Pros and Cons of FSAs and HSAs – Part I
Part I – FSA As the time approaches to sign up for your company cafeteria plan, which do you choose the Flexible Spending Account (FSA)
Part I – FSA As the time approaches to sign up for your company cafeteria plan, which do you choose the Flexible Spending Account (FSA)
How Do You Balance Your Wheel of Life?
Look at your wheel, pick a flat area. For me this year – my flat side is my health.
I use the S.M.A.R.T. anagram – up to a point. I think the steps have value – some steps I think can put ceilings on our dreams. Balance is needed in applying these steps.
17% of our Gross Domestic Product (GDP or economy) is from healthcare. This is 8% more than other developed nations. But we don’t have a population with better health then other nations. The U.S. is 26th in life expectancy. (This is information reported by the Peterson Center on Healthcare. More on them later.)
One reason we have such high expenditure on healthcare is we haven’t been the best consumers of healthcare. Insurance coverage has made it too easy to not take responsibility for our health. We are a “fast food” fix it quick society.
We are in a season that many patents have expired on medications, and many are drugs that doctors commonly prescribe. Medications that used to cost pharmacies $400 for 100 pills, now cost pharmacies from $1 – $10 per 100 pills. What they sell them for is a different story.
One of the best ways to manage health care costs is to focus on lifestyle. As we have discussed, healthy choices that minimize inflammation, reduces chances of getting chronic diseases. That is one reason that paleo diets have been embraced and promoted by many doctors.
I recently had an experience that opened my eyes to the healthcare system. I have been fortunate to have good insurance coverage for the last 30 years. I am like many others, when the cost of care doesn’t impact my pocketbook; I am not as wise a consumer as I should be.
Two common New Year Resolutions are being more physically fit and healthy, and being more financially fit, saving more staying on a budget.
Impact of The Affordable Care Act Have you been watching the news on The Affordable Care Act more commonly known as Obamacare? Do
© 2023 All rights reserved