Is a Life Plan Community “Worth It”?

May 18, 2021 | Finance & Planning, Senior Living

A common misconception about senior living communities and Life Plan Communities in particular, is that they are more expensive than staying in your own home or moving to a condo. We frequently talk with people who assume a Life Plan Community is out of their price range without exploring options in their area.

Because a Life Plan Community comes with built-in benefits, a supportive community, and access to multiple levels of senior care, many residents find their cost of living actually goes down.

Finding the right senior community for you or a loved one will take some time and research, but we hope learning more about the value of Life Plan Communities will give you the resources to explore all of your options.

What is a Life Plan Community?

A Life Plan Community is one with multiple levels of care available to residents at any time. Many have options for Independent Living, Assisted Living, Memory Care, and In-Home Care all within the same campus. The specific services and amenities will vary depending on the organization.

At Sunset Senior Communities, we create a customized Life Plan for each resident. This plan is our commitment to provide a continuum of care that ministers to each resident’s physical, mental, and spiritual needs.

Sunset’s Life Plan is adaptive to each resident’s needs—whether this means a gradual transition from Independent Living to Assisted Living, temporary skilled nursing after an illness, or some extra help around your home. Living in a supportive community helps alleviate the worry residents may feel when planning for their future needs or living situation.

Comparing the Value

A budgeting exercise is a helpful way to illustrate the value built into a Life Plan Community. Take a moment to tally up your typical monthly expenses for:

  • Mortgage or rent
  • Condo/Homeowners association fee
  • Property taxes
  • Electric
  • Heat and central air
  • Water and sewer
  • Garbage and recycling
  • High-speed internet
  • Cable
  • Home maintenance
  • Outdoor/lawn maintenance
  • Snow removal
  • Home security system

This (and additional on-site amenities) are included in a resident’s monthly payment. Residents no longer have to worry about the typical responsibilities (and cost) of home maintenance and have control over their own schedules. Many of our independent living residents are still working or volunteering within their surrounding communities.

We have a free guide to help you navigate the financial aspects of senior living. This resource walks through the main levels of care, payment options, and how to access care. Download the guide by following this link.

Are Life Plan Communities “Just a Trend”?

Americans now spend an average of 20 years in retirement. As a result, the way we think about and plan for retirement is starting to shift. Many are looking for an active lifestyle in a community equipped to handle both present and future healthcare needs. This makes a Life Plan community like Sunset a good fit for those at any stage of life.

Specific services and features will vary across different Life Plan Communities, so it’s important to research your options and ask lots of questions.

A Full Continuum of Care

At Sunset, our Life Plans are foundational to how we serve our residents and their families. Not only do residents have additional healthcare services available at a moment’s notice, but our team works proactively with each one to create a Life Plan unique to them. Having these built-in support systems helps give both residents and families peace of mind.

Life Plan Communities may not be for everyone, and that’s okay. However, misconceptions about senior living may prevent you from exploring all of your senior living options. We want to help you find all the information you need to make the right decision for you or a loved one. Contact us with any questions or concerns. We’re always available to talk more about our services and provide additional resources.

In the meantime, here are other resources you might be interested in: