You’ve made the decision to start researching retirement communities. Maybe there are a dozen or so in your area — where do you start? How do you compare options? Which one will be the right fit? The number of questions can be daunting. At Lifespace, we can help you understand the benefits of selecting a community that offers the amenities and services you want while providing the care for life that you need.
What is Life Care?
First, let’s start with the facts: according to the U.S. Department of Health and Human Services, seven in 10 adults over the age of 65 will need long-term care at some point in their life. With rising, uncertain costs surrounding health care, being prepared is a financial uncertainty many retirees aren’t prepared to handle.
With Life Care, predictability is at the core, both from a financial and a care perspective. But what is it exactly? Life Care communities — sometimes referred to as Continuing Care Retirement Communities, or CCRCs — provide a continuum of care to residents in one, centralized location. This means residents can move between their home, to other levels of care as needed, without leaving their community. Whether that means skilled nursing or rehab care after a knee replacement, or assisted living care as needs change, Life Care communities provide the assurance that care is included — and close by.
Lifespace resident Bob Bakke lives at Friendship Village in Bloomington, Minn. He discovered the importance of having a long-term care solution after caring for his mother-in-law. “I moved her from an apartment, to a large community, then to their [skilled nursing], then to their Alzheimer’s unit for five additional years,” Bakke said.
From that experience, Bob knew what he wanted for he and his wife from a retirement community and care perspective. When his wife began developing health issues, he knew what to do next. “I knew I needed to anticipate various outcomes and act,” he said. “Realizing I need a ‘life plan’ for all possible outcomes, my search led to Friendship Village.”
Like Bob, you may have previously cared for a loved one and know what you do or don’t want in a retirement community. But what you don’t know, is when you’ll need care.
Financially, there are a few things that make Life Care communities unique. As a new resident, you’ll pay an entrance fee into the community. This fee means you won’t see a dramatic increase in your monthly fees — even if you need to use the care center. By paying one, fixed fee upfront, you’ll have peace of mind that care will be available in a comfortable setting and at a predictable cost.
A Healthy Future
In addition to the financial component of Life Care, there’s also a health qualification to becoming an residential living resident at a community like Lifespace.
At Lifespace, we believe the greatest impact for our residents comes when they’re able to move into their homes healthy, and able to take advantage of our array of activities, services and amenities. Our hope is that residents will see the benefits of our Life Care communities, and move in before a health setback occurs. Waiting until a significant health event happens, could make your options more limited — both with a Life Care community, and potentially with other independent retirement communities
For Ed Putnam, a resident at Beacon Hill in Lombard, Ill., the desire to move in before he or his wife had a critical illness proved key in planning for the unexpected, as his wife was diagnosed with Parkinson’s shortly after their move to the community.
“Living in a community that offered Life Care was critical,” Putnam said. “We needed a place that could provide the necessary care and it was the best financial plan for us.”
Learn More Today
At Lifespace, our goal is to help you understand your options, so you can make the best decision for your future and your family’s future. Visit www.OwnTheFuture.com to find out if Life Care is right for you.
For more information about Lifespace communities, or to find the location nearest you, visit our website at www.LifespaceCommunities.com.
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