There is a growing concern about long-term health care, and 2022 will only increase the interest in planning for the future costs and burdens of aging.

"In the past 30 days, I have seen a considerable increase in consumer interest in long-term care planning, and I expect that to increase throughout 2022," said Matt McCann.

McCann, a nationally known expert on long-term health care planning, spoke to insurance agents and financial planners in North Carolina that the problem of long-term care is not going away.

Changing Health and Aging Can Affect Future Retirements

"Aging is a real problem, and there is no cure for aging. More people today are aware of the consequences of changing health and aging, in part due to the COVID-19 virus crisis and the attention the problem is receiving in the media," McCann said.

McCann said long-term care is not just a financial issue. However, he added, the costs of long-term health care services are rising rapidly due to increasing demand for care services and labor shortages nationwide. 

Long-Term Health Care Costs Rising

He noted that the LTC NEWS Cost of Care Calculator shows that nursing home costs are already over $100,000 a year, but in-home care, adult day care centers, assisted living facilities, and memory care facilities are all raising costs to meet demand.

But despite the financial strain, long-term care is also a family problem.

Families and Finances Impacted by Long-Term Care

"Most insurance agents and financial advisors don't discuss how long-term care affects spouses and adult children. When there is no plan, a family crisis develops. Loved ones must juggle their already busy lives and add caregiving or managing professional care to their list of responsibilities. It creates a domino effect on the extended family. Everyone feels the burden," McCann explained.

He said family caregivers face tremendous physical and emotional hardships balancing the role of caregivers with their jobs and family responsibilities. 

Delaying is Detrimental to Successful Planning

Still, despite the growing evidence that long-term care can be so devastating on family and finances, too often, people wait too long before finding a solution.  

"Most people purchase Long-Term Care Insurance in their 50s, yet many people still get refused coverage due to poor health. Waiting until you need care - or you get older and have declining health is not a plan since options are limited at best or unavailable. You must have reasonably good health to find an affordable solution," McCann explained.   

McCann suggested insurance agents and financial advisors team up with Long-Term Care Insurance specialists to help their clients find affordable solutions. 

Insurance Premiums Vary Between Companies

"Specialists can match a person's age, health, and family history with the right insurance company. Premiums vary over 100% between insurance companies, and the underwriting criteria vary widely," he said.

McCann helps consumers nationwide plan for the costs and burdens of aging so they can safeguard their income and assets, access their choice of quality care options, including in-home care, and reduce the stress and burdens otherwise placed on extended families.

"The natural tendency is for us to delay; we all think we can do things tomorrow. Health often does change without notice. We see this today with COVID-19 infections. Some of these health changes can adversely affect a person's ability to obtain coverage. There are so many affordable options available, but you have to take advantage of them when you still have available choices," McCann added. 

Working with a Specialist Saves Money

McCann represents the top companies and helps people nationwide. His unique process allows consumers to speak with him on the phone while viewing his computer screen on their device from the safety of their home. This will enable consumers to shop all the top companies from one trusted source and get free and accurate quotes along with professional recommendations.

Shop the companies from one trusted source. Get free and accurate quotes along with professional recommendations - Free Quotes (mccannltc.net).