Responses to My Clients' Questions about the Healthcare Reform Act
I have had several clients ask me what I think about the Healthcare Reform Act and how it will affect all the work I do with them to help get their finances under control.
They get very distressed after working with me on applying Money Mastery principles and changing their whole life around to a place where they finally feel like they’re getting ahead when they hear about the nonsense of such acts as the Healthcare Reform deal.
What galls me is that it’s pretty hard for me to comfort them and tell them it won’t affect their bottom line when I read what I did in a recent article in National Underwriters: "Regarding the Healthcare Bill, the congressional budget office estimated $54 billion to be saved by implementing malpractice tort reform, but the authors of the bill have [somehow] left [tort reform] out of it. So there are no such reforms in the bill."
So, to summarize, there isn’t going to be any tort reform. Therefore, there is not going to be any savings of $54 billion. As it's going right now, healthcare accounts for 17% of the entire economy. Within the next few years, it will account for over 20%, one-fifth of the U.S. economy and with no chance to reform tort and limit liability, this whole healthcare fiasco is going to cost all of us a bundle.
My best advice to my clients when they realize what a mess they are forced to be a part of is to micro-focus down on their own financial situation even further. If their spending is under control and they have eliminated all their debt within the 9 years that we teach them to do, then they will have better cash flow and passive income to work with in offsetting the effect that such reforms will have on the economy. I also strongly recommend that they have liquid funds available for their own health issues, so that when they end up paying for everyone’s else’s health problems through the trickle down taxes and other costs that will be absorbed by them through this healthcare mess, that they will still have extra money to care for themselves. If we are in control personally, it shouldn’t matter what happens to the economy, to the cost of living, prices, inflation, or anything, we will adjust and have money to spare.