Better Together

Friendship Village's Life Care Contract

Life Care offers savings, predictability, and peace of mind

Friendship Village believes its residents should have the opportunity to live life to the fullest each day. We focus on a healthy, active lifestyle and providing an array of activities that foster independence and wellness. However, the reality is you can’t anticipate what tomorrow may bring. That’s where our Life Care contracts come in. 

Life Care contracts stem from the concept of Life Plan Communities, formerly known as continuing care retirement communities, or CCRCs. AARP describes the communities as long-term care options for older people who want to stay in the same place through different phases of the aging process. While Friendship Village is known for its vibrant activities, Life Care contracts are there to offer assisted living for help with daily activities, memory support, long- or short-term rehabilitation therapy or skilled nursing care. They provide the right level of care, at the right time, when you need it.

There are many benefits to Life Care:

  • Affordability—Medical services are bundled together at a discounted rate.
  • Tax savings—By offsetting the cost of healthcare services, you may be eligible for medical tax deductions as allowed by the IRS.
  • Predictability—Know what costs to expect and that services will be provided at a single location. 
  • Location—Everything you may need is under one roof. If your needs change, you won’t have to move to a new location and start from scratch.
  • Proximity—Your spouse and friends are nearby. See them daily for socializing and dining together.

The fact is that so many of our residents choose Friendship Village because it saves them on expenses like mortgages, real estate taxes, home repairs, insurance, groceries, and more. Life Care offers significant discounts on your health care expenses so that you can preserve your assets for what matters most. Research has shown that living in a Life Plan Community provides many benefits to residents’ social, emotional and physical well-being. Care.com writes, “In a [Life Plan Community], there’s always a friend around, and many seniors like having the sense of community while still maintaining their private living space.”

As a nonprofit organization, Friendship Village is guided by a volunteer Board of Directors that ensures the ethical management and financial integrity of the community. Our mission is to provide services and care for those we serve, which means we are consistently looking to enhance the resident experience. Case in point, we will back your contract with the promise that you can maintain your residence even if your financial resources are depleted through longevity or illness. 

Furthermore, although our contracts for Life Care require an entrance-fee, (sometimes referred to as a ‘buy-in’)to the community, a large, pre-determined percentage of that may be refunded when your apartment is vacated (depending on the contract you choose).