Life Care is a contract that promises long-term care in our community at a fixed predictable cost regardless of changes in the level of care you need or increases in the cost of health care. Here at Glen Arden, there is a one-time entrance fee (up to 90% refundable) followed by a consistent predictable monthly fee. As the costs of long-term health care go up, your monthly fee remains the same whether you are in independent living or at a higher level of care.
Life Care provides you with asset protection and peace of mind that you will continue to receive the care you need in the same community where you are comfortable. It’s important to note that not every Continued Care Retirement Community is a life care community, but at Glen Arden, we are both.
Benefits of Life Care
Life Care allows you to prepare for needing long-term care in the future, while currently living without worry. Some of the most important benefits of Life Care include:
When you join a community that offers Life Care, you have the assurance that your assets and your income will be protected if you require long-term assisted living or skilled nursing care. As the costs of long-term health care increases, knowing that your assets are protected against these increasing costs is important.
As previously stated, the costs of long-term health care are increasing every year. With a Life Care contract, you know exactly what you will pay every month no matter what level of care you need.
The part of the fee that is expected to go towards health care costs is considered tax deductible according to the IRS. Prospects are advised to consult with a financial advisor to determine the best way to go about claiming a CCRC-related tax deduction.
Guaranteed Lifetime Residency
Life Care communities allow you to remain in your same community that you are comfortable in as your level of care changes. Whether you are in independent living, assisted living, or skilled nursing, you will be able to “age in place” and keep the same neighbors, people, and community that you have grown to know and love.
Peace of Mind
Most importantly, Life Care gives you peace of mind in knowing that you have unlimited, lifetime access to the care you need, at no additional cost, no matter what. This allows you to focus on living a carefree life in the present, knowing that your future is secure.
Interested in learning more? Give us a call at 845-360-1469 or click here to contact us.