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Consequences of Long-Term Care Vary Depending on Reasons for Care
Matt McCann -- Long Term Care Expert Matt McCann -- Long Term Care Expert
St. Louis, MO
Saturday, August 13, 2022

Matt McCann - Long-Term Care Specialist

Few question whether more people require help with daily living activities or supervision due to memory loss than ever before. Longevity increases our risk of needing long-term health care. 

There are numerous reasons why people need help with activities of daily living. Matt McCann, a leading expert in long-term care planning, says people need long-term care services due to illnesses and a general decline in health, mobility problems, dementia, and the frailty of aging. 

"The older we get, the more likely we will need long-term care. However, long-term care is no longer limited to those who are older. Medical advances help us survive significant health events and accidents. The problem is if you don't recover, you often will need ongoing long-term care."

Matt McCann

McCann says no matter if you require long-term care when you are older or if it happens sooner in life, the consequences affect your family and finances. 

"Few families are prepared to pay $4000 or more monthly in today's dollars to fund quality long-term health care services. Once you are retired, the impact on your lifestyle and legacy is tremendous."

Matt McCann

People need long-term health care services for many reasons and a recent study of insurance claims show the impact. 

Consequences of Long-Term Health Care Depend on Type and Reason Care is Required | LTC News

Access to Quality Care a Major Concern for Most People

McCann notes that access to quality care is one of many primary concerns when people investigate Long-Term Care Insurance. 

"I speak with many people nationwide as they investigate how to plan for the future costs and burdens of aging and declining health. Most people understand that long-term care planning is more than just addressing the significant cash flow problems that long-term care costs create. Most people are also very concerned about access to their choice of quality care in their desired setting. They also want their loved ones to have the time to be family instead of being caregivers."

Long-term health care costs are exploding nationwide. While in-home care is often less expensive, those costs also increase due to higher labor costs and growing demand for services.

The solution for many American families is Long-Term Care Insurance. However, McCann notes there is concern about the cost of insurance.

"Based on what you read, someone might think Long-Term Care Insurance is unaffordable. For most people, depending on age, health, and other factors, LTC Insurance is very affordable. These policies are custom designed as well. The problem, however, is Long-Term Care Insurance premiums can vary over 100% between insurance companies."

Matt McCann

How Much Does Long-Term Care Insurance Cost? | LTC News

Long-Term Care Insurance Specialist Will Be Helpful

McCann also notes that many financial advisors and general insurance agents have limited knowledge about the available products, underwriting, and policy design.

"Many people get recommendations for benefits that are much more than what most people need or from insurance companies that are very expensive. Working with a specialist is vitial."

Matt McCann

Plan Before the LTC Tax

McCann notes that most people obtain coverage in their 50s as part of their retirement planning. However, several states are considering taxing those who do not own qualified Long-Term Care Insurance policies. As a result, many younger people are scrambling to get their coverage to avoid the LTC tax.

"Sure, avoiding a tax is important. The thing to remember is future long-term health care can destroy your future retirement. Many people think of Long-Term Care Insurance as insurance for their 401(k) and other assets. Being able to have a plan that safeguards your income and assets and eases family stress is a critical part of retirement planning."

Matt McCann

Health Insurance and Medicare Not Solution for Long-Term Health Care

McCann says health insurance, including Medicare and supplements, will not pay for most long-term care. Medicaid is not an answer for most people since it requires care recipients to have little or no income and assets.

Families are unable to fill the role of being a caregiver. Family caregivers face physical and emotional burdens and find it hard to juggle the responsibilities of their careers, families, and caregiving. 

McCann is licensed nationwide and works with the major insurance companies. His unique process allows you to view his computer screen as you speak with him safely on the phone. Nothing could be easier.

You can get free and accurate quotes from all the top companies, along with professional recommendations -  Free and Accurate Quotes.

Media Availability

McCann is available for radio, TV, and podcast interviews. He also speaks to groups and organizations worldwide on the issues of aging, caregiving, health, and long-term care. Contact McCann through his website for information.

News Media Interview Contact
Name: Matt McCann
Title: President
Group: McCann Insurance Services, Inc
Dateline: Darien, IL United States
Direct Phone: 630-487-2480
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