Honest family conversations, organized finances, understanding extended care options, and Long-Term Care Insurance can spare families the stress and burden too many face.
Millions of American families are being pulled in three directions at once. They are saving for their own retirement, helping aging parents and supporting children who are often still in school. When a parent suddenly needs help with everyday living, that pressure can become a full family crisis.
Matt McCann, CLTC, a leading expert on long-term care planning, says most of that crisis is preventable. The risk is not small. According to the U.S. Department of Health and Human Services, 56 percent of Americans turning 65 will need long-term care services, defined as needing help with at least two of six activities of daily living for 90 days or more, or substantial supervision because of severe cognitive impairment. As the country ages, more families will face that reality, often with no plan in place.
The first mistake, McCann says, is assuming someone else will pay.
"Too many American families assume Medicare will pay for long-term care. Outside of short-term skilled services, it will not. Understanding that now is a major first step. Once you accept that the cost and the caregiving fall on the family, you start asking better questions while there is still time to act." — Matt McCann, CLTC.
McCann notes that Medicare's own website is direct on the point: "Medicare doesn't pay for long-term care." Medicare supplements and regular health insurance do not pay for it either. Understanding that reality will ease the stress and burdens that come with aging and long-term care.
Start With Your Parents
If your parents own Long-Term Care Insurance, you are already ahead of the game. Find the policy, learn what it pays, and know how to file a claim before anyone needs it.
Whether or not they have an LTC policy, a conversation is the most valuable step you can take. McCann recommends families cover these points now, while parents can speak for themselves:
- Learn the care options. Home care, adult day care, assisted living, memory care, and nursing homes differ widely in services and cost. The LTC News Caregiver Directory lists providers and costs by location and has over 80,000 caregivers and facilities to review.
- Decide how extended care will be paid for. Know what income, savings, and insurance are available and how long they would last.
- Know where the finances are. Locate accounts, policies, and legal documents, including powers of attorney and health care directives.
- Ask about care preferences. Most people want to stay at home. Hearing it directly removes guesswork and later guilt.
- Agree on who will help. Decide which family member will handle care, money, and medical decisions so the job doesn't fall on one person by default.
- Plan for chronic illness and dementia. About 7.4 million Americans age 65 and older are living with Alzheimer's in 2026, according to the Alzheimer's Association. Memory loss can take away a parent's ability to make these choices.
"The worst time to have this conversation is in a hospital hallway," McCann said.
"When you know where the finances are, what your parents want and who is going to do what, you avoid the family crisis too many families face. You replace panic with a plan." — Matt McCann, CLTC.
Plan for Your Own Future Before You Retire
Helping a parent through a care crisis often changes how adult children think about their own retirement. McCann says that is the moment to act, because the same planning gap will one day belong to them and to their children.
Long-Term Care Insurance is medically underwritten, so your health today decides whether you qualify, and age affects what you pay. LTC News research finds most people apply for coverage between ages 47 and 67. Under federal law, benefits from tax-qualified policies are generally received tax-free.
"Being prepared means adding Long-Term Care Insurance to your retirement plan now, before you retire," McCann said.
"An LTC policy gives you guaranteed tax-free benefits to pay for your choice of care in any setting, even at home. It safeguards your income and assets, and it allows your loved ones the time to be family instead of caregivers." — Matt McCann, CLTC.
He adds that waiting carries its own cost.
"You cannot buy coverage after you already need care and your health changes substanially, and nobody schedules a stroke or a dementia diagnosis," McCann said.
"Families who plan early have choices. Families who wait have a crisis." — Matt McCann, CLTC.
McCann notes that consumers with health issues still have a few coverage options, but planning before health changes gives you far more choices. Traditional Long-Term Care Insurance, including partnership policies that offer dollar-for-dollar asset protection, remains one option. Hybrid Long-Term Care Insurance policies, which combine life insurance or annuities with a qualified long-term care rider, provide another. Short-term cash indemnity policies, which pay cash benefits for a limited period and use more flexible underwriting, also give families alternatives to consider.
McCann advises speaking with an experienced Long-Term Care Insurance specialist to determine the best available options and to shop for the most appropriate coverage at the lowest cost.
"If your parent needed care tomorrow, would your family know what to do? Have the conversation now. When you need long-term care decades from now, have you taken action to make it easier on your family, ensure access to quality care, and safeguard your income and assets from teh rising cost of long-term care?" — Matt McCann, CLTC.
Getting Help if a Loved One Has LTC Insurance
If a loved one has an LTC policy, McCann recommends getting professional help. He notes that LTC News partners with Amada Senior Care to provide free claim support with no cost or obligation — File a Long-Term Care Insurance Claim.
About Matt McCann, CLTC
Matt McCann, CLTC, has spent nearly 30 years helping families prepare for the financial and emotional realities of aging. As one of the nation's most respected long-term care planning specialists, he is licensed in all 50 states and the District of Columbia and represents the industry's leading insurance carriers.
McCann's approach is personal, transparent, and pressure-free. Clients can consult with him by phone at their convenience while he shows them his computer screen, creating a simple, convenient experience. He walks you through your options at your own pace with no office visit required.
You can start the process and get free, accurate quotes from top companies offering long-term care solutions, plus professional recommendations by visiting Free and Accurate LTC Insurance Quotes.
Media Availability
Matt McCann is a trusted, frequently quoted voice on aging, caregiving, and long-term care. With nearly three decades of experience, he brings clear, practical insight to conversations about how families can prepare for the financial and emotional realities of extended care.
McCann is available for interviews, expert commentary, radio, podcasts, webinars, and panel discussions. He regularly collaborates with journalists, producers, and conference organizers seeking authoritative perspectives on long-term care trends, policy developments, caregiving challenges, and the future of aging in America.
Contact Matt McCann for media availability.