must be over the age of 65, disabled under Social Security for two years, or have end stage renal disease.
Medicare Part A is hospital insurance and pays some of the cost of skilled nursing care, hospice care, and home health care. This coverage costs about $400 each month unless you have paid Medicare taxes for 30 quarters (7½ years). Once these taxes have been paid, there is no monthly cost associated with this coverage. (more…)
Savings Tips
Thursday, July 9th, 2009Here are two ways to save money on health care expenses.
1. Shop for tests. If you need an expensive test that’s not covered by insurance, it might be worthwhile to compare prices among different labs and clinics. Fees can vary widely. Ask you doctor for the CPT (Current Procedural Terminology) code. If they can’t or won’t give it to you, The American Medical Association’s Web site, ama-assn.org, has an easy-to-use CPT search engine. Once you have the code, you can get price quotes from several providers.
2. Ask for cheaper drugs. Physicians don’t always know the cost of the drugs they prescribe. Ask your doctor if there is an equally effective but less expensive alternative to the medication you’re prescribed.
June 26, 2009 Newsletter
Friday, June 26th, 2009HELPING OTHERS
The complexity of good stewardship for today’s family has gone way beyond the average person’s comprehension and understanding. As an independent financial advisor for over forty years, I have found it increasingly difficult to stay abreast of the constant changes in government programs, tax law, health care, debt management, portfolio analysis, technology, food cost reduction, consumer products, automobile maintenance, estate planning, retirement planning, college cost reduction, home financing, extended health care (nursing homes, assisted living, etc.), career management, employment benefits, and personal budget management. Living expense reduction and asset management is my life’s work, but few financial planners specialize in both of these areas. If I have trouble keeping up with all the changes, do you think most people in our society have missed taking full advantage of their resources?
Savings Tips
Friday, June 26th, 2009Here are some ways to save money on food costs while still maintaining quality and nutrition.
1. Make a detailed list and stick to it. It prevents impulse buying, assists in planning weekly menus and helps determine how much you really do spend on food.
2. Buy fruits and vegetables that are in season. Not only do you save money this way, but the produce is obviously fresher.
3. Plant your own fruits and vegetables. You’d be surprised at how much you can grow in a small space. Low maintenance suggestions would be squash, zucchini, sweet peppers, or tomatoes. Herb gardens are also easy to grow and a healthy way to add flavor to meals.
June 12, 2009 Newsletter
Friday, June 12th, 2009Health Care for the Future
Current health care costs are estimated to be, on average, more than $8,000 for every man, woman, and child in the United States. I think we can all agree that there is not enough money available to pay for that. At the center of the problem is the need for law changes limiting excessive lawsuit settlements related to health care that cause the liability expenses for physicians and hospitals to soar. In addition, the vast majority of physician offices are run inefficiently. For the most part they are “mom and pop” organizations. A uniform standard for reporting and for claims processing would go a long way in reducing costs.
I recently met with a physician who does research on longevity and asked him what the most essential steps are to extend life. His answer surprised me. Meditation (prayer) was number one, followed by stretching, aerobic and anaerobic exercise, and finally, nutrition. As individuals we need to take control of our own health. Most of us know how to be healthy, but we often lack the discipline to follow through to make it happen. (more…)
Savings Tips
Thursday, June 11th, 2009Here are two tips to lower your healthcare costs:
Make the most of discounts. Many insurers offer discounts on services to promote healthy lifestyles, such as gym memberships, smoking-cessation and weight-loss programs, chiropractic service and acupuncture.
Sign up for employer incentives. Many employers are offering premium discounts, contributions to health savings accounts and outright cash incentives to employees who sign up for a wellness program or health assessment. Some also offer perks to people with, say, asthma, lower-back pain or diabetes for enrolling in a disease-management program.
Savings Tips
Thursday, May 21st, 2009This being National Osteoporsis Awareness and Prevention Month, we thought we would give you a few ideas on living a healthy life and saving money at the same time.
1. Prevent rather than treat – Wev’e all heard prevention is the best cure, and it is! One of the most effective ways to keep your costs of health care down is to take up and maintain a healthy lifestyle. This includes maintaining or attaining a healthy weight, exercising regularly, kicking any unhealthy habits, having regualr checkups to catch any problems in their early stage, and taking advantage of any wellness programs provided through your employer or local comunity center.
2. Take advantage of free services whenever possible – Most communities have clinics that may ofer free health screenings as part of their services to the community. Local clinics, hospitals and pharmacies often provide a variety of these, including blood pressure and cholesterol screenings and even mammograms. They may be advertised in your local paper or on your local radio station.
3. Eat foods in their most natural, unprocessed state - The processing of foods destroys nutritional content. The more processes it goes through before it gets to your body, the less it has to offer you.
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