The recent COVID-19 pandemic has shown how long-term health care is impacting many American families. The trend away from nursing homes started years ago and has accelerated because of COVID-19.
“Recent statistics show that 70 percent of Long-Term Care Insurance claims start with in-home care. When no insurance is involved, family members attempt to be caregivers, despite being untrained and unprepared. As a result, the consequences of long-term health care affect families and finances,” said Matt McCann, one of the nation’s leading experts on long-term care planning.
It may come as a surprise that that health insurance and Medicare rarely pay for long-term health care. When people see the costs of home care providers, adult day care centers, assisted living and memory care facilities, and nursing homes, they become amazed.
The LTC NEWS Cost of Care Calculator shows the financial impact where you live, including the future expected costs. Greater demand due to medical advances and longevity will push these costs even higher.
“The cost of long-term care services are expensive nationwide but do vary based on location. In Illinois, for example, the average cost of in-home care runs about $55,000 annually; in 20 years, it will be over $100,000 a year (based on a 44-hour week). However, in Tennessee, that same care at home averages about $48,000 today and in 20 years about $90,000. Still expensive, but it is about location,” McCann explained.
McCann says affordable Long-Term Care Insurance will provide the guaranteed tax-free funds to pay for your choice of quality care in the setting you desire.
“An LTC policy will also reduce the stress and anxiety otherwise placed on your family. You can safeguard income and assets and give your loved ones the time to be family,” McCann said.
The best time to obtain coverage is before you retire, ideally in your 40s or 50s. McCann is licensed nationwide and represents the top companies. His unique process allows you to speak with him on the telephone as you view his computer screen on your device. It is easy and safe.
Several types of policies are available. Get free and accurate quotes along with professional recommendations - www.quoteonltc.com. Premiums can vary over 100 percent, so shopping with a specialist like McCann is essential.
McCann Insurance Services: 866.751.7957: www.mccannltc.net