December 1, 2020 —Few things in life come with a safety net, but Kendal at Lexington comes close with the Lifecare contract.
Lifecare is an ideal way to take control of your future both financially and physically especially if health care needs increase later in life.
It’s also a safety net for family members since a Lifecare contract lessens the need for children or people other than you to make emergency long term care decisions or worry about a financial crisis due to long-term care costs. Families will also appreciate knowing that you are living in an active community with social connections, wellness and fitness activities, maintenance-free living, and long-term care services all on one campus.
The Life Plan retirement community model is an attractive option for retirees who can live independently with the possibility of needing more skilled care in the future. Kendal at Lexington offers a Lifecare contract based on this model. Life Plan communities were formerly referred to as a Continuing Care Retirement Community or CCRC.
Entry Fee and Monthly Fees
Kendal’s Lifecare contract consists of an entry fee and subsequent monthly fees that prevents a spike in care expenses if the resident would need to move from independent living to assisted living or nursing care in the future.
According to the US Department of Health and Human Services, someone turning age 65 today has almost a 70% chance of needing some type of long-term care services and support in their remaining years.
Retirees find a Lifecare contract an attractive option to controlling what could be devastating care costs if they were to age in place and then need advanced care.
Timing is Everything
Even if moving to a Life Plan community isn’t in your immediate plans, it’s a good idea to start discussing the qualification process at Kendal at Lexington.
The application and assessment process includes questionnaires for financial and medical review, and an assessment on your expectations and concerns around moving to a new community.
In some cases, there may be a waiting list for a particular style of cottage or apartment, which is another reason to start the process sooner than later. Getting on the waiting list doesn’t not obligate you to take the first opening but does give you the option. It also gives you some flexibility while selling your current home or making other arrangements.
As a prospective resident, you’ll be able to start interacting with other residents (virtually at this time) so you’ll already know some of your potential neighbors by the time you move in.
Residents at Kendal report greater peace of mind when it comes to their living arrangements and possible health concerns in the future. Whether in a cottage or apartment, the social opportunities, (which even through COVID restrictions kept residents connected in smaller groups and virtually) and the access to wellness programs, a fitness center and pool, and quality dining are all part of what makes Kendal at Lexington an attractive living option.
Living in such a community has greater overall health benefits too. According to the US Department of Health and Human Services, seniors who life in Life Plan communities live five years longer, on average than those who choose to age at home.
Kendal at Lexington is a CARF-accredited, not-for-profit Life Plan retirement community that offers independent living, assisted living, skilled nursing, memory care and rehabilitation services. For more information about our programs or to begin your application process, contact us at (540) 463-1910.