With so many different options available, finding a senior living community for yourself or a loved one can be challenging. You want to choose one that allows you to enjoy your retirement years and get the care you need – without compromising on quality. There is no shortage of senior living options today, but during your search you may have noticed that there are several types of senior housing choices – including rental senior living communities and Life Care communities – that offer very different financial terms and benefits.
If you’re weighing the differences between a rental retirement community and a Life Care community, this article can help you find the right fit for your situation.
What Is a Rental Senior Living Community?
A rental senior living community is for seniors looking for a cost-conscious, flexible living option. Since these communities follow a rental model, they don’t typically require a long-term commitment, so you may be able to move in without paying an entrance fee on top of your monthly fee.
These communities may have higher levels of care on-site such as assisted living, skilled nursing or rehabilitation. However, accessing these levels of care will require that you pay market rates for them, which are unpredictable. While these can be good options for those who require flexible living arrangements, they do not offer long-term, predictable costs if your healthcare needs change. Many seniors find that choosing this option means sacrificing the ability to choose when and how their care needs are met in the future.
What Is a Life Care Community?
Life Care communities like Beacon Hill provide different levels of care that enable residents to stay in the comfort of their own community, for life. This means that if you reside in a Life Care community and you need a higher level of care, you’re able to seamlessly access personalized, on-site health services without changing the base monthly fee you pay.
To account for this, Life Care communities require an upfront entrance fee along with monthly fees. This option is good for those who are thinking long-term. Having predictable monthly costs as your care needs evolve can help you rest assured that you or your loved one will be taken care of without having to worry about the rising cost of healthcare services. Always be sure to carefully consider the Life Care contract you are offered to make sure it fits your needs.
Explore Life Care Options at Beacon Hill
The Life Care community where you’re going to spend your retirement should be a place where you can truly enjoy it. Beacon Hill is proud to provide exceptional amenities and services to our residents in a vibrant, upscale living community unlike any other. Enjoy a wealth of events and activities, fine dining, an indoor pool, salon, putting green and much more. Ready to see what adventure awaits you at Beacon Hill?
Contact us today.