The biggest mistake being made currently by Financial Advisors and clients is failure to plan for future Healthcare expenses. This failure of planning will likely consume the retirees Social Security income. The Medicare IRMAA Calculator can alert Advisors and clients if a crisis looms.
The Social Security and Medicare systems are becoming a convoluted disaster that are on track to completely destroy Baby Boomers’ retirements.
Here is a quick overview of what is happening.
Social security has been receiving less money in funding than they are promising to shell out in benefits. At the same time, Medicare premiums have been rising. According to figures pulled from Social Security Administration, Social Security benefits are set to increase at a rate of ~2.8% (source), while Medicare premiums are expected to rise at a rate of ~7% (source). That means Medicare costs are set to increase at more than double the rate of Social Security benefits! Because Social Security and Medicare are intertwined programs, A person’s Medicare premiums are paid by taking money from there Social Security benefits. Using the government’s projected rates, we have found that a major portion of many Retiree’s Social Security benefits will be eaten up by Medicare costs. This travesty will likely leave them destitute in their old age!
But that's not all.
Even people who have put their money in other retirement accounts such as 401(k)s are in a position to be broadsided. Medicare premiums are calculated based upon your income. People who make more money are expected to pay higher premiums to make up for those who cannot. This is referred to as IRMAA. Many Retirees think this won’t affect them because, “They will make less money now that they are not working.” Unfortunately, if the government can tax it, they consider it income. Many traditional retirement accounts, investments, and properties are taxable. This means that the government views these individuals as having higher incomes and raises their premiums. These raised premiums can completely swallow all social security benefits and leave an individual owing the government money!
The unpleasant message here is that if Medicare costs were not properly factored into a retirement plan, that retirement plan could very well be worthless.
How IRMAA SolutionsTM will help you solve this issue
When we discovered this overlooked monstrosity, we set about to correct it.
We gathered the world’s foremost experts on this issue with the goal to raise awareness, create a streamlined way to accurately predict future health care costs, and provide solutions on how to drastically reduce them.
The result of this effort was IRMAA Solution’s Medicare IRMAA CalculatorTM. . The game changing software that allows you to quickly, easily, and accurately project retiree’s Medicare costs.
Using this software is a breeze.
Do you want to see just how simple to use this software really is?
With the Medicare IRMAA CalculatorTM, you can expect to:
Click the link to obtain your license for Medicare IRMAA Calculator so that both your clients and your bank account can live happily ever after!
Do you want some reassurance before you claim your access to this software? Checkout these testimonials from other professionals who have found success using Medicare IRMAA Calculator in their business!
I know it helped in $870,000 of life premium!
3 Advisors hired since October 2020
3mm new AUM 1.5mm in transit
$68,000 life commissions since September 2020
$442,000 annuity premium