Consumer Planning Blog

Matt Dean

Matt Dean, Vice President, MarketPlace Group (MPG), joined LTCI Partners in June 2011. He is responsible for the structure, implementation, and management of sales initiatives. He leads a national sales force of salaried insurance specialists who, through a virtual kitchen-table conversation, provide needs-based advice and guidance to help consumers plan for the financial consequences of a long term care event. Matt brings 24 years of insurance experience at USAA, where he was responsible for a number of health insurance product lines. Matt is a graduate of the University of Texas at San Antonio with a BBA in Finance, is a licensed life and health insurance agent, and holds various professional designations. He and his wife are active in the Prader-Willi Syndrome (PWS) Association on behalf of their son, Tanner, who has PWS.

Recent Posts

A daughter gives up her life to take care of mother with Alzheimer's

This is as a compelling video about a daughter who basically gave up her life for 9 years “My boyfriend, my house, my social life, my career, my freedom... life as I knew it." 
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You’re never too young to think about long-term care

You are a savvy planner.  You know that comfort in retirement comes from proper planning, and the sooner you start planning, the better off you are.     You work hard, saving as much as you can, contribute to your 401k or other employer savings, and you diversify your investments.  You protect your family against potential hardship by having life, health, and disability insurance and work with a financial planner to ensure you’ll be financially secure after your working years are behind you.   Despite all this planning, when the subject of long-term care comes up, you think you’re too young to worry about that - which may not be the case. In fact, long-term care may be the single most significant uninsured financial risk Americans face, with the national average cost of a private room in a nursing home running over $94,000 a year; even higher depending on where you live.  Home health can also present a financial challenge, with a national average cost of almost $30,000.1  The result – even the most savvy planner may find these costs greater than what they are willing or able to pay out-of-pocket. 
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Your long-term care insurance policy can help your mom

Last week we discussed why care management is not managed care. This week we will review caregiver support services – which is helpful for the families of those who have insurance policies and are in need of care or are receiving care.  If you remember, care management is a service provided to the insured at the time of claim and ongoing as their claim continues. Caregiver support is typically not provided by the insurance company, but by a third party who the insurance company has contracted with to provide additional support services to the insured and their family.
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Care management is not managed care

Many of you probably remember when HMOs and PPOs were created. We all thought the medical community and our insurance providers would tell us where, when and how we would get our medical care and how much they would be willing to pay for us to go where they wanted us to. That all became pretty mainstream 20 years ago and we found that for the most part, our health care experiences worked out just fine. Care management in the long-term care world was perceived the same way when it began, but now it is a mainstream benefit in most policies that are sold today.
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When is the best time to buy long-term care insurance?

Our call center phone rang and she said: “I want to buy a long-term care insurance policy” before I could even answer the phone with my traditional greeting. Very few people call and are ready to purchase immediately. I noticed she was already in our system and had previously called. We had sent her a quote and application 14 months ago, but she never completed it – and several attempts were made to contact her but she never returned our calls. We closed the file 10 months ago.
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Long-term care insurance is not for everyone

   Source: Flickr user American Advisors Group If you don’t have a lot of assets to protect, then you just don’t need long-term care insurance. After all, simply put, it’s a tool to protect your assets. So, what’s “a lot” of assets? Well, I think that depends on the value you place on what you have accumulated.
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What's your plan?

As we approach the end of the year, many people will evaluate what happened with the plans they had for 2014 and begin to make their plans for 2015.  For some people it is about planning for a vacation, or buying a new home. Still for others, they will consider the need to plan for retirement. 
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