Long Term Care Insurance

July 17, 2013 / Chris Orestis

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

Fighting For Elder Care Services and Senior Care Rights

June 28, 2013 / Chris Orestis

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

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

May 8, 2013 / Chris Orestis

Private Pay Solutions for Long Term Care

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

How The ‘Fiscal Cliff’ Affects Health Care: Six Questions

December 26, 2012 / Chris Orestis

By Mary Agnes Carey KHN Staff Writer Dec 04, 2012 The impending “fiscal cliff” is a package of automatic spending cuts and tax hikes set to kick in next month unless President Barack Obama and Capitol Hill agree on a way to stop them. Negotiations to avert the cuts are ongoing and both sides have exchanged offers. The president and congressional Democrats have said they will reduce spending on entitlements, including Medicare, if Republicans will agree to increase tax rates on the highest earners. While…

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Health Care for Seniors, Senior Issues

Seniors Don’t Want to Surrender Life Insurance and go on Medicaid

November 11, 2012 / Chris Orestis

The impact of the long term care funding crisis is felt most directly by the middle class. People that have worked their entire lives and have planned responsibly for the future through the purchase of a life insurance policy find themselves penalized when they reach the point that they require long term care. Compared to the 153 million Americans that own a life insurance policy, less than 10 million own a long term care insurance policy. Medicaid is the default funder of long term care…

Theft By Family Members Most Common Form Of Financial Elder Abuse

September 19, 2012 / Chris Orestis

Family Members Theft Most Common Form Of Financial Elder Abuse

Assisted Living Federation of America (ALFA) A new poll examining financial exploitation of American seniors finds that 79 percent of experts surveyed identified theft or diversion of funds by family members as the most common form of financial abuse. The poll asked state securities regulators, financial planners, health care professionals, social workers, adult protective services workers, law enforcement officials, elder law attorneys, and academics about their experiences with elder abuse. 77 percent of individuals surveyed thought that seniors are very vulnerable to financial abuse, and…

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Senior Issues

Life Care Funding Group Testifies about Long Term Care Funding Options

July 16, 2012 / Chris Orestis

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…

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AARP, Retirement Funding, Senior Issues

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

Long-Term Care Awareness Campaign “3 in 4 Need More” Gains Support

December 6, 2011 / Chris Orestis

KIRKLAND, WA, November 21, 2011 (SEND2PRESS NEWSWIRE) 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…

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Long Term Care, Senior Issues

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Posts tagged "Senior Issues"

Long Term Care Insurance

Fighting For Elder Care Services and Senior Care Rights

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

How The ‘Fiscal Cliff’ Affects Health Care: Six Questions

Seniors Don’t Want to Surrender Life Insurance and go on Medicaid

Theft By Family Members Most Common Form Of Financial Elder Abuse

Life Care Funding Group Testifies about Long Term Care Funding Options

Mandated Budget Reductions will Impact Medicare and Medicaid

Medicare Cuts Could Spark National Trend of Skilled Nursing Layoffs

Long-Term Care Awareness Campaign “3 in 4 Need More” Gains Support

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