Retirement Healthcare Expense Analysis

Savvy Medicare members may use this online tool to estimate a client’s health care expenses in retirement based on the client’s current age, retirement age, and life expectancy. Specifically, this tool may be used:

  • To help clients budget for health care expenses in the first year of retirement.
  • To help clients understand the total amount of Medicare and supplemental insurance premiums they can expect to pay over their lifetime (this may be a shock to pre-retirees who are used to having free or low-cost employer coverage).
  • To use as part of the “when should I retire” discussion by giving clients a more complete look at their health insurance costs throughout retirement.
  • To raise the question of long-term care and explore the various options with the client. The report will show that the cost of insurance is less than the cost of care and may support the idea of purchasing the insurance.

Not a Member? Click here to learn more about our Savvy Medicare Planning for Boomers program.