Need assistance with data entry? RightCapital is here to help! Please use the common questions and answers below to assist you in generating financial plans. For additional assistance use the link to our support team at the bottom of the article.
When adding retirement health care costs to a plan, a national average will be used as a starting point. $5,709 will be the current average cost for a hypothetical individual retiring in 2026 at 65 years old. Health cost data is provided by Milliman.
You will also have an option for a detailed estimate which will base Medicare premiums for parts A and B off the client’s AGI or a fully customized input.
RightCapital will calculate IRMAA penalties on Medicare premiums as long as the retirement medical expense goal is set to “detailed estimate”. The detailed estimate will adjust Medicare premiums based on the client’s AGI, while the national average amount is static.
No, the Retirement Healthcare Cost will be a separate entry. It is important not to include this cost in the retirement monthly expenses section to avoid double counting expenses.
The Retirement Health Care Cost data card will inflate based on the health care cost inflations found within the Advisor Portal > Assumptions > Inflation assumptions tab. The default is to increase health care costs by 5% annually.
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