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Taking Care of Mental Health is an Investment in Yourself

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“It’s as simple as calling us and we can put you in touch with someone to guide you to the right resources.”

Polara Health has recently launched a cutting-edge community behavioral health hospital named The Healing Place, which commenced its operations on April 24. The facility, situated at 181 Whipple Street in Prescott, provides a comprehensive array of mental health services for individuals with acute and chronic psychiatric issues who require inpatient care. These services were previously offered at Polara Health’s Windhaven Psychiatric Hospital in Prescott Valley, but have now been relocated to the new location.

The facility is equipped with the latest technology and staffed by a team of experienced mental health professionals, including psychiatrists, psychiatric nurse practitioners, nurses and behavioral health providers. The Healing Place is designed to provide a safe, supportive and therapeutic environment for clients, with comfortable accommodations and amenities that promote healing and recovery.

“We are excited to open our doors in our new space and serve the mental health needs of our community,” said Polara Health Chief Clinical Officer Erin Kantor.

The Healing Place provides comprehensive inpatient treatment services, including psychiatric evaluation, medication management, group psychotherapy, recreational therapy and education on coping skills and stress management. Our goal is to provide the highest quality mental health care possible, with a focus on patient-centered, whole person care.

“We believe that every patient has the potential for healing and recovery, and we are committed to helping achieve their goals. Being in an environment that supports healing and recovery is key. We are delighted that our new hospital provides such an environment,” said President and CEO Tamara Player.

With mental health, the important thing is to get the person in contact with help at the moment they make the decision to accept it. Timing and access are priorities for Polara Health and their clients.

Polara Health, with 12 locations in Yavapai County, offers programs beginning at birth through seniors, with more than 225 new clients on a monthly basis. A Center for Excellence Award was recently given to Polara Health for its Birth to Five program and Transitioned Aged Youth program through HealthChoice BCBSAZ.

“There is still a stigma attached to reaching out for help, yet there was a recent study by the World Health Organization that showed 67% of the U.S. population does not operate at optimal mental capacity and so, at some point, a large part of our community could benefit from some sort of mental health assistance,” Player added. “Polara is here to make that assistance not only accessible, but also non-judgmental. It’s as simple as calling us and we can put you in touch with someone to guide you to the right resources.”

If you or someone you know is in crisis, please contact our Crisis Stabilization Unit in Prescott Valley. The CSU is open 24/7 and you can walk through our doors at 8655 E. Eastridge Drive in Prescott Valley or call 928-445-5211. Polara Health’s Crisis Stabilization Unit is our first point of contact and the doors are open to all.

You can also call or text 988 and talk with a trained professional 24/7. QCBN

By Deanna Eder

To learn more about Polara Health, our services and how you can join our team, please visit www.polarahealth.com.

Deanna Eder is the director of marketing and communications at Polara Health.

Bringing Attention to Resources in Recognition of Mental Health Awareness Month

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Mental health conditions can range from mild to severe and can have a significant impact on a person’s life.

May is Mental Health Awareness Month, a time dedicated to raising awareness and educating the public about the importance of mental health. Mental health is a vital component of our overall health and well-being, yet it is often overlooked or stigmatized. Mental health conditions can affect anyone, regardless of age, gender, race or socioeconomic status.

The last three years have had a significant impact on mental health, with many people experiencing increased levels of stress, anxiety and depression. The pandemic has highlighted the need for increased access to mental health services and support. Mental Health Awareness Month is an opportunity to address these issues and raise awareness about the importance of mental health.

One of the most important messages of Mental Health Awareness Month is that mental health is just as important as physical health. We all have mental health, just as we all have physical health. Mental health refers to our emotional, psychological and social well-being. It affects how we think, feel and behave, and influences our relationships, work and overall quality of life.

Mental health conditions can range from mild to severe and can have a significant impact on a person’s life. Some common mental health conditions include anxiety disorders, depression, bipolar disorder and schizophrenia. These conditions can be treated with therapy, medication, or a combination of both. However, many people do not seek help because of the stigma or lack of access to care.

Stigma surrounding mental health is a significant barrier to seeking help. Stigma can prevent people from talking openly about their experiences and seeking the support they need. It can also lead to discrimination and exclusion. Mental Health Awareness Month aims to challenge stigma and promote understanding and acceptance of mental health conditions.

Another key message of Mental Health Awareness Month is the importance of self-care. Taking care of our mental health is essential for our overall well-being. Self-care can involve a range of activities, such as getting enough sleep, eating a healthy diet, exercising regularly, practicing mindfulness and connecting with others.

Connecting with others is particularly important for our mental health. Social support can help us cope with stress, reduce feelings of isolation, and promote a sense of belonging. However, the pandemic has made it more challenging to connect with others, particularly for those who are isolated or experiencing financial hardship. Mental Health Awareness Month is an opportunity to highlight the importance of social support and encourage people to reach out to others.

Mental Health Awareness Month also aims to promote access to mental health services and support. Unfortunately, many people do not have access to affordable, high-quality mental health care. This can be due to a lack of resources, long wait times, or stigma surrounding mental health. Mental Health Awareness Month is an opportunity to advocate for increased funding for mental health services and promote policies that improve access to care.

There are also many resources available for people who are struggling with their mental health. Mental health hotlines, such as the new 988 National Suicide and Crisis Lifeline, are available 24/7 for people who need someone to talk to. Online resources, such as therapy apps and or tele-health, can also be helpful for people who are unable to access in-person care.

In conclusion, Mental Health Awareness Month is an important opportunity to raise awareness and promote understanding of mental health. Mental health is a vital component of our overall health and well-being, and it is essential that we prioritize it. By challenging stigma, promoting self-care, and advocating for increased access to mental health services and support, we can help improve the lives of those who are struggling with mental health conditions. QCBN

By Deanna Eder

Deanna Eder is the director of marketing and communications at Polara Health.

Delayed Justice Center and Jail Near Completion

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Upon completion, Greene said, the public will have an opportunity to tour the new facilities.

The construction on the Yavapai County Justice Center and Jail should be completed this month and the sheriff should be given the key by early summer, according to county officials.

“We’re getting really close,” said David McAtee, public information officer for the Yavapai County Board of Supervisors.

The project, which has been underway since late 2020, is located along Prescott Lake Parkway. After construction is completed, McAtee said they have to go through the punch list to make sure everything is ready. He said the punch list can take a long time because it involves many details.

Polara Health will be housed at the detention center to address inmates’ behavioral health needs. “They will get the attention right there that they need,” said McAtee, noting that the emphasis is to keep people out of jail.

The Yavapai Justice Center and Jail will have two courtrooms, so those arrested can be processed right there. There will be space for two judges and courtroom staff, along with a big kitchen. The jail will have 125 beds for short-term holding. The cafeteria will be able to feed nearly 400 people, with inmates charged $2.99 per meal.

The project is running about six months behind and $1 million over budget because of the construction delays during the pandemic and inflation. It was funded through a $60 million bond and $12 million from the county’s general fund.

Hensel Phelps, with its corporate office in Colorado, is the main contractor, while Kitchell Corp. from Phoenix is coordinating the work on the ground. “They are doing an amazing job considering that prices doubled during the pandemic,” said McAtee.

Kristin Greene, director of public affairs for Yavapai County Sheriff’s Department, said there are three main buildings in the complex.

  • The jail, where inmates are either released or held before being sent to prison.
  • A new courthouse, which replaces the one on Gurley St.
  • A connection center, also known as a reentry center, where community resources will be housed. Concerns such as housing, substance abuse and mental health will be addressed there.

The overall size is 105,524 square feet, with the 73,289-square-foot detention center, the 24,466-square-foot court and the 7,769-square-foot connection center.

Inmates will also be screened for mental health and other issues before they are booked. “Recidivism rates have a lot to do with mental health,” Greene said. “We’re going to look at ways to keep people from coming back to jail,” she said.

Greene said the only jail intake and booking in Prescott now is very small and the old jail is dilapidated. She said the new jail will save time and gas costs by not having to transfer inmates to elsewhere in the area. The new facilities also will move the courthouse out of the busy downtown.

“This will be a lot more efficient from top to bottom,” she said. “I’m extremely excited about the connection center being right there. This is the culmination of a long belief by Sheriff David Rhodes.

Upon completion, Greene said, the public will have an opportunity to tour the new facilities. QCBN

By Stan Bindell and Ray Newton, QCBN

Photo by Patty Newton: Officials say the Yavapai County Justice Center and Jail on Prescott Lake Parkway will save on time and money, with services on site aimed at reducing the number of people returning to jail.  

Autism Awareness Walk or Roll Event Bringing Activities, Awareness

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Polara Health’s Autism Program also has a monthly hybrid support group for parents of special needs children, including autism.

Autism Awareness Month is a yearly observance held during the month of April. The purpose of this month is to raise awareness and promote understanding of Autism Spectrum Disorder (ASD), a neurodevelopmental condition that affects social communication, behavior and sensory processing.

During Autism Awareness Month, individuals, organizations and communities around the world participate in various events and activities. Autism Awareness Month was first observed in April 1970 by the Autism Society, a U.S.-based organization that aims to improve the lives of individuals with autism. Since then, it has grown into a global initiative, with many countries around the world joining in to spread awareness and promote inclusion and acceptance of individuals with ASD.

Locally, Polara Health’s Autism Program will be hosting the 2nd Annual Walk or Roll: Move 4 Autism Community Picnic. This event will be from 10 a.m. to 2 p.m., Friday, April 14, at A.C. Granite Creek Park in Prescott. We will have fun activities for the attendees, including lunch. Also, local autism resource providers will be in attendance with information on community support.

Polara Health’s Autism Program Manager Heidi Ackzen oversees the services and support groups provided. Through the past couple of years, her team has begun to serve those living with autism by offering two different groups to both adults and children. The program facilitates a communication 101 group that helps to teach the social, emotional and communication skills needed to navigate one’s environment. The second group is an anger management group that helps to identify the different emotions that arise when upset and dysregulated. Both groups are centered on the proven, evidence-based intervention rooted in applied behavior analysis (ABA).

In addition to the groups, we offer and provide families/caretakers opportunities for relief by organizing respite events throughout the year. These events not only provide the family with respite from caring but it also opens up the community and new settings to those we support.

Parent support is crucial for children with autism, as it can significantly impact their development and well-being. Here are some ways that parents can provide support for their children with autism:

Educate yourself about autism. Learn as much as you can about autism spectrum disorder, including its symptoms, causes and treatments. This will help you understand your child’s needs and behaviors, and enable you to provide appropriate support.

Seek professional help. Consult a healthcare professional, such as a pediatrician, psychologist or speech therapist, who specializes in working with children with autism. They can help diagnose your child’s condition and provide guidance on treatment options.

Develop a structured routine. Children with autism often thrive on structure and routine, so it’s important to establish a consistent schedule for your child. This can include regular mealtimes, bedtimes and activities.

Use visual aids. Visual aids, such as pictures, charts and schedules can help children with autism understand and remember important information. They can also be useful in organizing daily routines and activities.

Create a sensory-friendly environment. Children with autism may be sensitive to certain sounds, lights or textures, so it’s important to create a sensory-friendly environment at home. This may involve reducing noise, providing comfortable clothing and using calming scents.

Encourage communication. Communication can be a challenge for children with autism, but it’s important to encourage them to communicate in whatever way they can. This may involve using visual aids, learning sign language or using assistive technology.

Connect with other parents. Connect with other parents of children with autism, either in person or through online support groups. They can offer valuable advice and support, and help you feel less alone in your journey.

Remember, every child with autism is unique and what works for one child may not work for another. It’s important to be patient, flexible and open to trying new approaches. With the right support and resources, children with autism can thrive and reach their full potential.

Polara Health’s Autism Program also has a monthly hybrid support group for parents of special needs children, including autism. For more information on the Wallk & Roll; Move for Autism picnic or Polara Health’s Autism Program, please email h.ackzen@polarahealth.com, call us at 928-445-5211, or visit our website: polarahealth.com. QCBN

By Deanna Eder

Deanna Eder is the director of marketing and communication at Polara Health.

Risk Management: Protecting your Assets

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You work hard for your money. Make sure it stays your money!

As you progress through life and build your wealth, it becomes necessary to protect yourself, your family and your assets. The most common way to protect is to buy some form of insurance. When you buy insurance, you shift the risk to a third party and away from you. At different times in your life, it will be necessary to have different levels of protection. In some cases, being self-insured is an alternative.

Life Insurance

If you have anybody dependent upon you, life insurance is essential. The purpose of life insurance is to replace your income for your loved ones. As an example, if you make $50,000 per year, a policy of 10 times that amount would replace your income if invested with an average return of 10%. Always purchase term life insurance. It is the most cost-effective.

Homeowners

When you reach homeownership status, insuring that asset will be important. Purchasing a home is the single largest purchase many folks make in their lifetime. If you have a mortgage, the lender will require you to purchase insurance. Not for you, but for them.

Make sure you have adequate coverage, not just what the lender requires. Review the limits regularly to make sure you can replace what you have. In addition, you will want to insure the contents of your home and any rare collections you may own.

Renters should have a renter’s policy to cover the contents of their apartment. The landlord does not insure your personal belongings.

Auto

If you own a car, then it is certain you have purchased car insurance. It is required in all states. Make sure your limits are adequate. There are options for making this purchase. While the goal is to limit your risk, you may want to take on some risk in exchange for a premium reduction. As an example, a $500 deductible or a $1,000 deductible will have an impact on how much you pay. Explore your options.

Health

Health insurance is coverage that protects your well-being. This insurance will cover your expenses for health care. There are many types of coverage. Be sure to do your homework. Does a high deductible plan work best or will you be better off purchasing first-dollar coverage? Do you choose single coverage, spouse or other dependent coverage, or a family plan?

If you and your family are in good health, a high-deductible plan would work best when you team it up with a Health Savings Account (HSA) or a Flexible Spending Account.

In addition to health insurance, you will want prescription drug coverage, along with dental and eye coverage.

If you are 65, Medicare will be the coverage you will purchase. There are choices here as well. Do you sign up for straight Medicare or do you go with an HMO?  More choices, just make sure you do it by your 65th birthday or you will pay a penalty if you sign up late.

Umbrella

An umbrella policy will cover you for additional liability. This coverage will generally be in addition to the coverage you have with your homeowners and auto policy for liability coverage.

For example, if your liability coverage for your auto policy covers up to $100,000, an umbrella can increase that limit by a million.

As you build your wealth, this very affordable coverage will protect you should a claim arise.

Disability

This coverage will protect you should you become injured on the job. There are short-term and long-term coverages. What you buy will depend on what you do for a living. If your job is physical, such as construction, and you become injured, it is not likely you will be able to work, so you will want to have both short- and long-term coverage.

Many policies do not cover 100% of your wages, so understand what your benefit will be when you buy.

Long-Term Care

Long-term care coverage will cover you if the need to provide care arises when you will be in a nursing home. Many will need this service and coverage is available. The average cost of a nursing home is about $30,000 per year. The average time spent is about three years.

This coverage is best if purchased at age 60. The cost will be its most efficient at that age.

Malpractice

This coverage will insure against any potential liability that may arise from not performing to a specific level of service. This coverage is essential for doctors, nurses, lawyers and accountants, to name a few.

Limited Liability Company

LLC (Limited Liability Company) is a strategy that one can use to protect various assets. If you are a real estate investor, it may make sense to put various properties in an LLC. This will protect your other assets should an event occur.

As an example, if you had a real estate portfolio of $5 million, you may want to break down your assets into various LLCs. This will protect your assets if a case arose where only the assets in the LLC will be at risk. Assets outside that LLC will be protected separately.

Conclusion

The insurance market can be complicated. As always, do your homework. Do you need to purchase all of these coverages? Most likely no. Some of the answers will be determined by your overall financial well-being. Various coverages will be necessary at various times in one’s life.

The intent was to give you some direction as to the types of coverages available and what you will be protecting against. It is highly unlikely that you need to run out and buy coverages for everything discussed. Pick and choose where you can. Remember, the objective is to reduce your risk to yourself and your family.

Good luck!

You work hard for your money. Make sure it stays your money!

Thanks for reading. I hope you found this helpful. QCBN

By Steven Calabrese

Steven Calabrese, CPA, is the CFO of Polara Health. He is the owner-operator of a website known as thepersonalfinancewizard.com, where topics such as budgeting, investing, paying off debt and goal setting are discussed.

Pursuing Dreams Can Lead to Happiness, Satisfaction

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Everyone is trying to figure it out. Achieving your dreams may take time, and progress may come slowly.

Pursuing your dreams can add a lot of value and meaning to your life. When you have a clear vision of what you want to achieve and you take steps to make it a reality, you are more likely to feel a sense of purpose and fulfillment. This can lead to a greater sense of happiness and satisfaction in your life. Of course, the pursuit of dreams can also involve challenges and setbacks, but overcoming these obstacles can be a source of personal growth and development. The journey toward your dreams can teach you valuable lessons about resilience, determination and the importance of hard work. Following your dreams can help you create a life that feels authentic and fulfilling to you, and can contribute to a sense of overall well-being and happiness.

Going after your dreams can be a transformative experience. Here are a few examples of life-changing lessons:

  • It takes courage. Pursuing your dreams often requires stepping out of your comfort zone and taking risks. This can be scary, but it can also be incredibly empowering as you develop the courage to face your fears and take action.
  • You will never fail if you follow your heart. The road to your dreams may be bumpy and challenging, but overcoming obstacles and setbacks can build your resilience and inner strength. You will learn to bounce back from failure and keep going in the face of adversity.
  • There’s only one of you. When you pursue your dreams, you may learn new things about yourself and what you are capable of. You may also discover what truly matters to you and what you value most in life.
  • You won’t always feel excited. Pursuing a dream requires focus and dedication. You may need to prioritize your time and energy to stay on track and learn to say no to distractions that may derail you.
  • Everyone is trying to figure it out. Achieving your dreams may take time, and progress may come slowly. This can teach you the importance of patience and perseverance, and the value of small steps toward your goals.
  • Fear is not a stopping point. Be patient and kind to yourself. Your journey may not always be easy, but remember that each step you take brings you closer to your dreams and that in itself is a great accomplishment.
  • Planning means nothing without action. Action and hard work will be required in different parts of your journey. Celebrate the little wins along the way.
  • Live your purpose. Spend less time with distractions and more time embracing the present. Do more of what lights you up.
  • Your journey will look different from others. Strategies that work for someone else may be completely different for you. Find your own path.
  • Life is sweeter when you go after your dreams. Go after your dreams with all that you’ve got. Do the things that make you uniquely happy and fulfilled.

Remember that you are capable of achieving great things, even if it doesn’t always feel that way. Believe in yourself and your abilities, and don’t be afraid to seek support and guidance from others who can help you along the way. And most importantly, be patient and kind to yourself. QCBN

By Deanna Eder

Deanna Eder is the director of marketing at Polara Health.

How to Plan for a Comfortable Retirement  

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In retirement, a budget is more important than in pre-retirement as a guide to tell your money what to do.

When do you begin planning for retirement? Now is a good time to start. If you do not have a plan, it’s time to get started. The more time you have until retirement, the more wealth you can accumulate. We will present some options to consider.

Education

As we move into other finer aspects of preparing our long-term financial plan, we once again must understand all of our potential options. Preparing a long-term financial plan must include retirement planning, regardless of the amount of time until you hit retirement age. The retirement age will differ for everyone. The paramount question to ask yourself is: Did I do my homework?

Learn what you need to have a successful retirement. One’s age does not matter, except the further away from your retirement age, the more time you have to get your plan in order. Your plan will require periodic reviews to assess if you are on target. Adjustments must be made so that you can hit your goals and have a comfortable retirement.

What follows are some aspects you must address as you move closer to that magic age. This is not meant to be an all-inclusive list but a starting point for assessing where you are and where you want to go.

Budget

Thought you were done with developing a budget? In retirement, a budget is more important than in pre-retirement as a guide to tell your money what to do. If you need help putting together a budget, see our article “How to Create a Budget for Success” at  https://www.quadcitiesbusinessnews.com/how-to-create-a-budget-for-success/.

If you operate with a budget, this will require you to make some adjustments. The first question to ask yourself is: What do I not need in retirement?

Do you have two cars? Will you still have two cars? Insurance will be less with one car. Repairs could also be less. If you are no longer commuting, gas will be less.

What about life insurance? Are you still going to carry some? Is it necessary?

Go through your budget and ask if this expense will continue or how will this be different. With your retirement budget hot off the press, we now know what you will need to have a nice, comfortable retirement. Will your income support the budget or do you need to cut some expenses? Perhaps additional income besides the ones you have planned in retirement may be necessary. Be diligent. Make changes as assumptions become clear.

Taxes

This is a tricky topic to navigate. Tax laws are always changing. Unfortunately, we can only address what we know. Different states have different laws regarding retirement income and social security. Be careful, as taxes can and will reduce your disposable income. Perhaps you live in a state that has no state income tax or one that does not tax retirement income.

Sales tax is another tax you may look to avoid. A few states do not have state sales tax. In addition, if you stop working, Social Security and Medicare tax will not be paid by you.

As you begin to draw on your retirement nest egg, certain portions will be taxed by the federal government. For example, any withdrawals from your traditional IRA, 401K, etc., will be taxed by the federal government. In addition, you will be required to take RMD (required mandatory distributions) from traditional tax-deferred retirement funds. Any funds in Roth retirement, along with the earnings, can be withdrawn tax-free. Any pension you receive will be taxable.

As you can see, taxes can and will have an impact on your planning as well as your potential income.

Home Purchase

How is home ownership part of a retirement plan? Very simply, if your mortgage goes away, your housing costs are reduced. The costs needed for maintenance, electricity, insurance and HOA fees now become your housing costs.

If you are entering retirement renting or paying a mortgage, then your costs will be higher. Eliminating your mortgage before retirement and not renting will increase your disposable income. Either way, this could have a big impact on the budget.

If you have been following and building your financial plan, then you should have this under control.

Investing

Planning for this time by funding your retirement accounts at a level of 15% of your income will afford you to have accumulated a handsome nest egg. Retirement is what you have been planning for over these years.

Where is your nest egg? Do you have a traditional, Roth, 401(k), 403(b), 457, or pension? Some may even have a taxable investment account.

It’s time to review your portfolio. Where are your funds invested? Do you want to continue with the same strategy that was used before your retirement? Alternatively, will you change strategies? The overall objective is for your money to last longer than you may live.

Social Security, Medicare

This is where things can get tricky. There are many different variables of which to be aware. At what age will you begin to collect Social Security? What is your FRA (full retirement age)? Hint: it is not 65. FRA is generally between 66 and 67, depending on your year of birth and if further changes to the law are not made.

Be aware that a married couple collecting under the primary wage earner will have some significant income adjustments should one of them pass on. A spouse can collect about half of what the primary earner collects. Upon the death of one partner, the other partner’s benefit would stop. Only the higher benefit will survive. For example, for a married couple collecting Social Security under the primary wage earner, earnings will collect the primary wage earner’s benefit plus about one-half for the spouse’s regardless of earnings. Upon the death of either spouse, the lower benefit will stop.

Medicare, on the other hand, is available at 65. This is important because if you miss the window to sign up, you may find yourself paying a penalty for the rest of your life. So, get this on your calendar and sign up in a timely manner. What type of plan will you sign up for? There are many choices, so begin your research several months before you become eligible.

Estate Planning

So, you spent your entire life planning for retirement, you have done everything right and are enjoying a nice, relaxing time in your twilight years. Now what? What will happen to your assets when you pass on? Who will inherit them?

Make sure you have a will. Make the will as explicit as you want. Who will be your executor? Who will get what assets? Decide now; please, do not ignore this because if you do, the state will decide. Name primary and secondary beneficiaries on all your accounts. This is an area often overlooked. If you love your loved ones, leave a will. A will is nothing more than your final instructions as to how you want your lifelong financial achievements distributed after you pass on.

Conclusion

You thought you would turn 65 and life would be simple. Think again. Some of the items discussed above will help you make your way through the retirement maze. As you begin to create your retirement plan, reach out for expert help.

If you have an investment advisor, tax advisor and attorney in your current brain trust, reach out to them to guide you through the technical pitfalls.

Good luck!

You work hard for your money, make sure it stays your money!

Thanks for reading. I hope you found this helpful. QCBN

By Steven Calabrese

Steven Calabrese, CPA, is the CFO of Polara Health. He is the owner-operator of a website known as thepersonalfinancewizard.com, where topics such as budgeting, investing, paying off debt and goal setting are discussed.

Have You Considered Volunteering in Your Community?

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Volunteering can help seniors to stay active and maintain physical and mental health.

Volunteering is an important way for senior citizens to stay connected and engaged in their communities. It not only provides an opportunity to give back, but also helps seniors to maintain social connections, stay active, and continue to learn and grow.

One of the main benefits of volunteering for seniors is the opportunity to socialize and make new friends. According to a study by the Corporation for National and Community Service, older adults who volunteer have higher levels of social connectedness, which can help to combat feelings of isolation and loneliness.

Loneliness is a growing public health concern that affects individuals of all ages and backgrounds. Loneliness is defined as a subjective feeling of social isolation, and it can have a significant impact on an individual’s physical and mental well-being. Studies have shown that loneliness is associated with an increased risk of chronic health conditions such as heart disease, stroke and Alzheimer’s disease.  It can also lead to depression, anxiety and suicide.

To combat loneliness, it is important to prioritize social connections and make an effort to build and maintain relationships. This can include joining clubs or groups that align with your interests, volunteering in your community, and spending time with friends and family. It is important to engage in face-to-face interactions.

Volunteering can help seniors to stay active and maintain physical and mental health. Volunteering can also provide an opportunity for seniors to continue to learn and grow by taking on new challenges and learning new skills.

A few benefits to volunteering in your senior years include:

  • Keeping mentally and physically active by providing a sense of purpose.
  • Building new connections and friendships.
  • Staying engaged in the community.
  • Improving physical and mental health.
  • Making a positive impact, giving back to your community and others.
  • Keeping skills sharp and learning new skills.
  • Reducing stress and loneliness.

Polara Health’s Senior Peer Program is a volunteer-based community outreach program for isolated seniors. The program is designed for ages 60+ and encourages connection. The Senior Peer Program also provides FREE community support groups for blind/low vision, a men’s group, a women’s group and a mindful meditation group. A grief and support group is in the planning process and will be added shortly.

Senior Peer Program Manager Melanie Jacobson is growing the program based on our community needs. “Our senior population is a vulnerable population and our goal is to combat loneliness and isolation and to increase happiness and connection,” she said. Polara Health’s Senior Peer Program is in need of volunteers! QCBN

By Deanna Eder

To learn more, please to go www.polarahealth.com or contact Melanie Jacobson at m.jacobson@polarahealth.com or 928-445-5211 ext. 2035.

Starting off in 2023, Melanie will teach a workshop called “The Seven Habits of Happiness” on Feb. 15, at the Prescott Library. We have collaborated with United Way of Yavapai County to provide this workshop. For more information or to register, go to www.yavapaiuw.org and register on the Events page. This is a free event available to all in our community.

Deanna Eder is the director of marketing and communications with Polara Health. www.polarahealth.com.

Maximize Tax Savings with Health Benefits

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As you can see, learning a few simple tax tricks can save you a bundle by reducing your tax liability and putting more money in your pocket.

Many employer-sponsored health plans offer a variety of options all focused on reducing your tax liability. Health plan premiums are generally paid with pre-tax dollars, reducing your tax liability. The type of plan you choose can have other tax savings benefits.

Flexible Spending Account

A Flexible Spending Account (FSA) can be used to pay for dependent care as well as medical expenses. Contributions are made pre-tax, reducing your tax liability. If you plan on using it for dependent care, make certain your employer has set it up that way.

Contributions up to $5,000 per family/household can be made for dependent care. For 2023 contributions, up to $3,050 can be made for medical expenses. In addition, up to $610 maximum can be rolled over if your employer plan permits. Check with your HR team to determine specific rules for your employer-sponsored plan.

Dependent care is defined as a pre-tax benefit account used to pay for eligible dependent care services, such as preschool, summer day camp, before or after school programs and child or adult daycare.

In addition to savings on income taxed, you will also save on social security and Medicare tax.

The potential of a childcare tax credit also exists and varies by individual. Check with your tax professional to determine which may be the most advantageous.

The ability to estimate your costs is the most challenging because if you do not use all the funds, you will lose them. There may be an ability to roll over up to $610. This may vary by employer and, again, check with HR.

The rules specify that these limits are family limits. For example, if a husband and wife both have an FSA available, the limit is combined, rather than a separate limit for each spouse.

Again, do a little digging educate yourself and save some taxes.

Health Savings Account

A Health Savings Account (HSA) is similar to an FSA but has some additional benefits not available with an FSA. One important difference is any amounts not used can be rolled over and used in future years. The family limits apply here but the limits are higher.

The HSA limits for 2023 are $3,850 for a single individual and $7,750 for a family. An additional $1,000 is permitted as a catch-up contribution for those over age 55. Again, this is a family limit, a married couple would be capped at $7,750.

Any unused amounts are rolled over to be used at some point in the future. In addition, when your account reaches a certain amount, usually around $3,000, you will be eligible to invest the amount over that amount, essentially acting as a retirement account. These funds can be used in retirement.

All expenses must be for qualified medical expenses. The IRS allows you to deduct unreimbursed payments for preventative care, treatment, surgeries, dental and vision care, visits to psychologists and psychiatrists, prescription medications, appliances such as glasses, contacts, false teeth, and hearing aids, and expenses that you pay to travel for qualified medical care.

HSAs are only available with high deductible plans. It can be a way to fund your deductible and other out-of-pocket expenses.

Once you become eligible for Medicare, you are no longer eligible to fund an HSA. However, the premiums for Medicare can be made from your HSA. This benefit is available only for Medicare and other expenses during retirement. All expenses are paid from your account and are tax-free.

An HSA allows you to make contributions pre-tax, earnings grow tax-free and payments for qualified expenses are paid with these tax-free dollars. If you find that you do not need these funds, you can withdraw them penalty-free after age 59-and-a-half and pay the taxes on the withdrawal, similar to a traditional IRA.

Save More Money

As you can see, learning a few simple tax tricks can save you a bundle by reducing your tax liability and putting more money in your pocket.

For more tax-saving tips, please fine last month’s article at https://www.quadcitiesbusinessnews.com/how-to-minimize-taxes/

Begin to educate yourself, get professional help and save tax dollars.

Good luck!

You work hard for your money, make sure it stays your money! QCBN

By Steven Calabrese

Steven Calabrese, CPA, is the CFO of Polara Health. He also is the owner-operator of a website known as thepersonalfinancewizard.com. Such topics as budgeting, investing, paying off debt, and goal setting are discussed.

How to Minimize Taxes

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Begin to educate yourself, get professional help and save tax dollars.

This is not meant to be an all-in total tax guide, but rather some valuable high-level education on taxes to help you dig deeper and minimize your tax liability. As every situation is different, a tax expert should be consulted.

The best place to start is to begin to educate yourself as to how may be the best way to reduce your tax liability. Do you feel that you overpay? Do you do any tax planning? What is the potential impact of taxes on retirement? Investing? Estate planning? Do you know how much you are paying in taxes?

Taxes and Your Take-Home Pay

It’s that time of the year again to file your taxes. If you are expecting a refund, remember, this is not a gift. This is your money.

Eighty-five percent of American households live paycheck to paycheck. Perhaps you are living paycheck to paycheck making ends meet, borrowing on your credit card to put food on the table, then getting a tax refund. Think about this: If you are borrowing from your credit card and paying 18 to 24% and then getting a refund for overpaying your taxes, this is poor financial planning.

Here is the one thing you can do right now to increase your take-home pay and eliminate a tax refund or perhaps a potential tax liability. As your income is the number one wealth-building tool available to you, we need to make sure you maximize your take-home pay, whether you are self-employed or working for someone else.

This is a very simple tactic and the IRS actually has a calculator. I have been using this strategy for a number of years. My refund or liability to the government is always small. I just want to pay what I need to pay not any more or any less.

Here is a step-by-step guide to calculate your liability and have the proper tax withheld using the Tax withholding Calculator: https://thepersonalfinancewizard.com/tax-withholding-calculator/.

Real Estate
Buying a home is the largest purchase one will likely make during a lifetime. The American Dream is to own your own home. Many folks focus on this goal, but do they take advantage of the rules to maximize returns?

Price appreciation is one of the advantages of home ownership. This increase in value can be taxable if you do not handle it correctly. Gains from a potential sale could be deferred if you purchase another home for greater value. Even if you decide not to purchase another home, gains up to $500,000 for married couples could be exempt from taxes.

Retirement Planning
The most tax-efficient instrument to use for retirement wealth accumulation is a Roth IRA or 401k.

Why Roth? All contributions are made with after-tax dollars. It is these after-tax dollars that will then grow tax-free. Yes, you can accumulate your wealth tax-free. Is there a better way than tax-free?

Imagine if you contributed 15% of your income to a Roth for 20 years.

Wrapping Up
As you can see, learning a few simple tax tricks can save you a bundle. The tactics discussed above are just the beginning. There are other tactics that can save you more.

Begin to educate yourself, get professional help and save tax dollars.

Good luck!

You work hard for your money, make sure it stays your money!

Thanks for reading. I hope you found this helpful. QCBN

By Steven Calabrese

Steven Calabrese, CPA, is the CFO of Polara Health. He also is the owner-operator of a website known as thepersonalfinancewizard.com. Such topics as budgeting, investing, paying off debt, and goal setting are discussed.