As you look for a high-end senior living community for your retirement, you will likely encounter phrases like “Life Plan Community” and “continuing care retirement community.” Even though there are two separate terms for this type of luxury senior living community, they are synonymous – continuing care retirement community is an “older” name, while Life Plan Community is the “newer” and more accurate term. These are popular communities for older adults because they offer peace of mind and a long-term plan for the future.
If you’re wondering what a life plan community is, what it includes, and how it differs from a continuing care retirement community, we’ve got you covered.
After all, The Winsberg at Green Cay will be the newest example of an exceptional Life Plan Community in South Palm Beach.
What Is the Definition of a Life Plan Community?
A Life Plan Community is a type of luxury senior living community that offers a continuum of care. Residents can access different care levels should their healthcare needs change. Those living in these communities usually begin their senior living journey as independent residents.
Levels of Care in a Life Plan Community
A Life Plan Community offers several living options with different levels of care, typically including:
- Independent Living – For independent living residents, the community takes care of home maintenance, dining options and provides services and amenities for them to enjoy.
- Assisted Living – Residents in assisted living receive support with activities of daily living (ADLs), like getting dressed, bathing, receiving meals, transportation, and medication management.
- Memory Care – This specialized care is for those with dementia and other forms of memory loss. Residents are in a safe and secure environment where staff can support them.
- Skilled Nursing – Residents have access to 24/7 care from licensed nurses and have around-the-clock supervision. Some residents may be in skilled nursing for long-term care, while others may require it for short-term recovery.
What Are the Costs of a Life Plan Community?
When looking at a Life Plan Community, you’re likely wondering about the costs. Moving to a Life Plan Community will include an entrance fee and monthly fee.
- Entrance fee – This one-time fee provides access to additional services, with some contracts refunding up to 95% of the cost to an estate or if a resident moves out of a community.
- Monthly fees – The cost of residence, services, and amenities will be included in your monthly fee.
Life Plan Contracts
It’s important to look at the types of Life Plan contracts the community provides and what that means for cost.
- Type A – With a higher entrance fee and higher monthly fees, the Type A contract covers the costs of your future care should you need it. Your monthly expenses will not likely have a significant increase. However, you may be paying for care that you will never need.
- Type B – This modified contract will likely have lower monthly fees than Type A. You will have access to additional care at a discounted rate, which allows you to receive services below market rate without paying for services you may never need.
- Type C – Also known as fee-for-service, Type C has a lower entrance fee and monthly fees than Types A and B. However, should you need assisted living or further healthcare services, you pay the market rate, which will have significant increases in monthly fees that would be paid in independent living.
When you have a Life Plan contract in a high end senior living community, you can feel secure about your future because you know there’s a plan to take care of your needs. With this comfort in mind, you can spend your retirement doing what makes you happy.
Enjoy Life at The Winsberg
The Winsberg at Green Cay is a Type B Life Plan Community in Palm Beach County. Significant savings are offered prior to the community opening in 2027. You can also follow us on Facebook to stay apprised of all developments as we gear up for our groundbreaking.
Call us at 561-658-1237 to learn more about limited-time savings available before the community opens and what makes The Winsberg the best luxury senior living option in the Boynton Beach area.