How Following Your Doctor’s Advice Can Save You $89,000

Photo by Monkey Business Images / Shutterstock.com

Here’s a relatively easy way to boost your retirement savings: Follow the doctor’s orders.

Actively managing a chronic medical condition can spare you some $89,000 in health care costs over the course of your life, according to a recent report by HealthyCapital, which seeks to help folks stick to health plans so they can reap such benefits.

HealthyCapital CEO Ron Mastrogiovanni explains:

“Patients who follow doctor’s orders will not only save money pre-retirement, but lower medical expenses during retirement because they will be healthier. Also, by choosing to invest, rather than spend, the annual savings, individuals can significantly increase their retirement income.”

The costs of chronic disease

According to the U.S. Centers for Disease Control and Prevention, at least half of American adults have at least one chronic condition. And these diseases account for 7 in 10 deaths and most health care costs in the U.S.

The CDC continues:

“Chronic diseases and conditions — such as heart disease, stroke, cancer, type 2 diabetes, obesity and arthritis — are among the most common, costly, and preventable of all health problems.

For example, HealthyCapital reports that cardiovascular disease — including high blood pressure and high cholesterol — affects about 102.7 million people and is responsible for $318 billion in medical expenses in the U.S. every year. Diabetes, affecting about 30 million people, costs $176 billion a year.

An $89,000 case study

HealthyCapital’s report includes a case study of a 45-year-old man, John, who has had high blood pressure — 150/95 — for five years.

HealthyCapital initially classifies his condition as “average managed,” because John doesn’t always remember to take his medications or follow his suggested diet.

Once John starts adhering to the following medical suggestions, his condition is considered “well managed” instead:

  • Complies with medication directions
  • Exercises 30 minutes per day, five days per week
  • Moderates alcohol consumption
  • Chooses healthy fats
  • Limits sodium consumption
  • Stops smoking (if applicable)

These changes can net John $89,456 in savings over the remainder of his life. HealthyCapital projects:

  • If 45-year-old John spent the rest of his life managing his condition averagely, he’d spend $138,288 on out-of-pocket health care costs pre-retirement and another $51,790 in retirement.
  • If 45-year-old John spent the rest of his life managing his condition well, he’d spend $72,591 pre-retirement and $28,031 in retirement.

What’s your take on this news? Sound off below or on Facebook.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
9 Forgotten Frugal Strategies — and How to Resurrect Them
9 Forgotten Frugal Strategies — and How to Resurrect Them

These time-tested methods can help us live smarter today.

Beware These 5 Common Work-From-Home Scams
Beware These 5 Common Work-From-Home Scams

You can spot scammers and con artists with a little know-how.

Why Half of Retirees Now Owe Taxes on Social Security
Why Half of Retirees Now Owe Taxes on Social Security

Growing numbers of seniors are paying taxes on their Social Security benefits, but you might be able to avoid this fate.

9 Free Things That Used to Cost Us Money
9 Free Things That Used to Cost Us Money

Not everything is getting more expensive.

7 Tricks to Cleaning Your Bathroom in Minutes
7 Tricks to Cleaning Your Bathroom in Minutes

These tips can get your bathroom sparkling with little time and no elbow grease.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
This Gas Station Scam Is Victimizing More Drivers
This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

This Is the Most Popular Age for Claiming Social Security
This Is the Most Popular Age for Claiming Social Security

Both men and women are most likely to start receiving Social Security benefits at this age.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

The 15 Worst States for Retirees in 2020
The 15 Worst States for Retirees in 2020

Based on dozens of metrics tied to affordability, quality of life and health care, these are not ideal places to spend retirement.

Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?
Could You Give Up These 7 Expenses to Save Thousands of Dollars a Year?

You could save more than $30,000 by setting aside these costly expenses for just one year.

6 Things You Should Never Buy at Trader Joe’s
6 Things You Should Never Buy at Trader Joe’s

We love Trader Joe’s for plenty of reasons. But think twice about this handful of products.

3 Ways to Catch the First Presidential Debate Without Cable
3 Ways to Catch the First Presidential Debate Without Cable

You don’t need cable — or even a TV — to watch the first presidential debate on Tuesday.

Don’t Toss These 7 Household Items — Sell Them
Don’t Toss These 7 Household Items — Sell Them

Here’s how to earn cash as you give new life to these unwanted items.

6 Legal Documents Retirees Need — but Don’t Have
6 Legal Documents Retirees Need — but Don’t Have

Few retirees have these documents that are crucial to their golden years — especially during a pandemic.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

11 Household Items That Go Bad — or Become Dangerous
11 Household Items That Go Bad — or Become Dangerous

When you get the impulse to stockpile these everyday items, pay close attention to their expiration dates.

11 Expenses That Quietly Drain Your Wallet
11 Expenses That Quietly Drain Your Wallet

It’s scandalously easy to overspend in these areas of your life.

9 Dumb Ways You Are Ruining Your Home Value
9 Dumb Ways You Are Ruining Your Home Value

Homeowners, beware these mistakes that can drive away potential buyers.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

This Is the Cheapest Place to Buy a Used Car
This Is the Cheapest Place to Buy a Used Car

Looking for a good deal on a set of wheels? This should be your first stop.

10 Things That Really Are Free on Amazon
10 Things That Really Are Free on Amazon

These freebies are available to anyone — no Prime membership necessary.

7 Tips for Building an Emergency Stockpile
7 Tips for Building an Emergency Stockpile

A pandemic or natural disaster could leave you reliant on your existing food supply. Is your pantry prepared?

11 Disgusting Household Items You Should Toss Already
11 Disgusting Household Items You Should Toss Already

Never keep these items past their prime.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.