Jan. 22, 2025

Is Investing in Healthcare Now the Key to Saving Thousands Later?

Ask Ralph: Can Spending More on Healthcare Now Actually Save You Thousands Later?

Welcome back to Ask Ralph, your daily dose of Christian wisdom for your wallet! Today, we're tackling a question that could save you a bundle and keep you feeling your best: Is Investing in Healthcare Now the Key to Saving Thousands Later?

Check out the full podcast episode:

You see, a recent study found that a mere $10 per person per year invested in community-based programs focused on increasing physical activity, improving nutrition, and preventing smoking could save our nation more than $16 billion annually within five years! That's a return of $5.60 for every $1 invested¹! Now that's what I call a heavenly return!

But as Christians, we're called to be good stewards of all that God has given us, including our health. Proverbs 22:9 tells us, "A generous person will prosper; whoever refreshes others will be refreshed." [Proverbs 22:9] And what better way to be generous to ourselves and those we love than by investing in our well-being?

Let's dive into why prioritizing your health is not just good for your body and soul, but also a blessing for your bank account.

The Ounce of Prevention: Why Preventative Care Matters

Think of your body like your home. You wouldn't wait until the roof caves in to start doing maintenance, would you? Regular cleaning, inspections, and upkeep keep your home in top shape and prevent costly repairs down the road. The same principle applies to your health.

Preventative healthcare focuses on staying healthy and catching potential problems early. This includes:

Regular check-ups: These allow your doctor to monitor your overall health, catch early warning signs of disease, and provide personalized advice. Think of it as a spiritual check-up for your physical body²!
Screenings: These tests can detect diseases like cancer, diabetes, and high blood pressure before you even experience symptoms, leading to earlier and less expensive treatment. Early detection is key, my friends³!
Vaccinations: These protect you from preventable illnesses that can lead to serious complications and costly medical bills. A small prick can save you a lot of pain later on³.

And here's the key insight: early detection and treatment are often less invasive and less costly than dealing with a full-blown health crisis³. It's like fixing a small crack in your foundation before it becomes a major structural issue.

Studies have shown that investing in preventative care leads to:

Improved health outcomes: You'll feel better and live longer! Who wouldn't want that³?
Lower mortality rates: Early detection and treatment can significantly increase your chances of survival. It's like having a guardian angel watching over your health³.
Reduced emergency room visits: Catching issues early means fewer trips to the ER for expensive urgent care. Nobody wants to spend their Sunday afternoon in a hospital waiting room³!
Decreased hospital admissions: Preventative care helps manage chronic conditions and avoid costly hospital stays. Staying out of the hospital means more time with your loved ones and less financial strain³.
Increased productivity: When you're healthy, you're more likely to be present and productive at work. This not only benefits your employer but also contributes to a stronger economy and a more prosperous society⁴.

The High Cost of Neglect: What Happens When We Don't Prioritize Our Health

Imagine ignoring that leaky faucet in your home. Eventually, it could lead to water damage, mold, and a hefty repair bill. The same goes for your health. Neglecting preventative care can lead to:

More severe illnesses: Untreated conditions can worsen over time, leading to more complex and expensive treatments. It's like letting that small leak turn into a burst pipe⁵!
Chronic diseases: These long-term conditions, like heart disease, diabetes, and cancer, require ongoing management and can result in significant medical expenses. In fact, the total direct cost for healthcare treatment of chronic diseases in the US was more than $1 trillion in 2016⁶!
Lost productivity: When you're not feeling your best, you're less productive at work, which can impact your income and financial stability. It's like trying to run a marathon with a sprained ankle⁵.
Disability: Severe health issues can lead to disability, impacting your ability to work and earn a living. This can have devastating consequences for your financial well-being and your family's future⁵.

The connection is clear, my friends: neglecting preventative care can lead to more severe health issues and increased healthcare costs in the long run⁵.

Investing in Your Health: A Biblical Perspective

As Christians, we believe that our bodies are temples of the Holy Spirit (1 Corinthians 6:19-20)⁷. Taking care of our health is an act of worship and stewardship. It's about recognizing that our health is a gift from God and we are responsible for managing it wisely⁸.

Here are some biblical principles that encourage us to invest in our well-being:

Honoring God with our bodies: We are called to glorify God in all that we do, including how we care for our physical health. Just as we maintain our churches and homes, we should also care for our bodies, which are dwelling places of the Holy Spirit⁷.
Being good stewards: God has entrusted us with our bodies and resources, and we are responsible for managing them wisely. This includes making healthy choices, seeking preventative care, and being mindful of our physical and mental well-being⁸.
Seeking wisdom: Proverbs 17:22 tells us, "A joyful heart is good medicine, but a crushed spirit dries up the bones." ⁷ This highlights the connection between our emotional and physical health. Taking care of our mental and emotional well-being is just as important as caring for our physical bodies.
Caring for others: By taking care of our health, we can better serve others and fulfill our God-given purpose. When we are healthy, we have more energy and capacity to love and support those around us¹⁰.

Practical Steps to Invest in Your Health

Now, let's get practical! Here are some tangible ways to prioritize your health and potentially save money in the long run:

Schedule regular check-ups: Talk to your doctor about what screenings and preventative care are appropriate for your age and health history. It's like taking your car in for a tune-up to make sure everything is running smoothly¹¹.
Maintain a healthy lifestyle: Eat a balanced diet, exercise regularly, get enough sleep, and manage stress. Remember what 1 Corinthians 6:19-20 says about our bodies being temples? Well, let's treat them like it¹²!
Address health concerns promptly: Don't ignore symptoms or put off seeking medical attention. Early intervention is key to preventing minor issues from becoming major problems¹³.
Research your health insurance options: Understand your coverage and take advantage of preventative care benefits. Many health insurance plans cover preventative services at little or no cost to you¹⁴.
Consider a Health Savings Account (HSA): This tax-advantaged account can help you save for qualified medical expenses. You can contribute pre-tax dollars to an HSA, and withdrawals for qualified medical expenses are tax-free. This can be a great way to save for future healthcare costs and reduce your tax burden.
Partner with your primary care physician: Your primary care physician is your ally in preventative care. They can provide valuable information and guidance on maintaining a healthy lifestyle and preventing disease. They can also help you navigate the healthcare system and make informed decisions about your health¹⁵.

For example, I recently spoke with Dr. Johnson, a trusted physician in our community, and he emphasized the importance of open communication between patients and their doctors. He said, "Patients should feel comfortable discussing their health concerns and lifestyle choices with their physicians. We can work together to develop a personalized preventative care plan that meets their individual needs." ¹⁶

Conclusion: A Wise Investment

Spending more on healthcare now through preventative measures can indeed save you thousands later. It's an investment in your well-being, your financial future, and your ability to live a life that honors God. By prioritizing your health, you're not just taking care of yourself, but also being a good steward of the resources God has given you.

Just like the parable of the talents, where we are called to multiply what we have been given, investing in our health allows us to maximize our potential and live a more abundant life¹⁷. A healthy life is indeed a blessed life, allowing us to serve God and others to the fullest¹⁸.

Remember, friends, taking care of your health is not just common sense; it's a spiritual discipline and a wise financial decision. So, invest in your well-being today, and reap the rewards for years to come!

Works cited

Prevention for a Healthier America - TFAH, accessed January 14, 2025, https://www.tfah.org/report-details/prevention-for-a-healthier-america/
intermountainhealthcare.org, accessed January 14, 2025, https://intermountainhealthcare.org/blogs/how-regularly-seeing-your-primary-care-provider-saves-you-money-in-the-long-run#:~:text=Preventative%20care%20saves%20money,ups%2C%20screenings%2C%20and%20vaccinations.
How preventive care can lower your health care costs | Nebraska Medicine Omaha, NE, accessed January 14, 2025, https://www.nebraskamed.com/health/conditions-and-services/primary-care/how-preventive-care-can-lower-your-health-care-costs
Economic benefits of prevention - The Australian Prevention Partnership Centre, accessed January 14, 2025, https://preventioncentre.org.au/about-prevention/what-are-the-economic-benefits-of-prevention/
Missed Prevention Opportunities - The Healthcare Imperative - NCBI ..., accessed January 14, 2025, https://www.ncbi.nlm.nih.gov/books/NBK53914/
Health Care Industry Insights: Why the Use of Preventive Services Is Still Low - CDC, accessed January 14, 2025, https://www.cdc.gov/pcd/issues/2019/18_0625.htm
27 Best Bible Verses about Health - Inspiring Scripture - Bible Study Tools, accessed January 14, 2025, https://www.biblestudytools.com/topical-verses/bible-verses-about-health/
11 Awesome Stewardship Bible Verses - Art Rainer, accessed January 14, 2025, https://www.artrainer.com/post/11-awesome-stewardship-bible-verses
3 Must-Know Concepts for Christian Stewards - FaithFi, accessed January 14, 2025, https://www.faithfi.com/christian-money-solutions/3-must-know-concepts-for-christian-stewards-5883
58 Bible Verses about Health to Nourish Your Body and Soul ..., accessed January 14, 2025, https://www.biblelyfe.com/blog/bible-verses-about-health
The Importance of Regular Check-ups: A Guide to General Care, accessed January 14, 2025, https://www.fmcdrbarnett.com/better-health-blog/the-importance-of-regular-check-ups-a-guide-to-general-care
The Impact of Personalized Preventive Care on Health Care Quality, Utilization, and Expenditures - PMC, accessed January 14, 2025, https://pmc.ncbi.nlm.nih.gov/articles/PMC5296930/
8 Reasons Why Regular Heath CheckUps Are Important - Medicalport Tunççevik Hospital, accessed January 14, 2025, https://www.medicalporttunccevik.com/en/2015/
Spending on Preventive Services Represents a Small Fraction of Total Health Care Spending, but Costs to Individuals Could Be High without ACA Protection, accessed January 14, 2025, https://healthcostinstitute.org/hcci-originals-dropdown/all-hcci-reports/spending-on-preventive-services-represents-a-small-fraction-of-total-health-care-spending-but-costs-to-individuals-could-be-high-without-aca-protection
Understanding Primary Care Providers' Role in Preventive Health, accessed January 14, 2025, https://www.prime360care.com/blogs/understanding-primary-care-providers-role-in-preventive-health
Health Promotion & Preventive Care - AMA Code of Medical Ethics, accessed January 14, 2025, https://code-medical-ethics.ama-assn.org/ethics-opinions/health-promotion-preventive-care
Six Principles of Christian Stewardship Stewardship Principle #1: God doesn't need your money - Hope Bible Church, accessed January 14, 2025, https://hopebiblechurch.org/wp-content/uploads/2013/08/StewardshipPrinciples.pdf
15 Bible Verse About Being Healthy—God's Path To Wellness - Faithful Finish Lines, accessed January 14, 2025, https://www.faithfulfinishlines.com/bible-verse-about-being-healthy/

Ralph V. Estep, Jr.

Christian Financial Consulting

Ralph V. Estep, Jr. is a highly accomplished professional with a diverse background in finance, accounting, technology, and entrepreneurship. As the principal at Saggio Management Group, Inc., he has demonstrated exceptional leadership and expertise in various roles throughout his career.

Ralph's educational journey began at St. Mark's High School in Newark, Delaware before attending the University of Nebraska where he was an esteemed member of the Cornhusker Marching Band and had the privilege of performing at the Florida Citrus Bowl in Orlando.

Continuing his pursuit of knowledge and excellence, Ralph earned a Bachelor of Science Degree in Accounting from the University of Delaware. He further expanded his academic achievements by obtaining a Master's in Business Administration from Wilmington University.

Throughout his professional journey, Ralph has been recognized for his outstanding accomplishments and commitment to excellence. He is a member of prestigious organizations such as the Golden Key National Honor Society and Beta Gamma Sigma International Business Honor Society.

With an extensive range of professional designations including Licensed Public Accountant (LPA), Accredited Business Accountant (ABA), Accredited Tax Advisor (ATA), Accredited Tax Preparer (ATP), and Internal Revenue Service Registered Tax Preparer (RTRP), Ralph possesses comprehensive expertise in tax preparation and financial management.

Beyond his impressive qualifications, Ralph has actively engaged with various community programs as bo… Read More

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