This week on Black Enterprise Business Report we peak inside America’s healthcare system with Powerplayer Michael Rashid, CEO of Amerihealth. The healthcare industry is big business and Rashid is keeping million of Americans healthy while helping to build up the community.

Also, HUD secretary Shaun Donovan re-accesses the housing market. Are there opportunities out there that we don’t know about? Donovan provides some answers. Our featured Entrepreneur of the Week is Cheryl Lofton, a third generation owner of a family-owned tailor and alteration business. Lofton’s sewing her way to success, and now she’s preparing the fourth generation to take over. And finally, correspondent Sonia Alleyne introduces holistic teas to make you feel better when you’re having a rough day.

Black Enterprise Business Report airs every Sunday morning at 10:30 a.m. on TVONE. Visitwww.blackenterprise.com/bebr for local time and station information.

“When you’re 40 and the doctor tells you that you may not be able to work to retirement age, everything changes,” says Herbert, who lives in Palos Verdes Estates in Southern California. “I didn’t plan on health issues that could possibly wipe out everything.”

For the last 16 years, Herbert has been plagued with back troubles as a result of degenerative disc disease. After three surgeries, the prognosis is not good. “In the next seven or eight years it may be that I can barely walk or work,” says Herbert, of his condition.

Herbert, a national performance excellence manager for an automotive finance company, says his employer spent $10,000 renovating his office to accommodate his limitations. Adjustments were made to his keyboard so that he is no longer straining or pulling his arms away from his body. And his computer screen was changed so that it would be at eye level. The height of his desk was increased and he was given a specially designed desk chair. Herbert has coped with these changes because his job is such an important part of his life. “My friends wonder why I don’t take a lot of vacations. I love what I do.” Herbert says his doctor suggested he go into real estate if he ever had to leave his job. He has sold real estate in the past and could work out of his home and go at his own pace, and not have to be at desk for hours at a time.

The thought of not working has been a financially and emotionally devastating experience. “I do not want to give up my house,” says Herbert, who owes more than $800,000 on the three-bedroom, three-bathroom house he purchased in 2004.

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Herbert is contemplating what may be inevitable. Right now, all medical expenses are covered through his employer-provided health insurance. He has disability insurance that will pay him about 70% of his nearly $200,000 annual salary. He also has a $350,000 life insurance policy through his company, one that allows him to keep his premium should he ever leave. As a single man with no children, he says he isn’t concerned about losing coverage. In addition to his disability insurance, he will have to rely on his personal savings and disability from the government (Social Security) for his income.

His priority is staying in his home, at least until he is disabled. He wants to pay it off, or come as close to doing so within the next seven to 10 years. Then he plans to sell the property and relocate to a less expensive location such as Texas or Florida and use the proceeds to pay cash for a new home.

He’s searching for a game plan to achieve that goal. He’s been chipping away at his mortgage, making one extra payment a year—but much more will be required.

Although he has no debt outside his mortgage, and has almost $200,000 saved in IRA, money market, and 401(k) accounts, he has a fetish for the fabulous.

“I’ve gone to the store to buy a pair of jeans, but I spend $700 on three pairs of jeans and two shirts,” says Herbert, who thinks nothing of plunking down $800 or $900 for a designer jacket, or $600 for a pair of sunglasses. His greatest obsession is briefcases. “I don’t care about the price. I buy a briefcase every 60 days, and then I have to get shoes and belts,” says Herbert. “I realize that money could be paying on the principle. But that doesn’t give me instant gratification, which I need,” he says honestly.

With the clock ticking, he’s thinking about his later years. “Some people have skydiving on their bucket list. I want to sit back and look at the ocean. I don’t want to owe anybody. I want my home to be paid for.”

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The Advice
To help Herbert prepare for the possibility of disability, black enterprise and Katrina Everett, certified financial planner and vice president with Wells Fargo Advisors, came up with a plan to help him reach his goals.

•  Get real about the house: While Herbert is set on staying put in his home for now, Everett thinks otherwise. “It’s hard to justify putting almost $5,000 a month toward a mortgage when you have health issues. A mortgage of more than $800,000 is a lot of mortgage for someone at his income level. I recommend he sell now and live a modest lifestyle and accumulate extra savings for medical expenses,” says Everett. “He says he wants to live life, to entertain his family and friends in his home. For him, it’s about living, not saving. It takes cash to service that house—I wouldn’t want him to be house rich and cash poor,” she adds. Herbert has quite a bit of equity in his home, unlike most Americans right now. He could possibly sell his home and walk away with some money in his pocket. He may have to consider looking into assisted living or leaning on family in the event his condition becomes worse. But assisted-living facilities are very pricey and can easily exhaust some or all of his savings. That is why it is very important that he saves as much as possible in his working years, adds Everett.

• Stop spending lavishly and save more: Everett says Herbert is counting on his house to be his retirement pot of gold, but the truth is, she says, he could easily be a millionaire if he controlled his spending. He takes home $10,000 a month after taxes. “He has spending problems. He has to work on his discipline. He should automate his savings, much like his 401(k). This will force him to save,” says Everett, who says Herbert needs a financial planner to hold him accountable. “He has to realize that he is spending money on things that depreciate.” Given his health, there is understandably temptation to live for today because who knows how illness may impact tomorrow. But medical advances could change the picture in his favor. He should still think long term, says Everett.

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Ideally, he should save one-third of his income, between his IRA, 401(k) and other savings. “That $2,000 and more a month he spends willy-nilly should be put in a brokerage account or a short duration bond fund,” says Everett. He should continue to max out his 401(k) every year, she suggests. He is currently putting away $16,500, plus his company matches 6% of his contributions. Everett recommends he save a minimum of one year’s expenses in an emergency fund. Herbert should also commit to putting an additional $1,000 per month toward his mortgage if he decides to stay in the home and another $500 to $1,200 per month in a brokerage account. She also says he should have $500 to $1,000 automatically deducted from his paycheck and put into a brokerage account for long-term savings. He should put the $2,000 Financial Fitness Contest winnings in his emergency fund, or, if he qualifies, contribute to a Roth IRA or non-deductible traditional IRA.

• Expect the unexpected: “He has a sense of comfort about his job. But we’ve learned the last few years that nothing is promised. He could lose his job at any time. He won’t be able to eat that Versace jacket,” says Everett soberly. While Herbert has a heads up about what may be down the road, not everyone gets advanced warning. Many people don’t think they need life or disability insurance, but they do. You have to ask yourself what will happen to your family if you can’t work and you can’t pay the mortgage. Herbert doesn’t think he needs life insurance because he is single, but life insurance can make sense even for singles. It can be a tool to leave a tax-free legacy to relatives or charity. You can also build on an existing policy once you’re married instead of initiating it when you’re older and it is costlier. Everett advocates buying long-term care insurance because health problems can be the juggernaut that drains assets in your golden years. It’s less expensive to get life and long-term care insurance when you’re young and healthy. Long-term care insurance would be ideal for Herbert, but unfortunately, due to his existing health problems, most insurers will not insure him for “long-term care,” and if they did, it would be very expensive. He should hold on to his job so he at least keeps disability coverage and should check into getting a supplemental disability policy beyond what he has at work. People should consider supplementing employer provided coverage with a policy of their own. “If Rodd loses his job, that disability policy through work pays nothing,” points out Everett. He should qualify for Social Security Income that will net him about $2,300 a month, not nearly enough by itself.

•  Create a will: “I have no kids. When I’m gone, I’m gone. The money that’s left will be for my mother, my family,” says Herbert. But wishes are best put in writing. Quite simply, says Everett, “Everyone needs a will.” He should have an attorney prepare the medical directives. A well-conceived estate plan will ensure that his heirs/family will enjoy the security of his assets. In addition, creating an estate plan with a trust can be an effective way to avoid probate, to pass his assets on as he intended, and to keep his financial matters private.  BE

(Image: Getty)

While the rest of America may have Presidents’ Day off, Barack Obama has no time to sit back and celebrate the historic achievement of being elected as the United States’ first African-American President in 2008 at the age of 47. Instead, he is in the throes of a highly competitive and intense reelection campaign. Therefore it is essential to assess how he can most effectively advance the nation concerning issues of healthcare, the economy, education, foreign aid and more. To help in this mission, BlackEnteprise.com called upon the expertise, insight and wisdom of a select few who can relate to being a Black President. Drawing from the worlds of social justice, technology, the environment, media and the arts, we picked the brains of 11 of the nation’s foremost corporate and nonprofit African American Presidents aged 50 and under to share their thoughts on what President Obama needs to do next to truly cement his legacy and make a difference.

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Name: LaVar Young
Organization: Newark Now
Title: President and CEO
Age: 33

What makes him an effective President:

When Newark, NJ Mayor Cory A. Booker wanted to launch a program to empower Newark residents with skills, resources and community support he enlisted, LaVar Young. Young is the former Director of Fathers Now at the Newark Comprehensive Center for Fathers. His achievements have been recognized with an invitation to the White House for a discussion on fatherhood programs with President Obama.

My advice for President Obama:

“The U.S. ranks 14th in reading, 17th in science and 25th in math, according to the 2009 Programme for International Student Assessment, behind South Korea, Finland and Singapore. The lack of quality education across the board puts America’s next generation at a steep disadvantage in the global economy, and leads to employment and social issues that impede the development of adults. Economic opportunity specifically employment is an issue that many of the families we serve are dealing with. The rates of joblessness for minorities are much higher than for the general population. This is an issue that President Obama and the Democratic Party cannot afford to back down on.”

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Name: Dean Garfield
Organization: Information Technology Industry Council
Title: President and CEO
Age: 43

What makes him an effective President:

Before joining ITI, Garfield has served in high-level positions for organizations such as the Motion Picture Association of America (MPAA) and the Recording Industry Association of America (RIAA). For the latter he aided in the development of their intellectual property policy and oversaw several landmark United States intellectual property cases, including the Grokster/Kazaa case. At ITIC he has established public-private sector partnerships and was awarded with the first REACH Breaking Barriers Award in May of 2010, for his success in the technology industry and efforts to support youth to develop essential science, technology, engineering and math (STEM) skills.

My advice for President Obama:

“Our education policies are rooted in the 1800′s; our immigration policies date back to the 1930′s; our tax policies hail from the 1980′s; and our telecommunications and trade policies descend from the 1990′s. I would encourage President Obama to work with the tech sector to update and upgrade these policies in a fashion that will drive investment to the U.S. ‘Smart’ energy, transportation and buildings, cloud-computing, machine-to-machine communication, and molecular-level manufacturing will likely create millions of new jobs and trillions in revenue. To achieve our potential we can’t work around the edges, but need whole new strategies and bold leadership aimed at attacking our structural challenges.”

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Name: Majora Carter
Organization: Majora Carter Group
Title: President
Age: 45

What makes her an effective leader:

In one of the nation’s most environmentally and economically challenged areas, Carter successfully founded the nonprofit, Sustainable South Bronx. She ran the organization from 2001 to 2008 and helped establish a local model in the Bronx for green-collar job training and placement systems. Now with her own economic consulting firm she offers her invaluable expertise to a range of clients. Plus, she is a Peabody Award winning public radio producer and host of “The Promised Land.”

My advice for President Obama:

“We can use green infrastructure projects to provide accessible jobs for people with significant barriers to employment such as the generationally impoverished, formerly incarcerated and many of our nation’s veterans. Jobs in green infrastructure include urban forestry, urban agribusiness and green roofing. These jobs help adapt our cities to climate change and numerous studies have shown that working with plants provides therapeutic benefits to people who work with them. Furthermore, the most efficient and cost-effective form of crime prevention and social service is a job; so this strategy has the benefit of reducing social service expenses as it improves public health, lowers law enforcement costs and improves quality of life.”

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Name: William S. Parrish, Jr.
Organization: NobleStratgey
Title: President and CEO
Age: 44

What makes him an effective President:

All it took was one bold move for Parrish to expand his firm from a one-person consultancy to a 25-person company. NobleStrategy has spearheaded a host of high-profile projects including a $60 million New York City School Construction Authority management/mentor training program and a $140 million program for the Cicely Tyson School of Performing & Fine Arts in New Jersey. Parrish also has an environmentally conscious approach to his business as an official Leadership in Energy and Environmental Design (LEED) accredited professional and serving as sustainability consultant for the $1.8 billion 1 World Trade Center (formerly called the “Freedom Tower”) project. This entrepreneur and author also mentors at-risk youth on entrepreneurship.

My advice for President Obama:

“I think President Obama has done a fantastic job in placing energy efficiency and the green economy at the center of a very meaningful discussion; however, there is a tremendous opportunity to incentivize emerging businesses to participate on a larger scale. We all know small businesses drive the economy, but highlighting the market opportunities and speaking directly to minority and women-owned businesses about tax incentives and the green investment this country is making would be extremely attractive. Any opportunity to advance this discussion, inclusive of minority businesses, is critical for job creation and to avoid a ‘green’ divide, similar to the digital divide we encountered several years ago.”

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Name: Cheryl Duncan
Organization: Cheryl Duncan & Company Public Relations
Title: President and CEO
Age: 44

What makes her an effective leader:

Duncan possesses a keen understanding of the media’s power to influence society, which is why she focuses on generating increased awareness for social betterment projects. Her company’s past and present clients range from the New York African Film Festival (Lincoln Center) to Surgeons of Hope medical mission to Cambodia. Duncan was also the lead consultant for the Congressional Black Caucus’s “State of the African American Male Conference” and executes an ongoing campaign to promote foster parenting for the New York City Administration for Children’s Services. Further demonstrating her dedication to positive causes, Duncan has provided pro bono work for organizations such as the World Literacy Crusade, The Stay Strong Foundation, and The New York Rescue Workers’ Detoxification Project.

My advice for President Obama:

“Non-profits are under siege in this economy. I’m hoping that the health of nonprofit organizations will be top of mind for President Obama as these organizations are key partners in his work to bring back America. As such I’m hoping that his efforts to stimulate the economy will also address the nonprofit sector through direct federal funding. I remember the very inspirational speeches of candidate Obama in 2008. While we do need him to continue to work on the solutions to the many pressing issues facing the country, I’m hoping that President Obama doesn’t forget his unique talent of inspiring people. By constantly painting the picture of the America that people desire and by continually pointing to the big picture and not just the tactical, he can inspire his party and the country overall.”

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Name: Sheena Wright
Organization: Abyssinian Development Corporation (ADC)
Title: President and CEO
Age: 42

What makes her an effective President:

Under Wright’s leadership, ADC has created a permanent site for the Thurgood Marshall Academy for Learning and Social Change, which is the first high school built in Harlem in over 50 years. Wright also manages a Displacement Prevention campaign to address the needs of low and moderate-income families through civic engagement and preservation purchases of at-risk buildings.

My advice for President Obama:

“The key elements necessary to rebuild and restore America are the same keys needed to rebuild and restore community. Instead of a ‘race to the top,’ we have to build a collaborative community approach where everyone is invested in creating better educational and developmental opportunities for all of our children. While we are rightly focused and invested on job creation we need to be equally focused and invested on making sure our workforce is skilled and prepared for the jobs that are being created, particularly in the Black community. By 2020 only 50 million Americans will be qualified to fill 123 million highly skilled jobs, according to the Institute for a Competitive Workforce. Also the collapse of the housing market is at the root of much of the problems in the economy today. The way to correct this precarious situation is to provide more access to affordable, quality housing with responsible financial products. Regulation is needed in order to hold banks to higher standards to prevent the predatory lending practices that plagued our communities recently.”

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Name: Shannon Nash
Organization: Nash Management Group, Inc.
Title: President
Age: 41

What makes her an effective President:

Nash isn’t content to just hold one title. In addition to being the president of Nash Management Group, Inc. she is also an attorney, business manager, author and a Certified Public Accountant. Through her entertainment and business management firm she has represented past and current clients, including Terri J. Vaughn, Chaka Khan, Ne-Yo, Carmelo Anthony and more. She is also co-owner of The Green Room Actor’s Lounge along with Vaughn and producer Roger Bobb.

My advice for President Obama:

“I would advise him to support more public/private partnerships in the arts as a way to build our youth, as well as strengthen our communities and provide jobs. We have to come up with creative solutions to help cities and schools with a lack of funding to get the private sector involved in these solutions. Cites like Pasadena, CA have implemented these programs as a way to keep arts education in the school curriculum when money was tight or nonexistent. Through their innovative program called ‘My Masterpieces: Discovering Art in My Community,’ they partner with local art institutions and students take field trips in the community specifically co-designed with the K-6 visual art curriculum.”

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Name: Arva Rice
Organization: New York Urban League (NYUL)
Title: President and CEO
Age: 43

What makes her an effective leader:

Rice has wasted no time advancing the NYUL’s agenda. She has managed to launch several initiatives for the 91-year-old civil rights organization, including establishing the Girls Empowerment Day and a four-year $50,000 college scholarship in partnership with music icon, Mary J. Blige’s Foundation For the Advancement of Women Now (FFAWN).

My advice for President Obama:

“President Obama needs to create a jobs bill that is as sweeping, and maybe controversial, as healthcare. At this time we need a bill that ensures non-profits, trade schools and colleges can make relevant training and certificates available to meet the needs of our economy based on up-to date analysis of market trends. This bill must include growth in areas such as technology, energy, and green jobs, but also must challenge banks to free up capital for small businesses while ensuring consumer protection.”

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Name: Richard Buery
Organization: The Children’s Aid Society
Title: President and Chief Executive Officer
Age: 40

What makes him an effective President:

Mr. Buery is not only the first African-American leader of the Children’s Aid Society but he also holds the distinction of being the youngest since Charles Loring Brace founded the agency in 1853. Prior to joining the organization, Buery graduated from Harvard College and the Yale Law School. From there he co-founded three nonprofit organizations, including Groundwork, Inc., Mission Hill Summer Program and iMentor, which are all focused on enriching the education and quality of life of children in disadvantaged communities. Buery’s honors include the Extraordinary Black Man Award for Humanitarianism from the United Negro College Fund and the inaugural outstanding alumnus award from the Phillips Brooks House Association at Harvard University.

My advice for President Obama:

“I would recommend a strategy that eradicates the educational achievement gap between rich and poor. First, we need to develop a national indicator to measure the educational, economic, physical and social-emotional health of our children—a Children’s Index. Next, I would urge President Obama to propose a massive expansion of head start programs. Each and every child in America should have access to affordable, high-quality early childhood education. And finally, we must make every school in America a community school. The community school model is a proven strategy that ensures the academic success of children by developing schools with three building blocks required: strong teaching and school leadership, expanded learning opportunities through quality partnerships and student and family supports to reinforce learning and eliminate barriers to success.”

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Name: Christine Carter
Organization: Against All Odds Foundation
Title: Founder, President and CEO
Age: 30

What makes her an effective President:

As a direct product of the New Jersey foster care system, Carter brings passion to her role as an advocate for children. Her organization focuses on a slew of programs designed to enrich the education of children and provide social services for underserved families. Most recently, Carter was featured on The Wendy Williams Show kicking off their “My Black Is Beautiful” initiative.

My advice for President Obama:

“In order to effectively address the complex issues affecting underserved families and at-risk populations, I would strongly recommend that [Obama] assess, identify and respond to the holistic needs of these families by first and foremost connecting directly with them. Their responses will give [him] and [his] administration invaluable insight that will reshape the Human Services arena. I have five suggestions as [he] continues in [his] leadership role. One, remain true to the established platform on which [he] was elected. Two, continue to maintain a close circle of objective advisors. Three, consistently rise above the challenges of partisanship and negative criticism. Four, strengthen [his] legacy by developing the next generation of world leaders and public servants through educational and community development investments. Five, continue to not only have the ‘audacity of hope’ but the audacity to serve.”

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Name: Chef Kone Abdoulaye
Organization: International Agro-Alliance, Inc. (IAA)
Title: President and Founder
Age: 45

What makes him an effective leader:

Looking back on the environment of his upbringing inspired Chef Abdoulaye, a native of Cote D’Ivoire (Ivory Coast), to found his organization in 2008. Chef Abdoulaye’s mission has been to address issues of hunger and malnutrition by promoting rural social and rural economic development through sustainable agriculture. Prior to IAA, he trained and employed several local citizens to create a source of food security for local villages by operating and managing 92 acres of farmland in Yamoussoukro (government capital of Cote D’Ivoire).

My advice for President Obama:

“[Obama] has also done great focusing on democracy in Africa by putting African leaders on notice. However, the US development strategies in Africa should be focused on agricultural development to strengthen food security. People really do not care much about democracy or education as long they are hungry. Because they are hungry, their learning capacities are considerably reduced and their contributions to the society are insignificant. But people can change the governing process if they can overcome that fundamental basic necessity. From a leadership perspective, I know compromise is the key for moving the country forward. But compromise cannot happen with those determined to make him fail. So he needs to come closer to base, take advantage of the majority we will give him and accomplish something.”

“After losing my mother to breast cancer 17 years prior to my diagnosis, I was determined to take control of my health and, ultimately, my life,” says Wyre-Daugherty, a 43-year-old Decatur, Georgia, resident. “It was necessary for me to research my condition, get clarity from medical professionals, understand my options, and pray for direction.”

Your doctor’s office can be intimidating. The various degrees on the wall and the doctor’s pressed, white coat might set you on edge. But visits don’t have to be a daunting experience. Our experts’ advice can help you become a more vocal and informed patient.

Educate yourself about your illness. Because her mother had experienced breast cancer, Wyre-Daugherty knew she had to research the disease not only for herself, but for her children—Kierra, 17, Keenan, 14, and Chanel, 9. Websites for the American Cancer Society (cancer.org), Breastcancer.org, and WebMD (webmd.com) were her main sources of information. She thought of specific questions for her doctor and jotted them in a notebook she kept in her purse. “First, educate yourself about the ailment.  Then, write down all of the questions and take them into the exam room with you,” says Kevin Flynn, president of HealthCare Advocates Inc., an organization that assists consumers with problems regarding healthcare.

Schedule your appointment at an optimal time. You want to have your doctor’s undivided attention to get your questions answered in what often is a 10- to 15-minute visit for routine checkups. Dr. Janet Bivens, owner of Kendrick Family Practice in Atlanta, says it’s generally best to be the first appointment of the morning, the first after lunch, or the last of the day. Trisha Torrey, author of You Bet Your Life! The 10 Mistakes Every Patient Makes—How to Fix Them to Get the Health Care You Deserve (Langdon Street Press; $16.95), offers another suggestion: “Avoid the days around holidays and weekends.” Medical personnel may not be as focused on patients during those times.

Form a partnership. The nature of the doctor–patient relationship has changed over the last 20 years. Under the old model, doctors told patients what to do and they did it—no questions asked. “The new model is a partnership,” says Bivens. That partnership should be mutually respectful.

Never allow a doctor or other healthcare professional to make you feel rushed.

Ask questions. Ask all the questions you have for the doctor. If the doctor leaves the exam room, or if all your queries haven’t been sufficiently answered, kindly ask the doctor to call you when he or she isn’t busy. If you find it difficult to ask questions, ask a more assertive family member or friend to accompany you during visits. It’s important for you to understand your illness. Your doctor shouldn’t feel threatened by your probing questions. Because a lot of the terminology in Wyre-Daugherty’s treatment was complex, she asked pointed questions during each visit. The Patient Advocate Foundation encourages patients to have a prepared list of questions such as the following:

• What is the goal of my treatment?
• What are my treatment options?
• What is your experience treating this disease?
• How often will I receive treatment?

“Making a list can be a useful tool to help your visit go more smoothly, but keep in mind that your doctor has a limited amount of time to spend with you and you should address your most important concerns first,” advises Bivens.

Assert yourself when necessary. Wyre-Daugherty took control of her health and insurance. When her first oncologist did not meet her needs (she says the doctor always appeared rushed, interrupted their appointments to talk to others, and was not very understanding), she found a second one through a cancer support group “buddy” referral.  When her insurance company initially declined to cover a $3,500 test, she made several calls to the insurer to get the test covered.

Your doctor is a service provider you have selected to help you get well. Your insurance company gets paid to properly insure you. “Being direct, but clear, about your needs is imperative as you resolve the issues you may face,” says Erin Moaratty, chief of external communications for the Patient Advocate Foundation. “However, it’s important that you don’t come across as rude or argumentative.”

Know your insurance coverage. It’s important to read and understand your health insurance policy. Ask your health insurer or employer to explain it to you. Like Wyre-Daugherty, don’t back down if a provider does not initially authorize certain expensive diagnostic tests, new drugs, procedures, or specialist referrals. If you need assistance, contact organizations such as HealthCare Advocates Inc. or Patient Advocate Foundation. “Following your insurance policy requirements will help you contain your out-of-pocket expenses,” says Moaratty. “Make sure you review the explanation of benefits after you receive treatment to ensure proper payment is being made.”

Share your health history. It’s important to be honest with your doctor—even about herbal or alternative treatments you may be using. Your doctor will give you forms to fill out to detail your medical history.  Additionally, Bivens suggests setting up an account on HealthVault (healthvault.com). Your medical records, imaging films, test results, doctor’s appointments, and even your children’s immunization records are kept in a central location that doctors can access with your approval. “HealthVault is a secure account you can use to view and track your health information online. You document your history, your medications, allergies, family history, blood pressure, and blood sugar readings. If you are ever in an emergency room in another state, the doctors can readily access important information,” she says.

Overcome the race, gender, and age bias. HealthCare Advocates offers several tips for African American, female, and older patients, three groups that experience healthcare disparities. If you feel you’re getting substandard care, you can file a complaint with your state’s board of medical licensure and the facility’s peer review panel. If possible, carefully consider the facility in which you are being treated. “For routine care, seek a professional practice and not a teaching hospital,” says Flynn. “While you can try, you cannot ensure that your doctor will listen to you. If you feel that you’re being treated like a child, you should seek a new doctor. Having confidence in your doctor is a large part of the medicine.” For complex ailments, Flynn says teaching hospitals are best because they often have access to the latest tools to fight illnesses.

Get a second (or third) opinion. Wyre-Daugherty found peace with her second oncologist. After suffering side effects (acute nausea, weight loss, and uncontrollable itching) of eight rounds of chemotherapy, she became cancer-free in July 2007. If you’re going through a major illness, you want a doctor who calms you in a soothing environment. There are other reasons to seek a second opinion. “If a doctor prescribes any form of long-term treatment, then a second opinion is called for,” says Torrey. “If a patient is being treated but the treatment isn’t working, then it’s time for a second opinion. If the two opinions are not the same, then it’s worthwhile to get a third opinion.”

Negotiate the bill. If you are uninsured or underinsured, you can still be empowered in your healthcare. You can ask your doctor for a discount such as the Medicare rate. Many doctors will reduce their prices for self-paying patients. Depending on your situation, apply for Medicaid. (While income is a qualifying factor, it is not the only criteria used. Research your state’s guidelines to see if you qualify.) If you are denied Medicaid, some hospitals will offer financial assistance. Also ask about drug replacement programs. Financial grants are available from disease-specific organizations such as Patient Advocate Foundation’s Co-Pay Relief (866-512-3861; copays.org), its National Underinsured Resource Directory (patientadvocate.org/help4u.php), and its Colorectal CareLine Financial Assistance Fund (866-657-8634; colorectalcareline.org). The Colorectal CareLine Financial Assistance Fund provides one-time $400 grants to individuals who have a diagnosis of colorectal cancer and make $75,000 or less annually. Co-pay relief programs can also help cover some medicines. Contact the Patient Advocate Foundation (patientadvocate.org) for strategies to help reduce or eliminate your out-of-pocket expenses.

Simple steps for small business owners (Image: Thinkstock)

As part of my weekly segment on Warren Ballentine’s Truth Fighters radio show,  we have discussed and will continue to review over the next month the best ways to empower our audience given the current environment.  I told him one of the areas that continues to be a a major focus for our editors has been entrepreneurship. And for good reason: According to the recently released data from the U.S. Census Bureau’s Survey of Business Owners: Black-Owned Businesses: 2007, the number of firms owned by African Americans increased by a whopping 60.5% to 1.9 million, more than triple the national rate of 18%. Over that same period, the report stated that black-owned businesses showed an increase in revenues of 55.1% to $137.5 billion.

Although Census data — the survey is conducted every five years — does not include the growth of black businesses since the brunt of the Great Recession, it is a good bet that there has been more business creation and self-employment out of necessity. That doesn’t mean that the same challenges of gaining contracts and financing hasn’t continued to serve as an anathema for black firms. One way for African American entrepreneurs to get a leg up on the competition or find new business strategies and  funding sources is by registering for the BLACK ENTERPRISE Entrepreneurs Conference + Expo hosted by Nationwide and held in Atlanta from May 22-25. Our theme,  Rethink:Business, gives you an idea of the type of information you will receive during the course of that event.

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Photo by Scott Council

For three years, Bola Oyeyipo-Ajumobi has participated in her company’s flexible spending account program to purchase contact lens solution, a blood pressure machine, allergy medicine, and cough medicine for her 3-year-old and 6-month-old children. She typically contributes between $500 and $1,000 a year, and has saved an estimated $200 each year that she’s participated. But as of Jan.1, a new provision under the Affordable Care Act prevents employees from getting reimbursed for purchases of over-the-counter medications without a prescription.

“It will be a hassle, because when my child has a cold, I just want to pick up something quickly,” says Oyeyipo-Ajumobi, 34. As a result of the new rules, she reduced her contribution to $250 and stocked up on cold medicine. The new stipulation also applies to employees who hold health savings accounts, health reimbursement arrangements, and Archer medical savings accounts.

FSA participation benefits employees because the money they contribute to their plans isn’t taxed as income. These accounts helped to offset the 30% rise in yearly out-of-pocket health costs Americans paid between 2001 and 2006, according to HealthReform.gov.

The Affordable Care Act will soon be effecting another change: capping the amount that can be deposited into FSAs at $2,500 per employee, down from the current $5,000. But this change doesn’t go into effect until 2013.

For now, here’s what you should be aware of:

• Over-the-counter drugs that now require a prescription for participants to be reimbursed include allergy and sinus medications, pain relievers, and nutritional supplements.

• Non-prescription items still eligible for reimbursement include birth control products, reading eyeglasses, and diabetic supplies like insulin. Fortunately for Oyeyipo-Ajumobi, contact lens solution is still an eligible item. For a full list, go to IRS.gov and search for Publication 502, Medical and Dental Expenses. You can also still use your FSA to pay co-payments and co-insurance deductibles.

• You’ll need to keep a copy of your prescription along with your receipts when you submit your claim for reimbursement, says Sara Taylor, a benefits consultant at Aon Hewitt, a human resources consulting firm.

• If your FSA plan provides a debit card, as of Jan. 1 you cannot use it to buy over-the-counter drugs. Your card can still be used to purchase medical care items, such as bandages, that are not medicine or drugs.

• According to the IRS, 2010 FSA participants can be reimbursed for eligible purchases made through March 15 if their employer allows a grace period. The only exception is that over-the-counter medications must have a prescription if they were purchased on or after Jan. 1. If you purchased the medication before Jan. 1 and have not submitted your claim for reimbursement, you can do so up to March 15.

• Plan ahead and think about the pharmaceuticals you’d usually buy. “When you see your doctor, discuss the need for prescriptions rather than calling six weeks later for a prescription for aspirin,” says Dr. Michael Bihari, a health insurance guide at About.com.

• If you purchase ineligible items using another type of health savings account, like an HSA or Archer MSA, those medical expenses will be included in your gross income and be subjected to an additional tax of 20%.

In his State of the Union Address, President Obama sought to rally the nation as he mapped out his bold plan to “win the future.” Asserting that “the rules have changed,” he said America will achieve the next level of greatness through industrial innovation, improving the public education system, rebuilding the nation’s infrastructure and deficit reduction through shrinking government and a five-year spending freeze, among other measures.

The centerpiece of his speech before the jam-packed chamber focused on making American industry more competitive with nations such as China and India—those countries that have invested heavily in research and new technologies. He issued a challenge to America’s scientists and engineers to invent new clean energy technologies, calling for 80 percent of the nation’s electricity to come from sources like wind, solar, nuclear, clean coal and natural gas by 2035, as well as ensure that the US is the first country to produce 1 million advanced technology vehicles on its roads.

“Half a century ago, when the Soviets beat us into space with the launch of a satellite called Sputnik¸ we had no idea how we’d beat them to the moon,” Obama said, recalling the incident that shocked the government into creating the space program. “After investing in better research and education, we didn’t just surpass the Soviets; we unleashed a wave of innovation that created new industries and millions of new jobs. This is our generation’s Sputnik moment.”

“We know what it takes to compete for the jobs and industries of our time. We need to out-innovate, out-educate and out-build the rest of the world,” he continued. “We have to make America the best place on Earth to do business”

But the President has immediate concerns. Although he recounted the economic and financial progress of a nation that was on the financial brink two years ago—the stock market’s strong performance, rising corporate earnings and sustained GDP growth—the administration wrestles with how to put millions to work and reducing the country’s 1.3 trillion budget deficit.

The speech was chock full of initiatives, offering programs that would be embraced by progressives such as ending tax breaks for wealthy Americans and policies favored by conservatives, such as a 12-month reorganization of government. In fact, Obama said he was open to improve healthcare reform by “mak[ing] care better or more affordable”—a measure the Republican-controlled House voted to repeal this week.

“It was a delicate balance of trying to tell some of the Democratic base some of the things that they wanted to hear, such as the elimination of the 2% of the richest Americans getting tax breaks, and at the same time he was also trying to send up an olive branch to the other side. It’s a delicate balance,” says Rep. Emanuel Cleaver II (D-Missouri). “He made the point that he wants to be the president of the entire country and he needs the Republicans’ help to do it.”

From his conservative vantage point, Allen West (R-Florida) says: “[President Obama] talked about some things we’d heard two years ago, such as our vetoing a bill with any earmarks. Starting right off we saw that he didn’t do that with the stimulus package. It was interesting to hear him sound like a conservative on some points and at other points he sounded like the same president of the last two years.”

Citing the shooting of Rep. Gabby Giffords, he also used the speech to urge Democrats and Republicans to seek common ground and put American concerns before partisan infighting. In fact, the Arizona incident and renewed focus on incivility of political discourse led to a number of Democrats and GOP legislators to “date,” sitting together instead of a splitting the chamber along partisan lines.

“This simple recognition won’t usher a new era of cooperation,” the President said. “What comes out of this moment will not be whether we can sit together tonight but whether we can work together tomorrow.”

–Additional reporting by Joyce Jones

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