A common misconception is that Life Plan Communities offer all levels of living and care. As you research your retirement living options, it’s important to look for a community that fosters a vibrant lifestyle and offers peace of mind with a plan for future care. In this blog, we’ll define what a Life Plan Community is, briefly cover the types of contracts available at these communities and highlight how a Type A Life Care Community like Wisteria at Warner Center will offer everything from residential living to assisted living, skilled nursing and memory care, if ever needed.
What is a Life Plan Community?
A Life Plan Community is a retirement community that offers residential living, as well as one or more levels of additional care. Residents pay a highly repayable entrance fee and monthly fees that remain relatively stable over time. If care is ever needed, residents have access to it at a predictable financial value, which varies by contract and community, potentially preventing financial strain by avoiding the full, ever-rising costs of care. While Life Plan Communities provide access to short- and long-term care, it’s important to note that a resident must move to a Life Plan Community while still able to live independently. These communities are also only required to offer residential living plus one level of care, such as assisted living.
Types of Contracts at Life Plan Communities
Life Plan Communities offer different types of contracts that define the levels of care included and financial arrangements:
Type A Contract: This is the most comprehensive contract, offering priority access to health care services with little to no increase in monthly fees, regardless of the level or duration of care needed. This ensures that residents can receive the care they need, for as long as needed, without worrying about escalating expenses.
Type B Contract: This contract provides a specified amount of health care services, with additional care available at a discounted rate. While it offers some predictability and cost savings compared to a fee-for-service model, it may not cover all future care needs, potentially leading to higher out-of-pocket expenses for extensive care.
Type C Contract: Residents pay market rates for health care services as needed, with no upfront prepayment for future care. This contract typically has a lower entrance fee; however, the benefit is limited to the residents’ priority access to on-site care, rather than a financial discount for care.
These contracts vary in terms of the initial entry fee and monthly service fees, giving seniors and their families the flexibility to choose the option that best suits their needs and financial situation.
Not All Life Plan Communities Offer a Comprehensive Plan for Care
Not all Life Plan Communities offer post-hospital rehabilitation, skilled nursing or memory care. For instance, some communities might close their skilled nursing facilities (SNF) or may not offer skilled care at all, particularly in certain markets like California. This can be a significant drawback for residents who might need comprehensive care after hospitalization or as their health needs evolve. Without skilled nursing care included in their contract, residents may have to move to another facility to receive the necessary care, which can be stressful and disruptive.
Wisteria at Warner Center: Care for All Needs
At Wisteria at Warner Center, residents will have priority access to the adjacent health center for assisted living, memory care and long-term care in a skilled nursing center, if ever needed, ensuring that residents never have to move again if their care needs increase. This provides peace of mind for both residents and their families, knowing that comprehensive care is always available.
To learn more about the levels of care that’ll be offered at Wisteria, visit our benefits page. If you have any questions about our upcoming Type A Life Plan Community, fill out our contact form and we’ll be in touch.
