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Health Insurance, Money & Health
Im never one to promote the notion that there is one size fits
all with regards tothe health insurance conversation, but it
certainly is worthy to be very intentional aboutthis touchy topic.
Here are some things to consider as you decide what is appropriate
for you and your family.
According to the Kaiser Family Foundation, the typical American
family buyinghealth insurance spent approximately $10,880 per year
for health insurance in 2005. Thisis up 71% from $6,348 in 2000. As
of 2009, the numbers are even higher and I nearlychoked on that
number when I reviewed the original ones! In addition to
healthinsurance, for those that actually needed medical care, there
are the additional expensesassociated with co-pays and the ugly
non-covered medical conditions and proceduresthat occur more often
than anyone would care to admit. Its interesting to contemplatethe
fact that the perceived need for health insurance is slid into the
minds of so many asan automatic necessity....a presupposition for
existence almost as many proponents wouldhave us believe. Its a
presupposition that is very worthy of careful examination.
Whatother options are there? What financial models may exist that
would preclude the need to
purchase health insurance? What sort of beliefs would one have
to have in order to seehealth insurance as possibly a drain on the
economic viability of the American family?In my many conversations
with many people of varied backgrounds, beliefs and habits,Ive
found a coterie of people that have gone against the grain and dont
purchase healthinsurance. Enjoy meeting a couple of these
people.
Several years ago, I asked a Naturopath / Acupuncture Doctor,
Doug D. about themotivation behind his interest in and entry into
the fields of both Naturopathy andAcupuncture. He relayed a story
about his father in law who had been proscribed averitable death
sentence due to cancer from the medical establishment. It was
shortlyafter the father in law went against the grain of
conventional medicine by refusing theradiation and instead putting
to good use a very natural, non-patentable herbal teaformulated by
the Ojibwa Indians of North America that he completely overcame
hiscancer and went on to live another number of healthy, productive
years. This epic andseemingly miraculous cure compelled Doug D. to
question the disease model of medicine paradigm and begin on a path
of studying natural healing modalities.
Jim B. was a sickly young police officer and family man in his
late 20s living inQueens, New York when his wife introduced him to
her Uncle Pat who was a
Naturopathic counselor and Chiropractor in Brooklyn, NY. After a
number of treatments, Jim B. was healed of his previously pervasive
ailments. He witnessedcountless other successful healings and
health transformations in Uncle Pats patients thathe too was
compelled to enroll in Chiropractor school and became a
Chiropractor and
Naturopathic Doctor as well. Dr. Jim B.s is well into his 70s
and is still a practitioner.Uncle Pat is in his 90s and still is a
practitioner and lecturer on health and wellnessmatters. Dr. Jims
three children are now grown and have never received vaccinations
or visited conventional medicine doctors and are healthy, well
adjusted adults with greatcareers and families. In light of these
stories, I must pose the questions: is health
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insurance as necessary as we thought it was? What if the reality
tunnels that we wereunconsciously buying into were somehow flawed?
Is there merit to non-conventionalmedicinal cures and practices?
Dr. Jim says: Many a man has the eyesight of a hawk and the vision
of a clam. Expand your mind and look to new avenues for health
andwellness.
For sake of brevity, well not endeavor to answer all of these
questions in this brief article. For your convenience, at the end
of this article, Ive included someadditional reading resources for
your benefit. I would like to, however, investigate someof the
financial implications of opting out of the health insurance
model.
If you consider the average health consumers expenditure of
roughly$900/month, consider that:
1) Invested for 5 years at 9% yield, $900 /month blossoms to:
$67,8002) Invested for 7 years at 9% yield, $900/month blossoms to
$104,7843) 10 $174,162
We could investigate a number of creative possibilities such as
combining thiswith leverage in real estate for compounded returns
that could possibly dwarf what isrepresented here. Another
consideration is the fact that there are alternative programs
for
people that are half way between insurance and no-insurance such
as discount fee for service programs that, for a nominal fee
($89/month for example) give a family access todiscounted medical
fees in conjunction with a medical savings account.
In short, there are several worthwhile possibilities that exist
for one to examine a potentially healthier financial (and physical)
existence without health insurance and theconventional models of
medicine. To be sure, its well worth the examination
andconsideration of the various options that dont get publicized as
much.
by Eric Johnson The Financial Independence Project, Inc. &
Expanse Financial, Inc.941.713.9307 - Financial Independence and
Mortgage Strategies
