Tag Archives: health

Has the Low-Fat Diet Myth been Busted?

October 27, 2013

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saturated fatsYou may be surprised to learn that the popular wisdom advocating the avoidance of fat in our diet has actually contributed to heart disease rather than reducing it.
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According to experts such as cardiologist, Aseem Malhotra and David Haslam, PhD and Chair of Britain’s National Obesity Forum, the standard advice of the past four decades to avoid all saturated fat has been the most tremendous medical error of recent times. In fact, experts say that this advice has actually caused many people to develop the risk of cardiovascular disease leading to incorrect prescription of statin drugs. [...]

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European Scientists Insist GMO Debate not over Yet

October 25, 2013

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European unionThe European Network of Scientists for Social and Environmental Responsibility has come out to strongly criticize the assertion that genetically modified crops are now safe. This is after the biotech giants Syngenta and Monsanto were awarded the 2013 World Food Prize.

The coalition brings together over 90 academics, scientists and physicians. In a statement, the network seeks to address widespread claims in circulation purporting that the GMO debate is now over.

The statement quotes a number of recent studies which have suggested that genetically modified foods are either allergic or toxic. The scientists also assert that there has not been adequate testing of GMOs to warrant any definitive claims about their safety.

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Health Insurance Tips for the Self-Employed

September 8, 2013

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self-employedBeing self-employed has lots of perks. You get to choose your own hours, hire whomever you want, and be your own boss. The downside is that your job doesn’t provide health insurance.  And if you own a small business, you’re probably too busy to even think about health insurance!

Most self-employed individuals just don’t have health insurance. The last thing you want is for a medical emergency to impede your flourishing new business. You need to have a backup plan in case of an emergency that involves you, your family, or injuries that may put your business at risk.

If you are currently uninsured and looking for health insurance, make sure to shop around first and consider all your options. Ask other business owners for advice. You can use the Internet to compare rates and find trusted licensed agents (like eHealthInsurance.com).

Assistance for workers who are retrenched or in career transition

If your self-employment stemmed from being laid off, there is another option available to you. COBRA (Consolidated Omnibus Budget Reconciliation Act) is a federal program that allows individuals to temporarily extend the insurance they had through previous employment (at their own cost). The federal government offers a 65% subsidy for COBRA premiums, making this a great option for many. COBRA is most attractive to those with pre-existing medical conditions that make it hard for them to qualify for coverage in other programs.

Look out for rate guarantees and tax deductions

When you decide to buy private health insurance, remember that the insurance company may increase your monthly premiums once in awhile. To protect yourself from this trick, look for a “rate guarantee.” Licensed health insurance agents can give you advice on which company to use and help you understand all the little details. Some companies offer to lock in your rate for a certain period of time if you pay a “small fee” each month. Do the math before you sign to ensure that you are actually saving money.

Some states allow qualified self-employed individuals to deduct health insurance premiums on their federal tax returns. There are rules to follow – make sure to ask a tax professional if you have any questions. Remember that you can’t deduct any money during any period of time in which you were eligible to participate in a health insurance plan sponsored by another employer.  A tax professional can also teach you about all the different types of self-employment statuses in your state and the associated tax implications.

Health Savings Account

A Health Savings Account (HSA) is a good idea for many self-employed individuals. This account is set up with an HSA-eligible health insurance program. Compared to other plans, HSAs usually have high deductibles and low monthly premiums. With an HSA, you can deposit some of your pre-tax income into a savings account so that it can earn tax-free interest. You can use then that money to pay for medical expenses like copayments and deductibles. The money you don’t use builds up tax-free year by year.

No matter what type of health insurance you end up purchasing, make sure to speak with a health insurance agent and a tax professional so that you save as much money as possible. With a good health insurance program and peace of mind, you will have more time to focus on what’s really important: your business.

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