Continuing Care Retirement Community NJ
The Vista Continuing Care Retirement Community (CCRC) Life Plan.
As a Continuing Care Retirement Communities (CCRC) also known as a Life Plan community, The Vista helps maximize independence by keeping residents healthy and in their homes as long as possible while providing options for the road ahead. The Vista campus, located in beautiful Wyckoff, New Jersey, combines independent living with access to extensive on-site health-care services for later life, including assisted living, memory care, and long-term nursing care. Depending on the specific financial agreement, some or all of these services may be guaranteed with an initial deposit and stable monthly fee, providing predictable medical costs for continuing care residents.
Not all Life Care contracts are the same.
For thousands of older adults, CCRCs are a compelling option. More than 750,000 older adults live in CCRCs, according to the American Association of Homes and Services for the Aging. While these communities are similar in offering the full continuum of supportive services, their financial agreements that dictate how future care is paid for can vary greatly. Continuing Care Retirement Communities that offer a Life Care contract provide the most extensive coverage, but they’re not the only type of CCRC agreement. At The Vista, we offer a choice of contracts to fit each person’s personal and financial preferences, including Life Care and Fee-For-Service.
What is a Life Care contract (Type A)?
The Life Care contract (also called Type A) covers full healthcare needs, so if someone needs to move to assisted living or memory care from independent living, they are paying the same monthly fee. With a Life Care contract, you can live a vibrant lifestyle today without worries about the potential cost of additional care tomorrow. No matter what level of support you may need in the future, you’re entitled to receive it in the same community, without a change to your monthly fee. A one-time entrance fee and ongoing monthly fee give you full access to the continuum of high-quality care, should you need it in the future, and a Life Care contract protects you from the ever-escalating cost of long-term care.
What does this really mean?
All other things being equal, a resident with a Life Care contract will pay more while living independently, either in the form of a higher entry fee or a higher monthly service fee. The trade-off is that almost all residential services, amenities, and if needed, health-related services—such as assisted living or skilled nursing care—are provided with little or no increase in monthly fees, other than inflationary adjustments. In essence, a resident of a CCRC with a Life Care contract pre-pays for some portion of health-related services that may be needed in the future.
Why should you choose a Life Care contract?
The benefit of a Life Care contract is that it provides better predictability of expenses for the rest of one’s life. Living in a Life Care community allows you to enjoy your favorite activities, groups and amenities without worrying about the landscaping, housework, maintenance or any future health care support. A one-time entrance fee and ongoing monthly fee provide for most living expenses, plus the peace of mind that comes from having health care for life as part of the contract.
What is a Fee-for-Service contract (Type C)?
A Fee-for-Service plan (also called Type C) means that you pay only for health-care services as you need them, if and when you need them. All other things being equal, a Fee-For-Service contract’s benefit is lower entry fee and/or monthly fees than Life Care contracts. Similar to a Type A contract, you have access to the full continuum of care on the same campus. However, if assisted living or skilled nursing care is required, the resident’s monthly fee will increase to reflect the current market rate for care at the time those services are needed.
Why should you choose a Fee-For-Service contract?
If you are generally healthy, you could choose a Fee-For-Service contract because it will, at least initially, have lower entrance and monthly fee amounts than other contract types. Under a Fee-For-Service contract, you are only paying entrance and monthly fees for independent living. If and when more care is needed, you will pay the going rate/monthly fees for assisted living, memory care and skilled nursing. The reason people choose a Fee-For-Service contract is that they might have long-term care insurance and do not need the financial protection of a Life Care contract. They are also not paying for future care that they may never need.
Health, healing, and wellness for all ages.
As you look towards retirement, consider The Vista, one of the premier continuing care retirement communities in NJ offering Life Care contracts and Fee-For-Service contracts. The Vista also offers a range of programs and amenities to engage, entertain, and inspire you. Secure your future with The Vista today! For more information, please call (201) 848-4200 or click Contact Us below for more information.