65 Incorporated Rolls Out Medicare Planning Software for Advisers

The i65 suite of software products enables financial advisers to help clients with some of their most consequential retirement decisions.

By DJ Shaw

The Medicare professionals at 65 Incorporated have announced the launch of i65, a suite of unbiased software tools that enable financial advisers to help clients optimize their health care experience in retirement.

“Look at any retirement planning study: Across the board, healthcare costs are clients’ number one concern,” says 65 Incorporated co-founder Melinda Caughill. “Savvy advisers are beginning to realize that optimizing Medicare—with a technology partner that doesn’t sell insurance and, thus, can act as an unbiased fiduciary—is good for their clients and good for their practice.”

The i65 Medicare planning software comprises three separate modules that help advisers engage their clients in meaningful conversations to evaluate and optimize their health care in retirement: the i65 Needs Assessment, the iEstimate and the i65 Medicare Roadmap.

The i65 Needs Assessment introduces the topics of health care, Medicare and long-term care to clients well before Medicare or retirement begins. With this customized report, clients learn about the most common and costly mistakes people make in similar circumstances. Then, advisers and clients work together to identify and plug any holes in retirement planning—like Social Security, long-term care, estate planning and legal and family issues.

The iEstimate combines detailed personal information provided by the client with actuarial data models to estimate longevity as well as health care and long-term care costs and needs in retirement. Through the i65 system, advisers can run multiple iEstimate reports to compare best- and worst-case scenarios.

The i65 Medicare RoadMap is ideal for people approaching Medicare eligibility. Through the process of creating a RoadMap, advisers help their clients determine the best time to enroll in Medicare, as not everyone needs to enroll in Medicare at age 65, and the best type of Medicare coverage for their unique needs. The final report includes specific step-by-step instructions for enrolling—or delaying coverage without jeopardizing future benefits—as well as guidance for living with Medicare in the future.

The i65 software suite has three different plan levels designed to accommodate the needs of small, medium and large advisory businesses. Training for advisers is provided at no additional cost.