Finance Tip of the Quarter

Guard Your Health

 

Guard your health.  You might find it hard to pay a monthly insurance premium, but consider your preparation for an unforeseen medical emergency which leads to an ambulance pick up and a visit to the emergency room which can cost thousands. In the long run you actually save money with health insurance.  You can save money by shopping around for the best rates. Be sure to take care of your health as it runs close to your finances…

10 Tax Time IRS Tips
The deadline to file your 2016 tax returns and pay any taxes due is Tuesday April 18th, 2017. This year, the usual April 15 deadline falls on Saturday; and Emancipation Day, a D.C. holiday, is being observed on Monday, April 17.

Courtesy the IRS, here are 10 tax-time IRS tips to consider:

(1)    Gather Records. Good recordkeeping is important. It helps to ensure that nothing gets overlooked. Records such as receipts and cancelled checks also provide expense documentation.

(2)    Use IRS Online Tools. The IRS has many useful online tools. The Interactive Tax Assistant tool provides answers to many tax questions. It gives the same answers that an IRS representative would give over the phone.

(3)    File Electronically. Most taxpayers file electronically these days. It offers ease and convenience. The tax software guides people through the entire process. There are no forms to fill out. Electronic filing is also a more accurate way to file.

(4)    Use IRS Free File. Free File is available only on IRS.gov. Taxpayers earning $64,000 or less last year can use free name-brand tax software to file a federal tax return. Free File Fillable Forms, an electronic version of IRS paper forms, is available for those who earned more than $64,000. People can use Free File to get an automatic six-month extension to file. An extension to file a tax return, however, is not an extension to pay any taxes owed. April 18 is still the deadline for any taxes owed.

Taxpayers can now use their cell phone or tablet to prepare and e-file a federal tax return through IRS Free File. Access Free File two ways: Use the IRS app, IRS2Go, which has a link to the Free File Software Lookup Tool, or use the device’s browser to go to www.IRS.gov/freefile and select the “Free File Software Lookup Tool” or “Start Free File Now” to find the software product desired. The IRS2Go app is available for Android and iOS devices.

(5)    Report All Income. Taxpayers must report all of their income from Forms W-2, Wage and Tax Statements, and Forms 1099. Other income may be reportable as well, even if the taxpayer does not receive a statement.

(6)    Choose Direct Deposit. The fastest and safest way to a refund is to file electronically and choose Direct Deposit. The IRS issues most refunds in less than 21 days.

(7)    Visit IRS.gov. IRS.gov is an excellent resource. Taxpayers can click on the “Filing” icon for links to filing tips, answers to frequently asked questions and IRS forms and publications. The IRS Services Guide outlines the many ways to get help on IRS.gov.

(8)    Explore Filing Options. Taxpayers have many options to file. Self-prepare or use a tax preparer. Millions are eligible for free help from a Volunteer Income Tax Assistance or Tax Counseling for the Elderly site. The IRS Directory of Federal Tax Return Preparers provides information on tax professionals including their qualifications and credentials. IRS tools are available 24/7.

(9)    Check out IRS Publication 17, Your Federal Income Tax, is a complete tax resource. This 300-page guide is available as an eBook as well.

(10)Avoid Errors. Taxpayers should take extra time to review their return to file accurately the first time. Mistakes slow down refunds. IRS e-file is the most accurate way to file as using it eliminates many common errors. Paper return filers should check all names, Social Security numbers and sign the tax return.

Health Tip of the Quarter

Don’t Reward Kids With Sugary Snacks

 

Avoid rewarding children with sugary snacks. Though it may seem like a good idea to encourage or incentivize a child to accomplish a particular goal, in the long run such a pattern may become a lifelong habit for some people.

Anna Aluko-Fostine
Registered Nursing Assistant
Valley Health System
Poor Medication Adherence
Poor medication adherence is a complex problem with many contributing factors making it hard to find a universal solution. Effective medications are the cornerstone of prevention and disease treatment, yet only about half of the patients take their medications as prescribed. This widespread non-adherence to medication has serious consequences for patients and for the healthcare system as a whole. The annual cost is estimated to be between $100-290 billion (Zullig, Gellad et. al.2015). There are many factors contributing this problem in the elderly population including limited physical mobility, access to transportation, and low health literacy. We find that even with low health literacy, when clients have means of getting prescription refills or caregiver involvement in the management of medication, this reduces the percentage and risks of medication non-adherence.

Studies have been done to explore medication adherence among patients and health literacy. Johnson, Jacobson & Gazmararian et al. (2009) explored whether social support helps patients with limited health literacy adhere to their medication regimens. They interviewed 275 pharmacy patients and assessed social support’s influence on medication adherence for those with limited versus adequate health literacy. The authors found that social support was associated with better medication adherence for patients with adequate health literacy than those with limited health literacy. Interestingly, they also reported that having a trusted confidant was the only type of social support associated with better medication adherence for limited-literacy clients. Furthermore, it was observed that limited-literacy clients were more reluctant to ask others for the assistance needed to take their medication correctly (Johnson, Jacobson & Gazmararian et al. 2009).

Clients with low health literacy may be embarrassed by their situation and hide this deficiency from healthcare providers who could possibly help. Although this study was done in a developing country, its findings are significant and replicated for clients in the United States. In a randomized study, 127 clients with type 2 diabetes with low health literacy were randomly allocated into three arms of the study (pictorial, teach back, and control groups. the level of literacy was measured before, immediately and six weeks after the study. Rightfully so, the study concluded that the teach-back and pictorial methods increase knowledge, medication and diet adherence among the clients with type 2 diabetes (Negarandeh, Mahmoodi et al, 2013). The nursing staff at Mi Casa Es Casa uses some of these techniques to increase health literacy and medication adherence.

Although most of the staff is able to communication in Spanish, a few patients need extra help knowing, identifying and taking medications. Although the medication instruction, formularies, side effects and contraindications may be written in client’s’ primary language (in Spanish), most of the clients do not read or are not able to retain the labeled information. The high education level and medical jargon found in the mediation instructions deter even the most avid reader. Some clients explained that they recognized the color, shape, and size of individual their mediations-time of the day taken. Others have admitted to skipping doses at times. In such cases, family is called to assist in medication administration or the center administers the medications. Knowing that errors can occur, the nursing staff uses the teach-back method to enhance medication retention among the clients. More educational tools and resources are needed for the nursing staff at Mi Casa Es Su Casa to enhance teaching and provide evidence-based practice care to the clients with low health literacy.

 

References:

Johnson, V., Jacobson, K., Gazmararian, J. et. al. (2010). Does social support help limited-literacy patients with medication adherence?: A mixed methods study of patients in the Pharmacy Intervention for Limited Literacy (PILL) study. Patient education and counseling, 79(1), 14-24.

Negarandeh, R., Mahmoodi, H., Noktehdan, H., et al. (2013). Teach back and pictorial image educational strategies on knowledge about diabetes and medication/dietary adherence among low health literate patients with type 2 diabetes. Primary care diabetes, 7(2), 111-118.

Zullig L., Gellad W, Moaddeb, J., et. al. (2015). Improving diabetes medication adherence: successful, scalable interventions. Patient Prefer Adherence, 9, 139-49. Retrieved from

http://s3.amazonaws.com/academia.edu.documents/39650029/Improving_diabetes_medication_adherence_20151103-32280-6qe0fx.pdf?AWSAccessKeyId=AKIAJ56TQJRTWSMTNPEA&Expires=1482072908&Signature=ajedZbiDT8qqQd78np3U5jdRQQo%3D&response-contentdisposition=inline%3B%20filename%3DImproving_diabetes_medication_adherence.pdf

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