October 2008 Newsletter
October 1, 2008
Percy I
Our new dog, named for the beloved poet,
ate a book which unfortunately we had
left unguarded.
Fortunately, it was the Bhagavad Gita,
of which many copies are available.
Every day now, as Percy grows
into the beauty of his life, we touch
his wild, curly head and say,
“Oh, wisest of little dogs.”
~ Mary Oliver
Using Health Savings Accounts (HSA) to Control Healthcare Costs
by Stephen H. Hill, Ph.D., PLLC
With high gas prices and financial scares on Wall Street, families are seeking to save like
never before—but hopefully are saving wisely. Compromising your healthcare may not make sense, because it can so directly affect your job performance and family stability. And losing either will ultimately cost much more in the long run.
The good news is that there is a new tool to help you control your healthcare costs. Health Savings Accounts (HSAs) are a great way for individuals and families to make psychological and medical care more manageable for the budget. It can allow prudent choices, like seeking more efficient, preventative help before a true crisis erupts.
A Health Savings Account (HSA) can make psychological and medical services much more affordable. An HSA is an account that you can put pre-tax money into for future medical expenses, including psychological services. Banks, credit unions, insurance companies and other financial institutions are permitted to create a HSA for you. HSAs must be combined with a qualifying high-deductible health plan (at least $1,100 individual or $2,200 family deductible). This type of coverage usually will result in lower insurance premiums. Any company that sells health insurance may offer qualifying high-deductible plans– call them directly for details.
HSAs have numerous benefits, including:
- Security against unexpected expenses
- Affordability- lower your premiums by choosing a high-deductible plan, then use some of the savings to fund the HSA
- Savings- unused HSA dollars can gain tax-free interest
- Control- you make the decision about what provider to see, which expenses to cover, and how much to contribute monthly
- Portability- you retain individual HSA ownership, so changes in your job, insurance provider, marital status, or moving will not affect your HSA
- Tax Savings- HSA contributions can be made pre-tax, HSA savings grow tax-free, and medical cost withdrawals are tax-free
More info from the U.S. Treasury Dept. is linked at stephenhill.netfirms.com including a helpful HSA Basics Brochure and Frequently Asked Questions.
Once upon a time, riding a bike was reserved for kids. Later adults rode for fun or exercise. Now, a large number of adults leave their car in the garage and commute on two wheels. I have witnessed several bicycle-car close calls lately so offer these defensive tips for kids and adults as well. (borrowed from http://bicyclesafe.com/)
- The Obvious: Follow the rules of the road. Ride with the traffic, obey traffic signals, use hand signals.
- Wear a helmet. Bicycle helmets save lives and help prevent debilitating head injuries if you crash.
- Get a headlight and a rear blinking light. If you’re riding at night, you should absolutely use both – one to see and both to be seen.
- Ride to the left. Ride far enough to the left so that if the door of a parked car opens suddenly, you won’t collide.
- Don’t stop in the blind spot. Simply stop BEHIND a car, instead of to the right of it. This makes you very visible to traffic on all sides.
- Don’t ride on the sidewalk. Riders coming into an intersection from the sidewalk are invisible to motorists. Riding the sidewalk endanger walkers and you.
- Use your handlebar and helmet mirror and use it before approaching an intersection. Be sure to look in your mirror well before you get to the intersection. When you’re actually going through an intersection, you’ll need to be paying very close attention to what’s in front of you.
- Don’t pass on the right. Don’t pass any vehicle on the right even if a car ahead of you is going very slow. It will eventually start moving faster. If it doesn’t, pass on the left when it’s safe to do so.
- Look behind you before turning right and never, ever move left without looking behind you first. Some motorists like to pass cyclists within mere inches, so moving even a tiny bit to the left unexpectedly could put you in the path of a car. Practice holding a straight line while looking over your shoulder until you can do it perfectly.
- Don’t swerve in and out of the parking lane if it contains any parked cars. This puts you at risk for getting nailed from behind. Instead, ride a steady, straight line in the traffic lane.
- Never ride the wrong way on a one way street – even in a bicycle lane or on a sidewalk. Cars will only be looking the other way for traffic. A life altering accident can occur at just 10-15 mph.
A Few More Good Ideas:
- Choose wide streets.
- Choose quiet streets – avoid the busiest streets.
- At intersections, make eye contact with drivers before proceeding – even if you have the right-of-way.
- Remember – you are smaller and much more vulnerable than those cars out there. Stay keenly alert whenever you are riding in traffic.