Tips for taking responsibility for their own health and Understanding the Health Care Account
This interview is an excerpt from Kevin Gianni of Renegade Officers Round, which can be found in http://www.RenegadeRoundtable.com. In this excerpt, Dr. Jason Deitch actions in taking responsibility for our own health and understanding has the option of medical care.
Dr. Deitch is the co-author of best-selling book "Discover Wellness: How can you stay healthy get rich. "Dr. Deitch is also the founder of Discover Wellness Center and the Head of Welfare and WellCall Masters Circle, Inc.
Kevin: We're about 20 minutes of the call. I just want to remind you that you can find more information about Dr. Jason at: www.discoverwellnesscenter.com. Dr. Deitch, I want back to the consumer here and I want to talk about this team. This team sounds a bit overwhelming. From someone who may be thinking that do not have the money to support a team to help with their health. What can you say about that?
Dr. Deitch: Yes That's always one of the first things that comes up. Here is my belief about it. The reality is that more people these days have a greater financial responsibility for their health or illness than ever before. There is a growing trend which I predict will continue to grow, obviously depending on what happens when our new president comes in and what policies can take place, but the reality is whatever happens, consumers will be more financial risk than they are at greater risk to your health. Thuat is only going to be the trend.
So what really needs to happen for people to have to realize that your health is your responsibility. Our health is our responsibility. Until recently I think the awareness that people have had, consumers have had is that, "If this has to do with my health that should be covered by my insurance." It is the only place in our economy that we believe should be free and care. I think it's our responsibility as providers to start open our eyes to the facts.
The facts are that health insurance is actually more as your car insurance. Most people do not expect car insurance to cover the gas and tires and wipers and even some minor fender benders. Most everyone knows that if you go to your insurance if you have even a minor fender-bender, what will happen to your insurance rates? They will go up. So that most people have been trained to understand that. In health we have not got that point across. We have to.
The trend in predicting and writing about the book, the last chapter is "Staying Healthy Can you get rich" is really all about the new trend of health insurance plans with deductibles high and savings accounts for health. There may be some controversy in this regard. It's not perfect for everyone in all circumstances, but there is a large population of people who are great that really could be putting dollars before taxes in their own health savings accounts that allow them to do one of two things. I think this is an opportunity and I think this is really going down, not all but most most of the time people will benefit and be able to use the dollars to invest in their health through the use of what I think of health care as low-cost arrangements. One of two things will happen. Whether you will 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 they tend to be global in nature and relates this again in the creation of a welfare net. Thus, according to the laws, and if those people who are using health savings accounts, when a service is recommended by a doctor, a chiropractor, perhaps, could be a naturopath or other, that the service can be described, can be described, obviously review their laws and all that things not misunderstand what I'm saying, but those are qualified expenses to be paid with pretax dollars. Now that gives you an instant 30-40 percent, depending their level of tax savings in this type of service, which is tremendous.
The best chance is that people really understand that when you are investing in your health and such services are actually able to save too, and create a kind of additional retirement fund. So if you can not use your savings account health money, let it accumulates, can, in fact, accumulate hundreds of thousands of dollars over your life if you start early enough for their retirement. Probably we will use that money sooner or later, at some point in time, but to be able to accumulate hundreds of thousands of dollars in pretax dollars in an account supplemental retirement, gives a very good incentive to want to do what I can to get and stay well. I think, as I said, for most people, most of the time, get and stay well there is a majority of things you can do for yourself. Then you have additional support and assistance providers that can help with things you can not necessarily make for yourself.
Kevin: Right. Some people may not know exactly what a health savings account is. Can you briefly explain that? I did not realize that they can earn interest. Is that correct?
Dr. Deitch: Yes, it generates interest. It is very similar to an IRA or a retirement account additional classes. You collect your money. You get to save it. It's yours. That is the incentive. That's the point. And that's really the essence of how staying healthy can make you rich financially. We mean rich in every sense of the word. We know that wealth in life is your ability to have freedom and freedom comes its ability to be healthy and well and make decisions they want to do because it is not hampered by a kind of health condition that prevents you from doing that. But economically, yes, you can retire with hundreds of thousands of dollars if you follow this program we talk about in the book, following these recommendations.
A savings account for health is something that has recently become popular due to new laws passed only two years ago, is a bank account you must have a deductible health plan high rated high-deductible insurance plan that allow you to program and then a health savings account and deposit each year changes, is approximately $ 2,900 per year or more than about $ 5,000 for a family to put this money, before taxes, as you would with a retirement account, before tax in its own account that's your money. If you do not spend you save it. I think it's a tremendous incentive for people to invest in their welfare and will not have to spend. It's there if you need it and many of us are going to require a security blanket growing. After several years you may have tens of thousands of dollars in your account own, which is again pre-tax dollars to spend on any health care or medical care may be necessary to supplement these deductible high 2, 3, 4, $ 5,000 at a time. If you're doing this correctly you will have that money in an account that, in fact, actually do not have the risk that you may have, even if you go through a traditional insurance program.
People think that if you have a low deductible, perhaps 500 or $ 1000, what used be traditional, which is a much safer position. What people need to learn more about these are the new types of plans. If you do find yourself having high costs in many cases low-deductible plans may also have what they call a policy of 80/20 you're still responsible for 20 percent of their co-payments. Your out of Expenditure pocket can add up quickly if you were to need and use their insurance. High-deductible plans, but are responsible for your deductible first, maybe 1,000, 2,000, $ 3,000, many of these plans that cover 100 percent once you have covered the deductible. So depending on your perspective and your attitude in how you decide use your insurance really depends how you use it. I think there is a great education for most people to realize that it is much better to put that money in your pocket much better for you to become more responsible for their own health, accumulate dollars, they have access to any provider who would like to see and pay them directly for him. Because reverse psychology is that many people, and I know people and I'm sure you too Kevin, who go, "I have to pay a fortune for my health insurance. I have a cold, I have a sneeze, I have a pain and a pain, go to the doctor because I'm paying for it. I will get my money's worth. "There is a lot of criticism that can be argued that people do not receive the care they need. I will argue that too many people are almost hypochondriac about it because think they have to go to seek care because they are paying for it.
I just do not think consumers are educated enough yet consumers. And that is our job, that's our role. I think that is the potential that will really help a new paradigm come into place. Doctor means teacher and as professionals health do not think our job is to do things to people, is really to teach a better way. Let's see how things evolve with our new president, but there must be a better way. I promise you one thing, we can not afford the current system much longer.
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Kevin Gianni is an internationally recognized health advocate, author & film consultant. He has helped thousands of people take control of their own health naturally. For more information visit
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