As a long time senior emergency manager, I have a slightly different take without all the hype and all the false information (like high doses of vitamin C).
Everybody needs to be prepared to take care of themselves for a few weeks. That means food, meds and other supplies, so you don't need to go nuts and buy a lifetime supply of TP at the first sign of someone sneezing.
That said, you'll want some water (although the water/electricity/gas etc. won't be affected by the pandemic) as there may be periodic outages caused by other things (storms etc) but once you have your basic supplies, you just need to rotate and buy your normal quantities of everything.
Don't forget supplies for your pets.
You'll also want to keep your car topped off. Even though you might not be driving as much and the gas stations will remain open, you do want to limit your interaction with others. I make it a habit of filling my tank when it reaches half full all the time, so I normally have plenty of gas. Maybe you need to bring supplies to a friend or relative who is shut in.
Wash your hands, don't shake hands, exercise social distancing (3 feet away from others in public), cover your cough and you'll be fine.
Don't forget the ammo.
Bottom line - don't panic but don't take this lightly either. There are plenty of 20/30/40 year olds on ventilators for this disease so it doesn't just affect the older population.
With proper preparation, we can keep from overwhelming the medical system - that's what happened in China and what is happening today in Italy (where they are taking triage to extremes because they can't cope)
You don't want to get this (you have a 90+% chance of survival) but you don't want to get it and pass it on inadvertently to a more vulnerable person.
I'm happy to answer any questions - either here or via PM.