The virus crisis is showing American families that having a choice of where you will receive future long-term care services is essential to the well-being of the entire family. This is the message one of the nation's leading experts on long-term care planning delivered in a Zoom meeting to care providers and insurance agents.

Matt McCann has been helping American families for over 20 years across the country plan for the financial costs and burdens of aging. He said in the video meeting that we can't avoid seeing news stories about how some long-term care facilities were not ready for the outbreak of COVID-19. 

"This shouldn't be a surprise. We saw outbreaks of the flu and other infectious diseases in the past. They do the best they can, but with COVID-19, it was very different since many people who were infected showed no signs of illness. This meant staff, vendors, and family members were able to pass the infection to others, and it quickly spread. We are seeing the outcome now," said McCann.

He says many people are forced into facilities since they had little choice.

"Too many times, families become the first caregivers. No advance plan was put in place. Without a plan, the family became caregivers until they were no longer able to perform these duties. Being a caregiver is physically, emotionally, and financially challenging. Paid caregivers come in until resources are drained, and the person ends up in a Medicaid nursing home. Most of us have choices if we plan. We must spread the word that affordable options are available to families," McCann explained.

This is where Long-Term Care Insurance comes into play. McCann says that even small plans provide enough resources to help people who require extended care the ability to stay in their own homes.

"Professional home care providers are delivering safe, quality care and keeping both the person they are caring for and themselves healthy. Plus, when a policy is paying those guaranteed benefits safeguarding savings, income, lifestyle, and legacy. People can maintain choice, control, and independence. However, too many people fail to plan," McCann said.

McCann said one of the biggest secrets in retirement planning is the Long-Term Care Insurance Partnership Program. Forty-five states offer special insurance policies that provide dollar-for-dollar asset protection. 

"Even a small partnership policy offers tremendous asset protection. Even small policies provide enough resources for quality home care. No matter the size of the policy, an individual can enjoy the peace-of-mind knowing they can remain at home longer and reduce the stress otherwise placed on those they love," he said.

He said it is essential for consumers to work with an experienced and qualified Long-Term Care specialist who works with numerous insurance companies. They will match the individual with the best coverage based on their age, health, family history, and other factors.

"I see insurance agents, financial planners, and even lawyers not understanding the basics of long-term care. They don't understand the impact on the family. They don't know about the partnership program. They certainly don't consider the impact of market corrections and how that can be devasting on a family if a long-term care event occurs during a downturn," McCann explained.

He said families should not place the future responsibility of caregiving on their families. Nor should they put the responsibility of paying for future long-term care services on their assets. 

"Long-Term Care Insurance is custom designed and affordable, especially if you are purchasing with good health in your 40s or 50s, ideally. Premiums vary dramatically between insurance companies, sometimes over double for the same benefits. It is essential to work with a specialist," he indicated. 

McCann is licensed nationwide. He has been working "virtually" for many, many years. He uses a unique process that allows an individual or couple to view his computer screen on their own computer or tablet while speaking to him on the phone. It's an easy and pressure-free way to learn and compare all the options from all the companies.

With a specialist you get accurate quotes and professional recommendations. This is crucial to researching Long-Term Care Insurance options. 

He suggested several online resources to help you find the best coverage. The Long-Term Care Insurance Guide is very detailed and provides an excellent base of knowledge. Just click here to read the guide: https://www.ltcnews.com/resources/guides/the-ultimate-long-term-care-insurance-guide. 

His website has many resources as well: https://mccannltc.net/resources. McCann's website also features a link to obtain free and accurate quotes from all the major companies.

McCann also works with financial advisors, insurance agents, and professionals like accountants to help their clients plan for longevity. 

"All of us must make the first step and take action to plan for a future successful retirement. The current virus crisis is a good example of why we need to plan now," he said.