Life Care Funding CEO Chris Orestis is interviewed by the InsureBlog about how people are using life insurance policies to pay for senior care by converting their death benefit into a living benefit in the form of a tax-free Long Term Care Benefit Account. To read the full interview, click here http://www.insureblog.blogspot.com/2015/09/funding-long-term-care-voila-5.html Share on FacebookShare on TwitterShare on Google+
In this national news story by Chris Orestis published by Life and Health Advisor, Chris talks about the expensive costs of long term care and the need to access funding options. He talks about the differences between private-pay and Medicaid, and the disadvantages for those that go onto public assistance to pay for their care. One option covered is converting life insurance policies into a Long Term Care Benefit Plan that will allow you to choose any form of senior care you want. To learn…
Assisted Living Facilities.org, one of the leading long term care websites, gave their highest rating to Life Care Funding as a financial option to pay for senior care services. After extensive research and a grueling interview and due diligence process, Life Care Funding received their prestigious recognition. To learn more, click here: http://news.sys-con.com/node/3409768 and to read the entire rating on AssistedLivingFacilities.org, click here: http://www.assistedlivingfacilities.org/resources/ways-to-pay-for-assisted-living/life-care-funding/ Share on FacebookShare on TwitterShare on Google+
In this national press story, Chris Orestis talks about the SIX Stereotypes that family members fall into when handling long term care for a loved one. Which one of these are you? 1) Caretaker 2) Bookkeeper 3) Chauffer 4) Guardian 5) Denier 6) Know-it-All // Read more about each Family Stereotype: http://www.richmondregister.com/community/are-you-a-denier-or-a-know-it-all-when/article_58736a42-191e-11e5-ba16-af0fec959187.html Share on FacebookShare on TwitterShare on Google+
In this Blog post by Chris Orestis for A Place for Mom, Chris discusses what he saw and learned at the 25th Annual Meeting of the Assisted Living Federation of America (ALFA). The meeting was a very insightful look into the future of the world of senior care. During this gathering of industry leaders, new initiatives were announced and topics of importance to our nation’s seniors were discussed in great detail. Life Care Funding has long played a leading role in the industry as a senior…
In this article by Chris Orestis for NAFA, Chris discusses the financial crisis impacting the United States driven by the a growing senior population in need of expensive long term care. Seniors and political leaders are both looking for more private pay options so that people are not forced to go onto tax payer funded Medicaid to cover their costs. When a person goes onto Medicaid they must be below the poverty line and lose their ability to choose what kind of care they want…
Here is the latest Television commercial featuring Chris Orestis, CEO of Life Care Funding! In this ad, Chris introduces his newest “Senior Living” Blog for the Portland Press Herald. You are invited to learn more about Healthy Living Secrets, Financial Tips and Information, how to prepare for Long Term Care, Political Insights, and strategies to make the most of your senior years. View the commercial below, then join in the conversation. Share on FacebookShare on TwitterShare on Google+
In this Blog post by Chris Orestis for the Society of Senior Care Advisors (CSA); Chris discusses the importance of understanding the variety of private pay funding options that are available to help families. Most people do not plan for long term care. Too few understand the differences between Medicare and Medicaid and what is required to qualify. People are also uninformed about the variety of private pay funding options such as the Veteran’s Aide & Attendance Benefit; converting life insurance into a Long Term…
In this Blog post by Chris Orestis for the Portland Press Herald; Chris discusses the important impact that relationships have on quality of life and longevity. As we age, our relationships will evolve and we must evolve with them. Studies have shown that people with active and positive relationships have better physical and mental health. There are four primary relationship types that people will navigate in their lifetime: Professional Social Ancestral Spousal To learn more, read the entire post on the Senior Living Blog: http://contributors.pressherald.com/lifestyle/senior-living/relationships-aging-well-enough-healthy-living/ Share…
Life Care Funding A Solid Option to Finance Senior Care and Housing Many Americans have resources invested in life insurance policies but don’t know they can access the funds to help pay for senior care. They’re under the impression that life insurance only applies to a death benefit, but that’s no longer the case. When doing so, the policyholder can immediately direct tax-free payments to cover senior housing and long-term care costs. The only caution, be careful which method to use when accessing the funds….
In this Blog post by Chris Orestis for A Place for Mom, Chris discusses that the most desirable forms of long term care are most often “private pay”. Medicare and Medicaid is restrictive in what it will cover and the requirements to qualify are extensive and very specific. Some people mistakenly look to Medicaid as a first resort to cover their costs of care, when in fact it is designed to be a last resort. But, what should people know about private pay funding options and…
In this Blog post by Chris Orestis for the Portland Press Herald; Chris explores the importance of adaptability to aging well. As people age they will be confronted with numerous changes. These changes will impact their physical/mental condition; their family and friends; and their interaction with their environment. A person’s ability to respond well to change and adapt successfully will have a significant impact on their quality of life and longevity. Read the entire post on the Senior Living Blog. Share on FacebookShare on TwitterShare…
In this Blog post by Chris Orestis for the Portland Press Herald; Chris explores the importance of a positive attitude as an essential element of aging well. There are numerous strategies people can follow to help shape their attitude as they age. There are also a number of examples of people over the decades who achieved great things in their “senior years” and they all shared a common trait– a positive attitude no matter what the challenges were they needed to overcome. Read the entire…
February 10, 2015, Los Angeles, CA – A special webinar program will provide insurance agents and brokers with insight into the opportunities to convert unneeded life insurance policies to pay for long term care. “There is a staggering $20 Trillion of life insurance in force and undoubtedly many of those folks, especially seniors, no longer really need the death benefit, but they do need money to pay for care,” declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). Slome will…
In this blog post by Chris Orestis for A Place for Mom, the importance of educating seniors and their families on the various options for funding senior living and long term care is discussed. Too many families face the realities of long term care unprepared and uninformed about the costs and financial resources that are available. It is important that long term care service providers working in home care, assisted living, and skilled nursing help families understand and access financial resources. No one should assume…
Do you know your Quality of Life Factors? In this blog post by Chris Orestis for his weekly column in the Portland Press Herald, Chris walks us through the importance of“Quality of Life Factors” and how they impact aging well: Attitude Adaptability Relationships Activities Diet Exercise Sleep Mental Sharpness Click here to read the entire post on the Senior Living BLOG: http://contributors.pressherald.com/lifestyle/senior-living/aging-well-healthy-living/ Share on FacebookShare on TwitterShare on Google+
Welcome to “Senior Living” by Chris Orestis // Portland Press Herald Life Care Funding is pleased to announce that CEO Chris Orestis is the newest blog columnist to be invited to the Portland Press Herald. Chris’ blog will bring fresh insight and information every week to seniors and their families about how to get the most out of their Senior Living Years. Chris Orestis, CEO of Life Care Funding, is an 18-year veteran of both the insurance and long-term care industries. A former Washington DC lobbyist, he…
Image courtesy of Kaiser Family Foundation // LTC Comment: As the importance of private-pay funding for long-term care grows in the eyes of families and law makers, Chris Orestis shares his ideas for applying life insurance to the problem in today’s guest column after the ***news.*** LTC BULLET: LIFE INSURANCE FOR LTC LTC Comment by Steve Moses: For decades qualifying for Medicaid LTC benefits has been an open invitation to terrible financial planning. Only to get those benefits would people do otherwise idiotic things like…
Life Care Funding CEO Chris Orestis appears on WFAV-FM to discuss how to identify signs that your loved one may be in need of long term care. These are particularly important to look for if you haven’t seen your loved one for a while, for example, since the last family get together. Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis was recently featured on the Bill and Joel Show (WDUN-AM 550/FM102.9) discussing how to help aging parents. Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis has become a financial voice for A Place for Mom’s blog. His most recent contribution discusses how to save money by utilizing discounts available exclusively to seniors. Read the full article. Share on FacebookShare on TwitterShare on Google+
It’s never too early to plan for long term care! As the family and friends in our lives get older, it’s important to understand the different types of long term care, how to identify which type may suit your loved one, and how to pay for it. In this Ask the Expert segment, Life Care Funding CEO Chris Orestis helps clarify one young woman’s questions about what kind of care would be best for her aging grandmother. If you have a senior care question, Ask…
It’s never too early to plan for long term care! The reality that it’s time for a loved one to receive long term care often sneaks up on families, making it a challenge to plan financially. In this Ask the Expert segment, Life Care Funding CEO responds to a letter from a granddaughter asking for advice on funding long term care for her beloved grandfather. If you have a senior care question, Ask the Expert! Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis recently appeared on Fox 23’s Good Day Maine to discuss how to know when it’s time for long term care, and how to pay for it. Share on FacebookShare on TwitterShare on Google+
Life Care Funding’s Chris Orestis was recently featured in the Ask America’s Ultimate Experts segment of Woman’s World Magazine, sharing his favorite discounts for seniors. Read the Full Article. Share on FacebookShare on TwitterShare on Google+
Oct 1, 2014, 2:41 PM ET By ALEX VEIGA – AP Business Writer http://www.usatoday.com/story/money/personalfinance/2014/10/04/long-term-care-insurance/16570761/ Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home. But that scenario is likely to get dashed. On average, nearly 70 percent of 65 year-olds will eventually need some form of long-term care, according to the U.S. Department of Health & Human Services. And HHS estimates that 20 percent will need it for more…
Ways to Prepare for Possible Long-Term Care Costs Read this article via the ABC News website. Oct 1, 2014, 2:41 PM ET By ALEX VEIGA AP Business Writer Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home. But that scenario is likely to get dashed. On average, nearly 70 percent of 65 year-olds will eventually need some form of long-term care, according to the U.S. Department of Health…
What would you do if over 100 live lobsters from Maine showed up on your communities door step? Shelly Ealey and the Vinings team in Atlanta, GA figured out the answer to that question by throwing a lobster bake for residents, staff and special guests on Weds, September 3rd. Life Care Funding pulled Vinings’ name from thousands of communities around the United States that had entered the annual Trusted Partner drawing to win an old fashion Maine Lobster Bake. But taking on over 100 lobsters…
PORTLAND, ME. – Congratulations to the residents and staff of Emeritus of Vinings in Atlanta, GA, a Brookdale senior living community, who will get 100 live lobsters flown in from Maine with all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds. “We are very excited to share our favorite taste of summer with all the great folks at Vinings in Atlanta,” says Life Care Funding CEO Chris Orestis. “We…
Letter to the Editor / Bangor Daily News / July 28, 2014 / Chris Orestis / Nursing homes and the people they serve received a much needed financial boost when $13.1 million of combined state and federal matching funds were released. MaineCare is forced to operate with annual budget holes — sometimes in the $100-million range — and it’s the care providers and those they serve who are most threatened. Although this action does not cure the problem, it does provide welcome relief before more…
Retirement planning is paramount for everyone and especially for families considering senior living options. Life Care Funding CEO and company co-founder Chris Orestis is an expert in the field. Orestis comes from a family with a “big senior living and long-term care background” as he describes it. His family is the largest owner and operator of assisted living communities in Maine. He recalls back in 2007 talking about the many seniors who had robust life insurance policies, but just let them fade away by not…
PORTLAND, ME. — Residents and staff of one lucky assisted-living facility will get 100 live Maine lobsters and all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds. “Here in Maine where we’re headquartered, you haven’t celebrated summer if you haven’t dug into a Maine lobster,” says Life Care Funding CEO Chris Orestis. “We thought, what better way to honor seniors and hard-working assisted-living staff than to throw them a…
Veterans Information Services // July 2014 // Welcome to Veterans Family Matters and VAGA News This newsletter is being provided to keep you updated on VA and Department of Defense related issues, to provide interesting articles concerning veterans, and to share information relevant to Veterans and to their families. It is a combined newsletter from the founders and management of Veterans Information Services, Inc. who produce Veterans Family Matters and Veterans Advocates Group of America who produce VAGA News. Use Your Life Insurance to Pay for Senior Care The costs of…
** BLOG commentary** In the June issue of Financial Advisor Magazine, the author of the article LTC Options does a great job analyzing a selection of insurance based options for families to consider as means to pay for long term care services. Among the options presented for the reader: – Converting a life insurance policy into a Long Term Care Benefit – Combo Life/LTCi policies – Chronic care riders – Annuities – Accelerated death benefits – Viaticals and Life Settlements Life Care Funding was pleased to be interviewed…
Chris Orestis, CEO of Life Care Funding and nationally known senior care advocate discusses how to prepare emotionally and financially for senior living. Click the play button to listen to his discussion, or click here. Share on FacebookShare on TwitterShare on Google+
ProducersWeb.com// June 24, 2014 Long term care is a family business that is costing U.S. businesses a lot of money. Over 42 million Americans (21% of all U.S. households) act as family caregivers every year. Many are employed and must cut back on their hours or leave their jobs entirely. In addition, the vast majority of family caregivers contribute significant hours to the care of loved ones without any compensation. According to the U.S. Bureau of Labor Statistics, businesses lose an average of 2.8 million…
San Jose Mercury News By Sharon Caren / Pacifica Tribune Columnist // As the clock struck midnight 2012, almost four million Baby Boomers will have turned 65. I wonder how many of these folks have invested in long -term care insurance policies? Personally, I haven’t yet! Many senior citizens are struggling to pay up to $6,000 per month for Assisted Living or Home Health Care. In addition, many have life insurance premiums costing an additional $5,000 to $6,000 annually. When faced with having to choose…
June is Men’s Health Month, a reminder for men to do the things that they generally don’t do as well as women: getting screened for conditions that, detected early, are easily treated; seeking education about health issues, and supporting each other’s well-being. If being happier with good health isn’t enough, then men should consider the extraordinarily high medical cost of poor health – especially during the retirement years, says insurance industry expert Chris Orestis. Just one health incident can wipe out an individual’s savings, leaving…
Life Care Funding began working with Dirigo Design & Development in 2007. Listen to what Chris Orestis has to say about Dirigo, and how it has helped Life Care Funding accomplish its goals. Share on FacebookShare on TwitterShare on Google+
Originally published on SPRY // Over the river and through the woods, to grandmother’s house you go: The holidays are a time for reuniting with loved ones you perhaps haven’t seen in months. If you haven’t visited with your elderly parent in a while, you might be shocked to find them increasingly fragile, demonstrating signs of marked decline that weren’t evident before. In fact, the holidays and their aftermath are the busiest time of year for long-term senior care admissions, says expert Chris Orestis. “This…
Opinion // April 22, 2014 // Chris Orestis // The costs of long-term care are increasing every year, but most families do not understand what they will be confronting when it is their time to start paying for care. Too many people wait until they are in the midst of a crisis situation before they start trying to figure out how the world of long-term care works. Agents and advisors confront this reality every day. People want to remain financially independent and in control of…
FEW sticker shocks are as bracing as the price of hiring someone to help with the simplest activities — bathing, toilet use, dressing, eating and moving. Whether recovering from surgery or a stroke or suffering a chronic illness like arthritis, those needing skilled help need deep pockets indeed. A 2013 report by Genworth Financial, an insurance provider based in Richmond, Va., estimates the national median daily cost of a private room in a nursing home at $230 a day, an increase of 3.6 percent over…
Far too many life insurance policies owned by seniors will never pay a death benefit because they are allowed to either expire, lapse or are surrendered for cash value. The shame of this situation for the consumer is that there are numerous options for them to explore before abandoning a policy. Life insurance is legally recognized as personal property, and the owner has the right to convert their policy to a private- market long term care benefit plan while still alive. Medicaid Eligibility Issue Life…
By Donna Horowitz // The Deal // Apr-15-2014 ET Chris Orestis, CEO of Life Care Funding has written a 230-page e-book on the use of life insurance policies to pay for long-term care. The book, “Help on the Way,” came out Monday, April 14, and has been published by Vook Inc (http://ebook.lifecarefunding.com/). Orestis, who runs a Portland, Maine-based company that helps people convert their policies to cover stays in long-term care facilities, has lobbied extensively in the states to encourage passage of laws allowing people…
* Pay for senior care with life insurance * Home Care, Assisted Living, Nursing Homes * Learn from real family stories * Know your rights * Tips: Medicare, Medicaid, Assisted Living, Home Care PORTLAND, Maine – Chris Orestis, senior health-care advocate and CEO of Life Care Funding, (http://ebook.lifecarefunding.com/),has published a new free e-book, “Help on the Way,” which details the slowly unfolding crisis happening now in the United States: a “Silver Tsunami” of aging Americans with no way to pay for long-term care. Since 2011,…
In the last few years there has been a growing awareness that life insurance policies can be converted to pay for Long Term Care. The company that brought this concept to national attention is Life Care Funding. Since its beginning in 2007, Life Care Funding has grown to a national presence with a network of over 5,000 nursing homes, assisted living communities, and home health care companies that work with them to educate seniors and their families about this alternative funding option for long term…
In the last few years there has been a growing awareness that life insurance policies can be converted to pay for Long Term Care. The company that brought this concept to national attention is Life Care Funding. Since its beginning in 2007, Life Care Funding has grown to a national presence with a network of over 5,000 nursing homes, assisted living communities, and home health care companies that work with them to educate seniors and their families about this alternative funding option for long term…
Aggressive legal threats across the country have become a real concern to insurance agents and financial advisors, elder law attorneys, and families facing long term care funding questions Introduction Dowload White Paper Here – Dangerous Liabilities March 14 Unexpected and dangerous threats in the form of professional and personal liability have emerged in the wake of the growing LTC funding crisis. Law suits and mandated claw-back actions have been brought against families in attempts to recover monies spent on long term care. Insurance and legal…
Twelve states have introduced policy conversion legislation based on the Life Care Funding model since 2013, and Kentucky now joins Texas in adopting this consumer disclosure law to help people remain private pay (March 26, 2014)— Led by Representative Rob Damron, the Kentucky legislature unanimously passes policy conversion disclosure mandate into a Long Term Care Benefit by a vote of 38-0. This consumer protection and tax payer savings measure, introduced so far in CA, FL, KY, LA, MA, ME, MD, NJ, NY, PA, TX and…
In many cases, the proceeds received from converting a life insurance policy insuring the life of a chronically or terminally ill individual into a Long Term Care Benefit Plan will not be subject to U.S. federal income tax. As a general rule, proceeds from the sale of a life insurance policy are subject to U.S. federal income tax; however, the Internal Revenue Code provides special exemptions for sales of life insurance policies insuring the lives of individuals who are terminally ill or chronically ill. In the case…
The Wall Street Journal // By Kelly Greene // State lawmakers are encouraging elderly residents to use life insurance as a way to pay for long-term care—and lower the Medicaid tab in the process.The strategy marks a tacit endorsement of so-called life settlements, a practice in which policyholders sell their policies at a discount in the secondary market and the buyer takes over premiums and consequently collects the death benefit.Texas Gov. Rick Perry signed a law Friday that gives state Medicaid officials the authority to…
The New York Times // By PAULA SPAN // I was visiting an assisted living facility recently with my sister, whose disability made that a prudent choice, when the marketing manager handed us a brochure. It asked, “Did you know a life insurance policy can pay for long-term care expenses?” We did not know, actually, except that some policies have cash value. But this was a different model: A company called Life Care Funding — and there are others — was offering to buy her…
Portland Press Herald- Editorial // The current debate surrounding MaineCare expansion is in full swing. Maine is home to more than 200,000 seniors, and many Mainers rely on MaineCare, our state’s version of Medicaid. As part of the Affordable Care Act, the federal government will pay for MaineCare expansion for the first three years, leaving states responsible starting in year four. But there are alternative ways to realize MaineCare savings. As baby boomers age, the number who will rely on MaineCare for long-term care will…
While sending care packages to troops overseas is a time-honored tradition, Emeritus at Vacaville delivers them to local senior veterans or their surviving spouses during Memorial Day week in an initiative designed to assist them in staying safely in their homes. The program, called “Heroes Emeritus” in honor of the veterans’ service, is part of a national effort by Emeritus Senior Living to deliver more than 2,000 care packages and provide a helping hand with safety measures for seniors. The Heroes Emeritus care packages include…
AgingCare.com– An active life insurance policy is a no-no for individuals who are seeking to spend-down their assets to qualify for Medicaid. Considered an, “unqualified asset,” any life insurance policy with more than $2,000 in value must be dealt with properly before an elder can receive financial assistance from Medicaid. Some seniors end up abandoning their policies, or letting them lapse, by ceasing to pay their monthly premiums. Others surrender their plans in order to receive a pre-determined, “cash surrender value,” a lump sum of…
When Medicaid was created on July 30th, 1965, the entire GDP of the United States was $791.1 billion, and no one could have predicted that by 2013 the U.S. would spend over $2 trillion on health care in a single year. Today, Social Security, Medicare and Medicaid are all in the red and creating havoc for government budgets at the federal and state levels. According to the Chairman of the Federal Reserve, this has become the number one concern about the future of the U.S….
“The KFBK Morning News” features all of the latest news headlines, traffic, money news, and sports. KFBK-AM is rated the #1 station in Sacramento. Are You Prepared For What You’ll Find The Next Time You Visit Your Parents? Chris Orestis, CEO of Life Care Funding and nationally known senior care advocate discusses how to spot the signs that a loved one needs long term care—and how to put a plan of action into place. Share on FacebookShare on TwitterShare on Google+
What to look for when visiting with elderly parents Part One! Part Two! Do you know the signs of potential problems when visiting an elderly parent? Chris Orestis joins Jim Blasingame to reveal some of the warning signs that an aging parent may need to begin transitioning to a life with more help. Share on FacebookShare on TwitterShare on Google+
Talk Back with Chuck Wilder Part One! Part Two! Chris Orestis– Nationally known senior health-care advocate and expert, he is CEO of Life Care Funding. Chris is a former life insurance industry lobbyist with a background in long-term care issues. “Discussing Warning Signs that an Aging Parent Needs Daily Medical Assistance” Share on FacebookShare on TwitterShare on Google+
The Wall Street Journal – By KELLY GREENE // Are you ready for the great family caregiver shortage? The number of potential caregivers available for every person who is at least 80 years old is expected to plummet by 2030 as the older population outpaces the number of younger Americans, according to new research by AARP, the Washington advocacy group for older adults. That means fewer people will be available to take care of elderly relatives, adding to the pressure on younger family members. “There are…
Investment Advisor Magazine (Think Advisor)– One expert expects ‘superficial overview of the importance of the issue’ from commission report; another sees ‘radical’ change in LTC financing – Part 1 Long-term care specialists are at odds over what they believe the Long-Term Care Commission will submit to Congress on Thursday as part of its first set of recommendations to better ensure LTC coverage is available for the elderly and disabled. After the Community Living Assistance Services and Supports (CLASS) Act was repealed by the American Taxpayer…
| FOX Business– One of the biggest question marks hanging over every boomers’ retirement plan is how much money they will need for medical costs. It’s a figure that is impossible to predict, and can be financially devastating if not adequately covered. Rising health-care costs has made long-term care prohibitively expensive for aging Americans. Prolonged hospital stays or long-term care needs like a nursing or rehabilitation home can break budgets, and are generally not fully covered by health insurance or Medicare and Medicaid. Long-term care…
livelux in Money & Power— It’s no secret that people are living better due to better health care, exercise, etc… In the U.S., the average life was just 47 years back in 1900. That has steadily increased to 78 years in 2010. As our population continues to grow, it’s also quickly aging. The main reason is the “Baby Boomer” generation. Each day in the U.S., about 10,000 people turn the golden age of 65 years old. Living longer gives us more time to enjoy life,…
Move seen as solution for cash-strapped seniors needing care in the home and other assistive services PORTLAND, Maine, June 20, 2013 /PRNewswire/ — Owners of a life insurance policy have the legal right to convert a death benefit into a living benefit to pay for Elder Care services of their choice. New legislation is making sure that they are informed of their rights. As highlighted in the Wall Street Journal article of June 17th, “States Ease use of Life Policies for Elder Care,” eight states…
Maine seniors and the state’s cash-strapped MaineCare program could both win under new legislation up for debate Wednesday in the Legislature, according to the bill’s supporters. The legislation, sponsored by Sen. Margaret Craven, D-Lewiston, involves an often overlooked way for seniors to pay for long-term care. The bill aims to help some older consumers who, faced with the prospect of paying for expensive assisted-living and nursing facilities, surrender their life insurance policies in order to qualify for MaineCare, Maine’s version of Medicaid. To qualify for…
If you’re heading home for the holidays, watch for these key signs that your elderly parent should no longer be living alone. Posted Jan. 9, 2014 @ 12:29 pm CantonRep.com Over the river and through the woods, to grandmother’s house you go: The holidays are a time for reuniting with loved ones you perhaps haven’t seen in months. If you haven’t visited with your elderly parent in a while, you might be shocked to find them increasingly fragile, demonstrating signs of marked decline that weren’t…
A new bill in the state could offer consumers a more affordable form of LTC coverage. Seniors living in Maine and who are reliant on the MaineCare program, which is currently strained for cash, may find that a new opportunity is opening up to help them to obtain long term care coverage – which is traditionally quite expensive – through life insurance policies, should lawmakers decide to pass a new bill. This bill does have a notable amount of support already and is currently under…
Multiple States Introduce Laws To Stimulate Private Pay Dollars By Endorsing The Conversion Of A Life Insurance Policy Into A Long Term Care Benefit Plan. Eight major states have introduced ground breaking consumer laws in 2013 to help seniors gain more choice and access to funds to pay for senior care services while saving state Medicaid budgets millions of dollars. Texas was the first state to enact a life policy conversion law to give seniors more senior care choices and save Medicaid Departments and tax…
If your loved one has a life insurance policy, he probably purchased it long ago, thinking to provide support to his family after his death. But a life insurance policy can also provide financial support now, if that’s when the money would be most helpful. To cash out a policy, ask your life insurance company about “accelerated” or “living” benefits. Commonly, the company that originally issued the policy buys it back for 50 to 75 percent of its face value. The amount is decided based…
If you haven’t planned for senior living care, you aren’t alone. Few people do – either because they don’t think they’ll need it or because they want to save their assets for their children and believe that government subsidies will cover any care they need. This doesn’t mean they can’t afford suitable care; it just means the choices may be more limited. Fortunately, just like the variety in settings, styles, and amenities, senior living residences are available at a variety of price points. Costs vary…
According to the National Institutes of Health, nearly seven in 10 people over age 65 will need long term care at some point in their lives. But a recent poll by the AP-NORC Center for Public Affairs Research finds that most Americans don’t believe they’ll ever need long-term care, and don’t plan much for it. A bill in Maine seeks to help seniors pay for this care by using life insurance policies. As Patty Wight reports, supporters say the bill gives seniors more choice about…
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 long term care and…
By Kelly Greene There’s growing recognition among state lawmakers that elderly residents with modest life-insurance policies could be using it to pay for long-term care – and delay, or maybe avoid altogether, having to use Medicaid, which pays for such care for Americans whose resources run out. Now, insurance industry analysts are trying to measure the impact of older adults’ tapping their life insurance to pay for long-term care, rather than surrendering such coverage to qualify for Medicaid. The strategy, explained in the June 17…
Your clients who are nearing retirement age might often wonder why they bother maintaining the life insurance policies they have funded for years. With children grown, the need to provide for beneficiaries in the event of an untimely death has already been eliminated. Further, these policies are considered assets that can have a significant impact when determining Medicaid eligibility. Despite this, recent proposals in several states can give older clients a reason to maintain their policies and provide peace of mind in Medicaid planning. Under…
PORTLAND, ME, Aug 27, 2013 (Marketwired via COMTEX) — Life Care Funding, www.lifecarefunding.com , is undertaking an ambitious national education campaign to make consumers aware that they have the right to use their life insurance policies to finance their long-term care. Life Care Funding developed the model for converting any life insurance policy to a Life Care Benefit, an accepted method of payment for private duty in-home care, assisted living, skilled nursing, memory care and hospice care. Life Care’s pioneering model was endorsed as law…
Expert Offers Tips for Troubleshooting Health-Care Woes We don’t often think of living a long life as a problem, especially for those we love. But what happens when Mom, Dad, a spouse or another beloved family member are in need of regular health care yet are apparently short on finances? Actually, paying for care may be well within your loved one’s means, says insurance expert Chris Orestis. “It’s a secret the life insurance industry has managed to hide for decades: Your policy can be used…
The Commission on Long Term Care 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 27thand the Commission’s prognosis was dire. It has long been known that once the Baby Boom generation started turning 65 the pressure on our country’s ability to fund everyone’s long term care needs would become almost impossible. We are now facing a Silver Tsunami…
One expert expects ‘superficial overview of the importance of the issue’ from commission report; another sees ‘radical’ change in LTC financing Long-term care specialists are at odds over what they believe the Long-Term Care Commission will submit to Congress on Thursday as part of its first set of recommendations to better ensure LTC coverage is available for the elderly and disabled. After the Community Living Assistance Services and Supports (CLASS) Act was repealed by the American Taxpayer Relief Act, better known as the “fiscal-cliff” law,…
One LTC expert says recommendations are ‘Band-Aids,’ while another calls them a ‘step in the right direction’ While the recommendations that the Long Term Care Commission voted Sept. 12 to include in its final report to Congress later this month are “Band-Aids on [the] large and ever-growing problem” of LTC financing, according to one LTC expert, another expert believes the report was “a step in the right direction as it makes very clear that there is a crisis situation facing the country.” The federal Commission…
By PAULA SPAN I was visiting an assisted living facility recently with my sister, whose disability made that a prudent choice, when the marketing manager handed us a brochure. It asked, “Did you know a life insurance policy can pay for long-term care expenses?” We did not know, actually, except that some policies have cash value. But this was a different model: A company called Life Care Funding — and there are others — was offering to buy her insurance policy (if she qualified), pay the…
October 26, 2013 Since ancient times, alchemists have attempted to convert lead into gold; however, none were successful. Now, with our tough economic times, many seniors have seen their golden years turn into lead. The senior population is soaring, due to the influx of baby boomers. Beyond physical health is financial health. Finances will be a major problem for many of them, especially if boomers develop health problems that affect their ability to live independently, notes insurance expert and CEO of Life Care Funding Chris Orestis….
Life Care Funding converts a Life Insurance Policy into a Long Term Care Benefit Plan to help seniors pay for Homecare, Assisted Living and Nursing Home Care PORTLAND, Maine, Oct. 31, 2013 /PRNewswire/ — Life Care Funding announced today the introduction of the Life Care Benefit Plan to five of the top ten Private Duty Homecare Franchises in the United States: First Light, Griswold, Senior Helpers, Synergy, and Visiting Angels. Life Care Funding converts a Life Insurance Policy into a Long Term Care Benefit Plan to pay for the costs…
November 06, 2013 By Linda Koco Citing major shifts in the long-term care insurance marketplace, a big, multi-state long-term care insurance distributor says it is no longer focusing only on long-term care insurance. Instead, LTC Financial Partners has begun nudging its captive and career agencies to use multiple ways to help clients pay for long term care. It’s a modern-day version of the old saw about there being multiple ways to skin a cat. Only this time around, the firm is supporting multiple ways to…
November 2013 By Susan Rupe This month’s observance of Long-Term Care Insurance Awareness Month finds the industry aware that their product is facing yet another challenge. The LTCi market already has taken a beating from low interest rates combined with a high wave of potential claims and the increasing cost of care. Now the introduction of hybrid or combo products could give traditional LTCi products some competition. These hybrid or combo products combine life insurance or annuity products with a long-term care or critical illness…
Lung and brain cancer was too much for Carrie’s dad, a successful businessman. She fought hard to provide the best care and keep him at home. They owned a term life policy they were going to abandon until they learned it could be converted into a Long Term Care Benefit Plan. Hear her talk in her own words about the emotional and financial struggle her family had to endure until they turned to Life Care Funding. Share on FacebookShare on TwitterShare on Google+
In this “Didya Know?” segment, Cara Mae talks about converting Life Insurance Policies into a Long Term Care Benefit Plan. It’s a financial strategy that is gaining popularity and helping many to cover long term care expenses! Share on FacebookShare on TwitterShare on Google+
The Maggie Linton Show is a critically acclaimed Sirius XM radio show which offers stories about individuals who’ve reached for success and achieved their goals. Part One! Part Two! Part Three! Maggie and Chris had a three part interview which went over much more than just Life Care Funding. Maggie asked some very interesting and difficult questions, allowing Chris to show really what a Life Insurance Settlement…
Consumer Protection, Insurance Conversion, Insurance Settlement, interview, Life Insurance Settlements, radio
For the past few weeks, Chris Orestis has been jumping from station to station spreading the word of Life Insurance Settlement. His tour most recently brought him to the station, This Week in America. Chris is nearing the end of radio tour, but he has something different for us today. Chris skype called This Week in America’s Ric Bratton for an interview The setting of the interview was different and so were the topics. Chris and Ric talked about how Life Care Funding can really…
Health Care Industry, interview, Life Insurance Bill of Rights, Long Term Care, radio, Senior Life Insurance, Surrender Life Insurance, video
Chris does it again in a long interview on the Mary Jane Poppoff Show. Mary and Chris talk about how Life Insurance can benefit you before you die. Chris recently went on the Mary Jane Poppoff Show and had an interview filled with information about Life Care Funding. Mary Popp asked some great questions which covered everything from state legislation to funeral coverage. A topic in the interview was about funeral benefits. With a Long Term Care Benefit plan, money is set aside for future…
Economic Crisis, interview, Long Term Care Cost, radio, Senior Life Insurance
Chris visits the The News and Experts show on Money Monday to talk about state legislation, insurance companies, and how you can take advantage of your life insurance policies. Chris was recently on The News and Experts radio show and had a fantastic interview. Chris went over several major issues in the life insurance industry, and explained how Life Care Funding is in the process of solving them. But Something we’re all unsure about is how the Life Insurance companies have been reacting to seniors…
Cost of Care, Insurance Conversion, Insurance Settlement, interview, radio
Life Care Funding CEO and spokesperson, Chris Orestis, has been touring the country. Chris has been hopping from one radio station to another teaching people about a little known life insurance opportunity, selling it. Through Life Care Funding, you can end your life insurance payments, and pay for senior care. Every year thousands of seniors throw away their life insurance policies because they don’t know what Life Care Funding can do for them. Senior care can be extremely expensive, and having to pay for both care and…
Home Care, interview, Long Term Care, radio, State Bills
WOCA Radio Chris Orestis of Life Care Funding appeared on the WOCA radio talkshow ‘Health Matters’ with hosts Hosts Larry Whitler and Robin MacBlane. Click below to listen. Larry Whitler of WOCA brings a personal element to the conversation of funding long term care. Chris discusses the option of using life insurance to cover the expenses of long term assisted living for seniors who cannot qualify for medicare or afford to pay for long term care. WOCA “The Source” talk radio of Ocala on station…
Maine seniors and the state’s cash-strapped MaineCare program could both win under new legislation up for debate Wednesday in the Legislature, according to the bill’s supporters. The legislation, sponsored by Sen. Margaret Craven, D-Lewiston, involves an often overlooked way for seniors to pay for long-term care. The bill aims to help some older consumers who, faced with the prospect of paying for expensive assisted-living and nursing facilities, surrender their life insurance policies in order to qualify for MaineCare, Maine’s version of Medicaid. To qualify for…
Long Term Care, State Bills, State Health Care
According to the National Institutes of Health, nearly seven in 10 people over age 65 will need long term care at some point in their lives. But a recent poll by the AP-NORC Center for Public Affairs Research finds that most Americans don’t believe they’ll ever need long-term care, and don’t plan much for it. A bill in Maine seeks to help seniors pay for this care by using life insurance policies. As Patty Wight reports, supporters say the bill gives seniors more choice about their care and saves the state’s MaineCare program money.
Financial Assistance for Seniors, State Bills, State Health CareThe number of life insurance policies abandoned by seniors these days is staggering. Most are forced to do so in order to become eligible for Medicaid when entering a long term care facility. Insurance companies count on this and collect huge profits as a result of the value of these unclaimed benefits. To protect themselves, seniors need to learn about their rights as life insurance policy owners to discover their options before these critical times arise. A need for consumer protection in this matter has…
Consumer Protection, Insurance ConversionWith the growth of America’s baby boomer population, issues surrounding the long term care industry have taken on a new found importance. Even through careful retirement planning, unforeseen circumstances can create an entirely different set of needs, practically overnight. Too often these topics are forced upon us when an immediate senior care option is needed for us or our family members. When this happens many seniors assume their only option is to abandon the policy in order to qualify for Medicaid. Understanding your other options…
Insurance Conversion, State Bills
Life Care Funding Group (LCFG) specializes in converting the death benefit of an in-force life insurance policy into a Long Term Care Benefit Plan to cover the cost of skilled nursing home care, assisted living, home health, and hospice.
Insurance Conversion, Long Term Care
Beverley Martin is a nurse who has spent years working in hospitals. Still, she says she wasn’t quite prepared emotionally for when she had to put her elderly mother in a nursing home.
“It was terrifying for one thing. Because, you know, you can be in the business forever, but when it affects someone in your family, you really don’t know where to turn.”
Financial Assistance for Seniors, Long Term Care
Chris Orestis Interview at Senior Market Advisor Part 1 // Chris Orestis Interview at Senior Market Advisor Part 2 // I recently sat down with Chris Orestis, a 15 year veteran of both the insurance and long term care industries. Chris spent several years representing the health and life insurance industry as Vice President and Senior Vice President respectively for the Health Insurance Association of America (HIAA) and the American Council of Life Insurers (ACLI). He is an expert on insurance and long term…
Insurance Conversion, Long Term Care, Senior Living
Check out these two videos produced by About.com and Emeritus Senior Living about using Life Care Funding’s Long Term Care Benefit to pay for Senior Care– About.com: Paying for Long Term Care Benefit Using a Life Insurance Policy// Emeritus: How to Use a Life Insurance Policy to Pay for Senior Living// Life Care Funding’s program converts the death benefit of an in-force life insurance policy into a Long Term Care Benefit. Qualifying for the benefit is quick, uncomplicated, and can be done in as little time as 30…
Insurance Conversion, LifeCare Partnerships, Long Term Care CostIt’s never too early to plan for long term care! As the family and friends in our lives get older, it’s important to understand the different types of long term care, how to identify which type may suit your loved one, and how to pay for it. In this Ask the Expert segment, Life Care Funding CEO Chris Orestis helps clarify one young woman’s questions about what kind of care would be best for her aging grandmother. If you have a senior care question, Ask…
It’s never too early to plan for long term care! The reality that it’s time for a loved one to receive long term care often sneaks up on families, making it a challenge to plan financially. In this Ask the Expert segment, Life Care Funding CEO responds to a letter from a granddaughter asking for advice on funding long term care for her beloved grandfather. If you have a senior care question, Ask the Expert! Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis recently appeared on Fox 23’s Good Day Maine to discuss how to know when it’s time for long term care, and how to pay for it. Share on FacebookShare on TwitterShare on Google+
Life Care Funding began working with Dirigo Design & Development in 2007. Listen to what Chris Orestis has to say about Dirigo, and how it has helped Life Care Funding accomplish its goals. Share on FacebookShare on TwitterShare on Google+
Lung and brain cancer was too much for Carrie’s dad, a successful businessman. She fought hard to provide the best care and keep him at home. They owned a term life policy they were going to abandon until they learned it could be converted into a Long Term Care Benefit Plan. Hear her talk in her own words about the emotional and financial struggle her family had to endure until they turned to Life Care Funding. Share on FacebookShare on TwitterShare on Google+
In this “Didya Know?” segment, Cara Mae talks about converting Life Insurance Policies into a Long Term Care Benefit Plan. It’s a financial strategy that is gaining popularity and helping many to cover long term care expenses! Share on FacebookShare on TwitterShare on Google+
For the past few weeks, Chris Orestis has been jumping from station to station spreading the word of Life Insurance Settlement. His tour most recently brought him to the station, This Week in America. Chris is nearing the end of radio tour, but he has something different for us today. Chris skype called This Week in America’s Ric Bratton for an interview The setting of the interview was different and so were the topics. Chris and Ric talked about how Life Care Funding can really…
Health Care Industry, interview, Life Insurance Bill of Rights, Long Term Care, radio, Senior Life Insurance, Surrender Life Insurance, video
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.
Life Care Funding Group (LCFG) specializes in converting the death benefit of an in-force life insurance policy into a Long Term Care Benefit Plan to cover the cost of skilled nursing home care, assisted living, home health, and hospice.
Insurance Conversion, Long Term CareChris Orestis Interview at Senior Market Advisor Part 1 // Chris Orestis Interview at Senior Market Advisor Part 2 // I recently sat down with Chris Orestis, a 15 year veteran of both the insurance and long term care industries. Chris spent several years representing the health and life insurance industry as Vice President and Senior Vice President respectively for the Health Insurance Association of America (HIAA) and the American Council of Life Insurers (ACLI). He is an expert on insurance and long term…
Insurance Conversion, Long Term Care, Senior LivingCheck out these two videos produced by About.com and Emeritus Senior Living about using Life Care Funding’s Long Term Care Benefit to pay for Senior Care– About.com: Paying for Long Term Care Benefit Using a Life Insurance Policy// Emeritus: How to Use a Life Insurance Policy to Pay for Senior Living// Life Care Funding’s program converts the death benefit of an in-force life insurance policy into a Long Term Care Benefit. Qualifying for the benefit is quick, uncomplicated, and can be done in as little time as 30…
Insurance Conversion, LifeCare Partnerships, Long Term Care CostWhat are the factors that are driving us toward a crisis in paying for long-term care? What kind of burdens does this put on the families of senior citizens? What are some of the different forms of long-term care and how do they vary in cost? Life Care Funding CEO Chris Orestis discusses the answers to these questions and more with More than Money Ministries. Share on FacebookShare on TwitterShare on Google+
Senior Care Advocate Explains How To Handle Long-Term Care Costs “The growing senior population that will require nursing homes or other long-term care assistance, and the diminishing resources to pay for that care, may be reaching a crisis point in the United States. Many seniors and their families already struggle with the costs of everyday living, and when long-term care is added it becomes a back-breaking scenario, says Chris Orestis, senior care advocate and CEO of Life Care Funding….” Listen to the radio segment. Share…
Chris Orestis discusses his experience with long term care preparations, as well as what others can do to make sure that they’re ready, too. Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis appears on WFAV-FM to discuss how to identify signs that your loved one may be in need of long term care. These are particularly important to look for if you haven’t seen your loved one for a while, for example, since the last family get together. Share on FacebookShare on TwitterShare on Google+
Life Care Funding CEO Chris Orestis was recently featured on the Bill and Joel Show (WDUN-AM 550/FM102.9) discussing how to help aging parents. Share on FacebookShare on TwitterShare on Google+
Chris Orestis, CEO of Life Care Funding and nationally known senior care advocate discusses how to prepare emotionally and financially for senior living. Click the play button to listen to his discussion, or click here. Share on FacebookShare on TwitterShare on Google+
“The KFBK Morning News” features all of the latest news headlines, traffic, money news, and sports. KFBK-AM is rated the #1 station in Sacramento. Are You Prepared For What You’ll Find The Next Time You Visit Your Parents? Chris Orestis, CEO of Life Care Funding and nationally known senior care advocate discusses how to spot the signs that a loved one needs long term care—and how to put a plan of action into place. Share on FacebookShare on TwitterShare on Google+
What to look for when visiting with elderly parents Part One! Part Two! Do you know the signs of potential problems when visiting an elderly parent? Chris Orestis joins Jim Blasingame to reveal some of the warning signs that an aging parent may need to begin transitioning to a life with more help. Share on FacebookShare on TwitterShare on Google+
Talk Back with Chuck Wilder Part One! Part Two! Chris Orestis– Nationally known senior health-care advocate and expert, he is CEO of Life Care Funding. Chris is a former life insurance industry lobbyist with a background in long-term care issues. “Discussing Warning Signs that an Aging Parent Needs Daily Medical Assistance” Share on FacebookShare on TwitterShare on Google+
The Maggie Linton Show is a critically acclaimed Sirius XM radio show which offers stories about individuals who’ve reached for success and achieved their goals. Part One! Part Two! Part Three! Maggie and Chris had a three part interview which went over much more than just Life Care Funding. Maggie asked some very interesting and difficult questions, allowing Chris to show really what a Life Insurance Settlement…
Consumer Protection, Insurance Conversion, Insurance Settlement, interview, Life Insurance Settlements, radioFor the past few weeks, Chris Orestis has been jumping from station to station spreading the word of Life Insurance Settlement. His tour most recently brought him to the station, This Week in America. Chris is nearing the end of radio tour, but he has something different for us today. Chris skype called This Week in America’s Ric Bratton for an interview The setting of the interview was different and so were the topics. Chris and Ric talked about how Life Care Funding can really…
Health Care Industry, interview, Life Insurance Bill of Rights, Long Term Care, radio, Senior Life Insurance, Surrender Life Insurance, videoChris does it again in a long interview on the Mary Jane Poppoff Show. Mary and Chris talk about how Life Insurance can benefit you before you die. Chris recently went on the Mary Jane Poppoff Show and had an interview filled with information about Life Care Funding. Mary Popp asked some great questions which covered everything from state legislation to funeral coverage. A topic in the interview was about funeral benefits. With a Long Term Care Benefit plan, money is set aside for future…
Economic Crisis, interview, Long Term Care Cost, radio, Senior Life InsuranceChris visits the The News and Experts show on Money Monday to talk about state legislation, insurance companies, and how you can take advantage of your life insurance policies. Chris was recently on The News and Experts radio show and had a fantastic interview. Chris went over several major issues in the life insurance industry, and explained how Life Care Funding is in the process of solving them. But Something we’re all unsure about is how the Life Insurance companies have been reacting to seniors…
Cost of Care, Insurance Conversion, Insurance Settlement, interview, radioLife Care Funding CEO and spokesperson, Chris Orestis, has been touring the country. Chris has been hopping from one radio station to another teaching people about a little known life insurance opportunity, selling it. Through Life Care Funding, you can end your life insurance payments, and pay for senior care. Every year thousands of seniors throw away their life insurance policies because they don’t know what Life Care Funding can do for them. Senior care can be extremely expensive, and having to pay for both care and…
Home Care, interview, Long Term Care, radio, State BillsWOCA Radio Chris Orestis of Life Care Funding appeared on the WOCA radio talkshow ‘Health Matters’ with hosts Hosts Larry Whitler and Robin MacBlane. Click below to listen. Larry Whitler of WOCA brings a personal element to the conversation of funding long term care. Chris discusses the option of using life insurance to cover the expenses of long term assisted living for seniors who cannot qualify for medicare or afford to pay for long term care. WOCA “The Source” talk radio of Ocala on station…
According to the National Institutes of Health, nearly seven in 10 people over age 65 will need long term care at some point in their lives. But a recent poll by the AP-NORC Center for Public Affairs Research finds that most Americans don’t believe they’ll ever need long-term care, and don’t plan much for it. A bill in Maine seeks to help seniors pay for this care by using life insurance policies. As Patty Wight reports, supporters say the bill gives seniors more choice about their care and saves the state’s MaineCare program money.
Financial Assistance for Seniors, State Bills, State Health CareBeverley Martin is a nurse who has spent years working in hospitals. Still, she says she wasn’t quite prepared emotionally for when she had to put her elderly mother in a nursing home.
“It was terrifying for one thing. Because, you know, you can be in the business forever, but when it affects someone in your family, you really don’t know where to turn.”
Financial Assistance for Seniors, Long Term CareLife Care Funding CEO Chris Orestis is interviewed by the InsureBlog about how people are using life insurance policies to pay for senior care by converting their death benefit into a living benefit in the form of a tax-free Long Term Care Benefit Account. To read the full interview, click here http://www.insureblog.blogspot.com/2015/09/funding-long-term-care-voila-5.html Share on FacebookShare on TwitterShare on Google+
In this national news story by Chris Orestis published by Life and Health Advisor, Chris talks about the expensive costs of long term care and the need to access funding options. He talks about the differences between private-pay and Medicaid, and the disadvantages for those that go onto public assistance to pay for their care. One option covered is converting life insurance policies into a Long Term Care Benefit Plan that will allow you to choose any form of senior care you want. To learn…
Assisted Living Facilities.org, one of the leading long term care websites, gave their highest rating to Life Care Funding as a financial option to pay for senior care services. After extensive research and a grueling interview and due diligence process, Life Care Funding received their prestigious recognition. To learn more, click here: http://news.sys-con.com/node/3409768 and to read the entire rating on AssistedLivingFacilities.org, click here: http://www.assistedlivingfacilities.org/resources/ways-to-pay-for-assisted-living/life-care-funding/ Share on FacebookShare on TwitterShare on Google+
In this national press story, Chris Orestis talks about the SIX Stereotypes that family members fall into when handling long term care for a loved one. Which one of these are you? 1) Caretaker 2) Bookkeeper 3) Chauffer 4) Guardian 5) Denier 6) Know-it-All // Read more about each Family Stereotype: http://www.richmondregister.com/community/are-you-a-denier-or-a-know-it-all-when/article_58736a42-191e-11e5-ba16-af0fec959187.html Share on FacebookShare on TwitterShare on Google+
In this Blog post by Chris Orestis for A Place for Mom, Chris discusses what he saw and learned at the 25th Annual Meeting of the Assisted Living Federation of America (ALFA). The meeting was a very insightful look into the future of the world of senior care. During this gathering of industry leaders, new initiatives were announced and topics of importance to our nation’s seniors were discussed in great detail. Life Care Funding has long played a leading role in the industry as a senior…
In this Blog post by Chris Orestis for the Portland Press Herald, Chris discusses the impact on the entire family of long term care for a loved one. Do you know how to recognize the THREE SIGNS that someone needs long term care? Do you know what an ADL is? Do you know if you have become a caregiver? Do you and your family have a “LTC Action Plan” in place? The need for long term care can sneak up on a family or it can spring…
In this article by Chris Orestis for NAFA, Chris discusses the financial crisis impacting the United States driven by the a growing senior population in need of expensive long term care. Seniors and political leaders are both looking for more private pay options so that people are not forced to go onto tax payer funded Medicaid to cover their costs. When a person goes onto Medicaid they must be below the poverty line and lose their ability to choose what kind of care they want…
Here is the latest Television commercial featuring Chris Orestis, CEO of Life Care Funding! In this ad, Chris introduces his newest “Senior Living” Blog for the Portland Press Herald. You are invited to learn more about Healthy Living Secrets, Financial Tips and Information, how to prepare for Long Term Care, Political Insights, and strategies to make the most of your senior years. View the commercial below, then join in the conversation. Share on FacebookShare on TwitterShare on Google+
In this Blog post by Chris Orestis for the Portland Press Herald; Chris discusses the important impact that relationships have on quality of life and longevity. As we age, our relationships will evolve and we must evolve with them. Studies have shown that people with active and positive relationships have better physical and mental health. There are four primary relationship types that people will navigate in their lifetime: Professional Social Ancestral Spousal To learn more, read the entire post on the Senior Living Blog: http://contributors.pressherald.com/lifestyle/senior-living/relationships-aging-well-enough-healthy-living/ Share…
Life Care Funding A Solid Option to Finance Senior Care and Housing Many Americans have resources invested in life insurance policies but don’t know they can access the funds to help pay for senior care. They’re under the impression that life insurance only applies to a death benefit, but that’s no longer the case. When doing so, the policyholder can immediately direct tax-free payments to cover senior housing and long-term care costs. The only caution, be careful which method to use when accessing the funds….
In this Blog post by Chris Orestis for A Place for Mom, Chris discusses that the most desirable forms of long term care are most often “private pay”. Medicare and Medicaid is restrictive in what it will cover and the requirements to qualify are extensive and very specific. Some people mistakenly look to Medicaid as a first resort to cover their costs of care, when in fact it is designed to be a last resort. But, what should people know about private pay funding options and…
February 10, 2015, Los Angeles, CA – A special webinar program will provide insurance agents and brokers with insight into the opportunities to convert unneeded life insurance policies to pay for long term care. “There is a staggering $20 Trillion of life insurance in force and undoubtedly many of those folks, especially seniors, no longer really need the death benefit, but they do need money to pay for care,” declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). Slome will…
In this blog post by Chris Orestis for A Place for Mom, the importance of educating seniors and their families on the various options for funding senior living and long term care is discussed. Too many families face the realities of long term care unprepared and uninformed about the costs and financial resources that are available. It is important that long term care service providers working in home care, assisted living, and skilled nursing help families understand and access financial resources. No one should assume…
Do you know your Quality of Life Factors? In this blog post by Chris Orestis for his weekly column in the Portland Press Herald, Chris walks us through the importance of“Quality of Life Factors” and how they impact aging well: Attitude Adaptability Relationships Activities Diet Exercise Sleep Mental Sharpness Click here to read the entire post on the Senior Living BLOG: http://contributors.pressherald.com/lifestyle/senior-living/aging-well-healthy-living/ Share on FacebookShare on TwitterShare on Google+
Welcome to “Senior Living” by Chris Orestis // Portland Press Herald Life Care Funding is pleased to announce that CEO Chris Orestis is the newest blog columnist to be invited to the Portland Press Herald. Chris’ blog will bring fresh insight and information every week to seniors and their families about how to get the most out of their Senior Living Years. Chris Orestis, CEO of Life Care Funding, is an 18-year veteran of both the insurance and long-term care industries. A former Washington DC lobbyist, he…
Image courtesy of Kaiser Family Foundation // LTC Comment: As the importance of private-pay funding for long-term care grows in the eyes of families and law makers, Chris Orestis shares his ideas for applying life insurance to the problem in today’s guest column after the ***news.*** LTC BULLET: LIFE INSURANCE FOR LTC LTC Comment by Steve Moses: For decades qualifying for Medicaid LTC benefits has been an open invitation to terrible financial planning. Only to get those benefits would people do otherwise idiotic things like…
Life Care Funding CEO Chris Orestis has become a financial voice for A Place for Mom’s blog. His most recent contribution discusses how to save money by utilizing discounts available exclusively to seniors. Read the full article. Share on FacebookShare on TwitterShare on Google+
Life Care Funding’s Chris Orestis was recently featured in the Ask America’s Ultimate Experts segment of Woman’s World Magazine, sharing his favorite discounts for seniors. Read the Full Article. Share on FacebookShare on TwitterShare on Google+
Oct 1, 2014, 2:41 PM ET By ALEX VEIGA – AP Business Writer http://www.usatoday.com/story/money/personalfinance/2014/10/04/long-term-care-insurance/16570761/ Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home. But that scenario is likely to get dashed. On average, nearly 70 percent of 65 year-olds will eventually need some form of long-term care, according to the U.S. Department of Health & Human Services. And HHS estimates that 20 percent will need it for more…
Ways to Prepare for Possible Long-Term Care Costs Read this article via the ABC News website. Oct 1, 2014, 2:41 PM ET By ALEX VEIGA AP Business Writer Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home. But that scenario is likely to get dashed. On average, nearly 70 percent of 65 year-olds will eventually need some form of long-term care, according to the U.S. Department of Health…
USE LIFE INSURANCE TO PAY FOR LONG TERM CARE, LEARN HOW Video Clip Click to Watch: http://www.fleetwoodonsite.com/aaltci/lifecare July 25, 2014 – Insurance agents and financial professionals are invited to view an informational video explaining ways consumers can convert life insurance policies to pay for long term care. The video was recorded at the recent national industry conference organized by the American Association for Long-Term Care Insurance. “Access to this particular video, one of 40 sessions recorded at the conference, is now available free of charge…
// August 2014 • Ben Mattlin // In 1994, the Pennsylvania superior Court ruled that an indigent mother could sue her adult son to pay her overdue nursing-home bills. The case, Savoy v. Savoy, may not have been the first of its kind, but it lit a fuse. Ever since, filial-support litigation has been spreading across the nation. And financial advisors who oversee their clients’ long-term-care planning had better take notice. “In Pennsylvania it’s become a trend,” says Katherine C. Pearson, a professor at Pennsylvania…
Letter to the Editor / Bangor Daily News / July 28, 2014 / Chris Orestis / Nursing homes and the people they serve received a much needed financial boost when $13.1 million of combined state and federal matching funds were released. MaineCare is forced to operate with annual budget holes — sometimes in the $100-million range — and it’s the care providers and those they serve who are most threatened. Although this action does not cure the problem, it does provide welcome relief before more…
Retirement planning is paramount for everyone and especially for families considering senior living options. Life Care Funding CEO and company co-founder Chris Orestis is an expert in the field. Orestis comes from a family with a “big senior living and long-term care background” as he describes it. His family is the largest owner and operator of assisted living communities in Maine. He recalls back in 2007 talking about the many seniors who had robust life insurance policies, but just let them fade away by not…
PORTLAND, ME. — Residents and staff of one lucky assisted-living facility will get 100 live Maine lobsters and all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds. “Here in Maine where we’re headquartered, you haven’t celebrated summer if you haven’t dug into a Maine lobster,” says Life Care Funding CEO Chris Orestis. “We thought, what better way to honor seniors and hard-working assisted-living staff than to throw them a…
Veterans Information Services // July 2014 // Welcome to Veterans Family Matters and VAGA News This newsletter is being provided to keep you updated on VA and Department of Defense related issues, to provide interesting articles concerning veterans, and to share information relevant to Veterans and to their families. It is a combined newsletter from the founders and management of Veterans Information Services, Inc. who produce Veterans Family Matters and Veterans Advocates Group of America who produce VAGA News. Use Your Life Insurance to Pay for Senior Care The costs of…
** BLOG commentary** In the June issue of Financial Advisor Magazine, the author of the article LTC Options does a great job analyzing a selection of insurance based options for families to consider as means to pay for long term care services. Among the options presented for the reader: – Converting a life insurance policy into a Long Term Care Benefit – Combo Life/LTCi policies – Chronic care riders – Annuities – Accelerated death benefits – Viaticals and Life Settlements Life Care Funding was pleased to be interviewed…
ProducersWeb.com// June 24, 2014 Long term care is a family business that is costing U.S. businesses a lot of money. Over 42 million Americans (21% of all U.S. households) act as family caregivers every year. Many are employed and must cut back on their hours or leave their jobs entirely. In addition, the vast majority of family caregivers contribute significant hours to the care of loved ones without any compensation. According to the U.S. Bureau of Labor Statistics, businesses lose an average of 2.8 million…
San Jose Mercury News By Sharon Caren / Pacifica Tribune Columnist // As the clock struck midnight 2012, almost four million Baby Boomers will have turned 65. I wonder how many of these folks have invested in long -term care insurance policies? Personally, I haven’t yet! Many senior citizens are struggling to pay up to $6,000 per month for Assisted Living or Home Health Care. In addition, many have life insurance premiums costing an additional $5,000 to $6,000 annually. When faced with having to choose…
June is Men’s Health Month, a reminder for men to do the things that they generally don’t do as well as women: getting screened for conditions that, detected early, are easily treated; seeking education about health issues, and supporting each other’s well-being. If being happier with good health isn’t enough, then men should consider the extraordinarily high medical cost of poor health – especially during the retirement years, says insurance industry expert Chris Orestis. Just one health incident can wipe out an individual’s savings, leaving…
Originally published on SPRY // Over the river and through the woods, to grandmother’s house you go: The holidays are a time for reuniting with loved ones you perhaps haven’t seen in months. If you haven’t visited with your elderly parent in a while, you might be shocked to find them increasingly fragile, demonstrating signs of marked decline that weren’t evident before. In fact, the holidays and their aftermath are the busiest time of year for long-term senior care admissions, says expert Chris Orestis. “This…
Opinion // April 22, 2014 // Chris Orestis // The costs of long-term care are increasing every year, but most families do not understand what they will be confronting when it is their time to start paying for care. Too many people wait until they are in the midst of a crisis situation before they start trying to figure out how the world of long-term care works. Agents and advisors confront this reality every day. People want to remain financially independent and in control of…
FEW sticker shocks are as bracing as the price of hiring someone to help with the simplest activities — bathing, toilet use, dressing, eating and moving. Whether recovering from surgery or a stroke or suffering a chronic illness like arthritis, those needing skilled help need deep pockets indeed. A 2013 report by Genworth Financial, an insurance provider based in Richmond, Va., estimates the national median daily cost of a private room in a nursing home at $230 a day, an increase of 3.6 percent over…
Far too many life insurance policies owned by seniors will never pay a death benefit because they are allowed to either expire, lapse or are surrendered for cash value. The shame of this situation for the consumer is that there are numerous options for them to explore before abandoning a policy. Life insurance is legally recognized as personal property, and the owner has the right to convert their policy to a private- market long term care benefit plan while still alive. Medicaid Eligibility Issue Life…
By Donna Horowitz // The Deal // Apr-15-2014 ET Chris Orestis, CEO of Life Care Funding has written a 230-page e-book on the use of life insurance policies to pay for long-term care. The book, “Help on the Way,” came out Monday, April 14, and has been published by Vook Inc (http://ebook.lifecarefunding.com/). Orestis, who runs a Portland, Maine-based company that helps people convert their policies to cover stays in long-term care facilities, has lobbied extensively in the states to encourage passage of laws allowing people…
In the last few years there has been a growing awareness that life insurance policies can be converted to pay for Long Term Care. The company that brought this concept to national attention is Life Care Funding. Since its beginning in 2007, Life Care Funding has grown to a national presence with a network of over 5,000 nursing homes, assisted living communities, and home health care companies that work with them to educate seniors and their families about this alternative funding option for long term…
In the last few years there has been a growing awareness that life insurance policies can be converted to pay for Long Term Care. The company that brought this concept to national attention is Life Care Funding. Since its beginning in 2007, Life Care Funding has grown to a national presence with a network of over 5,000 nursing homes, assisted living communities, and home health care companies that work with them to educate seniors and their families about this alternative funding option for long term…
The Wall Street Journal // By Kelly Greene // State lawmakers are encouraging elderly residents to use life insurance as a way to pay for long-term care—and lower the Medicaid tab in the process.The strategy marks a tacit endorsement of so-called life settlements, a practice in which policyholders sell their policies at a discount in the secondary market and the buyer takes over premiums and consequently collects the death benefit.Texas Gov. Rick Perry signed a law Friday that gives state Medicaid officials the authority to…
The New York Times // By PAULA SPAN // I was visiting an assisted living facility recently with my sister, whose disability made that a prudent choice, when the marketing manager handed us a brochure. It asked, “Did you know a life insurance policy can pay for long-term care expenses?” We did not know, actually, except that some policies have cash value. But this was a different model: A company called Life Care Funding — and there are others — was offering to buy her…
Portland Press Herald- Editorial // The current debate surrounding MaineCare expansion is in full swing. Maine is home to more than 200,000 seniors, and many Mainers rely on MaineCare, our state’s version of Medicaid. As part of the Affordable Care Act, the federal government will pay for MaineCare expansion for the first three years, leaving states responsible starting in year four. But there are alternative ways to realize MaineCare savings. As baby boomers age, the number who will rely on MaineCare for long-term care will…
While sending care packages to troops overseas is a time-honored tradition, Emeritus at Vacaville delivers them to local senior veterans or their surviving spouses during Memorial Day week in an initiative designed to assist them in staying safely in their homes. The program, called “Heroes Emeritus” in honor of the veterans’ service, is part of a national effort by Emeritus Senior Living to deliver more than 2,000 care packages and provide a helping hand with safety measures for seniors. The Heroes Emeritus care packages include…
AgingCare.com– An active life insurance policy is a no-no for individuals who are seeking to spend-down their assets to qualify for Medicaid. Considered an, “unqualified asset,” any life insurance policy with more than $2,000 in value must be dealt with properly before an elder can receive financial assistance from Medicaid. Some seniors end up abandoning their policies, or letting them lapse, by ceasing to pay their monthly premiums. Others surrender their plans in order to receive a pre-determined, “cash surrender value,” a lump sum of…
The Wall Street Journal – By KELLY GREENE // Are you ready for the great family caregiver shortage? The number of potential caregivers available for every person who is at least 80 years old is expected to plummet by 2030 as the older population outpaces the number of younger Americans, according to new research by AARP, the Washington advocacy group for older adults. That means fewer people will be available to take care of elderly relatives, adding to the pressure on younger family members. “There are…
Investment Advisor Magazine (Think Advisor)– One expert expects ‘superficial overview of the importance of the issue’ from commission report; another sees ‘radical’ change in LTC financing – Part 1 Long-term care specialists are at odds over what they believe the Long-Term Care Commission will submit to Congress on Thursday as part of its first set of recommendations to better ensure LTC coverage is available for the elderly and disabled. After the Community Living Assistance Services and Supports (CLASS) Act was repealed by the American Taxpayer…
| FOX Business– One of the biggest question marks hanging over every boomers’ retirement plan is how much money they will need for medical costs. It’s a figure that is impossible to predict, and can be financially devastating if not adequately covered. Rising health-care costs has made long-term care prohibitively expensive for aging Americans. Prolonged hospital stays or long-term care needs like a nursing or rehabilitation home can break budgets, and are generally not fully covered by health insurance or Medicare and Medicaid. Long-term care…
livelux in Money & Power— It’s no secret that people are living better due to better health care, exercise, etc… In the U.S., the average life was just 47 years back in 1900. That has steadily increased to 78 years in 2010. As our population continues to grow, it’s also quickly aging. The main reason is the “Baby Boomer” generation. Each day in the U.S., about 10,000 people turn the golden age of 65 years old. Living longer gives us more time to enjoy life,…
Move seen as solution for cash-strapped seniors needing care in the home and other assistive services PORTLAND, Maine, June 20, 2013 /PRNewswire/ — Owners of a life insurance policy have the legal right to convert a death benefit into a living benefit to pay for Elder Care services of their choice. New legislation is making sure that they are informed of their rights. As highlighted in the Wall Street Journal article of June 17th, “States Ease use of Life Policies for Elder Care,” eight states…
Maine seniors and the state’s cash-strapped MaineCare program could both win under new legislation up for debate Wednesday in the Legislature, according to the bill’s supporters. The legislation, sponsored by Sen. Margaret Craven, D-Lewiston, involves an often overlooked way for seniors to pay for long-term care. The bill aims to help some older consumers who, faced with the prospect of paying for expensive assisted-living and nursing facilities, surrender their life insurance policies in order to qualify for MaineCare, Maine’s version of Medicaid. To qualify for…
A new bill in the state could offer consumers a more affordable form of LTC coverage. Seniors living in Maine and who are reliant on the MaineCare program, which is currently strained for cash, may find that a new opportunity is opening up to help them to obtain long term care coverage – which is traditionally quite expensive – through life insurance policies, should lawmakers decide to pass a new bill. This bill does have a notable amount of support already and is currently under…
Multiple States Introduce Laws To Stimulate Private Pay Dollars By Endorsing The Conversion Of A Life Insurance Policy Into A Long Term Care Benefit Plan. Eight major states have introduced ground breaking consumer laws in 2013 to help seniors gain more choice and access to funds to pay for senior care services while saving state Medicaid budgets millions of dollars. Texas was the first state to enact a life policy conversion law to give seniors more senior care choices and save Medicaid Departments and tax…
If your loved one has a life insurance policy, he probably purchased it long ago, thinking to provide support to his family after his death. But a life insurance policy can also provide financial support now, if that’s when the money would be most helpful. To cash out a policy, ask your life insurance company about “accelerated” or “living” benefits. Commonly, the company that originally issued the policy buys it back for 50 to 75 percent of its face value. The amount is decided based…
If you haven’t planned for senior living care, you aren’t alone. Few people do – either because they don’t think they’ll need it or because they want to save their assets for their children and believe that government subsidies will cover any care they need. This doesn’t mean they can’t afford suitable care; it just means the choices may be more limited. Fortunately, just like the variety in settings, styles, and amenities, senior living residences are available at a variety of price points. Costs vary…
According to the National Institutes of Health, nearly seven in 10 people over age 65 will need long term care at some point in their lives. But a recent poll by the AP-NORC Center for Public Affairs Research finds that most Americans don’t believe they’ll ever need long-term care, and don’t plan much for it. A bill in Maine seeks to help seniors pay for this care by using life insurance policies. As Patty Wight reports, supporters say the bill gives seniors more choice about…
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 long term care and…
By Kelly Greene There’s growing recognition among state lawmakers that elderly residents with modest life-insurance policies could be using it to pay for long-term care – and delay, or maybe avoid altogether, having to use Medicaid, which pays for such care for Americans whose resources run out. Now, insurance industry analysts are trying to measure the impact of older adults’ tapping their life insurance to pay for long-term care, rather than surrendering such coverage to qualify for Medicaid. The strategy, explained in the June 17…
Your clients who are nearing retirement age might often wonder why they bother maintaining the life insurance policies they have funded for years. With children grown, the need to provide for beneficiaries in the event of an untimely death has already been eliminated. Further, these policies are considered assets that can have a significant impact when determining Medicaid eligibility. Despite this, recent proposals in several states can give older clients a reason to maintain their policies and provide peace of mind in Medicaid planning. Under…
PORTLAND, ME, Aug 27, 2013 (Marketwired via COMTEX) — Life Care Funding, www.lifecarefunding.com , is undertaking an ambitious national education campaign to make consumers aware that they have the right to use their life insurance policies to finance their long-term care. Life Care Funding developed the model for converting any life insurance policy to a Life Care Benefit, an accepted method of payment for private duty in-home care, assisted living, skilled nursing, memory care and hospice care. Life Care’s pioneering model was endorsed as law…
Expert Offers Tips for Troubleshooting Health-Care Woes We don’t often think of living a long life as a problem, especially for those we love. But what happens when Mom, Dad, a spouse or another beloved family member are in need of regular health care yet are apparently short on finances? Actually, paying for care may be well within your loved one’s means, says insurance expert Chris Orestis. “It’s a secret the life insurance industry has managed to hide for decades: Your policy can be used…
The Commission on Long Term Care 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 27thand the Commission’s prognosis was dire. It has long been known that once the Baby Boom generation started turning 65 the pressure on our country’s ability to fund everyone’s long term care needs would become almost impossible. We are now facing a Silver Tsunami…
One expert expects ‘superficial overview of the importance of the issue’ from commission report; another sees ‘radical’ change in LTC financing Long-term care specialists are at odds over what they believe the Long-Term Care Commission will submit to Congress on Thursday as part of its first set of recommendations to better ensure LTC coverage is available for the elderly and disabled. After the Community Living Assistance Services and Supports (CLASS) Act was repealed by the American Taxpayer Relief Act, better known as the “fiscal-cliff” law,…
One LTC expert says recommendations are ‘Band-Aids,’ while another calls them a ‘step in the right direction’ While the recommendations that the Long Term Care Commission voted Sept. 12 to include in its final report to Congress later this month are “Band-Aids on [the] large and ever-growing problem” of LTC financing, according to one LTC expert, another expert believes the report was “a step in the right direction as it makes very clear that there is a crisis situation facing the country.” The federal Commission…
By PAULA SPAN I was visiting an assisted living facility recently with my sister, whose disability made that a prudent choice, when the marketing manager handed us a brochure. It asked, “Did you know a life insurance policy can pay for long-term care expenses?” We did not know, actually, except that some policies have cash value. But this was a different model: A company called Life Care Funding — and there are others — was offering to buy her insurance policy (if she qualified), pay the…
October 26, 2013 Since ancient times, alchemists have attempted to convert lead into gold; however, none were successful. Now, with our tough economic times, many seniors have seen their golden years turn into lead. The senior population is soaring, due to the influx of baby boomers. Beyond physical health is financial health. Finances will be a major problem for many of them, especially if boomers develop health problems that affect their ability to live independently, notes insurance expert and CEO of Life Care Funding Chris Orestis….
Life Care Funding converts a Life Insurance Policy into a Long Term Care Benefit Plan to help seniors pay for Homecare, Assisted Living and Nursing Home Care PORTLAND, Maine, Oct. 31, 2013 /PRNewswire/ — Life Care Funding announced today the introduction of the Life Care Benefit Plan to five of the top ten Private Duty Homecare Franchises in the United States: First Light, Griswold, Senior Helpers, Synergy, and Visiting Angels. Life Care Funding converts a Life Insurance Policy into a Long Term Care Benefit Plan to pay for the costs…
November 06, 2013 By Linda Koco Citing major shifts in the long-term care insurance marketplace, a big, multi-state long-term care insurance distributor says it is no longer focusing only on long-term care insurance. Instead, LTC Financial Partners has begun nudging its captive and career agencies to use multiple ways to help clients pay for long term care. It’s a modern-day version of the old saw about there being multiple ways to skin a cat. Only this time around, the firm is supporting multiple ways to…
November 2013 By Susan Rupe This month’s observance of Long-Term Care Insurance Awareness Month finds the industry aware that their product is facing yet another challenge. The LTCi market already has taken a beating from low interest rates combined with a high wave of potential claims and the increasing cost of care. Now the introduction of hybrid or combo products could give traditional LTCi products some competition. These hybrid or combo products combine life insurance or annuity products with a long-term care or critical illness…
Maine seniors and the state’s cash-strapped MaineCare program could both win under new legislation up for debate Wednesday in the Legislature, according to the bill’s supporters. The legislation, sponsored by Sen. Margaret Craven, D-Lewiston, involves an often overlooked way for seniors to pay for long-term care. The bill aims to help some older consumers who, faced with the prospect of paying for expensive assisted-living and nursing facilities, surrender their life insurance policies in order to qualify for MaineCare, Maine’s version of Medicaid. To qualify for…
Long Term Care, State Bills, State Health CareAccording to the National Institutes of Health, nearly seven in 10 people over age 65 will need long term care at some point in their lives. But a recent poll by the AP-NORC Center for Public Affairs Research finds that most Americans don’t believe they’ll ever need long-term care, and don’t plan much for it. A bill in Maine seeks to help seniors pay for this care by using life insurance policies. As Patty Wight reports, supporters say the bill gives seniors more choice about their care and saves the state’s MaineCare program money.
Financial Assistance for Seniors, State Bills, State Health CareChris Orestis, CEO, Life Care Funding, will provide testimony before the Texas House Committee on Human Services. HB 2383 and SB 1321 are the first bills in Texas to inform life insurance policy owners that they can convert a policy into a Long Term Care Benefit Plan as a Medicaid-qualified spend-down.
Beverley Martin is a nurse who has spent years working in hospitals. Still, she says she wasn’t quite prepared emotionally for when she had to put her elderly mother in a nursing home.
“It was terrifying for one thing. Because, you know, you can be in the business forever, but when it affects someone in your family, you really don’t know where to turn.”
Financial Assistance for Seniors, Long Term CareLife Care Funding has launched a long term care funding program designed specifically to help families address immediate senior care situations when they have not done any planning for long term care. The combination of two immediate care funding solutions, Life Care Funding’s Long Term Care Benefit Plan and Genworth Financial’s Income Assurance Immediate Need Annuity, can cover the costs of care for as long as a person lives. 10,000 Baby Boomers turn 65 every day and over 70% of them will need to cover…
Life Care Funding has launched a strategic partnership with AgentReview.net to educate agents and advisors about how to use life insurance policies to pay for long term care. The program offers a Certification training program to become an expert advisor about the Long Term Care Benefit Plan and then they are also able to offer a customized version of the new e-Book by Chris Orestis, A Survival Guide to Aging as the author of the book’s forward and their picture and contact information on the…
February 10, 2015, Los Angeles, CA – A special webinar program will provide insurance agents and brokers with insight into the opportunities to convert unneeded life insurance policies to pay for long term care. “There is a staggering $20 Trillion of life insurance in force and undoubtedly many of those folks, especially seniors, no longer really need the death benefit, but they do need money to pay for care,” declares Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI). Slome will…
Ways to Prepare for Possible Long-Term Care Costs Read this article via the ABC News website. Oct 1, 2014, 2:41 PM ET By ALEX VEIGA AP Business Writer Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home. But that scenario is likely to get dashed. On average, nearly 70 percent of 65 year-olds will eventually need some form of long-term care, according to the U.S. Department of Health…
PORTLAND, ME. – Congratulations to the residents and staff of Emeritus of Vinings in Atlanta, GA, a Brookdale senior living community, who will get 100 live lobsters flown in from Maine with all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds. “We are very excited to share our favorite taste of summer with all the great folks at Vinings in Atlanta,” says Life Care Funding CEO Chris Orestis. “We…
USE LIFE INSURANCE TO PAY FOR LONG TERM CARE, LEARN HOW Video Clip Click to Watch: http://www.fleetwoodonsite.com/aaltci/lifecare July 25, 2014 – Insurance agents and financial professionals are invited to view an informational video explaining ways consumers can convert life insurance policies to pay for long term care. The video was recorded at the recent national industry conference organized by the American Association for Long-Term Care Insurance. “Access to this particular video, one of 40 sessions recorded at the conference, is now available free of charge…
PORTLAND, ME. — Residents and staff of one lucky assisted-living facility will get 100 live Maine lobsters and all the fixings for a good old-fashioned “Lobstah” Bake courtesy of Life Care Funding, a firm that converts life insurance policies into long-term health-care funds. “Here in Maine where we’re headquartered, you haven’t celebrated summer if you haven’t dug into a Maine lobster,” says Life Care Funding CEO Chris Orestis. “We thought, what better way to honor seniors and hard-working assisted-living staff than to throw them a…
* Pay for senior care with life insurance * Home Care, Assisted Living, Nursing Homes * Learn from real family stories * Know your rights * Tips: Medicare, Medicaid, Assisted Living, Home Care PORTLAND, Maine – Chris Orestis, senior health-care advocate and CEO of Life Care Funding, (http://ebook.lifecarefunding.com/),has published a new free e-book, “Help on the Way,” which details the slowly unfolding crisis happening now in the United States: a “Silver Tsunami” of aging Americans with no way to pay for long-term care. Since 2011,…
Twelve states have introduced policy conversion legislation based on the Life Care Funding model since 2013, and Kentucky now joins Texas in adopting this consumer disclosure law to help people remain private pay (March 26, 2014)— Led by Representative Rob Damron, the Kentucky legislature unanimously passes policy conversion disclosure mandate into a Long Term Care Benefit by a vote of 38-0. This consumer protection and tax payer savings measure, introduced so far in CA, FL, KY, LA, MA, ME, MD, NJ, NY, PA, TX and…
PORTLAND, Maine—Life Care Funding announced today the introduction of the Life Care Benefit Plan to five of the top ten Private Duty Homecare Franchises in the United States: First Light, Griswold, Senior Helpers, Synergy, and Visiting Angels. Life Care Funding converts a Life Insurance Policy into a Long Term Care Benefit Plan to pay for the costs of any form of Senior Care including Private Duty Homecare. 12 million Americans receive long term care every year and the predominant majority receives their care at home….
PORTLAND, Maine—Life Care Funding, www.lifecarefunding.com, is undertaking an ambitious national education campaign to make consumers aware that they have the right to use their life insurance policies to finance their long-term care. Life Care Funding developed the model for converting any life insurance policy to a Life Care Benefit, an accepted method of payment for private duty in-home care, assisted living, skilled nursing, memory care and hospice care. Life Care’s pioneering model was endorsed as law by the Texas Legislature earlier this summer. “Consumers aren’t…
CA, FL, KY, LA, ME, NJ and TX introduce legislation to stimulate private pay dollars by encouraging the conversion of a life insurance policy into a Medicaid qualified Long Term Care Benefit Plan. Texas first state to enact life policy conversion law to give seniors more long term care choices and save Medicaid tax payers millions of dollars…
Media Advisory: Life Care Funding to Testify before Texas House for Legislation Supporting Life Insurance Policies to Supplement Medicaid Long Term Care Services Bills HB 2383 and SB 1321 Provide Life Policy Conversion Option PORTLAND, Maine—Life Care Funding is a proponent for seniors with life insurance policies and their families who need to pay for long term care. Too often seniors who have paid life insurance premiums for years abandon those policies as they begin preparing for long-term care. Either they can no longer afford…
Life Care Funding to Testify Before Florida Senate in Support of Legislation Supporting Conversion of Life Insurance Policies to Pay for Long-Term Care as a Medicaid Spend-Down. Too often seniors who have paid life insurance premiums for years abandon those policies as they begin preparing for long-term care. Either they can no longer afford the premium payments or their policy is considered an asset that will count against Medicaid eligibility. Life Care Funding provides an alternative option to the lapse or surrender of an in-force life insurance policy to help a family pay for assisted living, home health or nursing home care.
Life Care Funding Applauds Florida Medicaid Department For Introduction of HB535 to the Florida Legislature Bill would provide for conversion of a life insurance policy into a Long Term Care Benefit Plan as part of a Medicaid qualified spend-down PORTLAND, Maine—Life Care Funding applauded the action taken by Rep. Patronis, The Florida Agency on Health Care Administration, and The Accelerated Life Benefits Technical Advisory Workgroup to develop HB 535 introduced into the Florida Legislature. The Workgroup spent a year developing an in-depth report and the…
Life Care Funding Group joins expert panel with AARP, NAIC, AHIP/ACLI, and the Academy of Actuaries at Annual Meeting of National Conference of Insurance Legislators (NCOIL) PORTLAND, Maine—The National Conference of Insurance Legislators’ (NCOIL) Health, Long Term Care and Health Retirement Committee held a hearing to discuss what more can be done to help Americans access private funding options to pay for the growing costs of long term care. The members of the legislative panel representing House and Senate members from across the country voiced…
AARP, Retirement Funding, Senior IssuesAlliance will provide one-stop access to the best senior living and long term care communities and funding options to help families pay for the costs PORTLAND, Maine—Life Care Funding Group and LivingSenior announced today the launch of a strategic partnership between the two companies. The goal of the two companies is to provide education and access to seniors and their families about the best Senior Living and Long Term Care communities in the United States and tools to help families pay for the costs. Millions of…
LifeCare PartnershipsStudy Bill will examine tax dollar savings from converting life insurance policies into long term care benefit plans for Medicaid eligibility (March 12, 2012)— Life Care Funding Group congratulates the Florida legislature for passing HB 5001 during the 2012 legislative session; thereby establishing a task force and time frame to examine the cost savings for Florida tax payers derived through the conversion of existing life insurance policies into long term care benefit plans as part of a required Medicaid spend-down eligibility regimen. An earlier bi-cameral…
Insurance Conversion, State BillsAdditional Support and New Board Members KIRKLAND, Washington—This month the 3in4 Association added 6 new members to its advisory board, and got new support from two insurance carriers: John Hancock and Genworth Financial. “We’re gaining momentum,” says Mark Goldberg, Treasurer of the association that runs the “3 in 4 Need More” campaign. The goal of the campaign is to warn Americans about a looming problem. “The majority will be affected at some point by long-term care needs of themselves or a close family member,” says…
Alliance will help educate millions of consumers about their legal right to convert a life insurance policy into a long term care benefit plan (October 5, 2011) – Life Care Funding Group announced today the launch of a strategic partnership with Virtual Health, the first subscription-based, Aging-in-Place service provider that leverages cutting edge technology with national health providers to offer seniors “control, independence and dignity” and family care givers “a helping hand”. As part of the holistic approach to care, Virtual Health is partnering with…
LifeCare PartnershipsThe Senior Market Expo will involve current private pay funding options to cover the cost of long term care for seniors (August 1, 2011) – A panel discussion entitled Consumer Disclosure Law: The Changing Face of Long Term Care Funding will take place in Las Vegas at the Annual Senior Market Advisor Expo. The panel session will be led by Life Care Funding Group with CEO Chris Orestis as host and moderator. Panelists will include Jayne Sallerson Executive Vice President of Emeritus Senior Living, David Kitaen, CLTC…
Life Care Funding Group will discuss the NCOIL Life Insurance Consumer Disclosure Model Law adoption across the United States (June 28, 2011) – Chris Orestis, the CEO of Life Care Funding Group will open the second day of the annual meeting for the American Health Care Association’s State Associations’ Executive Directors on August 5th. The presentation will focus on the implications for long term care providers of the Life Insurance Consumer Disclosure Model Law passed unanimously in November, 2010 by the National Conference of Insurance…
Assurance Benefit program converts life insurance policy for seniors to pay for long term care (February 22, 2011) – Seattle, Washington – Emeritus Senior Living, a national provider of assisted living services to seniors, announced today that it is partnering with Life Care Funding Group to educate seniors about the financing options available for covering long term care, including assisted living. Emeritus is actively working to raise awareness of the Assurance Benefit offered by Life Care Funding, which converts the death benefit of an active…
LifeCare Partnerships, Retirement FundingLife Care Funding Group provides final testimony advocating for consumer rights and access to information For Immediate Release (November 19, 2010) – The National Conference of Insurance Legislators (NCOIL) passed by super-majority vote the Life Insurance Consumer Disclosure Model Law at their annual legislative meeting in Austin, TX. The members of the Life Insurance and Financial Services Committee heard testimony from Life Care Funding Group, Coventry First, the American Council of Life Insurers (ACLI), and MetLife and then voted 13-7 in favor of immediate passage….
Consumer Protection, Insurance ConversionPolitical and economic realities are driving the need for senior care industry to promote private pay options for senior living and long term care For Immediate Release (November 3, 2010) – During an Election Day presentation at the annual meeting of the American Association of Homes and Services for the Aging (AAHSA), Chris Orestis, President of Life Care Funding Group addressed a crowd of long term care and senior housing executives about the financial realities facing the industry and seniors across the United States. Mr….
Long Term Care, Senior LivingConsumer Benefit Plan converts a life insurance policy into a long term care benefit plan For Immediate Release (October 7, 2010) – Life Care Funding Group announced today the introduction of the Life Care Assurance Benefit Plan. The benefit plan converts a life insurance policy into a long term care benefit that will pay for the costs of long term care services of all forms. For those requiring long term care services such as home healthcare, assisted living and skilled nursing, the Assurance Benefit converts…
Long Term Care InsuranceA Place for Mom to feature Life Care Funding Group’s Funding Solutions for Senior Living For Immediate Release (June 1, 2010) – Life Care Funding Group and A Place for Mom announced today the addition of Funding Solutions for Senior Living to the “Financial Assistance” section of the #1 website in the world for Senior Living resources and referrals. Life Care Funding Group is the leading provider of funding solutions to the senior living industry and works with over 2,500 providers around the U.S. A…
Senate and House send LD 1523 to Governor for Signature For Immediate Release (April 1, 2010) – Life Care Funding Group applauded the actions taken this week by the Maine state Senate and House of Representatives as well as the office of the Superintendant of Insurance to protect Maine’s life settlement disclosure law for everyone regardless of the size of their life insurance policy. Maine passed a law last year requiring the insurance industry to inform every life insurance policy owner in the state…
Insurance Disclosure, State BillsVA Aid & Attendance Benefit will be made available to all Life Care Funding Group Trusted Partners For Immediate Release (February 11, 2010) – Life Care Funding Group announced today that they have launched a strategic partnership with one of the nation’s leading benefits consulting firms, Elder Resource Benefits Consulting (“ERBC”) to bring the VA Aid &Attendance benefit to qualified families across the United States. Life Care Funding Group is a leading provider of “Funding Solutions for Senior Living” and currently works with more than…
Program converts a life insurance policy into a senior living or long term care benefit plan PORTLAND, Maine—Brookdale Senior Living and Life Care Funding Group announced today the introduction of the Life Care Assurance Benefit Plan to Brookdale’s communities across the United States. The program converts a life insurance policy into a benefit that will pay for the costs of senior living or long term care. One of the biggest challenges families face when moving into a senior living community is the monthly expenses. For…
Long Term Care Insurance, Senior LivingFor Immediate Release (December 1, 2009) Portland, ME – Life Care Funding Group and Jo Letwaitis of the Senior Site, Inc. announced today that Ms. Letwaitis will represent the company in the Midwest as an endorsed “Network Partner.” In her role, she will work with senior living facilities, senior care advisors and with families to help them access financial assistance such as a life insurance settlement and the Veteran’s Aid and Attendance benefit through Life Care Funding Group’s “Funding Solutions for Senior Living” program. Ms….
LifeCare PartnershipsOrganizations launch national education campaign about funding solutions and senior support services for millions of families (June 31, 2009) Lewiston, ME — Life Care Funding Group and Aging with Grace announced today that they have launched a national education campaign and will work together to bring their services to millions of families across the United States. Life Care Funding Group is a leading provider of “Funding Solutions for Senior Living” and currently works with more than 60 providers of senior housing and long term care…
Conference Presentations, National Webinars, Seminar Tour, Blog Feeds, News Articles, and Panel of Expert appointments continue at a rapid pace (May 26, 2009) Portland, ME — Life Care Funding Group’s year long public campaign to educate the senior living industry and families across the United States about alternative funding programs such as life insurance settlements continues with national exposure and key endorsements. Numerous media outlets and educational sources for seniors are now focusing on the impact that economy is having and the need for alternative…
Life Care Funding Group Addresses Maine State Bar Association’s Elder Law Section About Life Settlements For Immediate Release Contact: Chris Orestis 888-670-7773 Elder Law attorneys discuss Life Insurance Settlements as a funding option for seniors (March 25, 2009) Chris Orestis, President of Life Care Funding Group, addressed Maine’s leading Elder Law attorneys about the uses of life insurance settlements during their annual MSBA section meeting on Wednesday evening. Before an audience of almost fifty attorneys, Orestis conducted an in-depth overview of the life settlement…
For Immediate Release (November 24, 2008) Lewiston, ME – Life Care Funding Group launched the “Life Care Funding Blog” on their website (www.lifecarefunding.com/blog) this week as a regular forum to analyze the rapidly unfolding economic crisis and its impact on seniors and their families. The Blog will be authored on a weekly basis by Chris Orestis, Life Care Funding Group’s president. Mr. Orestis is a well known authority on senior issues and the insurance industry. He is a contributing editor to numerous publications and has…
For Immediate Release Contacts Listed Below (November 13, 2008) Norwalk, CT – Elderlife Financial Services and Life Care Funding Group announced yesterday the formation of a Strategic Alliance to expand the options families have for funding senior housing and care for their loved ones. The announcement was made by both companies during an Audio-Conference hosted by The SeniorCare Investor on Wednesday, November 12, 2008 to address how the Senior Living industry can help families overcome the challenges of the economic crisis. Elias Papasavvas, CEO of…
For Immediate Release Contact: Chris Orestis 888-670-7773 Life Care Funding Group will discuss process and case studies for industry participants (August 29, 2008) Lewiston, ME – On September 3rd 2-3pm EDT, the American Health Care Association (AHCA) will host a Webinar for companies to learn more about how Life Settlements are being used as a “funding bridge” allowing seniors to put the sale of their home, stocks or other assets on hold by tapping into the market value of an existing life insurance policy first…
(July 8, 2008) Life Care Funding Group (LCFG) released a White Paper this week examining the growth of Life Settlements as an alternative funding vehicle for seniors moving into senior housing and skilled care environments. A Life Settlement is the sale of a life insurance policy by the policy holder while still alive; to an institutional investor that will pay a lot more for the policy than the cash “surrender” value. The institutional investor will then carry the policy as an investment for the remaining…