If you’re looking at senior living options for yourself or perhaps a parent, it’s helpful to understand the basic terms used to describe different types of communities and the various levels of care they may provide.
One of the most common terms you’ll see is Life Plan Community. It’s a newer way of referring to a continuing care retirement community, or CCRC. The senior living industry made the decision several years ago to adopt the term Life Plan Community because it more accurately describes these communities, as you’ll read below. For now, it’s useful to know that a Life Plan Community and a CCRC are the same.
What is a CCRC, or a Life Plan Community? In a nutshell, it’s a community that offers independent living and higher levels of care such as assisted living, memory support and skilled nursing, all within the same campus or building.
The Hallmark is a Life Plan Community. In fact, it’s the oldest senior living community in Houston that offers a full continuum of care, and the only such community in the heart of the coveted Galleria/Tanglewood area.
What’s a Continuum of Care?
The phrase continuum of care typically includes, at a minimum, assisted living (which is a level of care that provides help with everyday activities like bathing and getting dressed) and skilled nursing care (which includes both short-term care, such as after a hospital stay, and long-term care).
It may also include memory care, rehabilitation therapy, in-home assistance and hospice.
How Do Life Plan Communities Work?
Before moving into a Life Plan Community, new residents pay an entrance fee to secure their chosen home. The entrance fee will vary according to the size and location of the home, and part of it may be refundable, depending on the type of agreement(s) the community offers. At The Hallmark, up to 90% of the entrance fee is refundable.
Residents in Life Plan Communities also pay a monthly fee, which may cover the cost of utilities, dining services, amenities, activities and entertainment, interior and exterior maintenance, housekeeping, transportation services and more. A portion of the fee also goes toward the various levels of care the community has available.
You may be wondering, “Are CCRCs worth it?” For many older adults, the answer is a resounding “Yes!”
While each of us will have our own unique set of circumstances that will determine the best choice of living arrangement in our retirement years, what follows are several reasons for choosing to live in a Life Plan Community such as The Hallmark.
Life Plan Communities Provide Peace of Mind
Moving to a Life Plan Community eliminates the responsibility of maintaining a home that may be too large or require too much upkeep. You don’t have to worry about repairs or keeping up the yard. The community’s staff handles all of that, giving you extra time to devote to what you enjoy doing.
Nor will you (or your family) have to worry about what will happen if you need a higher level of care in the future, because you’ll have priority access to that care right there in the community. This can be especially comforting for couples, since they can stay together even if they require different levels of care in the years ahead.
Here’s another benefit of living at The Hallmark: Residents receive up to 30 complimentary days each year in our Health Care Center if they need assistance with routine tasks such as personal grooming, rehabilitation therapy or skilled nursing care following an injury, illness or hospital stay. Residents also receive a discount on the going rate for services provided at the center.
Life Plan Communities Enhance Quality of Life
As a resident of a Life Plan Community, you’ll have an abundance of opportunities to meet people and make new friends; discover new interests, skills and talents, and possibly even a new sense of purpose; engage in a broad range of social activities; and focus on all aspects of your health and well-being (including your intellectual, emotional, spiritual and physical wellness).
You’ll have an entire community, in the truest sense of the word, right outside your door. In a close-knit community like The Hallmark, you’ll find it’s easy to connect with those around you, giving you the freedom to socialize or enjoy as much time to yourself as you wish.
Life Plan Communities Offer Choices in Dining
Independent living residences typically have fully equipped kitchens, so if you like to cook, you always have that option. But you can also extend an impromptu invitation to meet friends for a meal in the community’s dining room when the mood strikes. Some communities, including The Hallmark, also have a dietitian or nutritionist on staff to ensure menu selections meet the special dietary needs of older adults.
Seniors who’ve grown tired of shopping for and preparing their own meals often find after moving to a senior living community that having dinner with friends becomes a highlight of their day.
Life Plan Communities Have Built-In Safety and Security
Older adults who live alone may feel vulnerable and worry about their safety and well-being for a variety of reasons. Life Plan Communities provide a secure environment, day and night, and most furnish their residences with safety features such as personal alert systems.
Senior living communities are also designed for easy navigation, both within the residences and in common areas, to reduce the risk of falls and other types of accidents.
Life Plan Communities May Offer Financial Advantages
A common question we hear from families who are researching senior living options is how much does a Life Plan Community cost? We’re always happy to hear this question because so often people assume they can’t afford to live in a community like The Hallmark.
Our advice to them, and to you, is to make a list of all expenses associated with owning your home, including mortgage payments if you still make them, repairs, replacement costs for appliances and other large-ticket items, property taxes, homeowner’s insurance, utilities and the cost of any services you pay for, such as landscaping.
Then, consider everything that’s included in the monthly fee at a Life Plan Community. When you compare the cost of staying in your home versus the cost of living in a community like ours, you may be pleasantly surprised at how affordable a Life Plan Community can be.
We also recommend consulting with a financial adviser, estate planner or other qualified professional before signing any type of agreement with a senior living community. You may also want to look into the potential tax consequences (and benefits) of selling your home and moving to a Life Plan Community.
You can try our MoneyGauge calculator to get a preliminary idea of whether such a move fits within your budget.
Come See a Life Plan Community in Action
Now that we’ve given you several reasons to consider moving to a Life Plan Community, we hope you’ll come take a closer look at The Hallmark. Come meet the staff, chat with some residents and maybe even join us for a meal.
Contact us to schedule a tour today, or give us a call at 346-223-9741 to learn more.
