THIS February is REDFEB, heart awareness month.
In addition to encouraging people to wear red and donate, Heart Research Australia is raising awareness about how Australians can take control of their cardiovascular well-being without breaking the bank.
Heart disease doesn’t discriminate based on your income.
Whether you’re a millionaire or living on a tight budget, taking care of your heart is paramount.
“Heart disease affects 2 in 3 Australians and still remains our leading cause of death. Prioritising heart health is an investment in your future, both health-wise and financially,” says Nicci Dent, CEO of Heart Research Australia. “The financial implications of heart disease are not just limited to medical costs. Recovery from heart attacks often leads to lost wages, reduced work capacity, and hindered career advancement, due to the physical and mental effects of the condition. Furthermore, higher health insurance premiums and the rapid depletion of retirement savings pose long-term financial challenges.”
As the cost of living continues to rise, budgeting for health can often seem like a luxury. However, the financial implications of ignoring your heart health can be far more severe in the long run. In 2019–20, a staggering $12.7 billion was allocated to cardiovascular disease (CVD) in the Australian health system, representing 9.1% of the total expenditure. Furthermore, over two-thirds of this CVD expenditure, equivalent to $8.8 billion, went toward hospital services.
“It is concerning, but not surprising, to hear that there has been a substantial decline in household spending on health insurance since interest rates began to rise. In June 2023, this expense was 10 percent lower compared to the previous year. In the midst of the current economic climate, it is imperative to seek out cost-effective methods to safeguard your heart – as heart disease can impact anyone at any time,” she said.
