The world comes with risk. Life has risks. Ignoring risks can bring catastrophic results. Planning can ease some of these risks, said Matt McCann, a leading expert on long-term health care planning.

Speaking to insurance and financial advisors in a Zoom Meeting, McCann pointed to Hurricane Ian as an example.

"We know risks are lurking around the corner. We have just seen the destruction caused by Hurricane Ian in Florida. Everyone knows that hurricanes can bring destruction. While we can't eliminate hurricanes, we can plan. Based on early reports, it appears that the state is in an excellent position to deal with the aftermath. The state has prepared, we will have to wait for the final results."

McCann said that Simone Marstiller, Florida's Secretary, Agency for Health Care Administration, says 100% of Florida's operating long-term care facilities have working generators. Over 7000 residents have been evacuated ahead of the storm.

"Our thoughts are with everyone in Florida and elsewhere where the impact of Hurricane Ian has been felt. For those with Long-Term Care Insurance, their policy benefits will follow them wherever they go, either temporarily or permanently. People will continue to have access to quality long-term health care, and their policy benefits will continue to help care recipients and their families."

Planning in a World of Uncertainty

Florida has planned. People with Long-Term Care Insurance have planned. We can't prevent bad things from happening, but McCann said we have access to guarantees in a world of uncertainty.

"The need for long-term health care is a real risk as all of us age. With aging, we will experience declining health, mobility problems, pain, dementia, and even frailty at some point in our lifetime. This often leads to needing assistance with routine daily living activities or supervision due to dementia. The question is, will we be prepared for the consequences that long-term health care will bring to our families and finances?"

McCann said that unlike a hurricane, where we have advance notice of its arrival, long-term care doesn't usually give us clues as to when and how long we require care. Yet, he says, it will either happen or not; if it does, it can devastate families.

"One of the mistakes that financial advisors or insurance agents make when helping consumers plan for long-term care is they ignore the impact of long-term care has on adult children and families. Yes, money is important and long-term care is a cash flow problem that should be addressed. Yet, that is not what most consumers say is their biggest concern."

People require long-term health care for many reasons, and the care plan will vary. The consequences on the family will also be dependent on the individual situation.

Top Reasons People Want to Plan for Future Long-Term Care

McCann listed the top three reasons people want to plan for long-term care:

• Burden - Overwhelmingly, people say they don't want to burden each other (for couples), their adult children, and their families. 

"Caregiving is demanding, and without planning, adult children, at least initially, become caregivers. They have to find a way to juggle caregiving with their jobs and families. Professional care must come in to reduce the stress and anxiety of family members. Without Long-Term Care Insurance, adult children must find care providers, make arrangements, and find the money to pay for this expensive care," said McCann

• Choice of Quality Care Options - Most people do not want to end up in a nursing home, and most Long-Term Care Insurance benefits pay for care at home, adult day care, and assisted living - not a nursing home.

"There is a profound desire to avoid a nursing home. Those with Long-Term Care Insurance provide the tax-free resources to pay for their choice of care services in the setting they desire. If they need a nursing home, they want a quality nursing home. The choice of quality care is crucial because they have often seen a loved one where the quality of the care has been questionable."

McCann said that Long-Term Care Insurance offers guaranteed tax-free benefits that provide the policyholder with choice. The policyholder can choose the type of services they desire in the setting they prefer.

• Income and Asset Protection - The cost of long-term health care is exploding, and consumers do not want to change their lifestyle or drain down a significant amount of assets to pay for care. 

"People work hard for what they have. Plus, they want the peace of mind knowing they can spend money on their retirement and do the things they want to do without fear they won't have enough to pay for future long-term health care. Then there is the legacy concern for some people. They would rather have the remaining assets they have accumulated in their lifetime go to their children and grandchildren instead of being drained because of long-term health care.

McCann added that most consumers are unaware most states participate in the Long-Term Care Partnership Program. However, many insurance agents and financial advisors are also unaware of what McCann call's one of the biggest retirement planning secrets in the country.

Partnership Long-Term Care Insurance offers dollar-for-dollar asset protection. 

"Whatever amount the policy pays in benefits gets sheltered dollar-for-dollar. If the policy pays $500,000 in benefits, for example, you can shelter that same amount and still qualify for Medicaid. The goal is not to get on Medicaid, but if you have a less likely but catastrophic long-term care event, you will never lose everything."

He notes that families with more modest assets can easily safeguard everything with a small LTC Insurance policy. 

Aging Has Consequences

McCann says we cannot ignore the coming storm of aging and the consequences that declining health will have on our families.

"Being prepared brings comfort and certainty in a world of uncertainty. We don't hope we will need long-term health care, but most of us should understand there is a good likelihood it will happen. Whether you have $300,000 in savings or $3,000,000 in savings, planning makes everything easier on those you love."

McCann is licensed in all 50 states and the District of Columbia. He represents all the major brands in long-term care planning. His unique process allows you to speak with him on the phone and view his computer screen, allowing someone to become educated about options, research, and shop safely and easily. 

Insurance premiums are regulated, and every insurance company must file its products and pricing with each state for approval before being allowed to offer any product to a consumer. 

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