Seniors fitness can help
save thousands of dollars
VANCOUVER, B.C.--Would people 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.