Health is one of the most significant elements that influence one's wellbeing. Regardless, in a country where quality healthcare is mainly dependent on whether individuals can earn enough to pay for healthcare services and lead a healthy lifestyle, it would be right to conclude that one's wealth is likely to be proportional to the level of healthcare they can access. The health disparities in Latin America point to the disproportionate level of poverty among these demographics. One of the most significant structural issues in Latin America is inequality. At a professional level, the interrelation between health and wealth can be exemplified by Latino Professionals income and their inability to afford different healthcare services. Most of them earn less than their white counterparts, hence, healthcare-related issues in this population. According to the Centre for America Progress, tipped Latina Workers earn approximately 65% less than their white non-Hispanic counterparts who are not tipped. Additionally, an article published by the Economic Policy Institute in 2017 espouses that Latina workers had to work ten months into 2018 to earn the same amount as white non-Hispanic men. Income that could be used to pay for insurance or manage nutritional disorders is therefore limited in this population. In the end, Latino's poor health outcomes are mainly because of disparities in wealth as influenced by low income among professionals on different levels. The most important question here, however, is whether it is all Latinos who are affected by poverty and hence healthcare access. The real-life situation as exemplified by Latinos, health compared to their wealth indicates that health and wealth are correlated in that growth in wealth is associated with improved health outcomes and equally, improved health outcomes position individuals better to achieve better socioeconomic goals.
Personal perspective is that there is a significant interrelation between health and poverty. Individual's ability to afford healthcare services, prescription drugs or even live a healthy life and in an environment that influences positive health outcomes is drastically reduced among poor communities. An opportunity cost has to be done on basic needs because of the lack of money to satisfy the dynamic needs. Poor individuals are likely to prioritize elements that make life bearable, for example, food and shelter. Without money, one cannot afford expensive health insurance, an individual is likely to be stressed about the situation; hence such individuals are predisposed to physical and psychological disorders. The reason for this point is influenced by Maslow's hierarchy of needs whereby psychological needs are first satisfied by employees in a particular organization before other less necessary needs such as security and self-actualization are satisfied.
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The different dynamics related to poverty, such as the inability to afford a balanced diet, lack of rest, and not being able to pay for healthcare services, negatively affect individuals' health. Lynch et al. (2004) assert that" The relationship between income and health at the individual level involves more than poverty". The intricacy of the issue is influenced by how wealth affects the different aspects that affect health outcomes. Lack of money negatively affects one's psychological, emotional and physical wellbeing. Purnell (n.d.) says that in 2015, the most significant worry among different demographics was money. This is when compared to family needs, work and health-related needs. It is undeniable that constant anxiety and possible depression about managing one's bills could set in without money. Psychological instability could influence mental health issues and weakens an individual's immune system, increasing their susceptibility to different healthcare issues, most of which are comorbid. This is made worse when health conditions that manifest are not well managed because such individuals are unlikely to be in the best position to access quality healthcare.
Social-economic status, especially among the minority, can explain poor healthcare outcomes among these demographics compared to their white counterparts. One of the most pertinent issues put forward by Smith (1999) is " Are healthier households' wealthier ones simply because higher incomes lead to better health? Or does poor health restrict a family's ability to accumulate assets by limiting work or through rising medical expenses?" While there could be discrepancies that limit the explanation of whether healthier households are so because of the wealth that enables them to take care of healthcare dynamics, poor households' alternatives to healthier lives are certainly limited. Investment in assets is often among the least consideration, given that such families have more pressing needs, for example, food and healthcare. A wealthy person has the financial muscle to feed themselves, dress and live in a desirable location. Therefore, they are likely to evade health ills that arise from poor nutrition and lack of sanitation. Among these demographics, multidimensional aspects affect their health; hence, social policies are unlikely to alter the situation. It is worth noting that people from poor backgrounds experience healthcare problems at a young age. Choi et al. (2015) espouse that children who experience toxic stress are likely to have developmental issues during adolescence and early adulthood. Stress caused by lack of food, for example, could be traumatic for a child when they grow up. When development at an early age is impaired, one's ability to diligently work in the future to ensure they lead a healthy life and afford healthcare is likely to be affected.
Personal core values, particularly diversity and inclusion as well as open-mindedness positively influence my thinking into the different aspects that influence the health of the less wealthy. Being open-minded has influenced my thoughts on intricate aspects such as nutritional needs, mental health, and physical health issues, especially when the affected individuals have little to no means to counter these social problems. As an individual who embraces diversity and inclusion, I have had to think of the impact poverty has on the health outcomes of the minority, and the vulnerable in society, for example, women and children. The values have reinforced my understanding that the poor are affected by a chain of events that finally lead to poor health outcomes in several instances. My perspective has been altered into thinking that it is not only the inability to afford healthcare that is an issue. When poverty predisposes one to violence, for example, this could lead to poor mental health.
In conclusion, there is a subtle relationship between wealth and health. Health and wealth are correlated in that growth in wealth is associated with improved health outcomes, and equally position individuals better to achieve better socioeconomic goals. Latinos exemplify a community with disproportionately negative health care outcomes. The social-economic status of many influences them to take of the most pressing needs, which does not include healthcare needs. Health is not only affected by the ability to afford medication but also anxiety about where to get money. Given how multidimensional the social problem is, personal core values, such as being open-minded and embracing diversity and inclusion, have influenced my view on the vulnerable population's healthcare needs, such as the minority. Regardless of how intricate the issue is, all stakeholders need collaboration to ensure the diverse elements that directly or indirectly influence wealth levels, and hence individuals health are appropriately taken care of.
References
Choi, L., Erickson, D., Griffin, K., Levere, A. & Seidman, E. (2015). What it’s Worth: Strengthening the financial future of families, communities and the nation. Federal Reserve Bank of San Francisco and CFED.
Lynch, J., Smith, G. D., Harper, S., Hillemeier, M., Ross, N., Kaplan, G. A., & Wolfson, M. (2004). Is income inequality a determinant of population health? Part 1. A systematic review. The Milbank Quarterly , 82 (1), 5–99. https://doi.org/10.1111/j.0887-378x.2004.00302.x
Purnell, J. Q. (n.d.). Financial health is public health. What it’s Worth. http://www.strongfinancialfuture.org/essays/financial-health-is-public-health/
Smith J. P. (1999). Healthy bodies and thick wallets: the dual relation between health and economic status. The Journal of Economic Perspectives: a journal of the American Economic Association , 13 (2), 144–166.
