Tips For Taking Responsibility For Your Own Health and Understanding the Health Care Account

Thursday, November 1, 2012
We’re about 20 minutes into the call. I just want to remind you that you can find out more information about Dr. Jason at this address: Dr. Deitch, I want to take it back to the consumer here and I want to talk about this team. This team sounds a little bit overwhelming. From someone that may be thinking they don’t have the money to be supporting a team to help with their health.

That’s always one of the first things that comes up. Here’s my belief on this. The reality is that more people these days have a greater financial stake in their health or sickness than ever before. There’s a growing trend that I predict will continue to grow, obviously depending on what happens as our new president comes in and what policies may take place, but the reality will be no matter what happens, consumers will be at greater risk financially the more they are at greater risk with their health. Thuat’s just going to be the trend.
So what really needs to happen for people is they have to realize that their health is their responsibility. Our health is our responsibility. Up until recently I believe that the consciousness that people have had, consumers have had, is that, “If it has to do with my health it should be covered by my insurance.” It’s the only place in our economy that we believe should be free and taken care of. I think it’s our responsibility as providers to start waking people up to the facts.

The facts are that your health insurance is really more like your car insurance. Most people don’t expect their car insurance to cover gas and tires and wipers and even little minor fender-benders. Most everybody knows that if you go to your insurance if you have even a minor fender-bender, what’s going to happen to your insurance rates? They’re going to go up. So most people have been trained to Understand that. In healthcare we haven’t gotten that point across. We need to.

The trend that I predict and we write about in the book, our last chapter is “Staying Healthy Can Make You Rich” is really all about the new trend of high- deductible health insurance plans and health savings accounts. There may be some controversy about it. It’s not perfect for everyone in every circumstance but there is a large population of people that they’re great for that really could be putting pre-tax dollars into their own health savings accounts that would allow them to do one of two things. I think this is the opportunity and I think this is really where it gets, not everybody but most people most of the time are going to benefit and be able to use dollars to be able to invest in their health by using what I think of as inexpensive healthcare modalities. One of two things will happen. Either you’ll be able to use your health savings account money when recommended by a doctor for qualified medical expenses... A chiropractor is the perfect type of doctor because they tend to be holistic by nature and this ties back into creating a wellness network. So under the laws, and if those people who are using health savings accounts, when a service is recommended by a doctor, by a chiropractor perhaps, it could be a naturopath or others, that service then can be qualified, may be qualified, obviously check your laws and all of those things to not misinterpret what I’m saying, but those are qualified expenses to be paid for with pre-tax dollars. Now that gives you an instant 30 to 40 percent, depending on your tax bracket, savings on these types of services, which is tremendous.

The best opportunity really is for people to understand that when they are investing in their health and these types of services that they are in fact able to also save and kind of create an additional retirement fund. So if you’re not able to use your health savings account money, let that accumulate, you can in fact accumulate hundreds of thousands of dollars over your lifetime, if you start early enough, for your retirement. You’ll probably use this money sooner or later at some point in time, but to be able to accumulate hundreds of thousands of dollars of pre-tax dollars as an additional retirement account, gives you a very good incentive to want to do what you can to get well and stay well. I believe, as I said, for most people, most of the time, getting and staying well is a majority of the things you can do for yourself. Then you have additional support and help from those providers who can help you with the things that you can’t necessarily do for yourself.