HIGH PRICE TO PAY
A George Washington University study added up the medical, disability and lost-productivity costs associated with obesity. The researchers came to this conclusion: Being fat costs a ton of money.
The individual cost for being obese is $4,879 a year for women and $2,626 for men. If a woman invested that much every year over a 40-year working career, she'd have more than $1.2 million at retirement, assuming 8% average annual returns. The man would have nearly $700,000.
Obesity carries dramatically higher costs than merely being overweight. The researchers found the annual costs of being overweight are $524 for women and $432 for men. "Overweight" is defined as a body mass index (BMI) between 25 and 29, while those with a BMI of 30 or higher are considered obese.
The researchers didn't capture all the costs of obesity. For example, they didn't factor in the extra airplane seat many people of size have to buy to travel comfortably — or the opportunities to travel they simply skip to avoid the hassle.
Also, the annual costs don't reflect what people actually pay out of pocket. Medical costs make up a big chunk of the total — 66% of weight-related costs for women and 80% for men — but insurance may cover much of the expense.
But obesity is also associated with higher rates of disability, which often leads to lost wages and earlier-than-normal retirements.
Obese workers had a 76% increase in risk for short-term disability compared with a normal-weight employee, the researchers found. (The risk rose 26% for overweight workers compared with their normal-weight colleagues.) Obese employees were more likely to suffer from long-term disabilities and to retire early. Early retirement results in lost wages and lower retirement benefits for most workers.
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Information like this can really confirm that taking charge of your health is not only smart, but fiscally responsible as well. Read the full article here:
http://money.msn.com/saving-money/what-being-fat-is-costing-you-weston.aspx?gt1=33029
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