The year 2020 has been a year we will not forget. One area that has been in the news is long-term care. The COVID-19 virus has attacked the oldest and most frail of all Americans, with many of them living in nursing homes. American families are wondering if there is a better way to take care of family members.

In an online town hall, Matt McCann, a leading expert on long-term care planning, explained families should be thinking about future long-term care needs before they get older and require care. People need long-term care services due to illness, accident, or the impact of aging. Advances in medical science are pushing lifespan, and our longevity is increasing the need for extended care.

"Most people I speak with are looking to have a choice. They want a choice of how and where they will be taken care of when they need extended care. People don't want to place the future responsibility of caregiving or managing their care on their families. Without advance planning, that responsibility usually falls on a daughter or daughter-in-law. The fact is you can arrange to have control and independence while preserving lifestyle and legacy. The solution, for many American families, is affordable Long-Term Care Insurance," McCann said.

McCann was asked how much insurance is needed to take care of their needs in the future. He explained that Long-Term Care Insurance is custom designed. Even a small policy can provide a choice of quality care, including care at home where most people will want to be if at all possible.

"We have seen that home care is desirable. This is not new news. People have been telling me for over 20 years that they ideally would like to stay in their own homes when they need care. Most Long-Term Care Insurance claims start at home. When you have a policy, you maintain control over the type of care you wish to have at home or in a facility," McCann explained.

In 45 states, Partnership Long-Term Care Insurance is available. McCann said the partnership program is one of the biggest kept secrets in retirement planning. The Partnership Long-Term Care Insurance plans provide dollar-for-dollar asset protection. The policyholder will be able to shelter part of their estate, so if they ever exhaust their insurance benefits they can access the Medicaid Long-Term Care benefit without being impoverished.

"You need just enough to safeguard a chuck of assets. Couples can also have shared spousal benefits, which add even more flexibility at a low cost. The problem is most insurance agents, and financial advisors have little or no knowledge of how this works. They tend to give up on Long-Term Care Insurance because they have little understanding of underwriting criteria and policy design. Also, they think LTC Insurance is expensive. It's not, it is very affordable," McCann added.

Premiums can vary over 100% between insurance companies for the same benefits. McCann says that when you work with a Long-Term Care Insurance specialist, like himself, they work with the top companies. A specialist will design an appropriate plan and shop to find the best coverage at the lowest cost.

"The time to plan is not during a crisis when you need care. At that point, you have few, if any, options. You plan ahead of time. Most of my clients are in their 40s or 50s when premiums are low, and the consumer has the most affordable options," he said.

The problem, according to McCann, is too many people think Long-Term Care Insurance is expensive. While it can be expensive if you choose the wrong company or you are much older or have health issues, a specialist can custom design a plan that easily fits your budget.

"The financial costs and burdens of aging will impact you, your family, your savings and income, and your lifestyle and legacy. With planning, you can enjoy peace-of-mind, and your family will have the time to be family. We can ignore the problem or think it won't happen, but that goes against facts and common sense," McCann said.

Licensed in every state, McCann represents the major insurance companies to find the best coverage at the best value. He uses a unique approach where a consumer can talk with him on the phone while viewing his computer screen on their own computer or tablet. This is an easy, safe, and pressure-free way to get educated and see your various options as you shop for an affordable LTC policy.

McCann recommends these reference websites for research: 

LTC News offers news and resources. You can find both the current and future cost of extended care services by using the cost of care calculator: https://www.ltcnews.com/resources/states 

His website has many resources as well: www.mccannltc.net