Finally, there's a simple, financially prudent and dignified way to transition to a long-term care facility.

"It's one of the most important decisions you will ever make. And one of the most complex. Now, ElderCare Financial Solutions can ease the transition to long-term care for you and your family."

The transition to a long-term care facility is rarely simple. Families face a range of issues - medical, legal, lifestyle and financial - which they need to fully understand in order to make the best possible decision. This is the mission of ElderCare Financial Solutions (EFS). If you intend to qualify for Medicaid, we offer an innovative program that eases your admission to a long-term care facility and preserves an end-of-life benefit for your family. For those who do not require Medicaid assistance, we provide an orderly way to make long-term care easy to access.

If you own a life insurance policy, EFS is the answer you've been hoping for.

You may be aware that Medicaid 'spend down' rules require recipients to liquidate all but a few thousand dollars in personal assets before Medicaid pays for  long-term care. Because life insurance is considered a personal asset, Medicaid recipients have often been forced to let their policies lapse in order to receive Medicaid support for long-term care. EFS has a better answer: we will acquire yur life insurance policy from you and remit payments directly to your facility.


Here's how it works.

If you are planning to enter a long-term care facility and intend to apply for Medicaid long-term care support, EFS will purchase your life insurance policy and pay the cost of care directly to the facility, every month, automatically. EFS will continue to pay premiums, if they exist, and keep in reserve an end of life benefit for your family.

If you plan to be a private-pay patient, EFS offers key financial advantages.

Often, individuals and families plan to pay the cost of long-term care by selling a home, securities or other assets. Because the need to enter a long-term care facility can arise suddenly, they can be caught off guard, without the funds they planned to use. By participating in the EFS program, however, families are relieved of immediate financial pressure and able to handle the disposition of their assets in an orderly way, receiving maximum value for their assets, without delaying admission.


I own a life insurance policy with cash value. Why can't I cash it in myself to pay my long-term care expenses? You can, of course, do this. However, EFS in all likelihood will purchase your policy for significantly more than your policy's current cash value.

Who qualifies for the EFS program? Life insurance policy owners who have kept their policies in force.

Is there a minimum amount of life insurance EFS requires to participate in the program? Yes, you must have a policy with a minimum face value of $10,000.

Am I responsible for continuing to pay the premiums if I participate in the EFS program? No. EFS relieves the insured entirely of this responsibility. EFS pays policy premiums.

What type of insurance qualifies? Whole Life. Term Life. Group Life. Adjustable Life. Universal Life.

If I pass away before the full amount of EFS payments to my long-term care facility have been made, what happens to the balance of the benefit? The remaining balance of the long-term care benefit will be distributed to your estate.

How does the conversion of a life insurance policy into a long-term care benefit affect my application for Medicaid? Life insurance with cash value is considered an asset that's included in Medicaid spend-down calculations. By EFS acquiring the policy and converting it to a long-term care benefit, the policy's face value is not included in the maximum asset calculation.

When should I consider the EFS program? When you or your family anticipates admission to a long-term care facility and are facing Medicaid spend-down rules, or you no longer need or cannot afford your policy. Instead of letting it lapse or surrendering it for the reminaing cash value, you should consider the EFS program.

What are my legal rights? Am I permitted to sell my policy? A life insurance policy is a personal asset that can be legally transferred by the owner to another party.

For more information, please contact Regional Director Marilyn Singer at 716-570-6361 or via email at



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