So you’re researching senior living communities and have come across a lot of different terminology.
The most common terms and acronyms you’ll encounter when researching senior living and retirement communities are “Continuing Care Retirement Community,” “CCRC,” “Life Plan,” and “Lifecare.”
In short: Continuing Care Retirement Communities (CCRCs)/Life Plan Communities are synonymous, describing a senior living option that includes independent living and access to a full continuum of care. Lifecare is a unique contract option that secures predictable rates, financial protection and long-term value.
Read on to learn all about CCRCs/Life Plan Communities and a Lifecare contract.
The terms Life Plan Community and CCRC are synonymous.
As a special type of retirement community, Continuing Care Retirement Communities (CCRCs), also known as Life Plan Communities, provide a continuum of care for individuals throughout their lifetime, from maintenance-free independent living to on-site assisted living and skilled nursing if ever needed.
Independent living amenities and residences are only a short walk from assisted living, skilled nursing and rehabilitation services in a CCRC. CCRCs generally provide a full range of continuing care services (hence the name), among other requirements around services, amenities and staffing.
A Life Plan Community is simply another name for CCRC. Professionals in the industry are moving toward using the term “Life Plan Community” because it describes the services and care a community provides more accurately: a life plan! There are no differences between CCRCs and Life Plan Communities. Different names, same type of community.
The Lifecare Contract
A Lifecare contract includes a one-time entrance fee and monthly service fees. In exchange, you’re guaranteed care for life at a predictable cost and the piece of mind knowing that you get it all at a community like The Estates at Carpenters.
In addition to predictable care costs, if you move out of the community, you may receive a partial entrance fee refund. Take confidence knowing you’ll have a place to live for the rest of your life where you’ll receive care if you need it, how much it will cost, and that your legacy is safe.
If this sounds interesting to you, check out more about Lifecare in Lakeland, FL.
Contact The Estates at Carpenters today to schedule an appointment.