Lifecare vs. Other Retirement Living Alternatives

When the Masonic Homes of the Grand Lodge of Pennsylvania decided to build a retirement community in Western Pennsylvania, the first step was to talk with people to determine the type of retirement living option that retirees in that area desired. That input, as well as a thorough evaluation of the marketplace, determined that the Masonic Village at Sewickley would be a Type "A" continuing care retirement community.

Type "A" retirement communities are usually referred to as "lifecare communities." They are regulated by the Pennsylvania Department of Insurance, and a portion of the entrance fee and the monthly maintenance fee is used for residents who eventually require higher cost assisted living and nursing care services. Residents moving into retirement living can count on fees remaining the same, aside from the cost of living adjustments, throughout the remainder of their lives, including assisted living and long-term nursing care. Since a portion of the fees is attributed to potential long-term assisted living and nursing care, there also is a tax deduction for those who qualify. Pre-existing medical conditions might require a different agreement.

Type "B" continuing care retirement communities are the least common and offer residents a limited number of days for assisted living or nursing care. After the contracted number is used, residents pay the full daily costs for such services. While the cost of moving into a Type "B" community may be less than a Type "A," contracts must be read very carefully. Be sure to evaluate the financial impact of possible long-term care.

The Masonic Homes at Elizabethtown represents a Type "C" continuing care retirement community. Like the others, residents receive housing, services, amenities, emergency response, and guaranteed access to assisted living and nursing care services. However, fees will change if additional care services are needed. Type "C" communities can offer a secure, dynamic lifestyle. For obvious reasons, this type of retirement community will have lower fees in retirement living than the other two.

So why is the Masonic Homes building a Type "A" community in Western Pennsylvania? The answer is quite simple: We listened to those with whom we talked and found other Type "A" lifecare communities in the Pittsburgh area are popular. Active adults today are planners as they look forward to longer and healthier lives. Living longer can also mean dealing with increasing possible health issues in the future. A lifecare community allows for increased control of your financial plan pertaining to certain health issues.

As the population ages, more assisted living and nursing services will be needed in Pennsylvania. Choosing a Masonic-sponsored continuing care community will make sure one is available for you should you need it. For more information on an exciting life at the new Masonic Village at Sewickley, call Mary Jane Hyre at 1(866) 872-0664, or print this page and return the attached coupon.