In the first week of October, independent RIA Wealthspire Advisors announced a partnership with Chapter, a non-government Medicare advisory practice, to “improve how we support [clients] with their healthcare planning needs,” said Kevin Smith, a senior vice president and advisor at Wealthspire who helped spearhead the partnership, in an email.

Chapter’s specialists will work to find healthcare savings and identify comprehensive benefits for Wealthspire’s clients. In addition, Chapter’s proprietary data platform will help Wealthspire clients navigate Medicare options and enroll in the best coverage for each individual, improving their health coverage over time.

Medicare, of course, is the federally mandated health insurance program for all Americans age 65 and older. (It is also open to some younger folks who have certain health conditions.) But there are several levels and coverage options.

Medicare Part A covers hospitalizations and, to an extent, home healthcare. Part B is essentially medical insurance for outpatient care and medical equipment. Both are part of “original Medicare,” guaranteed by the federal government and available for free. Part C, better known as a Medicare Advantage Plan, is offered by private companies approved by Medicare to provide extra coverage for dental, vision and hearing care. Part D, also run by approved private insurance carriers, covers prescription drugs. In addition, Medicare Supplement Insurance—sometimes called Medigap—refers to private insurance that fills the gaps left by other Medicare options. You cannot have both Medigap and a Medicare Advantage Plan at the same time.

“Navigating healthcare on your own can be difficult,” said Smith. “It’s critical to ensure that clients find or remain on the best Medicare coverage to meet their needs so they can maximize their health benefits and minimize their healthcare costs during retirement.”

In a press release, Chapter CEO and co-founder Cobi Blumenfeld-Gantz explained, “Many Americans overpay for healthcare in retirement. Without expert guidance and advanced technology, it’s nearly impossible to properly plan for these expenses because the Medicare system is so unnecessarily confusing.”

The new partnership will help Wealthspire clients more easily identify the right Medicare coverage for their specific needs. It will also offer the firm’s clients ongoing education about ever-changing healthcare options and annual policy reviews to ensure they are making up-to-date, informed choices about their health coverage year after year.

“Guiding our clients through all parts of their financial journey is our number one priority,” said Mike LaMena, CEO of Wealthspire, in the press release. “The majority of Americans underestimate the true costs of healthcare in retirement, which is why it is critical that financial advisors emphasize the importance of Medicare planning as part of the financial planning process.”

Smith noted that Wealthspire and Chapter “share the same values of providing objective, client-centric advice.” The partnership “furthers our mission of being fiduciaries who offer world-class resources for personalized advice to our clients, and [it] meaningfully improves how we support them with their healthcare planning needs.”

The move is also part of a larger plan to expand Wealthspire’s footprint nationwide. Wealthspire currently has offices spread across 10 states throughout the Northeast, mid-Atlantic, Midwest and West Coast. By including Chapter’s resources, Wealthspire can offer a “consistent solution” anywhere in the country. “Our goal,” said Smith, “is for clients to have a similar Wealthspire experience regardless of geography.”