With long-term care facilities facing increasing financial pressure, who can you turn to?

  • Slow Medicaid reimbursement.
  • Thinning margins.
  • Finally, there's a financial solution that works to keep your facility strong, healthy and growing: Eldercare Financial Solutions.

The challenges long-term care administrators face are not new. But, day by day, they are becoming more complex, potentially reducing already-tight margins. In the past, long-term care facility managers had few options. Now, with Eldercare Financial Solutions, you do.

A financial partner who understands the industry, the regulations - and most important, your needs.

ElderCare Financial Solutions helps increase your cash flow and profits by acquiring life insurance policies from potential residents. In-force life insurance policies are converted into a long-term care benefit paid directy to the facility. This benefit is disbursed monthly, over a period of time, while preserving an end-of-life benefit for the family.

Your facility benefits in three key ways:

  1. Your facility receives monthly funds promptly, bridging the gap until Medicaid payments begin, improving your cash flow
  2. ElderCare Financial Solutions pays at private pay rates
  3. For private pay patients, admission is faster and easier for those who may need to divest in liquid assets

The ElderCare Financial Solutions Program converts a life insurance policy into long-term payments to cover long-term care facility monthly fees. Seniors who anticipate Medicaid-supported extended care must conform to Medicaid spend-down rules and may be forced to abandon their insurance policies. Private-pay residents may own unwanted or unaffordable policies. By acquiring all types of life insurance policies, ElderCare Financial Solutions converts qualified policies into an extended care benefit and pays long-term care facilities at private pay rates.

Waiting for Medicaid payments may take months. With ElderCare Financial Solutions, your facility will receive its first payment within 30 days, followed by regular monthly payments We do it quickly. And, we do it with no extra work for you.


Is there a minimum amount of life insurance required to convert to a long-term care benefit? Yes, $50,000 face value

If a prospective resident owns a life insurance policy with cash value, why shouldn't they just cash in the policy to pay their long-term care expenses? In all likelihood, we will value policies higher than the policy's current cash value.

Who handles the paperwork? Applicants and their families work directly with insurance professionals who do all the paperwork. After evaluation, underwriting and approval, initial and regular monthly payments are issued directly to the facility.

How do facilities' administrators let prospective residents know about our program? All administrators need to do is determine if an applicant owns a life insurance policy. You then refer their family to us and we do the rest - including processing all required documents and approving acquisition of the life insurance policy. We also make your role easier by providing you an attractive, easy-to-understand brochure for you to give to the applicant and family.

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

Who pays the insurance premiums once an insured person participates in this program? ElderCare Financial Solutions does. This relieves the insured entirely of the responsibility for premiums.

When is it time to consider this program? When a policy owner or family anticipates admission to a long-term care facility and is facing Medicaid spend-down rules, or no longer needs or cannot afford his or her policy. Instead of letting it lapse or surrendering for the remaining cash value, this program should be considered.

How does the conversion of a life insurance policy into a long-term care benefit affect an insured's application for Medicaid supported long-term care payments? Life insruance is a personal asset that can be transferred by the owner to another party.

For more information, please contact Regional Director Marilyn Singer at 716-570-6361 or via email at mpsinger@roadrunner.com.




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