Long term care funding information is important to seniors all across the state! Maine Senior Guide would like to thank our Senior Expo sponsor Life Care Funding for their generous support of our programs in York and Freeport. We also wanted to take this opportunity to remind you that our next Senior Expo will be held Wednesday, October 1, from 9 a.m. – 3 p.m. at the Hilton Garden inn in Freeport.
Chris Orestis, CEO of Life Care Funding will be a featured speaker where he will discuss “What you need to know about Long Term Care Funding” from his Amazon.com bestselling E—Book, “Help on the Way: The BIG insurance secret seniors aren’t supposed to know….”
A brief excerpt from the book is below (click here for a no-cost download of the E-BOOK, which will tell you more about long term care funding options.)
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 funding works. Agents and advisors confront this reality every day.
People want to remain financially independent and in control of their care decisions for as long as possible. People do not want to go onto Medicaid, yet consumers lack awareness and are unprepared for how they are going to cover the costs of Home Care, Assisted Living, Skilled Nursing Care, or Hospice. It is a subject typically ignored until a loved one is in immediate need of care.
Agents and advisors are dedicated to helping clients by finding solutions to their needs and problems. The best way to help families is to provide as much information and access to options as possible. Clients assume advisors are aware of all options in the market that can help them, and expect to be informed so they can make decisions about how to plan and fund their long term care.
Long Term Care Funding: Supply and Demand
In the midst of growing demand and dwindling resources, it is now all too clear that the long term care funding crisis has arrived. The problem for America is the most basic of economic principles– Supply and Demand: “Demand” of seniors that need (or will need) long term care is growing at a much faster rate than the “Supply” of resources (dollars) to pay for their care. This demographic-economic reality has forced the government to reduce benefit levels and raise barriers to entry for the three primary entitlement programs: Social Security, Medicare and Medicaid. The harsh reality is that more of the responsibility to fund retirement and long term care is being pushed back on the individual (and their family).
We have reached the point that we can no longer ignore the realities of an ever growing population that will require long term care, and the diminishing resources to pay for it. People able to sustain themselves with private pay dollars will benefit from access to higher-end senior living environments and care providers, greater choice, more control, and less financial impact on loved ones. Those unable to pay for long term care at some level on their own through the use of savings and assets (such as a life insurance policy conversion), or with the assistance of family, will be forced to rely on the government.
We hope you will find the information and resources available in this book helpful and we encourage you to join us in Freeport on October 1 where you can meet Chris Orestis and learn from his session about “What you need to know about Long Term Care Funding”. Here’s a little more information in a fun video on the Life Care Funding blog.