Health financial needs calculator
First Claim
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1. An interactive software tool disposed to generate long-term health care expense information, comprising:
- a browser, executing on a first computer, disposed to receive input information specifying attributes of a customer, the attributes including lifestyle attributes, and for transmitting the input information; and
a server computing system, linked with the first computer, disposed to receive the input information, for determining a current annual medical cost from the input information, for applying first risk factor to the current annual medical cost based on the attributes of the customer, for applying a cost inflation factor to an expected cost of medical care, and for generating an output relating to a customized health care expense estimate.
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Abstract
A system and method for determining an expected health care financial need for a period of time in the future, such as during retirement, is preferably an Internet-based system that collects certain data provided by an individual. The invention provides a customized result tailored to the collected data.
50 Citations
32 Claims
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1. An interactive software tool disposed to generate long-term health care expense information, comprising:
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a browser, executing on a first computer, disposed to receive input information specifying attributes of a customer, the attributes including lifestyle attributes, and for transmitting the input information; and a server computing system, linked with the first computer, disposed to receive the input information, for determining a current annual medical cost from the input information, for applying first risk factor to the current annual medical cost based on the attributes of the customer, for applying a cost inflation factor to an expected cost of medical care, and for generating an output relating to a customized health care expense estimate. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A method for generating health care expense estimates for a future time period, comprising:
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receiving input information specifying attributes of a customer, the attributes including lifestyle attributes for the user; determining a current annual medical cost estimate based on the received input information; applying a first risk factor to the current annual medical cost estimate based on the attributes of the customer; applying a cost inflation factor to the current annual medical cost estimate to calculate a result; and calculating a customized health care expense estimate based on the result. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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21. An Internet-based retirement health financial needs estimator tool comprising:
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a first software component including a set of executable instructions for receiving a plurality of user attributes, at least one of the user attributes relating to a lifestyle circumstance for the user; and a second software component including a set of executable instructions for determining an average annual health care cost for a baseline case, for applying a risk factor to the baseline case based upon the plurality of user attributes, for applying a projected inflation factor to the baseline case, and for generating a customized health care expense estimate based on the result. - View Dependent Claims (22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32)
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Specification