Exercise to Stay Well
Senior
Citizens Can Increase Financial Well-Being by Increasing Health
Well-Being
Nov.
5, 2003 - Would senior citizens become physically active if they knew it
would save them on average more than $2,200 per year in healthcare
costs? Colin Milner, CEO of the world's largest senior fitness
association, the International Council on Active Aging, believes this
finding and other data linking health and the preservation of wealth
could provide just the incentive people need to get off their couches.
According to Milner, the problem is "few people are aware that what's
good for their health is good for their wealth."
Milner is supported by research from the World Health Organization
showing that older people spend more of their income on health than any
other need or activity. For example, the average annual healthcare costs
for someone with a chronic health condition are $6,032 - five times
higher than for someone without such an issue, says the Partnership for
Solutions, a project of Johns Hopkins University and the Robert Wood
Johnson Foundation.
The
message of health and wealth going hand in hand is more timely than
ever. Based on the Wilshire 5000 Index, which measures U.S. stock market
worth, older Americans have lost $7.6 trillion in market value on their
stock portfolios since March 2000. This figure represents a 48% loss
from peak value. Increasing health and insurance costs compound the
financial insecurity for older adults. One in five companies surveyed
for the Kaiser/Hewitt 2002 Family Retiree Health Survey planned to deny
workers future retiree health benefits because of rising costs. And last
month the Social Security Administration announced that beneficiaries
would get only a 2.1% cost-of-living increase next year.
As
the cost of healthcare rises and the wealth of older adults diminishes,
substantial numbers of Baby Boomers will continue working into their 70s
or later, says a recent AARP survey. The main reason given by nearly 45%
of respondents who intend to keep working is the need for money. Concern
about health insurance is a close second.
But
many Baby Boomers may develop health problems that keep them from
working. One solution is for midlife and older adults to embrace
physical activity to help prevent illness and save healthcare costs.
Here's the bottom line: the healthier people are, the more likely they
are to retain their wealth. Maybe it's time we start to make the case
for active lifestyles based on people's financial well-being.
Think about it. Sedentary adults can save on average $2,200 per year in
healthcare costs, as mentioned previously, by simply starting to
exercise moderately for just 90 minutes per week. That was the
conclusion of a recent study by HealthPartners Research Foundation, a
subsidiary of the Minnesota- based HealthPartners, a nonprofit group of
healthcare providers. Brian Martinson, the foundation's principal
investigator, says, "This is the first time that the impact of changes
in physical activity has been associated with changes in healthcare
costs." A fact not lost on those who look at the dollars and cents of
healthcare.
A
report by the American Association of Health Plans (AAHP) states that
"by intervening beforehand, managed-care companies can help with seven
common conditions in older adults: falls, medication complications, poor
nutrition, physical inactivity, depression, dementia and urinary
incontinence. These interventions are often simple to implement and
could greatly improve the quality of life for older Americans. At the
same time, insurance companies could save money." This is a gross
understatement, when inactivity costs American taxpayers $76.6 billion
annually.
As a
society, we have the ability to help individuals, both physically and
financially, as they age. Perhaps it's time we let them know. Good
health preserves wealth. Now that's a bottom line that could grab
attention.
About the International Council on Active Aging (ICAA)
The
ICAA is the world's largest organization dedicated to changing the way
we age by uniting and working with professionals in the retirement,
assisted living, fitness, recreation, rehabilitation and wellness
fields. It connects a community of like-minded professionals who share
the goals of changing society's perceptions of aging and improving the
quality of life for aging Baby Boomers and older adults within the six
dimensions of wellness. The council supports these professionals with
education, information, resources and tools, so they can achieve optimal
success with this growing market.
-
For information
about the ICAA or aging-related issues, contact:
-
Colin Milner, CEO
-
International
Council on Active Aging
-
Toll-free:
866-335-9777 (in North America)
-
Telephone:
604-734-4466
-
Cell: 604-763-4595
-
colinmilner@icaa.cc
-
www.icaa.cc
|
