Finally, You Can Prevent — And Even Reverse — Heart Disease

Finally, You Can Prevent — And
Even Reverse — Heart Disease . . .

FREE video reveals the very same strategies heart expert
Dr. Chauncey Crandall uses with his own patients —
many of whom now live without the fear of heart disease
or dependence on expensive, side effect-laden drugs.

Can money buy happiness?

Can money buy happiness?
Yes, if you re poor.

Money is better than poverty, Woody Allen quipped, if only for financial reasons. If we re starving or homeless, money can bring a better life.

But beyond a certain point ” a surprisingly low point ” more money doesn t deliver more happiness.

A study of tens of thousands of people in 29 countries compared average life satisfaction in each country with average purchasing power (see Figure 9).^[1]It showed that in poor countries, purchasing power and life satisfaction are clearlyrelated. Yet once countries are half as rich as America, there is absolutely no relationship between money and happiness.

Figure 9: Life satisfaction and purchasing power in 29 countries

Looking within individual countries bears this out. Very poor Americans are less happy, but otherwise money does not affect happiness. Being one of the 100 richest Americans adds only a smidgeon to happiness.

Or consider a study of 22 lottery jackpot winners, who showed initial euphoria. It didn t last. Within a year, the winners were no happier than before.

More evidence: real purchasing power in three rich countries doubled between 1950 and 2000, yet happiness levels didn t rise at all. As countries become wealthier, depression soars, with victims also suffering at a much younger age.

The evidence is overwhelming. Being moderately well off means that you are happier than if you were very poor. But once you are well fed, clothed, and housed, getting wealthier probably won t make you happier.

In the nineteenth century, John Stuart Mill gave one excellent reason for this being true ” we don t want to be rich, we just want to be richer than other people. When our living standard improves but everyone else s does too, we don t feel better off. We forget that our cars and houses are better than before, because our friends all drive similar cars and have just as pleasant homes.

Right now, I m living in South Africa. Here, I feel rich. In Europe or America, I don t. My feeling has nothing to do with how well off I am and everything to do with how well off other people are. Living standards are much lower in South Africa, so I feel wealthy.

There s also the pain and hassle of making money. On April 8, 1991, Time magazine s cover story highlighted the price paid for successful careers:

• 61 percent of 500 professionals said that earning a living today requires so much effort that it s difficult to find time to enjoy life.
• 38 percent said that they were cutting back on sleep to earn more money.
• 69 percent said they d like to slow down and live a more relaxed life ; only 19 percent wanted a more exciting, faster paced life.
• 56 percent wanted to find more time for personal interests and hobbies, and 89 percent said it was important to them to spend more time with their families, something that their careers made difficult.

How are we doing now? Have many of us fled the rat race? Nah. We re still chasing more money for more time. The average working American now works 2,000 hours a year. That s two weeks more than in 1980! And the average middle-income couple with children now work 3,918 hours between them ” seven weeks more than just 10 years ago.

More money can be a trap, leading to more spending, more commitments, more worry, more complexity, more time on administering money, more desires, more time at work, less choice about how we spend our time, and degradation of our independence and life energy. Our lifestyle locks us into our workstyle.

How many houses or cars do we need to compensate for heart attacks or depression?

^[1]See Martin E P Seligman (2003) Authentic Happiness: Using the New Positive Psychology to Realize Your Potential for Deep Fulfillment, London: Nicholas Brealey.

http://flylib.com/books/en/1.522.1.36/1/

Health Insurance: What You Need to Know

Health Insurance: What You Need to Know

By LESLEY ALDERMAN
Published: February 2, 2009

With Americans spending an ever increasing amount on medical costs, it’s more important than ever to have insurance that fits your health care needs. So when you start shopping for a plan, don’t just look for one with the lowest premiums. Consider the services that are most important to you.

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The best place to get health insurance, of course, is from your employer. Group plans are typically cheaper, and your employer will probably cover much of the cost.

There are three main types of coverage you can choose from: H.M.O.s (health maintenance organizations), P.P.O.s (preferred provider organizations) and the newer option called an H.D.H.P. (high deductible health plan) paired with a savings account. A small number of companies still offer old-fashioned, fee-for-service plans, but their ranks are dwindling.

Here’s what you need to know about the most common plans:

H.M.O.S provide comprehensive coverage at a low cost to the consumer. In general, you don’t pay any deductibles or co-payments for basic care (and if you do, they will be relatively low). But your choices will be limited. You can generally use only the doctors and hospitals within the H.M.O.’s network, though more plans are easing up on this restriction, and your designated primary-care physician will determine the level of care you require and when you need to see a specialist.
Pros: Low cost. Coordinated care.
Cons: A limited choice of providers. If you go out of network, for example to a specialist, you will probably not be reimbursed.

PREFERRED PROVIDER ORGANIZATION AND POINT OF SERVICE plans were created in response to consumer frustrations with the limitations of H.M.O.s. You can choose to go to network providers and pay a small co-payment, or go out of network and have only a portion — typically around 60 to 70 percent — of your costs reimbursed. The main difference between the two is that a point of service plan requires a referral from your primary care physician to see a specialist, while the preferred provider plan does not.
Pros: More flexibility than an H.M.O.; lower overall out-of-pocket costs than a fee for service plan.
Cons: It’s tricky to predict your costs unless you’re willing to stay within the network. Getting reimbursed for out-of-network claims can be a hassle.

HIGH-DEDUCTIBLE HEALTH PLAN Over the past few years, more employers have begun to offer the option to sign up for a high deductible health plan that is linked to a health savings account or health reimbursement account. Some employers may offer the high-deductible health plan on its own and allow the employees to set up a savings account with the bank of their choice.
The plans work like the preferred provider option, but the deductible is much higher — at least $1,150 for coverage of a single person and $2,300 for families. To compensate for the larger deductible, employers typically offer different two savings options:

• A health savings account allows you to put away pretax dollars and then withdraw the money to pay your out-of-pocket costs. (Your employer may kick in some money, too.) In 2009, you and your employer can put up to a combined limit of $5,950 in a health savings account if you opt for family coverage ($3,000 for singles). The money rolls over from year to year, so you can basically store up a medical emergency fund. When you’re 65, you can take the remaining money out without paying a penalty, though you’ll pay taxes on the withdrawal if you’re not using it to pay for medical costs.
• A health reimbursement account is financed solely by your employer. Typically, an employer will contribute an amount equal to about half the employee’s deductible The money rolls over from year to year, but you cannot take the money with you when you leave the company.

Pros: Low premiums. Tax-free savings (in the case of the health savings account).
Cons: Potentially high costs, especially if you or a family member becomes chronically ill. Don’t choose this option unless you have the money to pay the deductible.

INDEMNITY, OR FEE-FOR-SERVICE, PLANS are offered by fewer and fewer employers because of their expense. They allow you to go to any doctor, hospital or medical provider you choose. The plan typically reimburses 80 percent of your out-of-pocket costs after you fulfill an annual deductible.
Pros: Flexibility. You can go to any medical provider, anywhere, without seeking plan approval first.
Cons: Your total out-of-pocket costs will probably be higher than in a preferred provider plan or H.M.O. Most fee-for-service plans don’t cover preventive care like flu shots or mental health services.

To help narrow your choice, here are the steps you should take:
1. Ask your favorite doctors which insurance plans they accept. If you find that one or more of your doctors do not accept any insurance plans, then you’ll want to select a plan that reimburses you for your costs when you go out of the network.
2. Make a list of all the services you and your family use. Include on the list things like vision care, dental, physical therapy, acupuncture and mental health care. Find out how the plans you like best will cover these services and at what cost.
3. Compare costs. Write down the costs associated with each plan, including premiums, out-of-network costs, and extras like vision or mental health care.

The Joint Commission on the Accreditation of Healthcare Organizations has put together a comprehensive list of helpful questions.

In addition to offering low-cost health insurance, your employer may also offer a health care flexible spending account, which lets you set aside pretax dollars to pay for your out-of-pocket medical costs. (If you have already signed up for a health savings account, you can only use the flexible spending account for dental, vision or post-deductible medical expenses.) You can deposit up to $5,000 a year in a flexible spending account, depending on the limit set by your employer. The money will be deducted from your paycheck and you can’t change the amount midyear. If you have high medical costs, using a flexible spending account can save you hundreds of dollars a year in taxes. But calculate your costs carefully. The money does not roll over to the next year. Any money you don’t use will be lost.

If you need to buy insurance on your own — there are a number of options to consider, including these:

First, if you are about to lose your job and work for a company with more than 20 employees, you can remain on your employer’s plan for up to 18 months, under a federal law called Cobra, the Consolidated Omnibus Budget Reconciliation Act. But you will have to pay the full premium plus 2 percent for administrative costs, and the expense is often quite high. This may be a good temporary measure, though, until you can find a more affordable option.

If you’re out on your own, try to find a group plan to join since group plans typically cost less and offer more benefits than individual plans. Can you join your spouse’s plan? Do you belong to (or can you join) a union, professional organization or alumni group that offers insurance? You may also be able to find a group plan for freelance workers. If you are over age 50, look at the plans offered by the AARP.

If a group plan is not an option for you, you’ll have to buy an independent policy. Fortunately, there are numerous plans to consider. The simplest way to compare policies and prices is by going to an online insurance broker like eHealthInsurance.com. At EHealthInsurance, for instance, you simply fill in your gender, ZIP code and date of birth -- and, if you want, the names of your doctors — and the site comes up with a list of policies for you to consider. You can apply online.

If the prospect of sorting and sifting through dozens of policies seems daunting, consider using an independent insurance agent, who sells many different kinds of health insurance. You can find agents in your area at the Web site for the Independent Insurance Agents & Brokers of America.
Individuals with modest incomes may be eligible for Medicaid. You may be able to get coverage for your children through the State Children’s Health Insurance Program, a federal-state partnership.

If you have a serious health problem and are unable to find coverage through a private insurer, find out whether your state has a high-risk pool that you can join. While these plans are not low in cost, they are often the only option for people with pre-existing conditions.

http://www.nytimes.com/2009/02/03/your-money/health-insurance/primerhealth.html?em=&pagewanted=all

Without health, there is no wealth

Business/Yap Ming Hui: Without health, there is no wealth

Yap Ming Hui

This article, explores the role of health factor in wealth management and how our health affects our financial position.

Since the rising cost of medical care is a concern for everyone, we will look into the financial impact of ill health.

Many wealth management books talk about maintaining good health in retirement years in order to live life to the fullest. I cannot agree more with that. However, in my opinion, the relationship of good health and effective wealth management goes back much earlier than that.

The importance of good health starts when someone is still studying in school. Good health keeps the mind alert and fresh which helps you to concentrate more on learning.

Comparatively, someone who does not have good health will always have various pains as well as complaints of lethargy. This will affect his learning. Even though both persons may graduate with the same degree, a healthier person is definitely more employable.

The relationship between wellness and your personal finance is even more obvious when you start working after college.

When you are in good health, your mind is alert and your body is fresh and strong. You feel more energetic and upbeat physically, mentally, emotionally and spiritually. You address the problems and challenges more positively and effectively. You would require less medical leave.

A sound mind and strong body will help you to perform your job well. When you perform your job well, you not only keep the job, but you also enhance your chances of getting promoted - all of which supply the income for your wealth management.

However, when you do not have good health, your mind lacks the alertness you need to be at your best all day, every day. Same thing happens to your body. When you are out of shape, your body lacks the stamina you need to be in your top form. This will directly affect your job performance.

When you are not able to perform the job well, you not only decrease your chances of promotion and increment, but you may also have difficulty in keeping your job. When that happens, the impact on your personal finance is direct and obvious.

Down the road, your bad health lifestyle may lead to critical illness such as heart disease, stroke or cancer if it goes out of control. The treatment of critical illness could easily eat away your financial reserves or even wipe them out.

In addition, you would also suffer the loss of income for not being able to work during the treatment and recovery period. When that happens, your financial position would definitely be affected. The consequence is that you are forced to adjust or postpone the attainment of your financial goals and dreams.

Even if you can afford all those expenses and income loss, wealth without health carries no value and meaning.

When you are bedridden or housebound, it is difficult, if not impossible, to pursue your dreams. Without good health, you would lack the energy and vitality for an active and fully engaged life.

You only get to fully optimise the value of your wealth when you are physically fit and mentally fresh. "Health is wealth. Without health, there is no wealth."

Even though you are blessed with good health now, you must not take it for granted. You may need to take some action to keep yourself fit. Your good health today does not guarantee you will still be in good shape tomorrow.

I have a client who was a sportsman when he was in school and college. He is always proud to show me his sport achievements. However, he did not continue to keep himself in good health. He skipped his exercises and was under tremendous stress as the business grew.

The last time I visited him, he told me that he had failed the stress test for his heart. The cardiologist told him that he had a minor heart attack that went unnoticed. The doctor put him on medication and warned him not to do excessive work.

Therefore, it is important to realise that our health could change in an instant. We must never take wellness for granted. It is an ongoing commitment, a never-ending series of moment-by-moment healthy lifestyle choices.

The message is clear. Poor health cost you good money, earned and unearned, now and in the future.

Practising healthy lifestyle to keep your body fit is definitely one of the best wealth management practices.

By taking charge of our health today, we can proactively steer clear of the unhealthy lifestyle that guarantees a reduction in quality of life and erosion of wealth.

In our journey to pursue wealth for financial freedom, we must never exchange it with our health. Always remember to watch your stress level and do exercises more regularly.

Yap Ming Hui is the managing director of Whitman Independent Advisors Sdn Bhd, the first multi-client family office in Malaysia.

http://www.nst.com.my/Current_News/NST/Sunday/Focus/2223449/1