DANVERS, Mass., April 16, 2015 /PRNewswire/ -- HealthView Services, a proud supporter of National Retirement Planning Week®'s first Health Care in Retirement Planning Day on April 16, today launched new consumer-oriented retirement health care planning tools to help Americans incorporate health care costs into retirement plans, as well as a new HealthView Insights Paper, "Closing the Retirement Health Care Costs Planning Gap: The Next Retirement Planning Challenge."
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 Ron Mastrogiovanni, Founder and CEO of HealthView Services, the leading provider of health care cost data to the financial industry. "Our health care costs calculator draws upon more than 50 million health care cases and a broad range of data points to provide a comprehensive perspective on the expected health care costs retirees will have to pay for out of their own pockets."
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 (April 13-17) is led by the National Retirement Planning Coalition, a group of prominent education, consumer advocacy and financial services organizations that have joined together to promote and increase awareness of the need for comprehensive retirement planning.
HealthView Services (http://www.hvsfinancial.com) is the leading provider of retirement health care planning applications that include Medicare, long-term care and Social Security optimization. HealthView believes that a health care cost savings strategy should be a foundational component of retirement planning. The company's methodology initiates advisor/client conversations that ultimately lead to retirement income optimization.
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.
SOURCE HealthView Services