Deciding if a senior living community is right for you is a highly personal choice. With so much that goes into making a decision, the more informed you are, the better chance you have of finding the right fit. At The Marshes of Skidaway Island, we’ve been serving the Savannah area since 2004. In this article, we answer some of the most common questions seniors and their families ask us when they’re evaluating a Life Plan Community like ours.
What’s a Life Plan Community?
Life Plan Community and CCRC (continuing care retirement community) are different terms for the same thing — a community that offers an independent lifestyle with a comprehensive array of services, amenities and activities, plus access to higher levels of care at predictable rates.
How do Life Plan Communities Work?
A Life Plan Community like The Marshes of Skidaway Island requires a one-time payment called an entrance fee. The entrance fee is based on the size of your residence and the number of occupants. It’s how we keep your monthly service fee low and give you priority access to higher levels of care. The monthly service fee covers all the costs of living you’d normally have in a house, such as maintenance, utilities, housekeeping, laundry and so forth. It’s a remarkable value when you compare it to the cost of homeownership, and even more once you add up all the other services and amenities that are included: dining at community restaurants, gym membership, fitness and wellness programs, entertainment, local transportation, and more. All these will cost you extra at a rental community.
What Kinds of Health Care Services are Offered?
Life Plan Communities offer quality senior care on campus, including assisted living, memory care support services, skilled nursing., respite care, and short- and/or long-term rehabilitation. Some Life Plan Communities such as The Marshes of Skidaway Island also offer home care. Rental communities typically don’t provide a full continuum of care. If they don’t offer the health services you need, or a room is not available when you need it, you’ll have to move elsewhere at the worst possible time.
What’s the Difference in Health Costs?
You’ll pay more for health services in a rental community — much more. A recent study found that the high cost of health care forced seniors to borrow money, skip treatments or cut back on household expenses, and a large percentage feared that a major health event could bankrupt them. Rental communities charge for health services at market rates, which can be financially devastating. In contrast, a Life Plan Community guarantees access to high-quality care at a predetermined, highly reduced rate. Depending on the contract, a certain number of hospitalization days are free. You’ll know exactly how much you’ll pay for care and who will provide it.
What Does it Mean That a Life Plan Community Provides Lasting Peace of Mind?
The reason so many seniors trust Life Plan Communities is in the name. It provides a plan for life. You’ll secure lifetime use of your residence and lifetime access to high-quality care. You’re guaranteed a place to live even if you run out of resources through no fault of your own. If you are unable to pay your rent in a rental community, you’ll have to leave.
What happens if my Spouse Needs Care but I’m Still Healthy?
We all know how stressful and time-consuming it can be to move from one residence into another. Imagine making that move while coping with the additional stress of a health emergency of some kind. Most rental communities do not offer a full range of on-site health services, so if you or your spouse needs specialized care, you’ll have to transfer to a nearby partner facility. In a Life Plan Community like ours, you won’t have to move again should you or your spouse have a change in health. A full continuum of care is right here on campus. If you or your spouse ever needs care, you’ll never be far apart.
How Does a Life Plan Community Protect my Assets?
When you spend a lifetime building a nest egg, you want to be sure it lasts as long as possible. In a Life Plan Community, your estate will not be depleted by the rising cost of long-term care because care is prearranged at predictable rates. A portion of the entrance fee is also refundable to you or your estate — a smart way to preserve your assets and leave a legacy for your children. It’s also possible to save on your taxes. At The Marshes of Skidaway Island, a portion of your entrance fee is tax-deductible as a future health care cost in the year you pay it. Care provided can be deductible as well. Individual situations vary, so we recommend you discuss your eligibility with a tax adviser.
Discover the advantages you’ll find at The Marshes of Skidaway Island. We’re among the best Life Plan Communities in the area, not just for our vibrant independent lifestyle, but also for the stability and leadership of Life Care Services®, our respected senior living management partner. Here, you’ll live life on your own terms doing the things that bring you joy and fulfilment. And you’ll have the security of a smart plan for future health care. Reach out to us to learn more.