Life Care matters now more than ever. A Life Care plan is a smart investment that locks in much-reduced rates on future healthcare services delivered on campus, protecting you from rising healthcare costs and making future expenses predictable.
A Life Care Community provides its Life Care Members with financial predictability and security. Here’s how it works.
When a Life Care Member moves in to independent living, they first pay a 90% refundable entrance fee associated with the floor plan selected. They also begin to pay a monthly fee which covers all services, programming, amenities, and bills during their residency. When a Life Care member moves permanently from an independent living residence to a healthcare neighborhood on the same campus, such as assisted living, memory support or skilled nursing, they will swap their independent living monthly fee for a “Life Care” rate. The Life Care rate is a pre-determined, discounted monthly fee – which is up to 50% less than posted rates in the care neighborhoods. This offers great savings and is a nice financial planning tool.
The entrance fee can be considered an asset in the member’s portfolio, because 90% of it will be returned to the resident or his or her estate upon leaving campus. The entry fee is an investment on the front end that assures significant savings on future costs if ever there is a need to move to neighborhoods offering care. Additionally, if the member has any financial hardship, their entry fee can be drawn on to cover community fees.
It should be noted that in order to receive the discounted “Life Care” rate, you must enter the community in independent living and qualify for the Life Care plan. There are other communities that can offer savings on future healthcare costs, but none as strong as Life Care. For more information on Life Care, call Lisa Vellekamp at 972.468.6236 or email her at lvellekamp@thelegacywb.org.
