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LIFE PLAN COMMUNITIES ARE THE NEW CCRC: SO WHAT DOES THAT MEAN?

Seniors today are looking for retirement options that allow them to continue to live their current lifestyle while knowing they have also planned for continuing care should they need it. Continuing Care Retirement Communities, or CCRCs, were established in the 1980s to meet this need, offering a continuum of care from independent living to assisted living, with some also offering skilled nursing and memory care options.

Recently Vi, like many CCRCs, adopted a new name: “Life Plan Communities.” This name better conveys how by choosing a Life Plan Community, residents have planned for care options should their needs change. That said, it’s important to know that different types of Life Plan Communities are still available in the marketplace. Some offer multiple levels of care, while others provide specific services for residents.

Life Plan Communities offer amenity-filled Independent Living options for seniors, with three basic arrangements for care services:

  • Extensive, sometimes referred to as Type A, is the most comprehensive plan for care, and typically includes unlimited access to available care services with little or no increase in a resident’s fees. Extensive care communities aren’t widely available within the senior living landscape.
  • Fee-For-Service, or Type C, does not factor care services into resident fees. If a resident needs care, they will be billed separately for all services at the market rate. This model is commonly available in most areas.
  • Modified, also known as Type B, is the least common type of senior living community, and is a hybrid of Extensive and Fee-For-Service offerings. While it can vary by community, typically a Modified contract includes a specific number of days in the community’s care venue billed at the monthly fee rate. Once those days are exhausted, care is then billed at market rates.

Overall, Life Plan Communities provide living and planning options that aim to put prospective residents’ lifestyle needs and goals at the forefront. Vi will continue its history of offering Extensive/Type A arrangements, providing compassionate care at a cost more predictable than changing market rates. With high-end amenities, engaging environments and extensive health care services, Vi offers the opportunity to live for today while planning for tomorrow.

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