The need for long-term care services is becoming more urgent as the American population ages. An estimated 56% of individuals who reach age 65 will require some form of long-term care during their lifetime.

Yet Matt McCann, a leading national expert on long-term care planning, says many people think Long-Term Care Insurance is expensive and overlook long-term care when preparing for retirement.

"Some have considered Long-Term Care Insurance but were shown costly options by the wrong professional and never explored more affordable solutions."

He explains that others haven't even taken the time to research their options. Too many people, he said, fail to ask themselves whether they are prepared for the financial impact long-term care costs could have on their lifestyle and legacy.

The real question is: Are you prepared for the financial consequences long-term care costs could place on your lifestyle and legacy?

But there's another issue—the impact long-term care will have on your loved ones. Talking to a qualified specialist will help you find the answers.

The Rising Costs of Long-Term Care

Long-term care costs continue to rise, making financial planning more important than ever, especially since health insurance and Medicare only cover short-term skilled care.

According to the LTC News Cost of Care Calculator, the national average cost of assisted living facilities, before surcharges, is now $4,630 per month. Additional charges can add around $2,000 per month, depending on individual needs. Memory care increases costs even further.

Most people prefer to age at home, but in-home care—based on a 44-hour workweek—now averages $5,177 monthly.

For those who require a nursing home, the cost of a private room exceeds $115,000 per year, with some states surpassing $150,000 annually.

These expenses are in addition to other financial obligations people may have when they need long-term care. Without Long-Term Care Insurance, many adult children are forced into caregiving roles, often without the necessary training or preparation.

Families Caught Off Guard

McCann warns that many families are unprepared for the financial burden of long-term care, only realizing too late that neither health insurance nor Medicare will cover most expenses.

"People assume these programs will step in, but when they see the actual costs, it's a real wake-up call unless they have Long-Term Care Insurance."

He explains that without a plan in place, families scramble to find ways to cover care costs—or take on caregiving themselves.

"Many people underestimate how expensive long-term care can be. Without proper planning, families often face tough decisions when care is needed."

The Strain on Family Caregivers

Family caregivers often struggle to balance their caregiving duties with work, parenting, and other responsibilities. Many belong to the "sandwich generation", simultaneously caring for aging parents while raising their own children. This dual responsibility leads to both emotional and financial strain.

Eventually, many families turn to professional care, watching their loved one's savings and legacy disappear in the process.

Varying Costs by Location

Long-term care costs vary significantly by state, with urban areas typically more expensive than rural regions. For the most accurate and up-to-date pricing in your area, experts recommend using the LTC News Cost of Care Calculator, which tracks real-time long-term care costs across the United States and projects future costs.

The Role of Long-Term Care Insurance

Long-Term Care Insurance offers a solution by covering services such as home care, assisted living, and nursing home care.

However, some people think the premiums are more expensive than they are. Others are quoted very expensive plans, making the cost of premiums unaffordable.

"It is amazing when I speak with people in their 40s, 50s, or 60s who think an LTC Insurance policy will cost $1000 or more monthly. Most people can find appropriate coverage at a fraction of that cost."

Long-Term Care Insurance premiums vary dramatically between insurance companies. A survey of LTC Insurance costs illustrates how affordable an LTC policy can be.

How Much Does Long-Term Care Insurance Cost at My Age?

"Securing an LTC policy before you retire can lead to significant savings and provide peace of mind."

Strategies for Affordability

To make LTC Insurance more affordable, consider the following strategies:

• Good Health Discounts: Many insurers offer discounts for applicants in good health.
• Policy Customization: An LTC Insurance specialist can design the policy so you don't over-insure and only get the benefits you need.
• Hybrid Policies: Combining life insurance with a qualified LTC Insurance rider can provide a death benefit in addition to the long-term care benefits
• Tax Benefits: A specialist will review the available tax benefits, including ways to pay your premium from a Health Savings Account (HSA), which helps you save money.
• Partnership LTC Insurance: Most states have partnership policies that provide additional dollar-for-dollar asset protection. Even a small policy can provide significant benefits.

The Importance of Professional Guidance

Given the complexities of LTC Insurance, consulting with a specialist is crucial. Professionals like McCann can help navigate the myriad options and find a policy that aligns with individual needs and budgets.

"An expert can match your age, health, and family history to shop all the top companies to find the best options at the best value."

Comprehensive Retirement Plan Includes LTC Insurance

Planning for long-term care is a critical component of a comprehensive retirement strategy. By understanding the costs of long-term care series and exploring LTC Insurance options early, McCann says you can protect your future retirement income and assets and ensure you receive the quality care you deserve without burdening those you love.

Get Professional Planning Help Now

McCann's extensive experience in policy design and underwriting positions him as a valuable resource for those seeking to understand the intricacies of long-term care planning.

Licensed in all 50 states and the District of Columbia, Matt McCann represents top-rated insurance companies offering long-term care solutions.

His innovative approach enables clients to consult with him remotely while viewing his computer screen, providing a convenient and transparent way to explore and select the best coverage options.

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.