For Financial Professionals

Over the last several decades, the financial services industry has maintained one steady focus: accumulating investor wealth for retirement through 401(k) plans, IRAs, and IRA rollovers. Overall, this approach has worked very well, but that paradigm is changing as the majority of advisors’ clients age into retirement.

Advisers now need to help clients figure out how to use existing financial products and strategies to create income in retirement, which involves discussing topics such as: Medicare, long-term care, Social Security and the rules and regulations associated with these programs. A recent survey among financial advisors showed that more than half find it “challenging” or “very challenging” to have these conversations. While financial advisers don’t need to become experts in all of these areas, they do need to know the right questions to ask and where to seek answers for themselves and their clients.

HealthView Service’s program has been designed to provide these answers.

Personalized Healthcare Cost Analysis for Clients

The HealthWealthLink system is designed to guide advisors through a simple profiling process which will produce accurate healthcare and long-term projections for a client. An advisor inputs the client’s responses to few questions such as age, gender, health, income range and state of residence (in retirement). A personalized expense report is instantly created which includes:

Longevity Projections:Based on the client’s answers to key health questions, life expectancy is calculated.

Medicare and Long-Term Care Expense Projections:“What if” scenarios can be run in real time, allowing clients to see the cost differ¬ences in the options they have selected for:

Health insurance cost calculations, including premiums and out-of-pocket costs
• Medicare Part A (hospital), Part B (doctor visits and tests)
• Medicare Part D (prescriptions)
• Medigap (supplemental insurance)

Long-term care options, by metro area
• At home care
• Assisted living
• Skilled nursing (nursing home care)

Identifying Funding Solutions

Once the expenses for health insurance and/or long-term care have been calculated, a variety of possible funding sources is presented to cover these costs.

Social Security and Pension Income Calculators: Social Security and pension income calculators are available for use as a potential source of funding future healthcare costs.

Customized Dashboard of Additional Investment or Insurance Funding Solutions:The funding sources presented will be customized to feature a set of products selected by each advisory firm. These funding sources can include products such as: mutual funds; annuities, life insurance; long-term care insurance, etc.

Interactive Illustration System: Allows financial advisors and their clients to run “what if” scenarios and to immediately see how an initial investment in a selected product reduces the projected costs.

Personalized Client Report: A comprehensive, easy-to-understand report is produced providing all the information needed to allow the client to make educated investment decisions.

Benefits of Partnering with HealthView Services

Advisors who subscribe to the HealthView Services program will start to realize several benefits immediately.

Fast Return on Investment:Feedback from advisors currently using the system indicates that providing this information increases client satisfaction by reducing their anxiety about the uncertainty of healthcare costs. They say that it also generates a quick payback on their investment: one ticket more than pays for the annual software license.

Branded Customized Software Service: Our software is not sold as an off-the-shelf application; it is completely customized and branded to the firms that license the system.

A Variety of Ways to Run the Data: Healthcare cost data and reports can be produced as a complement to financial planning reports. Or data can be imput directly into any financial planning system.

Accessibility via iPad App: An ipad app is available for use anytime, anywhere. Available in two modes: with or without wireless access.

Online Training Sessions: Training will be made available via a series of scheduled webinars, and/or by viewing a video tutorial posted at the Broker-dealer website.

Topics will include:
• How to use the system
• Investor talking points
• Client success stories
• Education on Medicare, Long-Term care and Social Security

Client Marketing Support: The following materials are also provided for clients:
• Lead generation letter and/or email to introduce clients over age 50 to the healthcare cost analysis
• A guide which describes the key healthcare issues that Baby Boomers are facing, and features a typical problem/solution illustration
• A simple “one-click” calculator designed to drive inquiries from your clients, which can be posted on a website
• Client seminar designed to educate consumers on how to plan for Medicare and optimize Social Security income
• Content for client newsletters on the latest ways to capitalize on healthcare and Social Security programs in retirement