#Medicare for all? A wholistic approach

#Medicare for all? 

A Wholistic Approach

Certainly discussing this topic today is a sticky or controversial subject. Both sides, assuming there are only two, are very adamant for their beliefs. Years ago, I managed long term stay hotels so I was often privy to persons venting.  Where there was a relationship, I got to hear his side of the issue, and I got to hear her side.  Somewhere in the middle is the "true" truth! I approach most big decisions with the same mentality as the old Dragnet detective, "the Facts ma'am, nothing but the facts".

Opinions aside, one concern is the cost.  It's interesting to note in this linked article, more of the GDP comes from health care in the US than in other countries.  It is also interesting to note his comment that Americans are sicker than other countries. Is it fair or reasonable either to assume one size fits all? With America's uniqueness, would #Medicare for All have what it takes to execute?

What about the quality of care?  While in college I worked in a hospital, also known as a teaching hospital, next to one of these "big name" clinics.  Around town, people were led to believe by clinic doctors one received better care than by those not a part of the group.  Well, guess what! I will never forget the words of the cardiac surgeon from the clinic deifying his skills.  The "outside" but local cardiologist seemed embarrassed.  The forty-seven-year-old male passed on the table. Was he ready for surgery?  How could two well-trained heart doctors make such a mistake? So will the quality of care really be different as this one argument suggests? 

Is there another side to the "true truth"? As mentioned above in the first article, a note was made to the sickness of the American public.  Why are Americans sicker than those in other countries?  Is anything being done about changing these results?  Is it possible to affect this issue in some way? Multiple sources have tried to sound this alarm but it seems that Americans are caught under a hypnotic trance or spell, seduction, or complete denial.  In his book,# Grain Brain, Dr. Perlmutter list a smorgasbord of cognitive impairments brought on by our alleged "healthy diet".  Also, William Davis, MD in his book #Wheat Belly list even more medical issues.  Both and others debunk the traditional Food Pyramid.  A disproportionate midsection certainly leads to other major health issues.  One might not come to realize the effect of their lifestyle until their later years, however, undergoing the change in lifestyle now can extend the latter years significantly reducing the cost of medical care in the future.

Thus the final question really should be, in my humble opinion, "Do we really want care for ALL?"  Or, can we find alternative ways to eliminate the need for care for many by simply re-educating the public to better care for themselves?

Is cancer in the cards for you?

Is cancer in the cards for you?

Recent findings in nutritional studies have debunked much of the conventional wisdom we accepted as children.  Effective dieting, as an example, is not practicing until you lose the weight but should be a lifestyle you maintain so that weight doesn't waffle. Most of the foods we eat are the cause of both medical and cognitive issues. We gain the weight because of the seductive foods we eat that cause our #wheat belly. The dementia grandpa has and the ADHD little Johnny has both come from the consumption of grains. Finally, the refined processing, chemical additives, and GMO's we consume rob us of our nutrients and eradicate our immune system providing a breeding ground for carcinogenic growth.  Review my suggested reading for more information.

Yet, most people think they are resilient or impervious to health issues until it happens to them.  Until we come face to face with cancer in a loved one, in a state of denial we tend to be.  Virtually no one stops to think of the financial impact cancer will have until they are trapped.

The statistics are alarming! According to the National Cancer Institute, the impact in the U.S. is shocking.

• "In 2016, an estimated 1,685,210 new cases of cancer will be diagnosed in the United States and 595,690 people will die from the disease.
• The most common cancers in 2016 are projected to be breast cancer, lung and bronchus cancer, prostate cancer, colon and rectum cancer, bladder cancer, melanoma of the skin, non-Hodgkin lymphoma, thyroid cancer, kidney and renal pelvis cancer, leukemia, endometrial cancer, and pancreatic cancer.
• The number of new cases of cancer (cancer incidence) is 454.8 per 100,000 men and women per year (based on 2008-2012 cases).
• The number of cancer deaths (cancer mortality) is 171.2 per 100,000 men and women per year (based on 2008-2012 deaths).
• Cancer mortality is higher among men than women (207.9 per 100,000 men and 145.4 per 100,000 women). It is highest in African American men (261.5 per 100,000) and lowest in Asian/Pacific Islander women (91.2 per 100,000). (Based on 2008-2012 deaths.)
• The number of people living beyond a cancer diagnosis reached nearly 14.5 million in 2014 and is expected to rise to almost 19 million by 2024.
• Approximately 39.6 percent of men and women will be diagnosed with cancer at some point during their lifetimes (based on 2010-2012 data).
• In 2014, an estimated 15,780 children and adolescents ages 0 to 19 were diagnosed with cancer and 1,960 died of the disease.
• National expenditures for cancer care in the United States totaled nearly $125 billion in 2010 and could reach $156 billion in 2020."
• It is necessary to note, while in some cancer death rates declined, in others, it increased.

Regardless of who gets cancer, the financial burden of cancer care can be devastating.  In a survey by the AOSW, Association of Oncology Social Work:  "66% of patients with major financial challenges suffer depression or anxiety, 29% delay filling prescriptions due to financial pressures, and 22% skip doses of their medications. Sixty-three percent of oncology social workers surveyed said financial issues reduce patients’ compliance with their cancer treatment even though that treatment is key to their recovery. Additionally, 40% of patients reported depleting their savings, almost 30% reported dealing with bill collectors, and 54% of those handling a major/catastrophic financial burden said it had become more difficult in the past year to afford treatment.

Furthermore, 68% of cancer patients and caregivers surveyed reported that the patient is experiencing financial hardship due to medical bills, and 55% of all cancer patients surveyed said the stress of dealing with costs negatively affects their ability to focus on their recovery."  Thus, it is important to have not only coverage but the right coverage so you do not find out you should have looked at that coverage closer.

Don't think you need coverage because you have health insurance?  Think again!  The problem with health insurance is it doesn't cover all the medical expenses.  "Given all of the above, is there any question as to why an increasing number of insurance companies-- Aflac, Colonial Life, Humana, and Mutual of Omaha among them—are offering supplemental policies that focus on, and attempt to reduce the costs associated with, cancer diagnosis and care? (http://www.quotewizard.com) Of course not!  

What about unforeseen out-of-pocket expenses?  Loss of work? Travel? Lodging? Meals away from home? These incidentals quickly add up and quickly deplete loved one's savings.  One doesn't obtain car insurance, homeowners, or other insurances after something becomes an issue.  So why would you treat your health any different?

Beating the Insurance Slumb(Part Three)

Beating the Insurance Slump

(Part Three)

GENERATING LEADS

By now you figured out how much time you want to put into your business.  You discovered how to organize your day, and now we want to discuss lead generation probably because you don't want to keep up the last two weeks pace.

Perhaps you thought that's all there is.  You have your leads.  You contact them and either they aren't home, they don't want to talk, or you set the appointment. Sometimes, they don't even remember sending the lead. The good news is there are different kinds of leads.

Everyone knows warm or hot leads are always desired. Maybe your company gives you what they call warm leads.  These are the ones who supposedly sent in a lead card recently in response to a mailer.  Or, you purchase leads from someone or a website that claims these are people looking for your product. After hearing I didn't send that in, you begin to wonder. So, why not get your own.

Is there something relevant, or new people need to know where your insurance would be a benefit to them?  Why not set up seminars to cover those issues?  In 1986 the US was concerned that the new legislative action, the Gramm, Rudman, Holding Act would cause much financial change. It so happened that I was selling tax-sheltered annuities at the time, which were only good to teachers and those working in non-profit organizations.  I set up meetings throughout the county at public schools and non-profit organizations.  These people learned by my presentation what option was open to them to lower they're taxable income and save more money. I was able to set appointments where we could further privately discuss their financial needs.  I ended up not only making money from the TSA's but also life insurance. Where could you make a short educational presentation that would generate appointments with people who were eager to know more?

In this highly competitive market do you stand out? Years ago before I started selling insurance, the company I worked for started training me as an area manager. I was trained to look for things managers overlooked because they saw the same thing every day such as the business sign lighting.
Would your business card, product, car, attire, etc be something that stands out so other people notice? Or would it look like everyone else's?  What would cause people to call you over all the other dull drabby cards (or presentations)?

Years ago if someone wanted to find something or someone, they used this big roach killer called a phone book.  Today, they mostly rely on the internet.  Do you have an internet presence?

Beating the Insurance Slump (Part Two)

Beating the Insurance Slump

(Part Two)

TIME MANAGEMENT

In the last section, we discussed breaking the sales slump. Now, keep the momentum going. It's time to discuss effectively using your time, officially called time management.  This is the second week.  You have 15 appointments but you need to also get 15 appointments for next week. You could plan on two days of appointments and two days of door knocks.  You could use your mornings, afternoons, or evenings for appointments.  The other part of the day, you could spend door knocking, phone calls, or other things. The key here is to know when is the best time to see people.  People who work probably won't be available until after 6pm. If they don't work, you pretty much have any time to see them. If you will be prospecting, generating leads with businesses, churches, senior centers, at libraries, etc., then you can only contact them when the doors are open. Plan your door knocking appropriately around your productive hours.  Again, being self-employed, your objective is to make money, not sales.  You should get to know your time better when you get to know your leads.

Years ago now, I use to manage hotels.  Believe me when I say time management is important there. You have to know when your guests will be leaving, when they start arriving, how many rooms will be staying or moving out, how many guests will check-in, etc. Each housekeeper needs a certain amount of rooms, has only so many hours, and you have to keep them busy. The point is you have appointments, time no one is available, time to do seminars, time to prospect, time to recruit, etc. It's up to you to keep your employees(you) busy.  Time is money!  It's your time, use it wisely. 

Beating the Insurance Slump (Part One)

Beating the Insurance Slump
(Part One)

GETTING STARTED

Sometimes IT happens to all of us.  If you are new to or thinking about starting a career as an insurance agent, IT pays to examine your plan. With the regulations placed today on salespeople, IT may seem nearly impossible to make a living. How you approach IT will make a big difference. In this post, I will look at what IT is, give you some ideas to correct IT.

The first thing to consider is how you view this position. Is this going to be a J.O.B., the old acronym for "just over broke" or, is this going to be your business? You essentially only have one boss, the amount of money you want or need to make. Are you going to plan for a 40 or 60-hour workweek? There was a time I took some sales jobs to learn other approaches to sales.  Once I rode with a guy selling picture encyclopedias.  The approach was to go to 60 businesses a day for the first three days of the week and drop off this book for people to review. Then the last two days we were to go pick up orders. Another was selling merchant processing plans.  We went to about 40 businesses a day writing those interested the same day. I didn't want to say it before, but we all have the same time each day and how you manage that time is important to your boss. Production is more important than the office or service work.

A 40-hour workweek has 2400 minutes in it.  This doesn't include bathroom breaks, cigarette breaks, lunches, etc. If you plan on doing door knocking to get appointments, then it is important to pack your doors close together.  Driving 30 minutes to the first door reduces the number of doors you can hit each day. For example, in my town, I can hit 15 doors in about 2.5 hours. Therefore, I could hit 45 or more doors a day and in my 12 hour day(60hr week), I could hit 72 doors. Realizing one day of the week you may have an office meeting that still leaves you with 180 to 288 doors knocked. What are the chances you would get several appointments out of this? We can discuss how you arrange your day later.

An alternate solution would be to make phone calls.  Due to the number of spam calls, and FCC regulations,  it takes more calls to get the same results of just a few years ago.  For example, I used to make 100 calls and get 3 appointments.  Today, it can take 100 calls to get one appointment. The major difference is people don't answer there phone like they use to.  The time of day is important though. In my market, people stop answering the phone after 7pm.

Do you know how many appointments you need? I know you don't know how much money you will make.  I get it! It depends on your closing ratio. This will improve with activity, but for now, it is something to include in your calculations. Therefore, if you close 30% of your appointments, you will need 15 appointments a week. Remember though, the object is to make money, not sales.

(Inspired by #The 10X Rule, by Grant Cardone)

Taxes and Retirement

Reading a Facebook post from a friend today, an old tax discussion came to mind.  It seems that trying to reduce your taxes has become a thing of the past. Acquiescence to being taxed has become the norm. If you told someone today that some companies paid zero for taxes, you're liable to hear they should be sharing their profits. So this poses a question. If you are saving for what are you planning?

To paraphrase Judge Learned Hand, you are NOT obligated to pay any more taxes than what the government requires. The government allows you to reduce the obligation, just like it allows bankruptcy.  So are you supposed to "just willfully" donate to the cause? It's your money, you need it now, AND in the future.

Simply put, the purpose of planning for the future is to save today, to reduce the taxes you pay, and increase your savings for the future.  After you retire, you have fewer expenses, lower income, and therefore lower taxes.  Of course, you knew that, right? That was true 30 years ago, but is this today's reality?

Today, partially due to the Gramm-Rudman-Hollings Act people still have the mortgage.  Unless owning a business, the mortgage is one of the few tax deductions left beside the personal deduction. Gasoline prices were $.86 to $1.61 whereas today it cost $2.56.  An average week of groceries for a family of four is $191, according to USA Today. The 40-year-old virgin is still living at home.  Depending on one's drug needs, the cost of prescription drugs can be $100.00 or more.

In North Carolina, the average Social Security check today is reported to be $1,404.91. The reported average wages are $3437.  That's a 59% reduction in individual income overnight upon retirement. If that is not something to think about, perhaps waiting until you turn 72 instead to get 130% of your social security check is.

Are you still with me?  We simply established the income goes down but the bills don't.  So how do you offset the difference? Government subsidies? They are not guaranteed. Part-time job? How long will the body sustain the workload? Savings?  Of course! How much?

If you haven't been following my heeding, perhaps you should. In addition to "the bills" mentioned above, one must consider the bodily decline, cost of medication, hospitalization, cost of medicare, cost of coverage beyond medicare, cost of your chosen health care outside of a hospital, and much more.

Just like you don't wait until after the accident to consider car insurance, neither will you want to wait until the health declines to consider how you will pay for your medical needs. If you don't have the finances to self-insure, which most people don't, correct insurance plans cover those deficiencies. For example, you don't need $1M of collision and comprehensive insurance, nor do you need to have $100k of accidental death insurance if you never leave home. 

If your agent cares about you, his fiduciary obligation to you is to do a needs assessment and you shouldn't be offended.  It's important to be "on the same page" during this decision-making process. If you don't feel comfortable with this, find another agent!

Now that you know why it is important to save, and some of what you are saving for, don't you want to save more? Why would you want to pay more taxes than you are required?