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The Advantages of Life Care for Seniors Preparing for the Future

Seniors laughing and playing chess together

You’ve spent most of your life working and taking care of your family. Now it’s time to enjoy the fruits of your labor with an incredible retirement. That’s why you deserve to retire with all the advantages of Life Care at a senior living community like Westminster. 

From predictability to peace of mind, see why Life Care for seniors can help you retire with confidence. 

What Is a Life Plan Community? 

Life Plan Communities (also known as continuing care retirement communities or CCRCs) provide residential living (sometimes called independent living) along with a continuum of care that may include some or all of the following levels of care: assisted living, skilled nursing, rehabilitative services and memory care.

These communities also feature an exceptional lifestyle that includes maintenance-free senior apartments, a variety of services and amenities, a vibrant community filled with friendly residents, delicious dining options, and more.

Are Life Plan Communities and Life Care the Same?

No, Type A Life Care is a kind of contract that many Life Plan Communities offer to prospective residents.  It’s considered the gold-standard contract, because it provides a  predictable fee structure and valuable protection against the rising costs of healthcare. 

Life Care for seniors requires a one-time entrance fee and an ongoing monthly service fee. While these fees are typically higher than with other senior living contracts, you get a great deal for your money: wide-ranging services and amenities, a generous meal plan, priority access to higher levels of living with no or minimal changes in your monthly fee aside from small yearly  adjustments for inflation, and much more. 

At Westminster, once you become a resident, you can remain a resident for life, even if you run out of financial resources through no fault of your own. You can age confidently in our Life Plan Community knowing your needs will always be taken care of. 

What Are Modified Plan and Fee-for-Service Contracts?

Communities that offer a Type B Modified Plan contract  also require a one-time entrance fee and ongoing monthly service fees.These fees are lower than with Life Care contracts, but have limits on the amount of assisted living, memory care, and other healthcare services provided before you need to pay an additional fee. The most common structures for a Type B Modified Plan are 1) a minimally discounted rate, or 2) a limited number of free days, with additional care at per diem market rates. 

A Type C Fee-for-Service contract has the lowest entrance fee and monthly fee for residential living, and provides services and amenities similar to senior living communities that offer Life Care. However, if you require a higher level of living, the monthly fee will increase to the market rate for that level of care. This means you’ll need to pay the entire expense of care, which could cost considerably more in the future than it does now. 

There are also stand-alone senior rentals, which require no entrance fee, just a deposit and monthly rental fees. Your monthly rent doesn’t cover health care services, and you may need to move to a different community, if you need a higher level of care. Your monthly rent will also be unpredictably raised every time you renew your lease. Some rental communities do offer higher levels of care, but you’ll be required to pay full market price.

Keep in mind many communities can offer a combination or all types of senior living plans and contracts. The best way to know which one is right for you is by contacting a senior living expert at the retirement community you’re interested in. 

Life Care Offers Peace of Mind for You and Your Family

When you choose to retire in a Life Plan Community like Westminster, you and your family gain peace of mind knowing your health, happiness, and financial future are protected. Your loved ones won’t have to worry about coordinating quality healthcare or covering the cost of future care. 

Experience the Benefits of Life Care for Seniors at Westminster 

As the first community in Austin to offer Life Care,  Westminster knows what it takes to help you achieve your dream retirement. We have the resources and visionary leadership to enhance the lifestyle of each one of our residents on a personalized level. To learn how you can benefit from Life Care at our senior living community in Austin, TX, contact our residency counselors online, and we’ll get back with you shortly.