1. Life Care Communities

2. What is a life care community?
• Type of continuing care retirement community (CCRC) that
provides independent living, assisted living, and nursing home
care
• Extensive Type A Financial Agreement
• Different from other senior housing options
– Require a long-term, upfront financial commitment that guarantees
housing, services, and nursing care
• Large initial deposit plus a monthly maintenance fee
– Remains the same regardless of care needs
• Applicants must pass health and medical requirements
• Many operated by not-for-profit, faith-based organizations
that may provide services if residents run out of money

3. Candidates and Benefits
• Diane Moore, Senior Living Coordinator at Spring Lake Village:
– Life care is well understood on the East Coast but relatively rare on
the West Coast
– People choose extensive, non-refundable entrance fees because it
offers predictability and stability
– Healthy individuals with no long-term care insurance may find this an
attractive option

4. Skyline Village
• One of three life care communities in the Pacific Northwest
• One of three senior housing properties run by the
Presbyterian Retirement Communities Northwest
• Skyline attracts people committed to preserving their
financial estates
• Skyline residents pay an entry fee ranging from $400,000 to
$1,125,000
• Cost for skilled nursing care in 2010 averages $340 per day
• Many feel more secure with upfront costs and steady
monthly fees

5. Evaluate Finances
• A March 27, 2010 Wall Street Journal article, Searching for
Security by Kelly Greene, suggests seniors should investigate
the financial viability of life care communities
• Enlist professionals to scrutinize the facility’s ability to deliver
down the road
• Ask to see financial reports
– What is its positive net worth?
– Do operating revenues exceed expenses?
– Does it rely on endowments or donations and investments?
– Does it have a benevolence fund, insurance?
– Are residents involved in the community’s financial planning and
decision making?

6. SeniorHomes.com
• Information in this presentation provided by
senior care writer Leslee Jaquette
• SeniorHomes.com is a free resource for
seniors and families searching for housing and
care services
• Visit http://www.seniorhomes.com for more
information on senior housing

7. SeniorHomes.com
• Information in this presentation provided by
senior care writer Leslee Jaquette
• SeniorHomes.com is a free resource for
seniors and families searching for housing and
care services
• Visit http://www.seniorhomes.com for more
information on senior housing