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If you’ve been researching your retirement options, you’ve likely come across a range of unfamiliar terms that may raise more questions than answers. What is a Life Plan Community? What’s the difference between a CCRC vs. a Life Plan Community? What’s the definition of an entrance fee? What exactly is meant by a maintenance-free lifestyle? We’re here to help with a list of common senior living terms and their definitions.
Also known as a Continuing Care Retirement Community (CCRC), this type of community offers a variety of residences and typically has requirements related to age, financial assets, income level, and physical health. A Life Plan Community provides planned social activities, interior and exterior maintenance, housekeeping, and a dining program. What sets a Life Plan Community apart is the long-term access to health care services included with a one-time entrance fee and ongoing monthly payments.
As we age, it’s common to require increasing levels of assistance. One of the biggest advantages of choosing a Life Plan Community is the ability to age in place—you don’t have to move elsewhere if your care needs change. These communities provide access to multiple levels of care on-site. While some Life Plan Communities offer the full spectrum—including independent living, assisted living, memory care, and skilled nursing—others may offer only one or two of these levels.
Sometimes referred to as active adult communities, these residences may be rented or owned. Some meals are typically included, and services such as housekeeping, laundry, and transportation may also be available.
This level of care is designed for seniors who need help with daily activities such as bathing, dressing, cooking, shopping, taking medication, and housekeeping. Assisted living offers the safety and peace of mind of 24-hour support. Look for a community that develops a personalized care plan tailored to your needs, which accommodates any disabilities while still encouraging independence.
This specialized form of assisted living features secure entrances and enclosed garden areas to help ensure residents’ safety. Memory care communities are designed to support residents with memory loss by offering layouts that are easy to navigate and reduce confusion. Staff are trained to support individuals with Alzheimer’s disease, dementia, and other cognitive impairments.
This is the most care-intensive level of senior housing and is staffed by nurses and other healthcare professionals 24 hours a day. Skilled nursing is intended for older adults who need regular medical supervision and care—such as after a surgery, illness, or injury—but who don’t require hospitalization. Care may be short-term (for recovery) or long-term (for chronic conditions).
A one-time fee based on the size of your residence and the type of contract you choose. This fee secures your home and guarantees access to future health care at below-market rates.
This ongoing fee typically covers property taxes, utilities, home maintenance, a dining plan, fitness memberships, and access to a wide range of services and amenities.
If you leave the community, some contracts offer an option in which a percentage of your entrance fee is refundable to you or your estate.
The availability of this type of fund depends entirely on the community. It allows residents to continue living in the community if their retirement savings become depleted through no fault of their own.
Refers to the convenience of living in a community where household tasks like yard work, repairs, and housekeeping are taken care of for you—allowing more time to enjoy retirement on your terms.
As the only nonprofit Life Plan senior living community in Southeastern Connecticut that combines a vibrant lifestyle with breathtaking waterfront views, Vista Point takes a different view of senior living and is creating an amenity-rich environment that’s close to some of the region’s best cultural attractions, entertainment, shopping, and dining.
To learn more, call (860) 968-VIEW (8439) or contact us here.
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