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Independent Living, Life Care

Questions to Ask About Life Care Contracts

When researching continuing care retirement communities (CCRCs), it’s likely you’ve seen Life Care contracts mentioned. These unique contracts are an excellent way for seniors to gain the comfort and security of knowing that their future care needs have been planned and accounted for today.  

What is a Life Care Contract?

The Stayton is a Life Care community in Fort Worth, Texas, which gives residents the security of knowing that should their care needs ever change, they are guaranteed access to services here. A Life Care contract ensures you or your loved one’s needs are met and care is accessible, even if your situation changes as time goes on. 

While the Type A Life Care contract type is all-inclusive of on-site healthcare services and amenities, this is not always the case, and you may be given a few options. This includes the Type B contract, where your fee will increase if you need additional care, but you’ll pay a predetermined discount on the market rate. In a Type C contract you will pay market rate for the care services you require. Always ask about what your contract type covers. 

Questions to Ask About Your Life Care Contract   

Not every Life Care contract is the same. Be sure that you ask questions and understand the terms of the agreement. 

How Much Are the Monthly Fees and What Do They Cover? 

The monthly fee will vary depending on the community and the type of contract you choose. It’s important to understand what services and amenities are included in the monthly fee and which ones may incur additional costs. Some common expenses covered by the monthly fee include rent, utilities, maintenance, and access to community activities and amenities.

Are There Any Exclusions or Limitations on the Services Provided?

Be sure you understand what services are not included in the monthly fee or which have limitations. For example, not all communities provide all levels of healthcare on-site. If that level is not provided on site, ask what your options are for getting the care you need. 

How Much is the Entrance Fee and is it Partially Refundable? 

The entrance fee is a one-time fee that is typically required to secure a place in a Life Care community. The amount of the entrance fee will vary, but according to AARP, the average entrance fee in 2022 was $402,000. Some life care communities offer a partially refundable entrance fee, which means you may receive a portion of the fee back if you move out of the community before a certain date. Check the terms of your contract. 

What Levels of Care are Provided? 

Life Care communities typically offer a range of care options, from independent living to assisted living and skilled nursing care. It’s important to understand what levels of care are provided and what services are included in each level of care.  

By asking these questions, you’ll have a better understanding of what services and costs are included and be able to make an informed decision about whether a life care community is the right choice for you.

Learn More About The Stayton at Museum Way

We understand that making a decision as important as moving to senior living can be complex. That’s why our team is here to help you. Contact us at any time for more information about Life Care plans. 

We also invite you to visit us in Fort Worth. With local theaters and museums just steps away, you’ll have plenty of other activities to take part in during your visit.  

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