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The Health Wealth Connection

Take care of yourself and you'll not only enjoy a better quality of life, you'll likely build more wealth, too!

 

Did you know that the leading cause of bankruptcy is due to medical debt? According to the American Journal of Medicine, a 2001 study indicated that 46.2% of all bankruptcies were associated with medical issues. In 2007, a new study revealed that over 60% of all bankruptcies were attributed to medical problems-and the medical debtors tended to be well-educated homeowners with middle-class occupations. Perhaps even more suprising is that most of the insolvent individuals had private health insurance.

So, how do you avoid becoming a statistic and having your health detrimentally impact your wealth? This article-which is the first in a two-part series-will provide you with some ideas that will enable you to take greater control of your future.

First of all, you need to develop and maintain good health habits-starting at an early age. Diet and exercise are two things that come to mind for many people. if you need some help getting back in shape, there are several local organizations to help.

The Mercer Island Community and Event Center is an outstanding local resource with classes such as: Tap Dancing, Zumba, Pilates, Hula Hoop and Yoga. There are several athetic programs available, including: pickleball, basketball, tennis, golf and co-ed softball leagues.

If you love to dance, Jazzercise may be a great exercise program for you. This choreographed, hour-long class features high and low impact cardio moves and strength and core training.

Club Emerald has daily high power classes-from Corelates and Six-Pack Spin to Performance Cycle and weekly Boot Camps.

Swim, join a sports league, or workout in the state-of-the-art fitness center at the Stroum Jewish Community Center. Dozens of fitness classes serve preschoolers to seniors and everyone in between.

Fitness Together provides customized resistance and cardio programs along with nutrition education and coaching. The intimate setting offers privacy and a personal touch.

Calling all martial artists! Karate West offers a variety of classes-from basic to black belt-for children and adults. You'll be developing new skills as you sweat your way into shape.

If you prefer the outdoors, enjoy the dozens of hiking trails, miles of bike paths, plenty of tennis courts and easy access to water sports, like swimming, paddle boarding, and sailing.

Getting in shape and staying active is just one of the habits needed for good health. There are a host of other important health habits, such as: getting enough rest; maintaining social connections and practicing good dental hygiene, to name a few. So, if you-or someone you love-hasn't yet developed good health habits, you might want to add this to the top of your list of goals. To your health and wealth!

About this column: Mercer Island Money will bring you smart advice, money saving tips and highlight important ways your dollars and investments can help your family and community.
What is your favorite way to stay in shape? Tell us in the comments.

luzouzts

10:35 pm on Friday, July 29, 2011

Unfortunately, right now insurers do cherry pick in a way that I think should be illegal. Insurance should not be about risk management, where companies use computer models to slice and dice their customer base into smaller and smaller segments to exclude more and more people. That's not a legit way that health insurance should be sold, only solution for precondition is being "Penny Health"

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Brent Michael Krupp

9:50 am on Sunday, July 31, 2011

Those studies were blatantly dishonest and those factoids should not be repeated anywhere reputable. When they looked at bankruptcies they counted anyone with ANY medical debt as having a "bankruptcies associated with medical issues". So owing $200 to a doctor and $1000000 on a house and you're in that 46.2% (or over 60%).

Sure, health costs can be immense and some people genuinely go bankrupt primarily because of medical debt but it is nowhere remotely near those percentages.

Some links (more are easy to find, those studies were comprehensively debunked): http://healthblog.ncpa.org/medical-bankruptcy-myths/
http://www.healthcarebs.com/2007/07/19/medical-bankruptcy-myth-debunked-yet-again/
etc.

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