In Continuing Care Retirement Communities that utilize a Life Care contract, residents pay an upfront Entrance Fee and an ongoing Monthly Service Fee. In return, residents receive assisted living, memory care, and long-term nursing care at significantly discounted rates.
Here at Blakeford, the cost for these services to our Life Care members is 30% to 50% lower than the market rate for comparable services, no matter how long you may need it. This lifetime benefit also works with–and even augments–long-term care insurance. In most cases, long-term care policies will work together with Life Care to defray monthly service fees, dramatically reducing out-of-pocket expenses for future care needs.
In addition, in many cases a portion of both the Entrance Fee and Monthly Service Fees can be used as pre-paid medical deductions on your federal tax return and can have a favorable impact on tax liabilities.
With Life Care, Blakeford assures 24-hour care by a team of professionals for life, even if one should outlive their assets. Residents who have done a direct comparison are often surprised to learn that this option is the most comprehensive senior care plan available and provides the most cost-effective option while protecting their financial legacy.