Maine Lawmaker’s Bill Highlights Novel Option for Affording Long-Term Care

April 29, 2013 / Chris Orestis

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…

Bill Aims to Give Maine Seniors Another Option to Pay for End-of-Life Care

April 25, 2013 / Chris Orestis

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.

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

April 23, 2013 / Chris Orestis

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

Recent Testimony before the Texas House Committee on Long Term Care

March 23, 2013 / Chris Orestis

Texas State Legislature, Texas House Committee on Human Services Testimony

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

Governors Brace for Inevitable Cuts to States as Debt Debate Rages On

July 16, 2011 / Chris Orestis

The rancorous debate in Washington over whether to raise the federal debt ceiling is alarming many of the nation’s governors from both parties, who fear that whatever the outcome, much-needed money will almost certainly be drained from their states. If the federal debt limit is not raised, several governors said as they gathered here on Friday for the semiannual meeting of the National Governors Association, the ensuing default will harm the economy, make it difficult for states to borrow money and delay some of the…

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State Health Care

Majority of States Proposing Medicaid Cuts for Fiscal Year 2012

June 7, 2011 / Chris Orestis

Senator Jay Rockefeller (D-WV) said, “My worry is that Medicare is now considered untouchable by Democrats and therefore we’ll turn to Medicaid. There isn’t the passion to defend Medicaid because the Medicaid population doesn’t represent a political threat.” In an interview with KHN, Rockefeller discussed his concerns for the program and for the people who rely on it. Facing budget shortfalls and a sluggish economy, many U.S. states are proposing Medicaid cuts for fiscal year 2012, according to a new report from the National Association…

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Senior Budget Cuts, State Health Care

Governors Get Advice for Savings on Medicaid

February 5, 2011 / Chris Orestis

In light of massive budgetary shortfalls in many states, a letter was sent from U.S. Health and Human Services Secretary Kathleen Sebelius to governors on Thursday listing ideas for reducing Medicaid costs without making drastic cuts across the board. Among the suggestions were taking steps to reduce fraud, selectively reducing benefits and reducing the overuse of expensive prescription medications. Although all the suggestions are reasonable, governors indicated that they would not do enough to help make budgetary ends meet. A number of states are still…

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Medicaid, State Health Care

Long Term Care Insurance Policies in Financial Danger Moved to State Funded and Managed “Risk Pool”

December 8, 2008 / Chris Orestis

A large number of long term care insurance policies sold by Conseco Insurance company a number of years ago needed to be moved to a state managed risk pool last month to ensure they would remain solvent. The Pennsylvania Insurance Department took over 150,000 policies– taking an action described as a “shocker”. These were older policies that had been under priced when sold years ago and had been a drag on the insurance company’s revenues ever since. According to the Insurance Commissioner of Pennsylvania, policy…

Posts tagged "State Health Care"

Maine Lawmaker’s Bill Highlights Novel Option for Affording Long-Term Care

Bill Aims to Give Maine Seniors Another Option to Pay for End-of-Life Care

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

Recent Testimony before the Texas House Committee on Long Term Care

Governors Brace for Inevitable Cuts to States as Debt Debate Rages On

Majority of States Proposing Medicaid Cuts for Fiscal Year 2012

Governors Get Advice for Savings on Medicaid

Long Term Care Insurance Policies in Financial Danger Moved to State Funded and Managed “Risk Pool”

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