A nationally recognized specialist in Long Term Health Care told a group of educators in Oklahoma that planning for Long Term Health Care is essential to their retirement planning.
“Teacher’s defined pensions are under microscopes in Oklahoma and across the country. While I won’t debate the merits of defined pensions as opposed to a defined contribution program (like a 401k), the bottom line there will be continued pressure by states and school districts throughout the country on how best to provide retirement for our teachers.”Matt McCann, a nationally known specialist in Long Term Health Care planning.
McCann said that no matter which method a teacher may have, Long Term Health Care is still the biggest involuntary risk teacher’s face in enjoying their future retirements.
“The US Department of Health and Human Services says that if you reach the age of 65, you will have a 70% chance of needing some form of Long Term Health Care. A majority of care is custodial in nature. This means help with activities of daily living or supervision due to a memory issue of some type. This is not paid for by any health insurance plan or by Medicareor MedicareSupplements. Since the cost of care is high, teachers, just like the rest of us, need to plan.”Matt McCann
McCann noted that Long-Term Care Insurance is an affordable way to plan for the physical, emotional and financial burdens Long Term Health Care has on loved ones.
“One in three seniors will have some type of cognitive issue according to the Alzheimer’s Association. People require Long Term Health Care because of accidents, illnesses and the impact of aging. Dementiaand memory issues are just one of many reasons people require care. The advances in medical science make us more likely to need care at some point and this cost is high. With questions on how teacher’s retirements will be funded in the future, planning on Long Term Health Care is an easy and affordable way for a teacher to help themselves and their families now.“Matt McCann
McCann has 16 years of experience in Long Term Health Care Planning and is recognized as one of the top specialists in the nation. He assists individuals to determine if Long-Term Care Insurance is suitable if the person health qualifies for coverage and then helps them shop for the best coverage at the best value.
“Long-Term Care Insurance is very affordable. Most of my clients are in their 40’s and 50’s and see this as an important step in their retirement planning. But remember, a Long Term Health Care event can occur at any age. While we hope it happens when we are much older, it is not always the case. These medical advances allow us to survive health events and accidents more now than ever before. However, many times it means we need help with our daily living activities.”Matt McCann
There are a number of good websites for information on Long Term Health Care Planning including the American Association for Long-Term Care Insurance, www.aaLTCi.org.and McCann's website, http://mccannLTC.net/
This article originally appeared on News-Light.com: Teachers Told Long Term Health Care Planning is Essential for Retirement Planning - http://www.news-light.com/teachers-told-long-term-health-care-planning-is-essential-for-retirement-planning_1028361.html