Life Plan Community 101
Are you wondering what a Life Plan Community is? Or perhaps a Continuing Care Retirement Community (CCRC)? You’re in the right place to get answers. When you’re looking for a home to age-in-place, you may hear these terms. They all refer to the same thing: a senior living community where older adults can live life on their own terms, while also having easy access to personal and healthcare services for both now and the future.
Most seniors join a retirement community as independent living residents in apartments, flats, or duplex homes. Depending on your community, certain services, such as maintenance and housekeeping, may be included in your fees, as well as daily dining, social activities, and fitness programs.
Keep reading to learn about the different options available as you research your future community — and why Porters Neck Village provides the perfect blend of security and flexibility!
Support for Today — And the Future
One of the most significant benefits of a Life Plan Community is easy access to progressive levels of health support. The specific continuum of care will vary from community to community, but generally includes assisted living, memory care, skilled nursing, long term and skilled care.
Residents at Porters Neck Village have easy access to on-site support through our Resident Care Center, as well as customized home care options including personal care with activities of daily living (ADLs), companionship, transportation, and medication management.
Through our contractual partnership with the Davis Community located across the way, residents receive discounted rates for assisted living, memory care, and skilled nursing when they transfer permanently. In addition, if they need a temporary stay in skilled nursing, they receive 30 days of complimentary care annually.
Residents and their families enjoy peace of mind knowing they will always be well taken care of. Additionally, if you or your spouse requires different levels of care, we are committed to helping you stay together in your independent home through home care when possible.
Financial Components of Life Plan Communities
The entrance fee, or admission payment, is a one-time, upfront payment that can range from a few thousand dollars to over a million, depending on the community and residence type. Entrance fee contracts vary, but many offer full, partial, or declining refund options. Porters Neck Village offers a variety of entrance fee contracts depending on the floor plan.
The monthly service fee is a monthly cost that covers the wide array of services, amenities, and programs that residents enjoy while living in a senior living community. The cost depends on factors such as residence size and the number of occupants.
When comparing monthly expenses, many seniors find that living at a Life Plan Community like Ports Neck Village often costs less than maintaining a private home — all while providing access to exceptional dining, maintenance-free living, and countless opportunities for wellness, recreation, and social connection.
Types of Continuing Care Contracts
How you pay for health services at a Life Plan Community depends on the type of contract your community offers. In North Carolina, most Continuing Care Retirement Communities offer one or more of the following types. You can also learn more with this useful CCRC Reference Guide, courtesy of the NC Department of Insurance.
Type A: Extensive or Life Care Contract
With this type of contact, you pay an entrance fee and a monthly fee that covers your home, community services, and current support needs. If you ever need a higher level of care (like assisted living or skilled nursing), you can move to that level at a significantly reduced and predictable rate.
Type B: Modified Contract
This type of entrance fee community contract offers an ideal balance between future security and flexibility. Seniors interested in independent living who want long-term care security and lower upfront costs will find a good fit with this contract model, which includes current amenities and services as well as future healthcare with customizable options.
If your care needs evolve, with this contract model, residents can receive assisted living or skilled nursing support for a set number of free or discounted days, allowing them to pay reduced market rates for additional care. This provides seniors with a perfect blend of prepaid care and “pay-as-you-go” services — all while offering financial security and future peace of mind without high premiums.
This is the type of contract model you will find at Porters Neck Village, where residents enjoy both everyday luxuries as well as future security — and all for an amazing value.
Type C: Fee-for-Service Contract
With this type of contact, your entrance and monthly fees cover your residence and services. If you ever need higher levels of care, you’ll have priority access to them, but you’ll pay the current market rate for the services you use.
Get to Know Porters Neck Village
At Porters Neck Village, our Modified Type B contract entrance fee model grants you access to a wide range of amenities and support — for both now and the future. Your monthly fee includes a host of amenities and services, such as our 24-hour Resident Care Center, flexible dining options, apartment maintenance, fitness classes, and social programming. Residents also enjoy access to a wide range of communal spaces and modern amenities of our community expansion, like the:
- Village Garden
- Wellness Center
- Resident Care Center
- Walking trails
- Putting greens
- Central Bark Dog Park
- Fitness Center & Pool
- Artisan Room
- Gaming & Billiards Room
- Cardinal Club Card Room
- Cutting-Edge Craft Center
- Cypress Hall Movie Theater
- Village Library
- Salon
Prices & Monthly Fees
Affordable prices on our 50% Refundable Entrance Fee plan start at:
Apartments
- $151,500 with monthly fees beginning at $4,064 for a One-Bedroom Apartment
- $205,000 with monthly fees beginning at $4,844 for a Two-Bedroom Apartment
Flats
- $442,000 with monthly fees beginning at $5,368 for a Two-Bedroom, Two-Bath Flat with a bonus “YOU” Room
Duplex Homes
- $491,500 with monthly fees beginning at $6,849 for a Two-Bedroom, Two-Bath Duplex Home with a bonus “YOU” Room
Take our easy, two-minute MoneyGauge® assessment to find out if Porters Neck Village is a good financial fit for you.
Learn more about sophisticated senior living in Wilmington, NC! Contact us today and start planning your future retirement.
