If you’ve been researching senior living communities, you’ve probably discovered there are a lot of different terms and names like Life Plan Community, Continuing Care Retirement Community (CCRC) and Life Care. Of these three terms, Life Care may be the most unfamiliar. That’s because there are only two Life Care communities in St. Louis, MO: Friendship Village Sunset Hills and Friendship Village Chesterfield. This blog post will help define these terms, so you can make a more informed decision.
Retirement community terms.
The easiest to explain are Life Plan Community and Continuing Care Retirement Community, because they are two different names for the same type of lifestyle. They both offer a plan for life and/or a continuum of care starting with independent living — a maintenance-free lifestyle with services and amenities to give you the freedom to live life your way.
However, if your health needs ever change, Life Plan Communities also have assisted living facilities and skilled nursing, sometimes just right down the hall. This gives you, your spouse and your family the reassurance of knowing you have everything you need in one place. If you choose an option that’s not a Life Plan Community, and need a higher level of care, you may have to move when you least want to.
Why is Life Care important?
According to the U.S. Department of Health and Human Services, at least 70% of people older than 65 will require some long-term care services at some point in their lives for an average of three years. The current cost of assisted living care around St. Louis is $3,750/month or $45,000/year and a private skilled nursing room is $6,479/month or $80,988/year.
In its simplest terms, Life Care is a financial arrangement between you and a Life Plan Community that guarantees you access to care for life, should you ever need it. It can also be called a Type A contract. Currently, our Sunset Hills and Chesterfield locations are the only two communities offering Life Care in St. Louis, MO. The other Life Plan Communities mostly offer Type B and Type C contracts. Here’s an overview of the differences between each contract type:
- Life Care/Type A contract: In addition to care for life, you have the financial predictability of paying about the same monthly fee regardless of your level of living. Even if you both start out in independent living, and one of you later moves to assisted living, you’ll still pay only the one monthly fee you paid in independent living. Some Life Care communities do increase the fee to cover two extra meals per day and perhaps some ancillary costs for the person in assisted living, but that increase is usually minimal. Plus, part of your entrance fee and monthly service fee could be tax-deductible. To learn more, talk with your tax advisor.
- Type B contract: Health care is provided one of two ways: 1) a limited number of free days included as part of the entrance fee, with additional care billed at per diem market rates, or 2) an ongoing, minimally discounted rate. Health care services may be delivered on- or off-site, and two monthly fees may be incurred if couples require different levels of care.
- Type C contract: If a resident requires short-term care, that resident must continue paying the monthly fee on their independent living residence, plus the costs of housing and health care received in an assisted living, memory support or skilled nursing residence, which may or may not be on the same campus.
You can learn more about why you should consider Life Care here.
Make a plan for life.
If you’re looking for a Life Care community in St. Louis, MO, consider Friendship Village Chesterfield and Friendship Village Sunset Hills. As a faith-based, not-for-profit senior living community, we provide a safe, secure and engaging lifestyle focused on you. To learn more about our full continuum of on-site care — including assisted living, memory care, skilled nursing and rehabilitation — at a predictable monthly rate contact us using this form.