The challenge in planning for future care needs is that you can’t be certain of precisely what you’re planning for. How can you maintain your independent lifestyle without worrying about life’s what-ifs? Anyone’s health may change at some point, but what can you do about it now? Quite a bit, as it turns out.
Westminster-Canterbury of the Blue Ridge is the only community in Central Virginia to offer the Lifecare option. What is Lifecare? It’s the security of knowing that as you age in our community, a full continuum of care is here for you right where you live — assisted living, memory care, long-term skilled nursing care and rehabilitation therapies. You’ll also know that your monthly expenses will not increase significantly from independent living through the various levels of care.
The Advantages of Lifecare
The thing to remember is that without the Lifecare agreement your out-of-pocket costs for any level of care will most certainly be higher than they would be with Lifecare. That’s because you’ll be paying market rates for those services, which are constantly rising. Lifecare provides long- and short-term care at a discount from what you pay in the open market.
At Westminster-Canterbury of the Blue Ridge, the Lifecare agreement ensures you’ll receive any level of care you need, for as long as you need it, for essentially what you’re paying for your residence in independent living. Your expenses will be more predictable. Planning will be simpler and more precise. You won’t need to leave home to find the care you need. And you may well find yourself in a more favorable tax position.
What’s more, your grown children will be free from having to make decisions on your behalf.
If you ever do need care, they’ll know you’re receiving the very best. You do have to qualify for Lifecare, so we recommend moving to Westminster-Canterbury of the Blue Ridge while you’re healthy and independent.
Lifecare Contracts at Westminster-Canterbury of the Blue Ridge
Standard Financial Plan
The entrance fee will be partially refundable during the first 50 months after the contract date. For each month (or partial month) after the contract date, the refundable amount will be reduced by 2 percent until 50 months have passed. Thereafter, there won’t be a refund.
Refundable Financial Plan
At least 50 percent of the entrance fee will always be refundable. The refundable amount will be reduced by 2 percent per month for the first 25 months after the contract date. Thereafter, there will be a refund of 50 percent of the entrance fee on termination or death, once the residence is reoccupied.
Modified Financial Plan
The entrance fee for the modified plan is $36,400 less per person than under the standard plan. The first 365 cumulative days of care – at any level – are charged at the applicable per diem rate in addition to the monthly fee of the independent living residence occupied at the time of transfer. Starting with the 366th cumulative day of care, the per diem charges cease and all subsequent days of care – at any level – are covered by the monthly fee applicable to the independent living residence last occupied.
You’ll want to see this.
Residents share their views on Lifecare.
The advantages of Lifecare far exceed what can be explained here. We suggest you call us to schedule a visit, and we’ll clarify in detail why Lifecare from Westminster-Canterbury of the Blue Ridge may be among the smartest decisions you’ve ever made.
No. Although Continuing Care Retirement Communities do offer care services, not all of them offer the Lifecare agreement to pay for them. Lifecare makes your monthly fee more predictable if you should need to move through the levels of care. Lifecare at Westminster-Canterbury of the Blue Ridge provides short- or long-term care in a private room for about the same monthly fee you pay in independent living. What’s more, this fee is typically less than market rates for comparable care.
If you have a long-term care insurance policy, you may be eligible to receive benefits from that policy paid directly to you if you ever need assisted living, memory care or skilled nursing. Consult with your insurance carrier or agent for specific answers regarding your individual policy.