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Volume 6, Issue 2 & 3 45
assessment tools such as life expectancy calculators. Links to
several calculators can be found in Module 1B of the Purdue
Cooperative Extension Planning for a Secure Retirement Web site at
http://www.ces.purdue.edu/retirement/.
10. Seek out research that integrates health and financial topics. For
example, sharing articles about studies of personality characteristics
associated with changes in health and financial practices or the
financial savings that can result from avoiding the costs of chronic
conditions such as diabetes could be a “value-added” service for
clients. As Everett and Anthony (2005, p. 79), in their article about
health care costs, note, “the field of financial planning research and
modeling can help proactive individuals make better decisions and
help others become more proactive.”
11. Keep current on the topics discussed above with frequent changes
in costs and benefits (e.g., consumer driven health care, health
savings accounts, and Medicare). Form collaborative relationships
with human service providers such the local SHIP office.
12. Consider adding value to your practice through health financerelated
services. For example, financial planners can both assist their
clients and charge billable hours for researching Medigap or Part D
Medicare plans and comparing price quotes and covered prescriptions.
Planning Strategies
References
Andrews, M. (2004, Dec.). Get healthy, get wealthy. Money, 33(12), 57.
Cauchon, D. (2006, December 18). States struggle to cover retirees. USA
Today, p. A1.
Collins, S.R., Schoen, C., Kriss, J.L., Doty, M.M., & Mahato, B. (2006, May).
Rite of passage? Why young adults become uninsured and how new
policies can help. The Commonwealth Fund, Issue Brief, Publication 649,
Vol. 20. Retrieved April 5, 2007 from http://www.cmwf.org/usr_doc/
Collins_riteofpassage2006_649_ib.pdf.
Conley, D. & Glauber, R. (2005, May). Gender, body mass, and economic
status. Cambridge, MA: National Bureau of Economic Research, Inc.
Retrieved May 19, 2006 from http://papers.nber.org/papers/W11343.
DeBaise, C. (2007, March 12). Unhealthy strategy? The Wall Street Journal, p.
R3, R6.