A nationally known expert on Long-Term Care planning has applauded President Donald J. Trump as he proclaims November 2017 as National Family Caregivers Month. Matt McCann says the issue of caregiving is huge and it makes sense to talk about caregivers during Long-Term Care Awareness Month which is also in November.
“Every day, compassionate Americans devote time, energy, and resources to ensure that family members who are disabled, elderly, chronically ill, or injured can remain in the stability and comfort of familiar surroundings. During National Family Caregivers Month, we honor those whose extraordinary selflessness provides others with independence and comfort,” said President Trump.
McCann says the issue of caregiving and Long-Term Care has become an even bigger issue in the past couple of decades as advances in medical science add longevity to our lives. The US Department of Health and Human Services says if you reach the age of 65 you have a 70% chance of needing some type of long-term care service before you pass. The impact on American’s savings is tremendous. The impact on family and caregivers is life changing.
“The President and his Administration has outlined healthcare as a major priority. I applaud President Trump in recognizing caregivers and the role they play in providing help for those who are older or chronically ill,” McCann said.
McCann said he hopes the Trump Administration will fight for tax benefits including an above-the-line tax deduction for qualified Long-Term Care Insurance policies.
“Helping the American people plan for the financial costs and burdens of aging should be a priority. I know the Trump administration supports Health Savings Accounts which can be used to pay for LTC insurance using pre-tax money. An above-the-line deduction will allow more people to plan in advance, before they retire, so they can safeguard their 401(k) IRA 403(b) and other assets. Plus LTC insurance policies makes it easier on family be reducing the burden placed on them. It also provides the money for quality caregivers in the setting they desire,” McCann noted.
“Each November we acknowledge the commitment of exceptional Americans who embody the compassion and spirit of our Nation. We support the life-affirming work of our Nation’s caregivers and thank them for the sacrificial devotion that improves the lives and honors the dignity of their loved ones,” the President said.
McCann said he will work with the President and Congress to make affordable Long-Term Care insurance even more available by providing the tax incentives which will not only protect the savings of American families but protect the budgets of state and federal government programs like Medicaid so the poor have the benefits they need as well.
He suggests a number of online resources which are valuable for planning and education during Long-Term Care Awareness Month:
US Department of Health and Human Services – https://longtermcare.acl.gov/
LTC News – www.ltcnews.com
Plus his website: www.mccannltc.net