What is a Life Care community?

The decision to move to a senior living community is a big one. Understanding your options is critical to choosing the best community for you. Here we explain the benefits of a Life Care contract, the gold standard for people who want to control the cost of care for the rest of their lives.

What sets Life Care apart from the rest?

Life Care contract promises to care for residents for the rest of their lives without significantly increasing their monthly fees. If the need arises for a higher level of care, the resident may transfer to the appropriate level of care at a predetermined, substantially discounted monthly rate for as long as care is needed.

So, for example, let’s say Christie moves from her home where she’s lived for many years into an independent living apartment at a Life Care community.

She makes loads of friends, participates in all kinds of activities offered at the community, feels healthier than she has in years, and her children no longer worry about her. They can see how happy she is and know that help is available at the community night and day, if ever needed.

If at some point Christie needs more assistance than independent living offers, she can move to the appropriate level of living provided at the community — whether it’s assisted living, memory care, skilled nursing or rehabilitation. (It’s important to note that not all Life Plan communities offer all levels of living. At Sierra Winds, for example, our continuum of care does not include assisted living or memory care. But if Christie required some assistance in her independent living residence, but not 24-hour care, she could get the help she needs with Resident Services at an affordable rate in the privacy and comfort of her home.)

Life Care contracts: Predictable monthly fees for life.

At most senior living communities, costs go up substantially for higher levels of care. With a Life Care contract, however, monthly costs are predictable. You pay roughly the same monthly rate for higher levels of care as you pay for your independent living residence. For residents of Life Care communities, the predictability and peace of mind they enjoy is well worth the one-time entrance fee (which is largely refundable and partially tax-deductible at most communities).  Learn more about Life Care at Sierra Winds and why Life Care makes financial sense.

Is a Life Care community the same as a Life Plan Community?

Many people think so, but that’s not always the case. A Life Plan Community, also called a continuing care retirement community (CCRC), offers independent living and a “continuum of care” all on the same campus.

The difference between a Life Care community and a Life Plan Community is in the details — specifically the financial contracts the community offers. A Life Care contract requires you to pay an entrance fee (the average is around $300,000, but it can be $1 million or more in some locations) and a monthly fee. In exchange, you can live in the community for the rest of your life and pay roughly the same monthly fee. At most Life Plan Communities, the entrance fee is partially refundable when you leave the community.

Is a Life Care community right for you?

The big unknown for older adults is how much long-term care they’ll need as they age. According to the U.S. Department of Health and Human Services, someone turning 65 today has almost a 70% chance of needing some type of long-term care in their remaining years. Over just a few years, the costs can be astronomical.

To learn how our Life Care community in Peoria, AZ can help you control the potential cost of long-term care and ensure access to the high-quality care you may need, get in touch. Be sure to ask about our special incentives — with savings of $40,000 or more for a limited time!

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