Choosing an All-Inclusive Senior Living CommunityJanuary 14, 2022
“We wanted to trade uncertainty for certainty.”
– Jack & Peggy, Park Place of Elmhurst Residents
Almost half of seniors feel they’re too young to move, according to data from myLifeSite.
The truth is, however, that someone turning “65 has a 70% chance of needing advanced health care services for an average of at least two years,” says the Administration for Community Living. Because many seniors associate a move into a senior living community with a decline in health, they might wait until a comfortable transition is no longer possible.
They’re often unaware of the many services and amenities offered by Life Plan Communities, also called Continuing Care Retirement Communities.
Finding a community while you’re younger means you can take full advantage of the lifestyle and amenities offered. And if you need, you’ll be able to age in place in your new home. It’s important to choose a community that has what you need now and what you might need in the future.
At a Life Plan Community like Park Place of Elmhurst, we offer a full continuum of care and a lifestyle unlike any you’ve experienced before. Keep reading to learn about the benefits of choosing an all-inclusive senior living community.
The Life Care Contract
At Park Place, our community offering is what’s called a Life Care plan. Provided for under a Life Care contract, it’s a living option that includes both an entrance fee and a monthly fee. This option is for the independent senior who wants a plan for the future that covers their health care, housing, and anything else they might need.
“I find great value in Life Care and the fact that Park Place is sponsored by a nonprofit,” says Sunny, a resident at Park Place of Elmhurst. He says that it was important for him to make the move to a Life Plan Community while the decision was still his.
“You have to move while you’re healthy enough to enjoy it.”
The Life Care contract offers numerous benefits, including lifestyle perks for seniors like Sunny, and involves a monthly fee that remains relatively stable. The entrance fee pays residents’ utilities, services and amenities. The monthly fee is all-inclusive in that it covers their maintenance, dining, activities and scheduled transportation … and the entrance fee secures their new home for life!
Life Care contracts require an entrance fee that may be tax-deductible.
Types of care include Assisted Living, Memory Support, Skilled Nursing or Rehabilitation for the life of our residents. These are covered by the entrance fee for a Life Plan Community like Park Place of Elmhurst, which may be deductible as a prepaid medical expense the first year a resident moves in. If our residents’ Independent Living needs ever change, they needn’t leave the community for higher levels of care.
Life Care contracts give families and residents financial security. Residents may be granted access to the type of care they need if it’s included in the resident agreement. Beyond an Independent Living setting, residents pay an equalized rate depending on levels of care that may vary from what was paid in while living independently.
Older adults often choose to move to a place where they can be certain both they and their finances are secure. In addition to health care, it’s important that a community has the social activities, amenities, lifestyle options and location that you need.
Gail, also of Park Place, wants to emphasize one thing: you’ll love it here.
“I have been here for four years and I could never have imagined it would be so wonderful,” she says. “From the maintenance to the administration and everything in between, there is nothing bad I could find to say.”
In the search for a Life Plan Community, be sure to tour a variety of Life Plan Communities with family members or close friends. Get their feedback and choose the community that best meets your needs.
Live Every Day Your Way at Park Place of Elmhurst
Park Place of Elmhurst is ready to offer a full continuum of health care services and amenities. Our community’s located in a beautiful environment with Elmhurst’s rich cultural center just a short distance away. Visit us at Park Place and see how you can live every day your way.