Sunday, December 1, 2013

7 Benefits of Positive Thinking

Do you view your glass as half empty or half full? Do you tend to concentrate more on the problems or the blessings?


Your positive thinking (or negative thinking) is more than just a personality trait. It can influence your health, body, and overall way of life. If you consider yourself an optimistic person, good news: your sunny outlook could keep you healthy. Keep on those rose-colored glasses, because studies have shown that there are many benefits of positive thinking.

benefits of Positive Thinking

Benefits of Positive Thinking

1. Keeps your heart healthy
Being optimistic could be good not only for the mind, but for the ticker as well. According to a study Harvard researchers published in the Psychological Bulletin, optimism is associated with heart health and a reduced risk of cardiovascular disease, despite factors such as age, smoking habits, or obesity.
Related Article: 11 Ways to Keep Your Heart Healthy
2. Lowers stress levels
Researchers conducted a study of college students and assessed their stress and coping mechanisms at the beginning and end of their first semester of college. The researchers found that positive thinking was positively associated with low stress.
In a separate study on survivors of missile attacks, researchers also found that pessimists tended more towards anxiety and depression under stress.
Now, we know most of you luckily won’t ever have to deal with something so traumatic as a missile attack, but if optimism can work for them, imagine what it can do for you!
3. It’s good for relationships
According to an article by psychologists Charles S. Carver and Michael F. Scheier, positive thinkers are likely to have more luck in love.
As the article points out, this could be for several reasons. People are more accepting of those who are positive, and optimistic people are more satisfied in their relationship than pessimists because, like everything else, they concentrate on the good aspects rather than the bad. The article goes on to explain that positive thinkers tend to work harder and more effectively at relationships.
Related Article: 5 Steps to Attract Your Perfect Partner
4. Helps you age gracefully
Optimists are akin to fine wines and cheeses—they get better with age. According to a study done at University College London, positive thinking was associated with “healthy aging.”
5. Helps you take care of yourself
Though you’d think that people who expect good things to happen would take less precautions to avoid health disasters such as heart attacks, the opposite is true. According to Carver and Scheier, positive thinkers are more likely to keep their bodies healthy by taking measures such as eating well, having safer sex to avoid STD’s and STI’s, and taking vitamins. According to the article, they  “scan for threats to well-being but save their behavioral responses for threats that are truly meaningful.”
Related Article: Healthy Living Tips – 9 Ways to Stay Healthy for Life
6. Lowers blood pressure
If you have high blood pressure, your negative thinking may be to blame. According to one study in the Journal of Personality and Social Psychology, pessimists tended to have higher blood pressure than optimists. This is likely because of higher stress, which is often associated with higher blood pressure.
7. Increases pain tolerance
Your sunny outlook could save you anguish—literally. Though you’d think pessimists would have a higher pain tolerance because they are more likely to expect pain, the opposite is, once again, true. According to one study, those who see the glass as half-full tend to be more able to take pain, while their half-empty counterparts had a lower pain tolerance.

 

 

The Takeaway

The benefits of positive thinking are many. Though many see optimism as merely a personality trait, studies show that it’s much more than that. Expecting good things in life can make good things happen to your body. Optimists have healthier hearts, lower stress levels, lower blood pressure, higher pain tolerance, and more successful relationships—and they tend to take more health precautions and age more gracefully.
Life can sometimes seem threatening, and it’s easy to feel down and expect the worst sometimes. However, if you fight the urge and keep looking on the bright side, it will pay off—and your body will thank you.

Photo by Jon McGovern

Source: http://inspiyr.com/7-benefits-of-positive-thinking/1/

Monday, November 18, 2013

The Payoff in Waiting to Collect Social Security


If an insurance salesman offered a product with a guaranteed income of nearly 7 percent for life, it would be foolish not to question whether it was too good to be true.
But the fact is, such a product exists. And it’s “on sale” right now, for many people 62 and older, at the Social Security Administration. 

Some people nearing or on the cusp of retirement consider buying immediate annuities from insurance companies: they hand over a big pile of cash to an insurance company in exchange for a guaranteed monthly income payment for life. But you can also “buy” an annuity, so to speak, from Social Security, and it’s a far better deal. 

Think about it this way. If you delay collecting your benefits, which can be claimed anywhere from age 62 to 70, the money you leave on the table each year is basically a payment for a much higher stream of lifetime income. And that money will buy significantly more income, perhaps 50 percent more for a couple, than buying an annuity through a commercial insurer.
“It’s almost a no-brainer,” said Steven A. Sass, program director of the Financial Security Project at the Center for Retirement Research at Boston College, who analyzed the numbers. “Depending on how long you delay, you will get an income equal to about 6 percent or more of the savings used to produce that income. You will get that income, rising with inflation, with no risk, sent to you by the U.S. government.” 

Delaying benefits requires leaving sizable sums of money on the table, which, for many sixty-somethings, could be too difficult — psychologically or financially. Some want to start collecting what they’re owed, while others simply need the money to live on. And individuals who aren’t healthy should clearly start collecting benefits as soon as they’re eligible.
But for people who are yearning for more sources of guaranteed income, this strategy — buying more income from Social Security — is especially attractive now when interest rates are low. Commercial insurers cannot compete on price, experts said, and they also have overhead that the federal agency does not. “Annuities look particularly horrible right now because the insurers must invest in bonds,” Mr. Sass added, “and bond interest rates are brutally low.” 

Consider a couple with a 65-year-old husband and a 62-year-old wife who decide to buy an immediate annuity — one where payments would keep pace with inflation, and that would continue to pay out as long as either spouse was alive. If they paid $100,000 to an insurer, they would receive in exchange guaranteed lifetime income of about $3,840 per year, according to a quote from Vanguard. That translates into a guaranteed income stream of 3.8 percent a year on the money they used to buy the annuity. 

Next, consider what sort of income stream they could “buy” from Social Security by waiting to collect benefits. Assume the husband, who is eligible to collect $12,000 at age 65, delays claiming until he is 66. By waiting the extra year, he would get a benefit increase of $860, for a total of $12,860. 

But if he had to buy that extra $860 annual income, he would have to pay about $22,500 to an insurer. A much cheaper way of getting the extra income would be to wait an extra year for his benefits, and dip into his savings for the $12,860 he is not collecting from Social Security. (Or he could potentially work an extra year and not dip into his savings.) 
By doing this, he receives a guaranteed income of 6.7 percent when he “buys” the income from Social Security, according to Mr. Sass’s calculations, compared to an income of 3.8 percent he would receive from an insurer.  

“You will not get anything close to that anywhere else,” Mr. Sass added.
Now let’s imagine the retiree could afford to wait until he was 70 to collect benefits. By waiting those five extra years, his annual benefit would increase to $17,000 — $5,000 more than the $12,000 he could get at 65.  

But if he had gone to an insurer to purchase that extra $5,000 in annual income, it would cost more than $130,000, according to Mr. Sass’s calculations. The less expensive route would be to delay benefits, leave the $60,000 on the table, and also eat into his savings. That means he would be getting a 5.9 percent income if he “bought” the income from Social Security versus the 3.8 percent he would receive from an insurer. 

These income rates also compare rather favorably to the income you can generate by a diversified portfolio of stocks and bonds. “Given the volatility of such a portfolio, there is a lot of debate and ongoing research about how much you can safely withdraw without outliving your savings,” Mr. Sass said. Some research has found that the conventional wisdom — taking out 4 percent annually — could be too high. But for argument’s sake, let’s say it’s somewhere between 3 and 4 percent of the portfolio, and rises each year with inflation. That means you could initially pull out somewhere between $3,000 and $4,000 for every $100,00 invested. 

Delaying Social Security is a bit more attractive for married couples because you’re also getting something free that you would have to pay for in the commercial market: the survivor’s benefit. If the higher-earning spouse dies first, the survivor will continue to receive that benefit for the rest of his or her life. How much does it cost if you had to buy it? If we revisit the couple with a 65-year-old husband and 62-year-old wife, a survivor benefit for the wife reduces benefits by nearly a third, according to annuity pricing quotes from Vanguard. (You’ll also pay extra for an immediate annuity whose payments rise with inflation.)
“If you have a traditional couple where one worked a great deal and another didn’t work, by delaying claiming you can improve the survivor benefit substantially,” said Olivia S. Mitchell, an economics and public policy professor at the Wharton School of the University of Pennsylvania. “If you care about your wife or husband, that might also help them in old age.”
The benefits rise so that you will receive the same amount over your lifetime, regardless of when you begin collecting, if you live to average life expectancy. But if you are reasonably healthy, the payoff can be substantial. If the higher earner — or any worker — can hold off until they turn 70, the benefits collected will be at least 76 percent more than if payments started at 62. 

Take those who are set to receive $1,000 a month at their full retirement age, which is 66 for people born 1943 to 1954, though it rises to 67 for younger people. A retiree who signs up for benefits at age 62 will collect only $750 a month. The extra credit earned by waiting until age 70 would increase that payment to $1,320 a month.
Your benefits generally rise by 8 percent each year you wait to collect beyond your full retirement age. 

“There is this enormous payoff to waiting,” said Alicia Munnell, director of the Center for Retirement Research at Boston College. “And nobody knows that.”
Well, some people do. Of the 1.4 million men and nearly 1.3 million women who began collecting benefits in 2012, about 1 percent of the men and nearly 2 percent of women were at least 70.

Source: http://www.nytimes.com/2013/11/16/your-money/the-payoff-in-waiting-to-collect-social-security.html?ref=your-money-email&nl=your-money&emc=edit_my_20131118&_r=0

Wednesday, October 16, 2013

5 Things Super Successful People Do Before 8 AM

5 Things Super Successful People Do Before 8 AM

Rise and shine! Morning time just became your new best friend. Love it or hate it, utilizing the morning hours before work may be the key to a successful and healthy lifestyle. That’s right, early rising is a common trait found in many CEOs, government officials, and other influential people. Margaret Thatcher was up every day at 5 a.m.; Frank Lloyd Wright at 4 am and Robert Iger, the CEO of Disney wakes at 4:30am just to name a few. I know what you’re thinking - you do your best work at night. Not so fast. According to Inc. Magazine, morning people have been found to be more proactive and more productive. In addition, the health benefits for those with a life before work go on and on. Let’s explore 5 of the things successful people do before 8 am.

1. Exercise. I’ve said it once, I’ll say it again. Most people that work out daily, work out in the morning. Whether it’s a morning yoga session or a trip to the gym, exercising before work gives you a boost of energy for the day and that deserved sense of accomplishment. Anyone can tackle a pile of paperwork after 200 ab reps! Morning workouts also eliminate the possibility of flaking out on your cardio after a long day at work. Even if you aren’t bright eyed and bushy tailed at the thought of a 5 am jog, try waking up 15 minutes early for a quick bedside set of pushups or stretching. It’ll help wake up your body, and prep you for your day.

2. Map Out Your Day. Maximize your potential by mapping out your schedule for the day, as well as your goals and to dos. The morning is a good time for this as it is often one of the only quiet times a person gets throughout the day. The early hours foster easier reflection that helps when prioritizing your activities. They also allow for uninterrupted problem solving when trying to fit everything into your timetable. While scheduling, don’t forget about your mental health. Plan a 10 minute break after that stressful meeting for a quick walk around the block or a moment of meditation at your desk. Trying to eat healthy? Schedule a small window in the evening to pack a few nutritious snacks to bring to work the next day.

3. Eat a Healthy Breakfast. We all know that rush out the door with a cup of coffee and an empty stomach feeling. You sit down at your desk, and you’re already wondering how early that taco truck sets up camp outside your office. No good. Take that extra time in the morning to fuel your body for the tasks ahead of it. It will help keep you mind on what’s at hand and not your growling stomach. Not only is breakfast good for your physical health, it is also a good time to connect socially. Even five minutes of talking with your kids or spouse while eating a quick bowl of oatmeal can boost your spirits before heading out the door.

4. Visualization. These days we talk about our physical health ad nauseam, but sometimes our mental health gets overlooked. The morning is the perfect time to spend some quiet time inside your mind meditating or visualizing. Take a moment to visualize your day ahead of you, focusing on the successes you will have. Even just a minute of visualization and positive thinking can help improve your mood and outlook on your work load for the day.

5. Make Your Day Top Heavy. We all have that one item on our to do list that we dread. It looms over you all day (or week) until you finally suck it up and do it after much procrastination. Here’s an easy tip to save yourself the stress - do that least desirable task on your list first. Instead of anticipating the unpleasantness of it from first coffee through your lunch break, get it out of the way. The morning is the time when you are (generally) more well rested and your energy level is up. Therefore, you are more well equipped to handle more difficult projects. And look at it this way, your day will get progressively easier, not the other way around. By the time your work day is ending, you’re winding down with easier to dos and heading into your free time more relaxed. Success!

Source: http://smallbusiness.yahoo.com/advisor/5-things-super-successful-people-8-am-190800886.html

Also on Forbes:
16 Things You Should Do At The Start Of Every Work Day

The Top 25 Small Companies In America


The 20 Best Non-Tech Small Companies In America

Wednesday, October 9, 2013

Questions Often Asked About Health Law - NYT

October 4, 2013

Millions of consumers rushed to the online health care exchanges on Tuesday only to be greeted with long waits and frustrating error messages.
Those who managed to create accounts or peruse the plans offered in their state left with many questions about the Obama administration’s health care plan. Among them: What does all of this mean for my 26-year-old child, who is now too old to remain on my own policy? The premium subsidies are based on my income, but what if I have no idea what I may earn next year? How is “modified adjusted gross income” calculated anyway?
Last week, my column addressed the broad outlines of how the exchanges will work, from how the different tiers of coverage would be structured to what types of individuals would qualify for tax credits on their premiums.
Dozens of additional queries landed in my in-box this week. Here’s are some of the most frequently asked questions and an attempt at answering them:
Q. I haven’t seen any discussion about students. My son will be 26 next month, and thus can no longer be on my plan. He is a full-time student in another state and fully dependent on my financial support. Do you know where he fits into this system?
— Mark Alper, Berkeley, Ca.
A. Adult children lose coverage through a parent’s policy on their 26th birthday. But they can then immediately enroll on the exchange — even outside the open enrollment period, which ends on March 31. Individuals under age 30 may also qualify for a “catastrophic” plan, which carries a lower premium but a very high deductible (equivalent to the out-of-pocket maximum, or $6,350 for a single person, in 2014). Tax credits, however, cannot be applied to catastrophic plans.
Q. My difficulty and confusion is I don’t actually know what my annual income is or will be in the coming fiscal year. I am a freelance classical musician, meaning I have seasonal employment from as many as 20 employers in a year and I file tax returns in seven states and three countries.
— gibarian, San Francisco
A. The experts I spoke with said you needed to make your best educated guess when estimating your income. The exchange will verify it by checking your tax return from last year as well as your current income. (The federal government has contracts with firms that provide that information.) If your self-attested income varies by more than 10 percent when compared to those two sources, you will be asked to provide more documentation, according to a spokeswoman at the Department of Health and Human Services.
Q. I have very little annual personal income, but am fortunate to have other savings/resources that would allow me to pay for one of the better plans with higher premiums. (I have no access to any employer-sponsored plan). I am willing to enroll in one of these better plans on my state’s health exchange even if I don’t get any subsidy for it. (I seem to earn too little to qualify for a subsidy anyway.) Will I be allowed to do this, and do this without penalty or added taxes?
— KRyan, New York City
Q. I am currently unemployed but have a sizable trust fund. Do I qualify for discounts/tax credits when buying health insurance? Will I be required to show my federal tax return?
— Jory, Columbus, Ohio
A. You can certainly buy coverage on the exchanges when you don’t have coverage through an employer. Whether or not you pay full price or qualify for a premium tax credit depends on your modified adjusted gross income, which is based on your latest tax return (and yes, the exchanges will check your return).
If your household’s modified adjusted gross income is from 100 to 400 percent of the federal poverty level (that’s $11,490 to $45,960 a year if you’re filing as an individual and $23,550 to $94,200 for a family of four), you may be eligible for a premium tax credit, according to CCH, a tax and accounting service.
Several readers had questions about how the modified adjusted gross income is calculated. It’s basically your “adjusted gross income,” which can be found on line 37 of your 1040 tax return form. But it requires that you add back certain items like nontaxable Social Security income, tax-exempt interest and foreign-earned income, Mark Luscombe, a principal analyst at CCH, said.
The figure also includes income from items like dividends, interest, real estate and retirement account withdrawals. So even if you do not have much earned income, but have significant income from other sources, you obviously won’t qualify for financial assistance.
Premium tax credits and cost-sharing subsidies are generally based on your household income, which includes your spouse and any dependents for whom you file a personal exemption and who also earn enough money to file a return, he added.
Q. I get insurance through my employer. My same-sex husband has little to no income and will be using the exchange. Our state of residence (Virginia) is letting the federal government run the exchange. Our state does not recognize our marriage, but the Internal Revenue Service does. How will he determine income when using the exchange?
— S.G., Eastern U.S.
A. The I.R.S. said last month that all married same-sex couples would be treated as married for federal tax purposes, regardless of where they live. And starting in the 2013 tax year, all married couples will be required to file their returns together as either “married filing jointly” or “married filing separately.”
The insurance exchanges will also see you as married. In fact, if you’re a married couple buying insurance on the exchange — gay or straight — you’re required to file a joint federal return, the Treasury Department said. (Why? Imagine how many more people would qualify for subsidies if they used “married filing separately” status.)
Your premium tax credits will ultimately be reconciled against your 2014 household income. So when the exchange asks for your information about your projected income, it’s probably wise to use what you expect your combined household income to be in 2014. The exchange will verify it by checking your tax returns from last year as well as your current income.
Q. I am wondering whether moving to a new state is considered a life event. My state, Maine, has only two choices of providers and is said to be one of the most expensive states for insurance. I am contemplating moving to another state which has many choices, but can I cancel my Maine coverage and obtain new coverage in my new location? — jwc, Maine
Q. We are currently living overseas. When we move back to the United States, which will be after the enrollment period for the exchanges has closed, will we still be eligible to sign up?
— Lisa, Melbourne, Australia
A. Moving to a new state is indeed considered a qualifying life event, so you will be able to sign up even after the open enrollment period closes. The same goes for people moving back to the country. You do, however, need to be living in the United States to buy a plan on the exchange. American citizens living abroad are not required to get health insurance under the new law.
Q. I’m looking forward to buying insurance for my 82-year-old mom. She came to live in the United States this year and got her green card in July 2013. She is not eligible for Medicare since she has never worked/paid taxes in this country. How much will it cost to insure her?
— Martaines, Miami
A. Most immigrants who are “lawfully present,” including people with permanent resident status (also known as green card holders), can buy coverage on the exchange. Just like citizens, they are also eligible for premium tax credits and cost-sharing assistance if they meet the income requirements. (In fact, most legal immigrants must have coverage by 2014, unless they qualify for an exemption.)
As a green card holder, your mother will be eligible for the exchange, but will need to live here for five years to qualify for Medicaid. Since she is not eligible for Medicare, however, she can apply for a premium tax credit, said Lynn Quincy, a senior policy analyst at Consumers Union.
Premiums rise with age, but it’s hard to say how much she will pay since the exact rules will vary from state to state. Generally speaking, however, federal rules allow insurers to charge older adults (someone in their sixties, for instance) up to three times the premium they would charge younger adults, according to the Kaiser Family Foundation. It will be easier to get a more specific answer by checking the plans on your state’s exchange.
Q. I am eligible for Medicaid, but because of my treatment needs, I want to purchase insurance on the exchange (even at full cost). But when I state that I have no income, the Web site simply directs me to Medicaid — no option for the exchange. Can I purchase on the exchange? — Kate, Ill.
A. Yes. If you are eligible for Medicaid but not yet enrolled, then you can still buy coverage on the exchange. The drawback: people who can get Medicaid (or Children’s Medicaid, also known as CHIP) are not eligible for premium tax credits, according to Kaiser. If you can’t sign up on the Web site, try calling: 1-800-318-2596.
Q. I haven’t seen a clear statement as to whether being on Cobra (from prior coverage on my ex-wife’s employer plan) will exclude me from the exchanges. Can I drop the Cobra plan if there’s a better deal on the exchange?
— John, Livingston Manor,
N.Y.
A. If you lose your job, you may be able to extend your employer-based health insurance for up to 18 months through Cobra. (But you often must pay the entire premium — the share you paid when you were employed, plus your employer’s share.) If you have Cobra coverage, you can keep it. But you also can go to the exchange, where you might qualify for subsidized coverage. You can get exchange-based coverage as early as Jan. 1, as long as you enroll in a plan by Dec. 15.
Q. My 26-year-old-son recently lost his job (which did not provide insurance). He has very little savings. How is he expected to purchase coverage with no ability to pay?
— Jim, Poughkeepsie
A. He may qualify for Medicaid if he lives in one of the states that expanded the program, according to Cheryl Fish-Parcham, deputy director of health policy at Families USA, a consumer advocacy group. Some states have already started covering single adults, and others will begin later this year. (In the states that are not expanding Medicaid, only low-income parents with children, or low-income adults who are elderly or have a disability qualify, she said.)
If his income is above the poverty line and he doesn’t qualify for Medicaid, he may be able to buy a plan on the exchange and receive a tax credit to lower the monthly premiums. “The costs of some plans are quite minimal for people with low incomes,” she said. But the exchange also asks about household income, so what he is eligible for depends partly on whether he expects to file taxes on his own, or whether you expect to claim him as a dependent, she said. He may also qualify for a hardship exemption.
Q. I am retired and have rheumatoid arthritis. I had to enter a high-risk insurance pool and now pay exorbitant monthly fees for not very comprehensive coverage. Do I drop this insurance and go to the exchanges? Are there other private insurance I can qualify for? When I fill out an application, will they ask if I have a pre-existing condition?
— Robert, Conn.
A. Starting next year, insurance plans can’t refuse to cover people or charge them more just because they have a pre-existing condition, according to the Centers for Medicare and Medicaid Services. This rule applies to all plans sold on the exchanges, employer-provided or group plans and many individual plans sold outside the exchanges. But there is an exception: individual grandfathered plans which are essentially plans that existed before March 23, 2010, and have generally remained the same, don’t necessarily have to follow the new rule. The exchange application does not ask for health information. The earliest you can get coverage is Jan. 1 (if you enroll by mid-December), so don’t drop your current coverage before then.

  Source: http://www.nytimes.com/2013/10/05/your-money/estimating-income-and-other-questions-on-the-health-care-plan.html?pagewanted=1&nl=your-money&emc=edit_my_20131007&ref=your-money-email

Tuesday, October 1, 2013

A Guide to the New Exchanges for Health Insurance-NYT

Given all of the rhetoric about the Obama administration’s health care law, it’s not surprising that many consumers are confused about how the new insurance exchanges will actually work. Some states that oppose the law have gone as far as intentionally limiting the information that trickles out to its residents. 

But after much anticipation, the curtain will finally rise on the exchanges next week, providing millions of consumers with an online marketplace to compare health insurance plans and then buy the coverage on the spot. 

The exchanges are likely to be most attractive to people who qualify for subsidized coverage. Individuals with low and moderate incomes may be eligible for a tax credit, which can be used right away, like a gift card, to reduce their monthly premiums. People with pre-existing conditions will no longer be denied coverage or charged more (this applies to most plans outside the exchanges, too). And all of the plans on the exchanges will be required to cover a list of essential services, from maternity care to mental health care. 

“In today’s individual market, it’s like Swiss cheese coverage,” said Sarah Dash, a research fellow at the Health Policy Institute at Georgetown University. “Consumers should have an easier time figuring out what they are getting for their money.” 

But it’s still going to take some time to analyze the plans and their costs, which are expected to vary widely across the states. And the coverage may still pinch many families’ budgets. Fortunately, there’s a six-month window, from now to March 31, for people to figure it all out.
Here’s some information to get you started: 


Q. Where can I apply or get more information on the exchanges?
A. To avoid fraud artists, enter through the front door: Healthcare.gov. From there, you can find links to the exchange offered in your state. There may be technical glitches as the program gets started, so alternatively, you can call 1-800-318-2596. 


Q . When does coverage go into effect?
A. You can apply as early as Oct. 1, but coverage won’t begin until Jan. 1. The enrollment period for coverage in 2014 closes on March 31, 2014. After that, you can enroll only if you have a major life event like a job loss, birth, marriage or divorce. 


Q. What sort of coverage will be offered?
A. All plans will have to provide the same set of essential benefits, including prescriptions, preventive care, doctor visits, emergency services and hospitalization (this also applies to most individual and small-employer group plans sold outside of the exchanges). But plans can offer additional benefits, or different numbers of services like physical therapy, so you’ll need to do a side-by-side comparison to see what fits your needs — or at least the needs you can anticipate. 


Q. Are the plans sold on the exchange more comprehensive than plans outside?
A. There are four plan levels, each named for a precious metal. They all generally offer the same essential benefits, but their cost structures vary. The lower the premium, the higher the out-of-pocket costs.
The bronze level plan, for instance, has the lowest premiums, but will require consumers to shoulder more costs out of pocket. They generally cover 60 percent of a typical population’s out-of-pocket costs, and include deductibles, co-payments and coinsurance. The silver plans cover 70 percent; gold, 80 percent; while platinum covers 90 percent (and therefore carries the highest premiums).
If you buy a plan on an exchange, your annual out-of-pocket costs cannot exceed $6,350 for individuals and $12,700 for a family of two or more in 2014. Catastrophic plans are also available to people under age 30 or those suffering a financial hardship. These carry high deductibles (equivalent to the out-of-pocket maximum, or $6,350 for a single person, in 2014). You cannot apply tax credits to these plans, either.
Premiums will vary across the states because of a variety of factors, like market competition, the underlying cost of care and the negotiating power of the exchanges, according to Kaiser research


Q. If the costs with plan levels are similar, how will plans differ within the metal levels?
A. Networks of doctors and hospitals will differ, and cost-sharing structures may also vary. One plan might have lower deductibles and higher co-pays, whereas another plan might have a separate deductible for prescriptions. Various medications may also be covered differently. “If you are someone who is taking medicines, make sure you know what your drugs will cost in the various plans being offered,” said Cheryl Fish-Parcham, deputy director of health policy at Families USA, a Washington consumer advocacy group. 


Q. Will I be eligible for a premium tax credit (subsidized coverage)?
A. People with income between 100 percent of the poverty line (or about $23,550 for a family of four) and 400 percent of poverty ($94,200 for a family of four) are eligible for a tax credit to defray premium costs. (All income eligibility is based on your modified adjusted gross income; the online version of this column links to a guide explaining how that is calculated).
The tax credits are set up so that consumers will not have to pay more than a certain percentage of their income, ranging from 2 percent for those with incomes of up to 133 percent of the poverty level ($15,282 for a single and $31,322 for a family of four) to 9.5 percent for those with income of 300 to 400 percent of the poverty level, according to the Center on Budget and Policy Priorities. The dollar amounts of the credits are calculated based on the costs of the second-to-lowest-cost silver plan available to you.
Kaiser has a calculator that can give you an idea of your eligibility


Q. Can I get help with my out-of-pocket expenses, like deductibles?
A. People with incomes between 100 percent of the federal poverty line ($23,550 for a family of four) and 250 percent ($58,875 for a family of four) are also eligible for cost-sharing reductions, which means you’ll pay less for items including deductibles and co-payments, and you’ll have lower out-of-pocket maximums.
There is a big caveat: you can qualify for the reductions only if you buy a silver plan. When choosing a silver plan — and compare them closely, because they will differ — the exchange Web site will automatically show what you will pay, with the cost-sharing reductions included, according to the Center on Budget and Policy Priorities.
Even if you’re tempted by the bronze plans’ lower premiums, remember you’ll probably end up paying more for out-of-pocket costs. For people who qualify for both premium and cost-sharing subsidies, the silver plan will usually be the better deal, Ms. Fish-Parcham said. 


Q. Should I use all of my subsidy at once? How can I avoid owing taxes?
A. The premium subsidies are delivered in the form of a refundable tax credit, which can be used immediately to reduce your monthly premiums.
You can use it all right away, or you can use part of it, or none at all. If you expect your income to remain the same, you might use the entire credit. But if your income is likely to rise, it may pay to use only a portion of the subsidy. That way, you’ll avoid owing money to the I.R.S. at tax time.
If your income does change, report it to the exchange. If your income drops, you may be eligible for a larger credit. Changes in family size should also be reported. “It will all get reconciled on your taxes in the spring of 2015,” said Karen Pollitz, a senior fellow at the Kaiser Family Foundation. 


Q. How can I find out if my doctor accepts exchange-based insurance?
A. Many of the insurance providers’ networks of doctors and hospitals will be narrower than are typically found in commercial insurance, as my colleague reported this week. So just because your doctor accepts, say, a Blue Cross plan provided by your employer, that doesn’t necessarily mean the doctor will take the same carrier’s plan offered on the exchange.
The plans will be required to provide a directory that lists their network’s providers, Ms. Pollitz said, so inspect them carefully. 


Q. How will I know if my drugs are covered by the plans?
A. The exchanges must include a summary of benefits and coverage for each plan. That includes information about what your co-payments would be for generic, brand name and specialty drugs. It should also provide a Web link to the plan’s list of covered drugs and how they are categorized by a particular plan, said Ms. Fish-Parcham. 


Q. If I have employer-based coverage, can I go to the exchange for coverage?
A. You can, but you probably won’t want to. Your employer’s plan is usually a better deal. Many employers heavily subsidize your premiums and you can pay for your coverage using pretax dollars, something you can’t do if you buy coverage on the exchange.
“Plus, employer plans are typically fairly generous,” said Lynn Quincy, a senior policy analyst at Consumers Union.
Besides, if your employer offers you coverage, you probably won’t qualify for a tax credit unless your share of the premium (for the lowest-cost plan for individual coverage offered by your employer) is more than 9.5 percent of your modified adjusted gross income, Ms. Quincy explained.
If your employer’s insurance plan doesn’t cover 60 percent of medical costs, on average (what’s known as “minimum value”) you may also qualify for subsidized coverage. Your employer is supposed to let you know where the plan falls in terms of minimum costs. “If you are spending huge amounts out of pocket each year and you have a high deductible, it’s worth looking at what your possibilities are,” said Sara R. Collins, vice president of the health care coverage and access program at the Commonwealth Fund. 


Q. Am I eligible for Medicaid?
A. The health care law aimed to expand Medicaid so that everyone under age 65 would qualify if they earned up to 138 percent of the federal poverty level (that’s about $16,000 for an individual and $32,500 for a family of four in 2014). But the Supreme Court ruled in June that the decision to expand Medicaid is up to the states — and only 26 states have decided to move forward, according to Kaiser


Q. So if I’m poor but not eligible for Medicaid, can I get insurance on the exchange?
A. Yes, but unfortunately, many people in this situation won’t be able to afford it. People who don’t qualify for their state’s Medicaid program but earn too little to qualify for subsidies on the exchange will have to pay full price for the coverage offered on the exchanges. So if you can’t get Medicaid and your income is below 100 percent of the poverty level, you will not be eligible for subsidized coverage on the exchange. 


Q. What if I’m self-employed or own a small business?
A. If you’re self-employed with no employees, you can shop for coverage on the exchange.
If you have fewer than 50 employees, you can get coverage for yourself and your workers though the Small Business Health Options program, known as the SHOP Marketplace. “Small employers have always wanted to have the buying clout of a large employer and the SHOP exchanges offer them just that,” said Kevin Lucia, project director at Georgetown University’s Health Policy Institute. 


Q. What are the penalties for not having coverage? Are there any exceptions?
A. Most people will be required to have insurance, with some exceptions. You are not required to buy insurance if: the cost of insurance premiums would exceed 8 percent of your income, your income is below the threshold for filing taxes, you have a certified hardship, or you would have qualified for Medicaid but live in a state that did not expand the program. Illegal immigrants, the incarcerated, members of Indian tribes and those who qualify for certain religious reasons are also exempt.
Everyone else will pay a penalty. In 2014, it will cost you $95 or approximately 1 percent of your income, whichever is greater. The penalties will rise each year.

Source: http://www.nytimes.com/2013/09/28/your-money/health-insurance/a-guide-to-the-new-health-insurance-exchanges.html?ref=your-money-email&nl=your-money&emc=edit_my_20130930&_r=0

Saturday, September 21, 2013

Part-Timers Losing Health Insurance May Want To Thank Their Companies



How terrible. Home Depot (HD) and Trader Joe’s have decided to stop offering health insurance for part-time employees, moving them over to Obamacare instead. More companies seem sure to follow. And more wailing about greedy, heartless corporations is sure to follow that. Some workers may start to drop dead from sheer anxiety before Obamacare even goes into effect on January 1.

Once the new health law has been in place for a few months, however, Part-Time America may issue a collective sigh of relief. Nobody ever held up today’s part-time "mini-med" plans as model coverage. The majority of part-time workers don’t even get health insurance, and those who do typically get diluted plans with limited benefits they still have to pay something for. “You have to question whether that’s really insurance,” says Paul Fronstin, director of the health research program at the Employee Benefits Research institute. “They may not cover prescription drugs, and if you get cancer or end up in the hospital, they probably won’t help you a whole lot.”

Insurance offered under the Affordable Care Act, by contrast, could end up being a much better deal. Obamacare is complicated, and it will require many people to do detailed research on their insurance options instead of having an employer do it for them. There have also been elaborate efforts by foes of the program to depict it as The Ruination of Everything. So it’s not surprising that part-timers being told their employer is cutting them loose and sending them over to Obamacare are a little jumpy.
Actually enrolling could calm them down, however. Obamacare was designed to make decent health insurance affordable for people who otherwise can’t afford it, and whether you love or hate the program, it seems likely to succeed at that basic mission. That’s because the program subsidizes the cost of insurance based on your income, with the largest subsidies going to those with the lowest incomes.

Lots of confusion

There are many insurance choices under Obamacare that vary by state and apply to different income levels, which adds to the confusion. But the nonprofit Kaiser Family Foundation has built a helpful calculator that lets you enter your income and a few other basic details to get an idea of how much insurance would cost you under the program.

A single parent with three kids and an annual income of $25,000, for instance, could get an $8,800 insurance plan for a total out-of-pocket cost of $500 per year. Subsidies, in other words, cover 94% of the cost. Try to beat that on part-time pay.

A two-parent family with two kids and a $50,000 income could get a $10,000 plan for $3,365, with subsidies covering 66% of the cost. There’s one catch: You only qualify for such deals if you’re not able to get coverage through your employer. So if you’re a part-timer whose company canceled your watered-down insurance coverage, it may have actually done you a favor.

Trader Joe’s is one employer known for offering generous health care benefits, even for part-timers (until now). But even those workers could end up better off under Obamacare. In an internal email published by the Washington Post, a Trader Joe’s exec provided some calculations for a part-time employee who earns about $24,000 per year and has been paying about $167 per month as her share of a Trader Joe’s policy similar to a “silver” plan under the ACA. If she enrolls in Obamacare, the subsidized cost would fall to about $70 per month for nearly identical coverage. And that’s before a $500 annual stipend Trader Joe’s plan to offer part-timers to help them pay for insurance.

Some will pay more

Without a doubt, there will be some people who end up paying more for insurance as their employers offer less. Mostly, they will be higher-income workers who lose employer-provided coverage and have to buy it through Obamacare. Subsidies are phased out at 400% of the poverty line, which this year is $45,960 for an individual and $94,200 for a family of 4. Above that, people have to pay the full cost of coverage.

Other companies have been changing their health care coverage in ways that sound like they’re related to Obamacare but aren’t. Walgreens (WAG), for instance, will begin requiring employees to choose an insurance plan from a private “exchange” that offers at least 25 choices, instead of the three or four Walgreen’s has been offering. The concept is similar to the public exchanges that will be up and running under Obamacare, beginning October 1, with coverage beginning January 1. But the government plays no role and offers no subsidies in the exchange Walgreen’s is joining.

Walgreen’s will still bear much of the cost of its employees’ coverage, through fixed stipends it grants employees to help pay for care. But workers will now have to educate themselves more, choose coverage from a wide range of options, and pay the difference if they choose Cadillac coverage that costs more than the subsidy covers. The idea is to give employees a stronger incentive to control health care spending, by requiring them to pay more of their own money as costs rise.

IBM (IBM), Time-Warner (TWX) and General Electric (GE) have enacted similar plans for retirees, and companies in general are getting more aggressive about finding new ways to control health care spending as it become more and more of a burden. Obamacare may be part of the solution, but many companies would be doing this even without the health reform law. If the scaremongering over Obamacare ever stops, weathering changes in health care benefits may no longer require hypertension medication.

Rick Newman’s latest book is Rebounders: How Winners Pivot From Setback To Success. Follow him on Twitter: @rickjnewman.

Source: http://finance.yahoo.com/blogs/the-exchange/part-timers-losing-healthcare-insurance-may-want-thank-210354500.html

Sunday, September 15, 2013

The Anti-Aging Secret Dr. Oz Recommends: Tai Chi


Imagine an activity that can effectively combine your health and fitness needs in one place—a fun and effective exercise for combatting obesity and weight loss; and for promoting muscle tone, endurance; and as much calorie burning as running!


tai chi


This activity has been shown to help reverse heart disease, lower the risk of falls (falling is the #1 cause of death among people over 65), relieve depression and anxiety, undo the causes of Alzheimer’s, relieve chronic low back pain, and very possibly slow cellular aging. Hello, “Fountain of Youth”!

 

 

What is Tai Chi?

The name of this all-encompassing activity is “Taijiquan” (Tai Chi)―the 1,000-year-old Chinese meditation/workout/martial arts practice that has had a resurgence of popularity of late.
Actor Keanu Reeves is hooked, and recently, he directed, produced, and acted in the film A Man of Tai Chi. Another fan is actor Hugh Jackman, who uses Tai Chi as part of his regimen to stay in X-man shape. And Dr. Oz says that Tai Chi is the ticket to living till 100.
Related Article: Health Benefits of Yoga
Tai Chi is 100% safe. It has no side effects, no contraindications, and no record of people being injured as a result of practicing it.
If Tai Chi is new to you, or you think it’s a slow-motion dance for old people, check out this quick guide to the top five benefits of Tai Chi.

 

 

Top 5 Benefits of Tai Chi

1. Lose Weight
Numerous studies have shown that Tai Chi affects metabolism and improves aerobic capacity. In one study participants were able to lower both their body mass index (BMI) and their waist circumference by significant amounts.
Due to the synergistic nature of its movements, Tai Chi burns between 300 and 500 calories per hour, depending on the intensity of your Tai Chi workout. When you practice Taijiquan, you use more than just your arms or legs; you’re using your entire body.
The more of your body you use, even at a slow pace, the more calories you burn.
Related Article: Why Burst Training is Your Best Fat Burning Workout
2. Build Muscle
Practicing Tai Chi is a great way to build and tone muscles. In particular, the legs are working continuously. In a ...


typical 20-minute Taijiquan routine, you may perform the equivalent of 100 lunges.
The upper body also gets a great workout, as this practice utilizes weights and other methods.
3. Stress Less
More than 20 million adults in America suffer from depression and/or anxiety. However, Tai Chi is a great solution and an alternative to many medications.
More than 40 studies have been done on the effects of Tai Chi on mood and overwhelmingly, Tai Chi has been shown to significantly relieve depression and anxiety (helping patients reduce medication intake), and alleviate withdrawal symptoms during drug-and-alcohol treatment programs.
Related Article: How to Manage Stress Without Alcohol or Drugs
In addition Tai Chi students often develop a sense of calm, centeredness, and positivity!
4. Fight Heart Disease
Are you a “Type A” personality, but are sometimes a bit tightly wound? Statistically, that places you at a higher risk for heart disease, the #1 cause of early mortality in the U.S.
The Centers for Disease Control and Prevention reports that about 600,000 people die of heart disease in the U.S. every year—that’s 1 in every 4 deaths. But according to Dr. Peter Wayne, author of The Harvard Medical School Guide to Tai Chi, “Tai Chi may be one of the more effective, versatile non-pharmacological interventions to prevent and rehabilitate cardio-vascular disease.”
Related Article: 11 Ways to Keep Your Heart Healthy
5. Boost Your Immune System
In a 2007 UCLA study (Irwin, M. “Journal of the American Geriatrics Society,” April 2007), researchers found that subjects who practiced Tai Chi had twice the immune response as the control subjects. According to the UCLA head researcher, the study suggests that “tai chi is an approach that might complement and augment the efficacy of other vaccines.”
So the next time you get your annual flu shot, back it up with a little Tai Chi practice, and it may be twice as effective!

 

The Takeaway

Tai Chi may be ancient, but it’s more effective, efficient, and safer than many modern methods of health and fitness self-care. Try it today—and get your Qi on!
*****************
david dorian ross headshot  - tai chiDavid-Dorian Ross has been playing Taijiquan (The Art of Harmony) for 35 years. He is America’s “Chi-vangelist,” whose public appearances introduce people to the benefits, accessibility and sheer joy of learning Taiji (T’ai Chi). Inside Kung-fu Magazine called him “the man who brought T’ai Chi mainstream.” His most recent collaboration is with international martial arts movie star Jet Li to promote Tai Chi throughout the world.

Source: http://inspiyr.com/tai-chi-benefits/

Thursday, September 12, 2013

More Americans exercise while they work



Sep 12, 3:36 AM (ET)By SAM HANANEL


(AP) Josh Baldonado, an administrative assistant at Brown & Brown Insurance, works at a treadmill desk...
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WASHINGTON (AP) - Glued to your desk at work? Cross that off the list of excuses for not having the time to exercise.
 

A growing number of Americans are standing, walking and even cycling their way through the workday at treadmill desks, standup desks or other moving workstations. Others are forgoing chairs in favor of giant exercise balls to stay fit.
Walking on a treadmill while making phone calls and sorting through emails means "being productive on two fronts," said Andrew Lockerbie, senior vice president of benefits at Brown & Brown, a global insurance consulting firm.


Lockerbie can burn 350 calories a day walking three to four miles on one of two treadmill desks that his company's Indianapolis office purchased earlier this year.


(AP) Josh Baldonado, an administrative assistant at Brown & Brown Insurance, works at a treadmill desk...
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"I'm in meetings and at my desk and on the phone all day," he said. "It's great to be able to have an option at my work to get some physical activity while I'm actually doing office stuff. You feel better, you get your blood moving, you think clearly." Treadmill desks designed for the workplace are normally set to move at 1 to 2 mph, enough to get the heart rate up but not too fast to distract from reading or talking on the phone comfortably.
It's been a decade since scientific studies began to show that too much sitting can lead to obesity and increase the risk of developing diabetes, high blood pressure and heart disease. Even going to the gym three times a week doesn't offset the harm of being sedentary for hours at a time, said Dr. James Levine, an endocrinologist at the Mayo Clinic.


"There's a glob of information that sitting is killing us," Levine said. "You're basically sitting yourself into a coffin."


More companies are intrigued by the idea of helping employees stay healthy, lose weight and reduce stress - especially if it means lower insurance costs and higher productivity, said Levine, an enthusiastic supporter of the moving workstations.
"Even walking at 1 mile an hour has very substantial benefits," Levine said, such as doubling metabolic rate and improving blood sugar levels. "Although you don't sweat, your body moving is sort of purring along."

Sales at Indianapolis-based TreadDesk are expected to increase 25 percent this year as large corporations, including Microsoft, Coca Cola, United Healthcare and Procter & Gamble have started buying the workstations in bulk, said Jerry Carr, the company's president.
At LifeSpan Fitness, based in Salt Lake City, sales of treadmill desks more than tripled over 2012, said Peter Schenk, company president.

"We don't see the growth slowing down for several years as right now we are just moving from early adopters, which are educated and highly health conscious, to more mainstream users," Schenk said.

With bicycle desks or desk cycles, workers can pedal their way through the day on a small stationary bike mounted under their desk.

Treadmill desks can range from about $800 to $5,000 or more, depending on the manufacturer and model. Desks cycles start as low as $149 for models that can fit under an existing desk but can run $1,400 or more for those with a desk built in. Standup desks can run as low as $250 for platforms that can rest on an existing desk.

Some workers have opted for lower-profile - and lower-cost - ways to stay fit at work, such as sitting on giant exercise balls instead of chairs. Using the inflatable balls can help improve posture and strengthen abs, legs and back muscles.

"I've got nurses in my operating room who will use one of those balls instead of a chair," said Michael Maloney, a professor of orthopedics and sports medicine specialist at the University of Rochester Medical Center.

Maloney said anyone trying an exercise ball, treadmill desk or moving workstation should approach it with common sense. Those who have not been exercising regularly should start using the equipment in small time increments to avoid injury, he said.

"They have to just do it with some common sense and not overdo it," Maloney said. "Just pay attention to how their body is responding to the new activities."

Georges Harik, founder of the Web-based instant messaging service imo.im in Palo Alto, Calif., bought two treadmill desks for his 20-person office to share three years ago. Employees tend to sort through email or do other work while using the treadmills.

"I do it when I can," he said. "Sometimes it's not possible if you're really thinking hard or programming a lot. But this sort of low-grade activity that keeps people from being sedentary probably helps extend their lives by a few years, and we're big fans of that."

The office has also purchased standing desks for most of its employees. The desks can be raised up or down with the touch of a button, and Harik says at least three or four workers can be seen standing at desks to stretch their legs at any one time.

But not everyone wants one, Harik said. Some workers find it too distracting to incorporate standing or walking into their work, and some feel they are just not coordinated enough to multitask as they exercise.

Levine said he was at first skeptical that a standup desk would offer improvements in health comparable to treadmill desks or other moving workstations.

"It appears I was completely wrong," he said. "Once you're off your bottom, it's inevitable that you start meandering around. Within two minutes of standing, one activates a series of metabolic processes that are beneficial. Once you sit, all of those things get switched off."
Denise Bober, director of human resources at The Breakers, the resort hotel in Palm Beach, Fla., said having a treadmill desk in her office has made a big difference in how she feels after work.

"The more movement and interaction I have, the more energy I have at the end of the day," she said.

Bober spends one to three hours walking when she's in the office, usually at 2 mph.
"If I go faster, then I make too many typing errors, but if I'm just reading a report I can go faster," she said.
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Follow Sam Hananel on Twitter: http://twitter.com/SamHananelAP

Source: http://apnews.myway.com//article/20130912/DA8OMTPG1.html