“Bridging the Gap: The Vital Intersection of Healthcare and Financial Planning” with Christine Simone - Episode #20 of NAPFA Nation

NAPFA Nation Podcast

In Episode #20 of NAPFA Nation, Christine Simone, founder and CEO of healthcare software company Caribou, and host Marie Swift delve into the vital intersection of healthcare and financial planning. As they explore the significance of healthcare in financial strategies, especially during pivotal life events like retirement, divorce, and job changes, Simone emphasizes the need for advisors to be well-informed about health plan options and Medicare. The conversation highlights the complexities of Medicare, advocating for advisors to initiate discussions with clients at least a year before they reach 65. With a focus on enhancing advisors' educational resources, the episode also teases a resource to help advisors with crucial information for navigating healthcare options: the upcoming Survival Guide for Open Enrollment, set to launch in November. The discussion includes an introduction to Caribou’s healthcare planning software, designed to bridge the gap in comprehensive financial tools addressing healthcare costs.

In a nutshell:

• The Medicare decision-making process can be complicated
• Software can decision-making for health plan selection and Medicare options
• Retirement is a common life event where healthcare is discussed
• Early retirement (before 65) poses challenges due to high insurance costs
• Advisors need education on health plan options and Medicare
• Holistic financial practitioners are now including additional aspects in financial plans
• The latest T3/Inside Information survey shows growth in estate and tax planning software adoption
• Beware the risks of outsourcing to insurance agents who may not present all options

Learn more about Caribou’s mission and health care planning software at www.CaribouWealth.com.

Special Note: In 2023, we rebranded the NAPFA podcast with a new album cover and series title: NAPFA Nation. We are shifting our monthly episodes to bring you inspiring conversations and key insights from leaders in the Fee-Only financial planning profession. Marie Swift, Founder and CEO of Impact Communications, will continue on as host, interviewing a variety of NAPFA members and professionals. You will still be able to find on this channel the 32 Mindset Mastery episodes with respected fiduciary financial planners and allied advocates who are committed to accomplishing great things as they master their own mindset and continue to serve their clients in the best ways possible.

Brought to you by NAPFA - the National Association of Personal Financial Advisors - the country’s leading professional association of Fee-Only financial advisors. Learn more about NAPFA at https://www.NAPFA.org.