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Long Term Care Costs, and Budgeting Advice For Baby Boomers

August 20, 2013 / Chris Orestis

David Bakke is a contributor for Money Crashers and writes about money management tips related to insurance, healthcare, investing, long term care costs, and retirement. Chris Orestis, CEO of Life Care Funding contributed to this article. The cost of long term care nowadays is staggering. The average annual cost of a nursing home is $63,145, a home health aide is $40,040, and homemaker services are $38,896. Partner all that with the fact that many of the government programs we rely on to subsidize these costs are…

Chris Orestis Radio Tour Teaches the Public about using Life Insurance Policies to Pay for Care

July 22, 2013 / Chris Orestis

Life insurance industry expert, Chris Orestis, goes on a nationwide radio tour to inform seniors of new possibilities to help pay for long term care. Chris is working to get the word out to seniors and their families that they can use a life insurance policy to pay for long term care whether home care, assisted living or nursing home care. Many seniors who need care have to go through a Medicaid spend down to qualify for Medicaid which means they must use a Medicaid…

Long Term Care Insurance

July 17, 2013 / Chris Orestis

If the Long Term Care Insurance Market Collapsed, How are Seniors going to Pay for Care? In 2000, there were over 100 Long Term Care Insurance Companies and today there are maybe a dozen What happened? In less than 15 years the long term care insurance market has almost disappeared. Major insurance companies such as MetLife, Prudential, UNUM, and the Guardian have quite the market and no longer sell policies. The only companies left have been forced to raise premiums on families that bought policies…

Long Term Care Commission takes on the Long Term Care Funding Crisis

July 3, 2013 / Chris Orestis

Life Care funding is aware of the troubles the US government’s Long Term Care Commission and Medicaid will be soon facing with long term care, and we have a solution. The Long Term Care Commission appointed by Congress to study and make recommendations about the rapidly escalating crisis facing Americans and their ability to pay for long term care, met for the first time in Washington, DC on Thursday, June 27th and the Long Term Care Commission’s prognosis was dire. It has long been known that…

Avoid Life Insurance Loans and Credit Programs

July 1, 2013 / Chris Orestis

Seniors beware of life insurance loan and credit funding programs that could disqualify you from future Medicaid eligibility. Seniors that own life insurance policies can convert their death benefit into a living benefit to help pay for Senior Care Services. The practice of converting a life insurance policy into a Life Care Benefit has been an accepted method of payment for Private Duty In-Homecare, Assisted Living, Skilled Nursing, Memory Care and Hospice Care for years. Instead of abandoning a life policy because they can no…

Fighting For Elder Care Services and Senior Care Rights

June 28, 2013 / Chris Orestis

Life Care Funding has been a Senior Care Rights advocate for years fighting to make sure seniors know they have the right to use a life insurance policy to pay for Elder Care services Life Care Funding was founded with the sole purpose of helping seniors remain financially independent so they can choose the form and setting of elder care services they want. Whether it is Private-Duty Homecare, Assisted Living, Nursing Home Care, Memory Care, or Hospice Care; seniors have the legal…

How to Pay for Elder Care

June 20, 2013 / Chris Orestis

How to pay for Elder Care: Homecare, Assisted Living, Nursing Home, Memory Care or Hospice One of the biggest challenges facing seniors and their families today is how to pay for Elder Care, especially the various forms of Elder Care. Elder Care or Senior Care can come in many different forms. There is Private Duty Homecare and Skilled Home Health Care. There is Independent Living, Assisted Living and Continuing Care Retirement Communities. There are Memory Care Facilities, Nursing Homes and Hospice Care. All forms of…

New York Medicaid Life Settlements

June 18, 2013 / Chris Orestis

Legislative Overview: Medicaid Life Settlement conversion of a life insurance policy into a Long Term Care Benefit Plan NEW YORK STATE ASSEMBLY, SENATE HEALTH COMMITTEE BILL NUMBER: S5721 As New York becomes the eighth state to introduce legislation to promote Medicaid Life Settlement conversions of life insurance policies into Long Term Care Benefits, and Texas becomes the first to enact this legislation into law, Life Care Funding was asked to provide some insight and commentary into what this new law means for consumers seeking the…

The Medicaid Life Settlement Plan

June 11, 2013 / Chris Orestis

Medicaid Life Settlement Laws Victory! State laws supporting your right to convert a life insurance policy to pay for Homecare, Assisted Living and Nursing Home Care pass around the country So far in 2013, eight states have introduced legislation based on Life Care Funding’s Long Term Care Benefit program as a way to encourage more use of Private Pay Solutions for Homecare, Assisted Living and Skilled Nursing through the conversion of a life insurance policy into a Medicaid Life Settlement Plan. This practice is already…

Searching for Private Pay Solutions as the Long Term Care Funding Crisis Worsens

May 8, 2013 / Chris Orestis

Private Pay Solutions for Long Term Care

Unprepared for the Future Americans are doing little to prepare for long term care and are not very concerned. And maybe they don’t need to be concerned— because they need to be terrified! A recent poll released by AP-NORC Center for Public Affairs Research, and reported in the national media, verified a major factor contributing to the long term care funding crisis in this country: Two out of every three people over the age of 40, according to the poll, have made no plans about…

Life Care Funding CEO to Testify Before Maine Senate on Long Term Care

April 23, 2013 / Chris Orestis

Chris Orestis, CEO, Life Care Funding, will testify before the Maine Senate Committee on Insurance and Financial Services. LD 1092 is the first bill in Maine to inform life insurance policy owners that they can convert a policy into a Long Term Care Benefit Plan as part of a Medicaid qualified spend-down.

How to Pay for the Cost of Senior Care with Life Insurance

April 22, 2013 / Chris Orestis

This video explains the process of converting your life insurance plan into an immediate long term care benefit account to pay for the cost of senior care. Any type of life insurance could qualify for a long term care benefit plan, to help with the ever rising cost of senior care. Contact Life Care Funding today to see how we can help you and your loved ones.

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Recent Testimony before the Texas House Committee on Long Term Care

March 23, 2013 / Chris Orestis

Texas State Legislature, Texas House Committee on Human Services Testimony

HB 2383 and SB 1321 Testimony before the Texas House Committee on Long Term Care Tuesday, March 26, 2013 Presented by Chris Orestis, CEO of Life Care Funding My name is Chris Orestis and I am the CEO of Life Care Funding. Our company was founded five years ago with the mission to help seniors and their families extend their ability to pay for their choice of long term care by converting a life insurance policy into a Long Term Care Benefit Plan. Too…

What is a Long Term Care Benefit Plan?

February 6, 2013 / Chris Orestis

* Convert a life insurance policy into a monthly benefit for Senior Care in as little time as 30 days * All forms of Senior Care qualify: Home Care, Assisted Living, Memory Care, Nursing Home, and Hospice * Term Life, Universal Life, Whole Life and Group Life policies all qualify * Benefit is flexible and can be adjusted as care needs change * Final expense benefit * No fees and no premium payments A Long Term Care Benefit Plan is a unique, tax advantaged financial…

Policy Conversion Report Released by Florida Medicaid Department

January 18, 2013 / Chris Orestis

The report and accompanying legislation includes the “Private Option” to convert a policy into a Long Term Care Benefit Plan modeled after Life Care Funding (see page 6 of the Medicaid Department Report). A powerful coalition of interests have come together to support the use of life insurance as a tool to pay for the costs of long term care. The Florida Health Care Association, the Florida Chamber of Commerce, AARP, the Florida Assisted Living Federation, the life insurance industry (carriers and agents), and the…

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