No End To Rising Health Care Costs
Everyone knows the cost of health care is rising every year with no end in site. Many families are burdened with premiums that are eating up a large portion of their budget. Those with health insurance plans through work are seeing their out of pocket costs grow. Some employees are even paying more for benefits at work then they would on their own.A RAND Corp study, released in September of 2011, examined the health care an the average American family’s budget from 1999 to 2009. While the average family saw a 30% increase in their income, much of that was wiped out by greater gains in the cost of medical care. Inflation and higher taxes further decimated the gains.They found that monthly premiums for health insurance grew by 128% over the decade studied. This is well beyond the rate of inflation. Prices on all goods tend to go up over time due to the devaluation of currency called inflation. But when a price for a good goes up faster then inflation, it becomes relatively more expensive then other goods in the economy. This is precisely what is happening with health care. When people are forced to spend relatively more on a good, they feel they are taking a step backward in terms of the living standard.Making matters worse, many people who receive their health benefits through their employer are seeing lower wage gains. An employer has to take the total cost of an employee into account, and that includes what the employer spends on health benefits. When health care costs increase for the employer, they have actually increased the amount they spend per employee, only it doesn’t feel that way to the worker. The worker is indeed getting a raise, it is just going directly to their health care costs. As health care costs for employers continue to rise, it will put downward pressure on wages.Health care costs are going up for a variety of reasons. First and foremost, patients now have access to cutting edge – and expensive – medical procedures that were not available before. While these procedures extend people’s lives and well being, they are very expensive and have to be paid for. Additionally, with few patients paying the direct cost of medical care, rather paying their insurance company, the market for medical care becomes distorted.Another reason for the recent surge in health care costs is the recent Affordable Care Act. One of the new requirements is that employer plans now cover children up to the age of 26. While that may help provide insurance to young adults, it comes at a cost. A survey by the Kaiser Family foundation found that the cost for premiums on employer heath insurance plans increased by 9% in 2010. The increase in premiums has put even more downward pressure on wages during the weak economy.Many employers are now putting some, if not all, of the cost of health care on to their employees. Many workers are now paying part of the monthly premium and often a large deductible as part of their plan. Often times, if they are young and have no pre-existing conditions, they can purchase private health insurance at a lower price then they are paying for their work plan.There is no end in sight to rising health care costs. Medical advances will continue, the American population is aging, and reforms in Washington do not seem likely to help reduce the cost of health care.
Alternative Medicine: What Is It?
What is alternative medicine? It is a phrase that has been tossed around more and more in the media, the bookstores, and increasingly, the doctor’s office, but how often does anyone say what alternative medicine is?Theoretically, alternative medicine is any form of medicine that does not fit with in the scientific framework of western medicine. Once a form of medicine has been proven scientifically effective, and a theory has been determined to explain in the language of western medicine why it is effective, it should no longer be considered alternativeUnfortunately, after the theory comes the politics. In reality, in the United States, alternative medicine is any form of medicine that has not been accepted as scientifically valid by the American Medical Association and the United States Government. In other countries different official bodies will determine what is and is not alternative medicine. In the United States, massage is alternative medicine. In Canada massage is conventional medicine, and as such, highly regulated.Would you believe that according the US government’s National Center for Complementary and Alternative Medicine, vitamins are a complementary or alternative medicine (depending on how they are used) that have not yet been proven to have any greater effect on the human body then a placebo? Personally, I’d like to know if they would like to be treated for scurvy with a placebo. I’ll stick with vitamin C. There are theoretical uses for vitamins that have not yet been fully proven, but that does not make the proven effects any less scientifically valid.At the same time, just because someone claims what they offer is medicine does not make it true. Herbal supplements are not regulated, and may not fully disclose their ingredients. They certainly will not tell you about any dangerous interaction with your heart medication!Of course, you can ask an expert, but keep in mind that there are many kinds of alternative medicine, an acupuncturist is not necessarily trained in herbs, and your primary care physician probably won’t be trained in any of them.If you are interested in using alternative medicine, either for a specific problem, or simply improve your overall health, it’s probably best to first research what kinds of alternative medicine you are interested in, and speak with you doctor about whether or not she will be willing to work with an alternative medicine practitioner. Then find a practitioner who has had training in that specific area of alternative medicine. Most forms of alternative medicine are not licensed in the United States, so ask where they went to school, and how long they have been practicing. Then they can work with your doctor to make sure you get the care you need, without any unexpected side effects.Some forms of alternative medicine that might be worth looking into are:Oriental medicine: Oriental medicine is the only form of alternative medicine that is truly comparably to western medicine as a complete system of medicine. Oriental medicine is based on several theories developed thousands of years ago and first elaborated on in the Yellow Emperor’s Classic, between three and five thousand years ago. Oriental medicine includes the practices of massage, acupuncture, herbal therapy, qi gong, and several others. Tradition Chinese Medicine is a variant of oriental medicine specific to China. It is the only variant of oriental medicine the can be found with relative ease in the United States. In many parts of Asia, oriental medicine is still considered the standard of medical care and western medicine is ‘alternative.’Herbal therapy: Herbal therapy is probably the most common form of alternative medicine found in the United States, and quite possibly one of the riskiest. While most of the conventional medicines doctors prescribe today were derived from herbs, the herbal supplements commonly on sale have no common dosages, mat contain fillers, and will rarely warn of side effects. While herbs can be used to treat everything that medication can, and possibly quite a bit more, make sure you speak with a trained herbalist before taking any. They can tell you what dosage is safe, what suppliers are worth using, and any potential side effects.Homeopathy: Homeopathy was developed in the 1800′s by two doctors who noticed that quinine, the only medicine capable of treated malaria, caused symptoms of malaria in healthy people who were given it. They theorized that like would cure like, so caffeine which normally causes wakefulness, would be used to help someone who was not sleeping through the night, sleep better. Homeopathy is probably the only alternative medicine that is safe to try without speaking with an expert, because the active substance is so dilute that it is not possible to over dose, or incur side effects on the amounts in the local health food store, never mind the few bottles you would keep in your home. At the same time, it is still best to consult a homeopath to be sure that what your taking will work for what you need.Massage: Massage is the use of hands or tools to manipulate the muscles and tendons. The two most common uses of massage are to ease aches and pains, and for stress relief. While there are many conditions that massage will obviously not help with (diabetes, for instance), there are many that it is surprisingly effective on, such as eating disorders, fibromyalgia, and carpal tunnel syndrome. In addition, almost any muscular injury can be treated with massage to prevent scar build up, speed healing, and increase a restricted range of motion. There are many different forms of massage therapy, including Swedish Massage, Deep Tissue Massage, Pre-Natal Massage, Shiatsu, Thai Massage, Lomi Lomi, Medical Massage, Chair Massage, Aromatherapy Massage and Hot Stone Massage. If you go to a massage therapist for a medical condition, make sure they are trained in Medical Massage. Some states have licensing programs for massage therapists now, as do most European countries. If you live in an area that has licensing, make sure the therapist you go to is licensed.Other forms of alternative medicine include: energetic healing, aromatherapy, Rolfing, cranial-sacral therapy, and most forms of holistic medicine.
Crypto Currency Vs Fiat Currency
Crypto currency vs. Fiat currency
Are you aware of the fiat currencies and the crypto currencies? They both are currencies in one form or the other and are open for public use across the world. But they are both different and distinct in their own ways. There is always one group that favors the use of cryptos, while the other has a soft corner for the fiat currencies.
In cashless society- crypto money play a huge role
If you have a look at the market of the 1970s and 1980s, you will find that the cash played the dominant role. But, with the change in the technology, electronic transactions have become the usual norm. Today, more and more people are influenced in becoming the cashless society. With the progress towards the cashless society, cryptocurrencies have a big role to play.
Crypto currency and fiat currency are always at loggerheads
Cryptocurrency and fiat currency are popular types of digital currency, especially when it is about an online transaction. They both are currencies currently in use in the market but have some differences in them. There is a hell lot of hypes that you will hear on a daily basis comparing the crypto money and the fiat money. This article will highlight the difference between the two in a more comprehensive and clear manner.
Differentiating in what the currencies stand for
Before going for the difference between the two, you must understand what do they stand for and how are they are defined.
The fiat currency is a legal tender that has the support of the central government, and it operates in the physical form. For instance, US dollars, British Pounds, Euro etc. On the other hand, the crypto currency is a non-legal tender, and doesn’t have any backup from the central government or bank.
Hence, the difference between crypto currency and fiat currency is noted as follows:
• Crypto-currencies are decentralized and global in nature. There are no one entity or government that controls the currency with their laws and regulations. The Fiat currency is centralized, under the control of the laws and regulations of the banks and government.
• Crypto-currencies have their existence only in the digital domain. On the other hand, you will find that the fiat currencies have a tangible and physical existence.
• There is a limited supply of crypto-currencies with a maximum set of them getting supplied in the market. Whereas, the fiat money has an unlimited supply as the government and bank are entitled to produce coins and paper money whenever the situation is required.
• The Bitcoin and other crypto type currencies are created by the computers, while the fiat currencies are issued by the local government and the banks.
• Cryptocurrencies are presented as the public and private code pieces. On the other hand, the fiat currencies are presented in the form of coins and paper money.
• The value of the crypto currencies is not recognized by the supply and demand of the market. Whereas, the fiat currency value is determined by the market regulations of supply and demand.
The different types of crypto and fiat currencies
In the last one decade, the popularity of crypto type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first introduced, and years after several other types of crypto currencies have emerged. Starting from Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there is a plethora of them. On the other hand, the fiat currency has a rich and ancient roots, with the Great British Pound, that dates back to 775 AD. It is considered as the oldest currency in the world that is still in use.
The differences in the anonymity between the two currencies
When you are using the fiat currencies, you need to undergo a user identification or verification process. You are asked to upload a recent picture of yourself and some of the required documents to be issued as per the public authorities. You don’t need to undergo any of the required processes with the crypto currencies. Though your personal information and confidential details don’t get public, but all your transactions are recorded and tracked in both the fiat and the crypto currencies.
Fiat currency vs crypto currency: transparency level
• The transparency level with the crypto type currencies are considered to be more. This is because the revenue streams are displayed in a public chain. Everyone can witness their own and others’ transactions.
• The fiat or govt. currencies are not transparent, as there are not public chains to see the revenue streams of the people.
A comparative historical roots
If you compare the crypto money with that of its counterpart, fiat or government currency, you will find that their existence and creation brings the difference. The Fiat or government currency, dates back its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by the people all over.
On the other hand, the crypto coin was perhaps first introduced only a decade ago, with the introduction of Bitcoin in 2009. The challenge that the Bitcoin and other crypto currencies face is catching up with the immense popularity and increasing fan base of the fiat currency. Crypto currency, is no doubt gaining importance and popularity in the economic market, but it has still not been accepted widely in the society as the fiat currency.
A comparative history of the two currencies:
• It was in the 11th century, when the Chinese Song dynasty was perhaps the first one to issue the paper money. It was not allowed to exchange with valuables like gold and silver or silk.
• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a combat for the shortages in gold.
• 1971, was the year, when the fiat currency received a worldwide recognition. President Nixon introduced it in order to eliminate the dollar pegging system to gold.
• It was in 1998, when the idea of an anonymous electronic cash system emerged by Wei Dai. Bitgold-the very first crypto currency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.
• In 2009, Bitcoin was introduced in the market, that became the first crypto currency that was accepted across the globe. In 2011 and after, a series of several other crypto currencies were introduced. Some of the popular ones include, Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and so on.
The traits of both the currencies
The potential of the crypto type currencies and fiat currencies, accessing their traits is important. You will find that in some of the criteria, Bitcoin and other crypto currency is superior than the fiat or government currency, and in some cases, the latter surpasses. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.
Let us compare their traits with respect to certain factors.
• Both the crypto coins and fiat type currencies are interchangeable in nature.
• As per the portability is concerned both the currencies secure more or less the same position.
• With respect to the non consumable criteria, crypto currency and fiat type currency have the equal status.
• Crypto type currencies have high durability as compared to the fiat-currencies that have moderate level of durability.
• Both the crypto or virtual currencies and the fiat or government currencies ensure secure and safeguarded transactions and exchange.
• Crypto or digital currencies are highly divisible in nature. On the other hand, the fiat type currencies are moderately divisible.
• In terms of the transaction process, the crypto currencies are easy and hassle free. Whereas, on the other hand, the traction process associated with the fiat currencies are easy, but not like the cryptos.
• The crypto based currencies are decentralized and global in nature, unlike the fiat currencies that are centralized and functions under the laws and regulations of the government.
• The crypto based currencies have high scarcity, where as, the fiat currencies are unlimited as the government can issue coins and paper money whenever there is a need.
• The crypto based currencies are based on mathematical algorithms, and are programmable. The fiat currencies are not at all programmable.
• The fiat currencies are sovereign in nature, while the crypto currencies are not.
The process of the functioning of the currencies
You can find the significant differences between the crypto or digital currencies and the fiat currencies with the way they both operate and the transaction process that take place. They are contrasting in nature. The transfer of money using the Bitcoin is very quick, and you absolutely don’t need any third party association.
On the other hand, if you are involved with the money exchange using Fiat type currency, a mobile wallet is in use. You can exchange an amount of e-money that gets transferred into the equal e-value amount. Both the fiat and the crypto currencies enable you to purchase everything that you desire. But the processes involved are absolutely distinct from each other.
Depending on the things you purchase, you will find that one currency form is better than the other. This is absolutely your choice.
Is Bitcoin, a crypto currency better than the fiat-currency?
The long term benefits and the capability of the Bitcoins is still not established. But it has been predicted by the crypto currency gurus and experts, that they will go a long way, especially revolutionizing the way the online transactions are done. In the current market, the Bitcoin is mainly included in the online casinos and the gambling, but it is not limited to it.
Furthermore, when you compare the fiat currencies, the Bitcoin allows you to seize the power and authority from the banks and the government since it is not controlled. The cryptography based currency has the capability to create or come up with the free market capitals. Fiat currencies are affected by the inflation and the changes in the market, unlike the crypto based currencies. Such aspects make individuals believe that cryptograph based currencies will soon take over the mainstream currencies and bring a transformation in the way the money is used.
Why is Bitcoins considered to be a better aspect than the fiat type currencies?
• Bitcoin gives you the opportunity to re-create a free market capitalism.
• The power of controlling the money is absolutely with the individuals, and not with the banks like the fiat type currencies.
• When there is an inflation, the Bitcoin is not affected. But the Fiat type currency will be easier to lose and get affected by it.
• The Bitcoin currency is easy easier to exchange and transfer as compared to the fiat or government currencies.
• The transaction fees involved with the Bitcoin are way cheaper and easily affordable.
Crypto currencies seem to be a favorable option among the people
The fiat type currencies are the centralized and legal way of exchanging money. But, the crypto currencies have acquired immense popularity in the past few years. There will never be anyone who would act as a middle man, like the case with the banks. Moreover, the cryptos are way cheaper and less expensive that the conventional fiat currencies.
Send money anywhere directly without waiting for the bank’s approval
You can send money to anyone in the world directly, and it is super fast. The money gets cleared within a few minutes time. You don’t have to wait for the traditional clearing and verification processes of the banking systems, which might take up to several days to get a clearance. Since it is decentralized and doesn’t come under the law and regulations of the government, nobody has any power to do anything with your account.
The blockchain technology has a very big role to play
Thanks to the crypto currencies, that gives us the power and the authority to become our very own bank, and take control over our finances. It is because of the blockchain technology that offers a higher level of sophistication while dealing with the finances. In fact, there are some mainstream financial industries that have started incorporating the idea of the technology.