The Congressional Commission on Long Term Care: Deadline September 12th

August 30, 2013 / Chris Orestis

The Long Term Care Commission Deadline of September 12 is Rapidly Approaching Life Care Funding CEO, Chris Orestis joins panel of experts and submits formal Medicaid Life Settlement policy paper to The Congressional Commission on Long-Term Care The Congressional Long-Term Care Commission will submit final recommendations to the President of the United States and the Congress on September 12th, 2013. Chris Orestis, CEO of Life Care Funding was one of the national experts on Senior Care and Finance to submit a written policy recommendation to…

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

July 3, 2013 / Chris Orestis

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

Mandated Budget Reductions will Impact Medicare and Medicaid

December 20, 2011 / Chris Orestis

As the Super Committee falters in its effort to reduce federal spending, mandated budget reductions create further pressure on the funding of long-term care By Chris Orestis Earlier this year, the so-called Super Committee could not overcome partisan differences over spending cuts and new revenues (taxes) within their mandated deadline and conceded defeat. That unfortunate outcome triggers mandated reductions in the federal budget of $1.3 trillion that will have an immediate impact on Medicare and Medicaid. This will be particularly disruptive for seniors and long…

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Medicaid, Medicare, Senior Issues

Medicare Cuts Could Spark National Trend of Skilled Nursing Layoffs

December 19, 2011 / Chris Orestis

Alyssa Gerace, Senior Housing News, December 18, 2011 According to a study by Avalere Health found that the 11.1 percent Medicare funding cut to nursing homes that went into effect on October 1 will ultimately reduce funding by $79 billion over the next 10 years. Alliance for Quality Nursing Home president Alan Rosenbloom says that if the cuts were phased in over a 3 year period, the impact would not be as drastic. “A gradual phase-in of the federal regulation—which has been done in the…

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Medicare, Senior Issues

Super Committee Holds Fate of Medicare and Medicaid in its Hands

October 25, 2011 / Chris Orestis

“The two most important driving forces for the federal budget are the aging of the U.S. population and rapidly rising health-care costs.” – Federal Reserve Chairman Ben Bernanke Law makers from both sides of the aisle have come together to create a “Super Committee” comprised of six Democrats and six Republicans, half come from the House of Representatives and half come from the Senate. The members of the Super Committee are tasked with finding at least $1.5 Trillion in budget cuts over 10 years….

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Medicaid, Medicare, Senior Issues

Nearly 65? Time for the Medicare Maze

February 16, 2011 / Chris Orestis

From the New York Times By WALECIA KONRAD Published: October 14, 2009 NOW that you’re about to retire, there’s good news and bad news about your health insurance. The good news: When you turn 65, you’re eligible for Medicare — all in all, a pretty affordable way to get coverage for doctor bills, hospitalizations and, more recently, prescription drugs. The bad news: You’ve got a big job ahead of you, sorting through the Medicare bureaucracy. For someone new to the system, the hundreds of…

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Medicare, Senior Issues

Out-of-pocket Costs by Medicare Patients Significantly Dings Incomes

February 5, 2011 / Chris Orestis

Average out-of-pocket Medicare spending hit $3,103 annually in 2006, according to an AARP Public Policy Institute report released this week. About 10 percent of Medicare recipients spend over $8,300 in out-of-pocket funds annually, which translates into about 25 percent of total income for the poorest recipients. Three-quarters of the out-of-pocket spending in 2006 were for nursing home costs, prescription drugs and care providers. Median out-of-pocket spending for long-term health care facilities was $7,611 annually, with 10 percent of beneficiaries spending at least $41,900 for room-and-board…

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AARP, Cost of Care, Medicare

Premiums for the Popular Medicare Advantage Continue to Increase

February 22, 2010 / Chris Orestis

The very popular Medicare Advantage coverage that seniors elect as part of Medicare to cover medical and prescription drug coverage became significantly more expensive in 2010 than it was last year. Reflecting cut backs in government funding, private insurers who offer elective Medicare Advantage coverage decided they would raise rates this year instead of reducing services. This is bad news especially for the 8.5 million seniors currently enrolled in these cost saving programs. The premiums increased by more than double for some seniors that are…

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Cost of Care, Medicare

AARP Supports Health Reform Bill’s $460 Billion Cuts to Medicare

December 2, 2009 / Chris Orestis

In a move that will bolster the Democratic coalition in the Senate and the need to hold on to 60 votes, the AARP announced their support today for the reform plan that includes massive reductions to Medicare. AARP says that the cuts will be paid for in reduced waste and fraud, improved efficiencies and elimination of duplicative benefits. The support of AARP is a huge boost for Democrats that have been struggling to keep the 60 votes needed to prevent a filibuster that would kill…

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AARP, Medicare, Senior Budget Cuts

Cuts Could Keep Hospitals and Nursing Homes From Accepting Medicare

November 17, 2009 / Chris Orestis

In a report released this past Saturday, the government agency that administers Medicare and Medicaid detailed the possible impact of cuts proposed in healthcare reform passed by the House of Representatives. The study states that the proposed $500 billion in cuts would be so severe that hospitals and nursing homes would be forced to stop accepting Medicare as payment. The report says that seniors would suffer form additional reductions in benefits and services to pay for the $500 billion in reduced spending. The White House…

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Medicare, Nursing Home

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Posts tagged "Medicare"

The Congressional Commission on Long Term Care: Deadline September 12th

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

Mandated Budget Reductions will Impact Medicare and Medicaid

Medicare Cuts Could Spark National Trend of Skilled Nursing Layoffs

Super Committee Holds Fate of Medicare and Medicaid in its Hands

Nearly 65? Time for the Medicare Maze

Out-of-pocket Costs by Medicare Patients Significantly Dings Incomes

Premiums for the Popular Medicare Advantage Continue to Increase

AARP Supports Health Reform Bill’s $460 Billion Cuts to Medicare

Cuts Could Keep Hospitals and Nursing Homes From Accepting Medicare

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