Indoor saltwater pools, hydro-massage rooms, Napa Valley’s finest wines, sushi chefs….all the characteristics of a five-star hotel, right? Actually, these are the types of amenities you will now find at a growing number of retirement communities across the country.
Indoor saltwater pools, hydro-massage rooms, Napa Valley’s finest wines, sushi chefs….all the characteristics of a five-star hotel, right? Actually, according to any Senior Living Guide these are the types of amenities you will now find at a growing number of retirement communities across the country.
Today I will focus on exploring how long-term care insurance could have an impact on residents of CCRCs offering a contract other than a Type A contract. Generally speaking any other type of contract offered by a CCRC will involve some level of increase in the resident’s monthly fee when care is received.
As I talk with families and financial advisors about continuing care retirement communities, or CCRCs, we often get asked about how long-term care insurance fits into the picture and whether such coverage is needed by those who move into a CCRC.
At LifeSite Logics we are passionate about seeing families, and their valued advisors, plan proactively for healthcare and long-term care expenses they may encounter over the course of their retirement years- particularly in the later phases of retirement. A recent study points to at least one key reason why more people don’t take a proactive approach to planning for such expenses.
A source of confusion for seniors or families researching a senior care center is understanding the difference between a “Medicare-certified” facility and a “private-pay” facility.
To better understand the true financial impact of receiving care in a private-pay health care facility versus a Medicare-certified facility it is important to first understand what a Medicare actually covers.
www.lifesitelogics.com
info@lifesitelogics.com
877-699-2272
Prospective residents of a continuing care retirement community(CCRC) are sometimes scared away when they learn that the facility is not Medicare-certified but the financial impact may be less than initially feared.
www.lifesitelogics.com
info@lifesitelogics.com
877-699-2272
Ideally, moving to a CCRC should be the last residency decision you ever make. Therefore, it is important to make sure that you understand the contract details and the financial implications of the decision.
www.lifesitelogics.com
info@lifesitelogics.com
877-699-2272
If you are considering a CCRC be sure to visit the LifeSite Logics website for more valuable information.
www.lifesitelogics.com
info@lifesitelogics.com
919-848-6766
