Coffee heat rising

If I won a million dollars . . .

All right. I confess: I succumbed to the impulse to buy a lottery ticket. A raffle ticket, actually, but the IRS regards it as a kind of lottery. For a hundred bucks, the Health & Wealth raffle gives you a 1 in 18 chance of winning something, most likely a $100 bauble. You get about a 1 in a zillion chance of winning a million bucks. The C-note you toss to the winds lands in the coffers of Barrows Neurological Institute, a world-class hospital specializing in brain and nerve injuries. So it’s far from a total waste.

Go ahead. Click on that link. I dare you to not buy a ticket. Just look at that Mercedes roadster, that stack of cash…hot dang! There are 106 cash prizes ranging from $500 to $1 million. Then there are the cars, which could be resold for hefty amounts. Some are so extravagant that even selling at a deep discount would leave you a nice contribution to the retirement fund: two Mercedes vehicles in one prize, a combined value of $154,000, a Jaguar, a Lexus hybrid. They’re giving away 24 cars plus a motorcycle and several other small contraptions.

There are also a couple of large TV sets that are probably worth a couple thousand. And all those trips. Questionable whether you could sell a Mediterranean cruise, but the contest rules allow you to donate your gift back to Barrows. Obviously, a $30,000 tax deduction would do good things for your finances. Indeed. That’s almost two years’ worth of taxes for me. All very nice. But what I’m going for is that $1 million bag of money. I want the million dollars.

So…let’s indulge our fantasies. What would you do if you won a million bucks? It would translate to about $500,000 net, after taxes were extracted.

Pour moi, five hundred grand would guarantee that I could retire and have enough to support a middle-class lifestyle through the end of my life-no matter how long I do live.

  • I could pay off the Renovation Loan instantly.
  • I’d probably keep my job for another two years, until I can collect Medicare, since I likely can’t get health insurance as an individual. But…that much cash in hand would allow me to take COBRA, which would carry me through 18 months. So I could quit about in December and go on COBRA until I can switch to Medicare.
  • I could sell my house and move to a better neighborhood.
  • I could move to Prescott.
  • I could move to Santa Fe!
  • I could pay off the mortgage on the Investment House and then sell it to my son, collecting principal and interest payments to support myself and then put in my will that the loan is forgiven when I die. This would guarantee that all he puts into it would come back to him as principal, should he decide to move…and then some, if he stays there until die.
  • I could send my son to graduate school.
  • I could give away one of those Mercedes Benzes as a gift on my blog.

Jeeminy. Light a candle to the Goddess!
Are you prepared for the day you win a million dollars? What’s your plan?

Cheap Eats: Cold cucumber soup

I have an inordinate fondness for cold soups, especially in the summertime. This one is addictive. It’s a Middle Eastern concoction called xergis:

You need:
3 cucumbers
3 scallions or 1/2 small onion
1 clove garlic
5 cups good-quality plain yogurt
1 tsp. olive oil (optional)
4 tsp dill weed
1 tsp salt
pepper
blender
large bowl

Mix the ingredients together in a large bowl, and then purée about 1/3 cup at a time in the blender until smooth. Chill. Serve in soup bowls with a sprig of mint or a sprinkling of chopped dill, parsley, or coriander. You also can serve it in glasses as a drink.

The stuff is utterly delicious. As a side benefit, it delivers an enormous thwack of calcium, about 386 mg. per cup. You can cheerfully drink two cups without feeling at all put upon.

Insurance: Never a dull moment

Just got a notice from the Great Desert University that my health insurance plan–the only one that covers my doctor–will be dropped this August. Thank you so much, beloved employer.

Well, I knew it was too good to last. After a long series of health insurance fiascos (including one year when the only provider they offered was so awful that none of my doctors would accept it-one doctor refused to see me at all, even after I offered to pay him out of pocket), the state started self-insuring a couple of years ago. They’ve had an EPO plan run by Schaller-Anderson, which, incredibly, covered all my doctors, including the Mayo Clinic, for a monthly premium of $24. This was a huge improvement over the $220 I was paying for the PPO, which sorta allowed you to go to your choice of doctors but two years ago quit covering the Mayo.

When Aetna acquired Schaller-Anderson a few months back, I thought “Okay…say goodbye to that!” Right on.

So now I’ll either have to find another doctor (which I do not want to do) or once again buy incredibly pricey insurance on the open market. The last time I bought my own insurance, I ended up with an MSA (medical savings account) plan. Though it offered total flexibility and generous coverage, it was very expensive–premiums were about $250 a month, and you had to deposit $1500 a year to a savings account with piratical fees. It’s probably moot, though. At this point in my life, I’d be surprised if I could get health insurance outside a group plan at all.

Other than the Mayo, healthcare providers in this state leave a lot to be desired. When I had acute appendicitis, I almost died while sitting fruitlessly in the waiting room of a much-touted major regional medical center. After sitting there over four hours in exquisite agony without even so much as a triage, I left and got some friends to drive me to the Mayo Clinic’s ER-the EMTs would not take me there, even though it’s no further from my home than the Third-World hospital that offered no medical care. By then the infection was very advanced and my appendix was about to burst. The Mayo’s physicians performed emergency surgery, and the care I received was excellent from beginning to end. And “end” could have been the operative word: for older adults, a burst appendix is a life-threatening event with a much higher mortality rate than for younger victims.

I want my choice of doctors, and I want to be able to see the doctor I’ve been seeing for the past 40 years, who happens to practice at the Mayo. When HMOs first started to take over the healthcare industry in this country, he saw the proverbial handwriting on the wall. Coincidentally, the Mayo opened its Scottsdale clinic about then. He had been trained at the Mayo, and as soon as he could he rejoined that organization. It’s a hellacious long drive for me to get to his office (the hospital is much closer), but I must say that the care I’ve received by and large has been worth it.

he state, of course, would like to herd us all into HMOs. I will pay out of pocket before I go into one of those things.

My mother died hideously in the “care” (a term best used ironically) of the first HMO organized in Arizona. As it developed, the doctors had a financial interest in the operation: if it made money, so did they; if it lost money, they lost money. So, it ran powerfully contrary to their personal interest to diagnose a patient with an expensive terminal illness. They simply refused to admit the obvious–that she had cancer. And it was so obvious, my cat could have diagnosed it. But the problem was, if they allowed that she had cancer, they would have had to treat her, and that would have cost the HMO a ton of money. So they denied she was sick at all-the day before they were forced by my father’s demands and the implicit threat of a lawsuit to open her up for an exploratory, her doctor told me and my father that that my eminently sane and practical mother needed a psychiatrist. When he did find her (predictably) full of cancer, he dropped her cold. They stopped providing doctors to see her or to advise my father and me on her care. I had to openly threaten them with my lawyers–repeatedly!–to get even the most basic nursing care for her.

She would have died anyway, but she didn’t have to suffer the way she did. Thirty years ago, there wasn’t much they could do for cancer, but they did have pain-killers. Even had they refused to treat her, they could at least have given her morphine, so she didn’t lie in bed suffering the tortures of the damned through the last weeks and months of her life.

After that and some other amazing experiences in the American healthcare system, I’m very picky about the kind of insurance coverage I get. I’m willing to pay to the max to get coverage that will allow me to go to any doctor I choose and that will pick up the tab for the astronomical bills presented by the kinds of illnesses one is prone to later in life.

So, this time around I’m going to look at concierge practices, where you pay a fee upfront in exchange for getting a doctor’s attention. In theory, you can get appointments promptly and the doctor schedules more than 10 or 15 minutes to talk to you. You still have to keep your insurance, but you might be able to get a lower-cost plan or even just a major medical plan. The annual fee is usually around $1,500…but that’s a far cry from the $2,640 a year I was paying for the PPO that canceled my doctor.

There are a number of drawbacks to concierge medicine, one of which is the obvious social issue: it pushes the practice of medicine even further toward elitism. The rich get care; the rest of us take what we can scrounge up, which often ain’t much. In my part of the country, precious few doctors subscribe to this system, and it’s hard to know what their qualifications might be. Or disqualifications. In the MDVIP network, for example, most of the physician members in my area practice at John C. Lincoln hospital, a scary affair whose Dickensian ER is…well, overworked, shall we say. That’s where a doctor decided, after a cursory exam and no tests, that the appendicitis just starting to make itself known must be inflammatory bowel syndrome and prescribed a drug whose manufacturer’s label said, loud and clear, that it was contraindicated for women with my symptoms. I can hardly wait to go back there!

Do I demand “Cadillac care”? You bet. It’s my life and my health we’re talking about here. And in America today, “competent” care is defined as “Cadillac care.”

By and large the offerings are abysmal. In Arizona, for example, only one hospital has been rated by HealthGrades as truly excellent: the Mayo. John and Cindy McCain go to the Mayo. You and I don’t, because our insurance won’t cover it. Three hospitals were rated as “distinguished” (a cut below “excellent”) for their clinical practice: the Mayo, Scottsdale Healthcare-Osborn, and Del E. Webb in Sun City. Only one of those is even remotely within driving distance of the central part of the city, where I live. In the entire state, just three landed “distinguished” ratings for patient safety: the Mayo, Yavapai Regional Medical Center in Prescott, and Yuma Regional Medical Center.

I guess I could get bare-bones major medical coverage and then pay my doctor at the Mayo out of pocket. In only two years I’ll be eligible for Medicare, which does cover the Mayo. If I raid my savings and pay off the Renovation Loan now-meaning I won’t be buying a car anytime in the near future-I could take the $220 a month I would be paying for the PPO and set it aside to pay medical bills. It’s awfully risky, though…all it would take is a heart attack or a tumor to bankrupt me once and for all.

I also could sign up for the flex plan, which in the past has been a bit of a waste. I sure do hate to cut my take-home pay drastically, given that it provides me a grand $29 of play in my budget. Contrary to claims, I’ve never found the flex plan did a thing to save on income taxes; every time I’ve subscribed, it just meant cash gouged out of take-home pay that I was forced to spend on medical stuff whether I needed it or not. This has led to many unnecessary doctor’s visits and purchases of redundant pairs of glasses.

I’m thankful that I can afford to pony up $1,500 for access to a doctor, if indeed I decide to do so. But…am I the only person who thinks that this is a damned ridiculous pass for the alleged greatest nation on earth? If America is so great, how come we can’t provide decent health care for all our citizens, at an affordable price?

1 comment left on iWeb site

TM

I agree. My father has recently had some major health problems and was transfered from a Mesa hospital to Scottsdale-Osborn, one on the “distinguished” list. He had to remain in the hospital for 10 days and the discrepancy in care was startling. Even the food in Scottsdale was better. In our society, unfortunately, the almighty dollar rules all…even for products and services such as healthcare.

Challenge: Five midsummer financial goals

Having reviewed my 2008 New Year’s to-do list, I’ve decided to come up with five new goals or ideas to improve my financial life, here in midsummer 2008. Then we’ll see, come the end of the year, whether any of these bear fruit. I’m putting a reminder in Outlook to check back with this post and review whatever progress happens. Not only that, but I’m issuing a challenge to readers and other bloggers to do the same!

Here are my Midsummer Day’s Dreams:

  • Continue driving thoughtfully and conserving gas, even if fuel prices drop.
  • Build the new business with my young business partner and try to meet 1/2 of our year-one revenue goal, which for each of us would be $6,000.
  • Start and monetize a new blog in connection with the new business.
  • Monetize Funny about Money.
  • On December 31, apply the accumulated Renovation Loan fund to pay down principal by at least 50%.

I hereby tag the following bloggers with a challenge to come up with five midsummer goals or ideas to improve your finances between now and the end of 2008:

I’ll let you know when their responses appear. Meanwhile, if you put up your own midsummer resolutions on your site, please let me know so I can link to yours. Or just leave your list in a comment, below.

Moments of Fame

Jesse at You Need a Budget is hosting the 163rd Carnival of Personal finance. It’s vast! And it’s filled with interesting posts. That’s why I was especially flattered to see Funny’s rant on usury, the credit card industry, and the need for some sensible regulation (with teeth!) selected as an editor’s pick. If I didn’t have to go to work, I’d spend the entire day reading posts…starting with another editor’s pick, “I Quit!” That’s right: Madison at My Dollar Plan will soon have plenty of time to read a whole CoPF, because she listed all the priorities in her life and found her job fell off the bottom. Speaking of jobs, Andy at Saving to Invest offers 21 signs that you’re losing interest in your job (is obsessive playing of Spider Solitaire one of them?). Since I need to get ready to go to work just now, you’ll need to visit the Carnival and read on!