The new free tools give consumers the ability to better understand expected health care costs in retirement, long-term care costs and future retirement savings. By inputting basic information including age, gender, health status and location, consumers will receive a comprehensive report detailing average costs for people in similar circumstances and comparisons to expected future lifetime retirement income.
"The new consumer-focused planning tools leverage our actuarial and medical professional reviewed approach to calculate expected retirement health care costs for broker-dealers, insurers and the advisor community," said
The new calculators complement HealthView's highly-sophisticated planning tools currently in use by major companies and a growing number of advisors to help clients plan for, manage and even reduce future retirement health care costs. They are expected to encourage more individuals to engage with advisors to discuss how these expenses can be built into existing retirement plans, and support the development of high-value planning and product optimization strategies to manage and reduce total lifetime health care costs.
HealthView's new Insights paper is focused on helping close the retirement health care planning gap. The paper, which follows the recent publication of the company's "2015 Retirement Health Care Costs Data Report," highlights a number of reasons why, despite the concerns that are being expressed about retirement health care costs by consumers and advisors, many have yet to build these costs into retirement plans. Outlining a number of simple retirement planning steps and questions that need to be asked, using case studies, it underscores the benefits of incorporating health care costs into the retirement planning process.
"This new paper builds on the comprehensive range of materials and information we have developed for the financial industry and consumers around retirement health care," added Mastrogiovanni. "The take away from this work is that while total lifetime health care costs will be higher than many expect, if planned for early enough, these costs are manageable. By incorporating them in planning during working years, we believe retirees will be better positioned to make informed planning decisions and realize the retirement security they seek."
Held during financial literacy month, National Retirement Planning Week (
HealthView Services (http://www.hvsfinancial.com) is the leading provider of retirement health care planning applications that include
HealthView Services' HealthWealthLink is an integrated retirement planning platform that draws upon cost data from more than 50 million annual health care cases to assist financial advisors in preparing personalized estimates of retirement health care costs. The platform provides advisors with the tools necessary to implement various strategies to achieve clients' retirement goals.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/healthview-services-launches-consumer-oriented-retirement-health-care-planning-tools-and-white-paper-closing-the-retirement-health-care-costs-planning-gap-300067127.html
SOURCE HealthView Services