The Healthcare tab allows you to model the projected healthcare costs of the household over the course of the plan. Projected Medicare premiums, out-of-pocket and commercial premiums can be included.
Figures for all categories other than Part B are personalized to the clients’ state of residence, gender, longevity projections and medical conditions entered in the Clients tab.
Part B and D are premiums used in the calculation of IRMAA surcharges based on a 2-year lookback of Modified Adjusted Gross Income (MAGI) thus must be included for proper IRMAA projection.
A focused annual illustration of projected healthcare costs is found in the Healthcare view under the Spending tab.
The Healthcare table has a row for each coverage selection, showing their projected Future Value and Present Value.
Clicking the 👁️ icon in a row will toggle whether the coverage selection is included or excluded from the plan scenario. Cost projections for one category may change when another category is excluded or included. For example, opting out of Part D will cause Out of Pocket costs to rise due to the assumed increased cost of prescription drugs borne by the client without a Part D plan.
Part B is assumed to begin when each client turns 65. The estimated changes in Part B premiums for the coming eight years is based on projections published by the Congressional Research Service. For nine years and beyond, a proprietary cost inflation estimate is performed by HealthView Services.
Part D is assumed to begin when each client turns 65. Part D costs reflect the price of the most commonly purchased “Plan G” in the clients’ specified state of residence.
Medigap is assumed to begin when each client turns 65. Medigap costs reflect the price of the most commonly utilized supplemental plan in the clients’ specified state of residence.
Out of Pocket will run from today onwards and is based on observed costs from HealthView Services‘ vast database of medical claims data and personalized to the clients’ attributes.
Commercial will run until each client turns 65. It is based on the average cost of an ACA marketplace “Gold” plan in the clients’ specified state of residence.
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