Health Care Reform, Realized?

Health care costs more in the United States than it does anywhere else in the world. Many Americans don't have insurance at all. Others break their budgets paying for health care. A recent study found that millions of Americans actually put off care for chronic issues. If you haven't confronted this issue personally, chances are someone in your family or circle of friends has.

Against that backdrop, the health care industry surprised many who follow reform efforts this week by offering to put the brakes on health care costs over the next few years. The projected monetary impact: $2 trillion in savings over the next decade. The policy impact: While officials in Washington continue to weigh health care reform, they've now got a lot of financial wiggle room.

Or do they? There's nothing yet concrete about the $2 trillion figure from hospitals, insurers, doctors and pharmaceutical companies floated on Monday—many skeptics have a "I'll believe it when I see it" approach. And health care reform, despite strong support from the American public, is still a knotty, contentious issue, and there will be plenty of debating, bickering and deal-making if President Obama's goal of signing a bill later this year is to be realized.

Still, the gesture by the health care industry is significant.

As health care journalist Jonathan Cohn writes at The New Republic's "The Treatment" blog, these same industry groups fought health care reform the last time it was on the table, in 1994. Now they're sitting at that same table; as Cohn says, "This time, the industry groups aren't promising to control costs as an alternative to reform. They're promising to control costs as part of reform."

Indeed, 15 years ago, health care industry lobbyists rolled out their notorious "Harry and Louise" ads that featured a middle-class couple sitting at its kitchen table fretting over the idea of "government bureaucrats" meddling in their medical issues.

This time around, industry representatives are offering to help—not block—health care reform efforts. Is it because of a desire to help reform along, or because they see a train heading toward them and would rather climb aboard than get run over? Or a combination of both? And, if the result is a revamped system that offers more protection to more Americans, does it matter?

Oh, one more thing. For an idea of just how astronomically big the health care industry is in the United States: $2 trillion represents only about 1.5 percent of the health care spending growth rate in the coming 10 years.

****Provided courtesy of Bob@MSN Health

Can You Afford To Buy?

When you decide to buy a house, one of the hardest things to figure out is how much you can afford. The important thing is only to spend as much as you can comfortably afford.

What Do You Need To Know about Home Loans?

Most people bxorrow money to buy a home. If you take out a home loan, then you will have a monthly mortgage payment. This payment has several components. These parts of a mortgage payment are called PITI – principal, interest, tax and insurance.

Principal. The principal is the loan amount remaining unpaid.

Interest. The interest is the amount charged for borrowing money.

Real estate taxes. The real estate taxes are collected each month by the lender until the annual property tax bill comes due, and then the lender pays the tax bill.

Homeowner’s insurance and mortgage insurance. Lenders often require homeowner’s insurance and mortgage insurance as part of your payment. Homeowner’s insurance provides protection if something major happens to your house such as a fire, and the mortgage insurance protects your lender in case you don’t make your payments.

What Are Other Costs of Home Ownership?
Too often people consider only the monthly mortgage payment when deciding if they can afford to buy a home. Other costs are also very important such as loan costs, new housing expenses, and current living expenses. When you borrow money, a lender may charge fees such as an application fee. Another initial cost can be points.

Points are a one-time charge by the lender to increase the loan yield. A point is one percent of the mortgage loan amount. These are some possible closing costs. Closing costs are expenses (above the property price) paid by the buyer and the seller.

You can’t borrow all the money you need to buy a house. You will need some cash for the closing costs and the down payment. A down payment is a percentage of the home’s purchase price.

The percentage depends on the type of loan you get. Lenders usually require 20 percent down payment for a conventional mortgage. Some lenders will finance for as low as 10 percent down payment, but require the buyer to purchase mortgage insurance. FHA (Federal Housing Authority) and VA (Veterans Administration) financing requires even a smaller percentage down payment.

What are the additional costs you will have with home ownership? Use
Table 1 to list your current housing expenses and to estimate your future housing expenses. For example, what is your utility bill now and will it increase if you buy a new home?

Consider changes in the cost of your insurance, taxes, commute, tools, and fees such as condo fees.

You may want a "reserve fund" to cover initial new home expenses such as decorating, window coverings, furniture, lawn care equipment, and unanticipated repairs. Try not to do any major remodeling during the first year. If you stretch yourself too far and you can’t pay your monthly mortgage payments, you may lose your home.

Don’t forget to keep in mind your non-housing expenses. Non-housing expenses include food, clothing, entertainment, education, car expenses, medical expenses, childcare, savings, etc. These expenses are important to consider as you look at the mortgage payment figures. Can you comfortably afford the monthly mortgage payment if one of your other expenses (such as medical or childcare) increases?

****Provided courtesy of http://urbanext.illinois.edu/housing/afford.html

Seven worthwhile energy-efficient products

There's no shortage of gadgets designed to help you use less energy. Yet some of the most effective energy-efficient products lining store shelves are also the simplest.

The following low-tech items will save energy and money with minimal effort and investment.

1. Power strips can help put an end to vampire power. There's a wide range of choices from simple to sophisticated, but the general concept is the same. If you plug your electronic devices into one and turn it off when you're not using, you'll reduce standby power consumption and save more than $100 a year according to the Natural Resources Defense Council. Some, such as the Smart Strip, have the ability to know when your computer powers down and can then cut power to the peripherals. You can find strips with motion sensors or even a remote control. The Kill A Watt identifies the biggest energy drainers in your home, but try borrowing one from a friend or neighbor since you only need to use it once.

2. Indoor drying racks allow you to air dry your clothing in the winter and in places where hanging clothes to dry outdoors is difficult or even illegal. Abandoning the dryer in the summer can save you $43.60, so imagine how much you'll save if you air-dry your clothing all year round (although even just bypassing the dryer sometimes will save energy and money). While you're at it, wash your clothes in cold water for additional savings.

3. Installing efficient showerheads and faucets will save water and the energy it takes to heat it. The result: You'll spend less on water and electric bills.

4. Compact fluorescent light bulbs use about 75% less energy than incandescent bulbs and last longer so you'll buy fewer bulbs. There's no need to sacrifice quality since some CFLs outperform traditional bulbs. You'll save at least $30 in electricity costs over a bulb's lifetime. Click here to learn about mercury and disposal issues. Environmental Defense Fund offers buying tips and a tool to calculate cost savings.

5. If you use a programmable thermostat properly you can save as much as 15% a year on your heating bill. In the winter, keep your thermostat at 68 to 70 degrees when you're at home or awake (the summer guideline for those with central A/C is 78 degrees). Whether you choose to upgrade your thermostat or not, turn it back (or raise it in the summer) when you're away or asleep.

6. Wrapping your water heater in a "blanket" is an easy way to save about $15 a year. Lower your water heater thermostat to 120 degrees for more painless savings.

7. Sealing large air leaks in your home can save you a bundle. Try installing door sweeps to stop air from escaping from underneath your doors.


****Provided courtesy of Environmental journalist Lori Bongiorno product reviews with Yahoo! Green's users.