Senior Independent Living Community Contracts
Value for everyone
At Sierra Winds, an independent living community in Peoria, AZ., our mission is to serve seniors looking to expand their day-to-day experiences. And provide value to everyone.
That’s why now for a limited time, you can save $40,000 or more over the Life of Your Contract.
While you prepare for your move to Sierra Winds, our team of skilled, compassionate individuals will help guide you through the process. We offer a range of move-in resources and concierge services to assist you and your family.
Not all Life Plan communities are created equal.
As you research your senior living options, you’ll discover that not all Life Plan communities are alike. Here are the primary types of contracts you’re likely to encounter:
Type A, aka LifeCare®
This type of contract promises to care for residents for the rest of their lives without significantly increasing their monthly fees. Type A contracts offer peace of mind but require a one-time entrance fee (also known as a “buy-in”) that is up to 100% refundable to you or your estate. It’s the gold standard for Life Plan communities.
Type B, Modified Plan
All things being equal, this type of contract requires a lower monthly fee than Type A, and possibly a lower entrance fee. However, if you move to a higher level of care, such as assisted living or skilled nursing, you’ll be responsible for some of the cost. Typically, this type of contract provides either 1) a limited number of free days of health services with additional care at per diem market rates, or 2) an ongoing minimally discounted rate for health services.
Type C, Fee-for-Service
All things being equal, a fee-for-service contract typically requires the lowest monthly fees and possibly the lowest entrance fees compared to Types A and B. However, if higher levels of care, such as assisted living or skilled nursing, are required, your monthly fee will increase to reflect the market rate.
Rental contracts require no entrance fee or perhaps a nominal community fee. However, the monthly service fee may be higher than you’d pay in a comparable entrance fee community. If at some point you require a higher level of care, such as assisted living or skilled nursing, you’ll pay the full market rate.
A residency counselor can help you compare your options, answer your questions, and make the choice that’s best for you.