FAQs
Here are some of the questions frequently asked by those interested in Life Care and Lifespace Communities. If you don’t see your question here, please feel free to contact us, and we’ll get you an answer quickly.
Q. What is a Continuing Care Retirement Community?
A. Continuing Care Retirement Communities (CCRC) usually combine all three levels of care: independent, assisted and nursing home care in a single setting. Traditionally, CCRC’s require an entry fee plus monthly maintenance fees in exchange for an apartment, meals and various other services up to but not including health care at the skilled levels.
Q. What is a Life Care Community? How is it different than a CCRC?
A. Today there are many “continuing care” communities, but few are actual Life Care communities. In order to advertise as having Life Care, a community must provide:
- Health care coverage for life in a skilled nursing center at little to no increase in the apartment monthly service fee.
- A guarantee that if the resident’s resources are exhausted they do not lose their residence or their benefits.
- The retirement community has to have a skilled nursing facility within the community itself.
LifeCare senior living combines an independent lifestyle in a spacious apartment or home with a wide range of services and amenities that eliminate home maintenance and yard work while also providing the peace of mind that comes with the availability of onsite health care.
Q. What are the 4 basic types of retirement communities?
A. They are: Full Life Care, Modified Life Care, Continuing Care or Rental.
Q. Can you tell me about the healthcare options at your community?
A. Nearly all Lifespace Communities offer skilled nursing services onsite. Many are connected directly to the apartment building. A typical life care contract will include unlimited services in the health center if the need arises. Many communities also offer assisted living as part of the contract. If your health care needs include assisted living or skilled care, you are able to transition from independent living to health care easily with the assistance of the community staff.
Q. Do I own my apartment or town home?
A. You do not take title to the apartment that you occupy but enter into a contract which provides for your occupancy of an apartment as long as you are capable to live independently. You also have access to all community amenities and unlimited health care services in the onsite health care facilities.
Q. What will I pay to enter a community?
A. All communities charge an entrance fee and have a monthly service fee. The monthly fees cover the services and amenities provided at the community while you are in residence. The entrance fee may have refundable portion at the time you leave the community. A portion of your fees may be tax deductible.
Q. What kind of contract would I sign to enter a community?
A. Lifespace Communities offers a variety of contracts. Many provide a return of capital contract which protects your net worth and provides a refund when you leave the community. Others offer a contract that has a lower entrance fee but provides for no refund.
