FINAID for Decision Makers is 1 of 4 products in the FINAID Software Suite. This product is designed for individuals with responsibility for final financial qualification decisions regarding prospective residents. Subscribers of this product can achieve an objective financial screening process that is consistent with their community’s benevolence policies and resources.
FINAID for Decision Makers compares projected income and assets for prospective residents with their projected expenses including monthly fees, personal expenses, taxes, and so forth. The software uses actuarial tables that reflect a distribution for the length of time that a resident will survive in each care level based on their demographic characteristics. These distributions are based on either: (a) our proprietary CCRC actuarial tables that use selected experience from a database with 2 million life-years of exposure; or (b) experience-rated actuarial tables that reflect the specific CCRC’s prior history.
Contact Lynn Guastello to obtain the FINAID v6 demonstration file with the latest enhancements, as well as to obtain information about all products in the FINAID Software Suite.