When it comes to where your parents live during their retirement years, there are many considerations to make. Does their current home offer the safety they need? Do they have a plan that suits their lifestyle and financial circumstances, should their health care needs change?
Although initially many people think that living in their long-term homes and “aging in place” makes the most financial sense, this isn’t always the case. The mortgage may be paid off, but it’s important to factor in home maintenance and the uncertainty of rising property taxes and utility costs. Plus, your parents may also need to make expensive modifications, like nonslip flooring and wider doorways, to ensure their safety.
That’s why Ventana by Buckner makes planning for the future easy. As a Life Care community, we offer peace of mind that your loved one’s needs will be taken care of now and in the future, and at a predictable cost.
What is a Life Care Community?
Before we discuss the financial aspect of moving into a Life Care community, it’s best to understand exactly what this means.
Life Care at Ventana means just what it says – care that lasts for a lifetime. Members have access to our full continuum of care, from Independent Living to Long-Term Care and everything in-between.
Choosing a Life Care community means they have the opportunity to enjoy an active, independent lifestyle now with peace of mind that any future care needs will be met in the place they call home.
With Life Care at Ventana, Members can enjoy their days knowing that all of the “what-ifs” of the future are covered. When treatment is needed, they know where they will receive it, who will provide it and what it will cost. Plus, if your parents outlive their resources for reasons beyond their control, they will have the assurance that they can continue to enjoy a lifetime of residency at Ventana according to the terms of the Residence and Service Agreement.
How to Help Your Parents Determine What They Can Afford
- Determine what your parents are paying for right now living at home
- Try to estimate your parents’ future health care costs with them
- Explore Life Care communities like Ventana to discover the value
Breaking Down the Costs at Ventana
Perhaps the first question that comes to mind when considering the move to a senior living community is, can my parents afford this? At Ventana, our team members sit down with prospective residents to make sure that, as Members, they would be financially comfortable.
Entrance Fees at Ventana
Members pay a one-time, largely refundable entry fee, as well as a monthly service fee, in exchange for a Life Care benefit. A portion of Life Care community entrance deposits are often refundable, and monthly fees cover services, amenities and programming, as well as the mitigation of the cost of future health care. Members at Ventana may even be eligible for a tax deduction associated with payment of the entrance fee and ongoing monthly fees.
Ongoing Health Care, If and When Needed
By entering into a Life Care benefit at Ventana, Members are not just covering the cost of their residence, meals, housekeeping, recreation, transportation and entertainment. They are purchasing the lifetime guarantee of on-site care for Assisted Living, Memory Care Services, Skilled Nursing and Rehabilitation when they need those services.
Value that Offers Potential Savings in the Future
The best part? This lifestyle isn’t as out of reach as you may think. When you do the math, choosing the right Life Care community can offer a remarkable value, not only reducing your parents’ current expenses, but offering significant savings for their lifestyle, healthcare and even taxes for years to come.
The team members at Ventana are happy to talk to you and your loved ones about their financial situation and make sure the plan you choose is affordable. Or, download our Value Guide that will help walk you through the financial considerations to make when deciding if your parents should move to a Life Care community.
Discover the Value of Living at Ventana by Buckner
When it comes down to it, your parents can’t afford not to choose a Life Care community. With financial predictability and a wide range of services offered, we assure you the value offered by Ventana is the best choice for your parents’ retirement years.
Learn more about the value of Ventana by Buckner – contact our team today.