152:, and contributed to the report of the Congressional Commission on Long-Term Care. In 2013, eight states introduced the Medicaid Life Settlement legislation to encourage use of private pay conversions of life insurance policies into long-term care benefit plans. By 2015, thirteen states had introduced the legislation and two states had passed it into law. State regulatory bodies are working to pass a model disclosure law which will require that policy owners be informed of their legal right to convert their policy's death benefit for use toward long-term care. Legislation that allows seniors to pay for long-term care through the sale of life insurance policies rather than through Medicaid payments both lower Medicaid bills and increase access to needed care.
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Life Care
Funding worked with the National Conference of Insurance Legislators (NCOIL), the Florida Medicaid Department, the Florida and Texas Health Care Associations, AARP, the insurance industry and life settlement industry to develop private pay funding options that Medicaid would qualify as a
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Seniors with a life insurance policy are not eligible for
Medicaid. Orestis created a model for middle-class people to pay for long-term care when they cannot pay out of pocket or through Medicaid. He made legislation reform recommendations based on his model to the federal Commission on Long-Term
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The company focuses on the use of life settlements as a tax-free vehicle for seniors to pay for Long-Term Care through the creation of an LTC-HSA. What has become known as a “Long-Term Care
Benefit Plan”, is now an accepted form of payment for Senior Care services with every care provider in the
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and now operates as LCX LIFE. The company works with seniors to help them access funding solutions to pay for senior living and long term care, and specializes in settling life insurance policies into Long Term Care funds for customers who cannot afford
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92:. The company was founded by Chris Orestis in 2007. Life Care Funding has contributed to legislation reform to help middle-class people to obtain funding for long-term care.
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spend-down. Orestis has testified before the
National Conference of Insurance Legislators' (NCOIL), state legislatures and special commissions of
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Chris
Orestis, a life insurance industry lobbyist, senior care expert and advocate. The company works with Life Settlements to convert
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United States. The Long-Term Care
Benefit is funded through the life settlement of a life insurance policy and then paid into an
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487:"Maine lawmaker's bill highlights novel option for affording long-term care: life insurance"
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297:"Former insurance lobbyist teaches seniors how to avoid Medicaid for end-of-life care"
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The company is headquartered in Maine and has affiliated offices around the country.
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insured account which sends monthly, tax-free payments to a long-term care provider.
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323:"An Interview on Long Term Care Benefit Plans and Legislation – Part 1"
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699:"Medicaid Privatization Begins in Florida, Likely to Grow Nationally"
606:"Medicaid Privatization Begins in Florida, Likely to Grow Nationally"
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349:"Dwindling Savings Puts Spotlight on Supplemental Income Options"
372:"How to Use a Life Insurance Policy to Pay for Long Term Care"
274:"Our Long Term Care Benefit Plan Provider – Life Care Funding"
438:"New Firm Swaps Life Insurance Policies for Long-Term Care"
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life insurance policies into long-term care benefit funds.
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535:"New Financial Tools Emerge to Help Seniors Stay at Home"
580:"Why it's Time to Change Our Approach to Long-Term Care"
79:, is an American financial, senior care advisory and
512:"How to Pay for Senior Care with Limited Resources"
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632:"Hybrid Policies Add to the LCTi Market Challenge"
753:Financial services companies of the United States
195:"States Ease Use of Life Policies for Elder Care"
763:Financial services companies established in 2007
17:Life Care Funding / LCX LIFE / LifeCare Xchange
220:"Virtual Health Teams with Life Funding Group"
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679:. Insurance News Net Magazine. December 2013
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677:"Feds Eye Life Settlements for LTC Funding"
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514:. Houston Style Magazine. August 14, 2013
394:"LTC Financing in Crisis, Commission Say"
100:Life Care Funding was founded in 2007 by
738:Insurance companies of the United States
243:"Planning and Paying for Long-Term Care"
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461:"A New Way to Pay for Long-Term Care"
295:Darren Fishell (September 12, 2014).
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533:Alyssa Gerace (September 27, 2012).
653:Donna Horowitz (12 February 2015).
440:. Financial Planning. December 2013
748:Companies based in Portland, Maine
655:"Georgia Medicaid bill introduced"
396:. ThinkAdvisor. September 17, 2013
222:. LifeHealth Pro. October 12, 2011
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578:Casey Dowd (September 19, 2013).
485:Jackie Farwell (April 23, 2013).
701:. ThinkAdvisor. October 13, 2013
608:. ThinkAdvisor. October 13, 2013
241:Derek Jones (October 2, 2013).
582:. Fox Business. Archived from
459:Paula Span (October 9, 2013).
193:Kelly Greene (June 16, 2013).
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634:. Insurance News Net Magazine
758:2007 establishments in Maine
630:Susan Rupe (November 2013).
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416:"Cost of Assisted Living"
537:. Reverse Mortgage Daily
559:. Capital Senior Living
199:The Wall Street Journal
557:"Planning Resources"
276:. Elder Care Funding
245:. Griswold Home Care
325:. Producers eSource
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465:The New York Times
370:Anne-Marie Botek.
123:Legislation reform
491:Bangor Daily News
321:Jonathan Davitt.
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54:Headquarters
26:Health care
732:Categories
657:. The Deal
178:References
142:New Jersey
563:March 25,
541:March 25,
518:March 25,
496:March 25,
470:March 25,
444:March 25,
422:March 25,
400:March 25,
378:March 25,
355:March 25,
329:March 25,
306:March 25,
280:March 25,
249:March 25,
226:March 25,
204:March 25,
146:Louisiana
30:Financing
156:See also
64:Services
22:Industry
705:June 5,
683:June 5,
661:June 5,
638:June 5,
612:June 5,
590:June 5,
134:Florida
96:History
70:funding
44:Founder
36:Founded
418:. ALFA
351:. ALFA
148:, and
128:Care.
150:Maine
138:Texas
707:2015
685:2015
663:2015
640:2015
614:2015
592:2015
565:2015
543:2015
520:2015
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472:2015
446:2015
424:2015
402:2015
380:2015
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228:2015
206:2015
114:FDIC
39:2007
102:CEO
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