What is Lifecare?

Financial Security

Health care security is a major reason why people choose a community that provides a continuum of care. Financial security is the reason they choose a Lifecare community. While Washington, D.C. debates health care, the cost of long-term care rises—often exceeding $100,000 a year. A Lifecare retirement community offers a practical way to prepare for a health challenge while controlling its expense.

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Lifecare FAQ

Below are a few commonly asked questions. However, we are only a phone call or email away if you have additional questions.

A must to consider in lieu of a long-term care insurance policy.  It is a financially predictable contract that provides all the services and amenities of independent living, with priority lifetime access to our complete continuum of care:  Assisted living, skilled nursing, memory care and rehabilitation, all under one roof on our beautiful Northern Virginia campus, in close proximity to Washington, D.C. Even if you have long-term care insurance you owe it to yourself to consider a lifecare community due to the uncertainty of insurances today and the financial peace of mind lifecare provides.

Simply put lifecare is the only choice that provides true peace of mind by providing a predictable monthly fee for the rest of your life. It protects your assets and reinforces your financial security. Lifecare is a way to free yourself from the chores and responsibilities of home ownership so you can spend more time enjoying the things you love to do. It’s a way to give your family the reassurance that you’re enjoying life, surrounded by friends and always close to any care you might need. Joining a Lifecare community alleviates the fears of becoming a burden to your children or aging among strangers. It prevents you from having to make a decision about your future under duress, if a health crisis strikes.

With the standard Lifecare contract, you pay an up-front, one-time entrance fee for your residence. Then, you pay monthly maintenance fees for ongoing services, including unlimited use of our health care services. Your monthly fees remain stable and predictable, with minor fluctuations for inflation and operational costs. You do not pay a higher fee if you need a higher level of care (for example, making a transition from independent living to assisted living). Compare Lifecare security to the alternative: paying the rising cost of long-term care as health care needs increase. A Lifecare retirement community provides you with a fulfilling, independent lifestyle, asset preservation for your estate, protection from expensive, pay-as-you-go long-term care, and the security of a full array of health care services, if ever needed.

If you do not have long-term care insurance a life care contract is the perfect alternative. If you do have insurance, you may no longer need it but don’t drop it until you discuss it with a marketing team member as well as your financial advisor.  Your policy may have benefits you want to keep, even with lifecare. We also offer an additional contract option which may partner well with your long-term care insurance policy.

In cases of financial hardship, the residents at Westminster-Canterbury may qualify for the Fellowship Fund, specially created to help them stay in their homes here with priority access to our health care services. Learn more about the Fellowship Fund here.

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Refund options

The Lifecare and modified care entrance fee plans are fully refundable for your first 12 months at Westminster-Canterbury. For months 13 through 50, the refund amount decreases incrementally as the fee is amortized at a rate of 2.63%.

In the event of death during the refund periods, these amounts are payable to your estate. We also offer 50% and 100% estate-preservation options if you want your estate plan to include additional monies for your beneficiaries. Information about these plans is available upon request. You have nothing to risk and everything to gain by learning more.

admission criteria lifecare

Admission criteria

If you are researching Life Plan Communities, you will find that there are several types of contracts. SVWC offers both Lifecare and Modified Care options.

A cognitive assessment performed by a member of our social services team, as well as a physical evaluation performed by your physician, are two key components of the evaluation. A member of our clinical team will meet with you in person and review your documents. The assessment will also address activities of daily living (ADLs) to help us assess each prospective resident’s appropriate level of care and whether any particular set of needs can be met successfully. The health assessment is time-sensitive and is not administered until 60 days prior to the date of the contract.

New resident health evaluations are required for Lifecare and Modified contracts.  This is because Lifecare and Modified contracts are actually forms of insurance. Since we are sharing certain levels of risk with our residents, an evaluation of health status as it relates to anticipated long-term care needs, is crucial. This process is standardized and applies well-established, third-party actuarial tools.

An applicant must be deemed financially eligible based on income and assets that are reasonably projected to be adequate, based on average life expectancy.  If a financial assessment is conducted long before residency, a financial assessment must be reviewed again 60 days prior to the date of the contract.  SVWC’s normal minimum age requirement is 60.

All of the information gathered during the health evaluation, as well as the financial assessment, is presented to the SVWC admissions committee. SVWC considers applications without regard to sex, race, religion, disability, creed, national origin, or employment history.

Request more info about Lifecare

Interested in learning more about Shenandoah Valley Westminster-Canterbury or would like to schedule a tour? Please fill out the form and a member of our team will contact you shortly.

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