PORTLAND, ME--(Marketwired - Aug 12, 2015) - Chris Orestis, senior health-care advocate and CEO of Life Care Funding (www.lifecarefunding.com), is pleased to have received recently the highest rating from AssistedLivingFacilities.org, a resource for assisted living that contains a directory of assisted living communities, an assisted living blog and senior-care advice.
Founded in 2007, Life Care Funding specializes in converting the death benefit of an in-force life insurance policy into a Long Term Care Benefit Plan to cover the costs of skilled nursing home care, assisted living, home healthcare and hospice.
"Before the interview, I researched life settlements and found questionable controversy on the topic," writes Carol Marak with AssistedLivingFacilities.org. "Instead of forming negative opinions, I took hard questions to Mr. Orestis and found the opposite. Converting life insurance policies into resources for people to use while living made a lot of sense, and a better choice than having the policy lapse."
Orestis says that we are on the precipice of a potential long-term care crisis.
"It's becoming increasingly difficult to access the best long-term care providers as 10,000 baby boomers are turning 65 every day -- a phenomenon that's been occurring for a few years now and will continue for about the next decade," says Orestis, a former insurance industry lobbyist.
"Seventy percent or more of people older than 65 will require long-term care services. There are already 10 million people receiving such care in the United States, a number that continues to grow."
Worse still, the cost of long-term care is continuing to rise, he says. Fulltime homecare can run between $5,000 and $10,000 every month, and residing in an assisted-living community ranges from about $3,500 to $5,000 each month. Nursing home care costs about $7,000 each month.
"We're high on problems and low on solutions," Orestis says. "We focus on helping people access legitimate solutions."
About Chris Orestis
Chris Orestis, nationally known senior health-care advocate and expert, is CEO of Life Care Funding (www.lifecarefunding.com), which created the model for converting life insurance policies into protected Long-Term Care Benefit funds. His company has been providing care benefits to policy holders since 2007. A former life insurance industry lobbyist with a background in long-term care issues, he created the model to provide an option for middle-class people who are not wealthy enough to pay for long-term care, and not poor enough to qualify for Medicaid.
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