The Advantages of a Life Plan Community
When it comes to retirement, the future doesn’t look the same for everyone – nor should it have to. Whether you’re an active senior excited to take on new adventures or someone who wants to settle down, our Life Plan Community at Laurel Circle has just what you’re looking for.
We’ll share everything there is to know about Life Plan Communities below – especially their advantages – so you can feel confident and prepared when making decisions about your future.
What is a Life Plan Community?
A “Life Plan Community,” also known as a Continuing Care Retirement Community (CCRC), is a type of senior living community that provides a combination of lifestyle options and care levels all in one place to ensure residents have access to everything they need.
This senior living option typically includes independent living and a continuum of care in assisted living, memory care, skilled nursing, and rehabilitation, met with a wide array of services and amenities for older adults.
How does it work? Residents pay a one-time entry fee to move into independent living and an ongoing monthly fee to ensure priority access to higher levels of care without having to relocate to a different community or medical facility. The monthly fee also covers residence expenses, including meals, home maintenance services, amenities, and community activities.
At Laurel Circle, entrance and monthly fees cost the same for traditional and refundable plans. Paying an upfront, one-time entrance fee provides a lifetime residence at Laurel Circle and access to higher levels of care and all community services and amenities. If you choose a refundable residency agreement, up to 90% of your entrance fee will be refundable to your estate.
Enjoying an enriched retirement at Laurel Circle is now more accessible than ever because we offer different residency agreements to match your financial goals, budgets, and long-term plans. Laurel Circle is a Type C (Fee-for-Service) Life Plan Community that offers two residency agreements:
- Traditional Entrance Fee Plans offer lower entrance and monthly service fees for those who want financial flexibility and asset preservation.
- Refundable Entrance Fee Plans provide up to 90% of your Entrance Fee to be refunded to you or your heirs, providing estate preservation, regardless of how long you’re a resident of the community.
Both plans include a fee-for-service option to give you more choice and financial control over your future.
Life Plan Community Pros and Cons
Life Plan Communities help seniors remain active and engaged during their retirement years while feeling comfort and security in the promise of on-site healthcare services. Three major benefits of Life Plan Communities are:
1. An activity-rich, worry-free lifestyle
Community life at Laurel Circle is made better with these on-site amenities and services you wouldn’t normally have access to while living at home:
- A variety of flexible dining options
- Wellness programs
- Weekly housekeeping
- Indoor and outdoor home maintenance
- A state-of-the-art fitness center with certified instructors
- Social, cultural, and educational events and activities
- Full-service salon/spa and barbershop
- Movie screening room
- Resident gardens and walking paths
- A dedicated clubhouse with activity spaces in our villa neighborhood
2. Predictable costs
Many Life Plan Communities have a fee structure that includes a one-time entrance fee and ongoing monthly fees. This structure helps residents plan for future healthcare needs and provides a degree of financial predictability.
3. On-site healthcare services
With assisted living, memory care, skilled nursing, and rehabilitation services all in one community, residents at Laurel Circle have convenient access with zero worry of having to relocate to another community to find care.
While there are certainly more advantages to Life Plan Communities versus disadvantages, it’s important to also keep in mind that entrance fees are often significant and that there might be health qualifications before being accepted into the community.
Is a Life Plan Community right for me?
If you like to plan to ease as many worries as possible in the future, a Life Plan Community is the right choice for you. You’ll be able to retire the way you’ve always wanted, leave behind the responsibilities of being a homeowner, and give yourself and your loved ones peace of mind.
Discover a worry-free retirement at Laurel Circle.
There are many reasons why seniors choose to move to a Life Plan Community for their retirement. At Laurel Circle, you’ll always be surrounded by great friends, engaging activities, and the security of knowing you’ll always be cared for while you enjoy a maintenance-free lifestyle. Come visit us to see for yourself!