Can I afford a Life Care community in Arizona?

Header Image: Can I afford a Life Care community in Arizona?

Deciding if you can afford a Life Care community in the State of Arizona shouldn’t revolve exclusively around the fees. Questions such as “how much is the entrance fee,” ““what services are included in monthly fees” and “will the monthly fee change if I need a higher level of services” are just a starting point to explore options.

The monthly service fees of most Life Care communities tend to mirror the cost of homeownership in their area, so the fees of a community in Scottsdale will be more expensive than a community located in Surprise or Litchfield Park. Entrance fees vary widely based on the contract selected, amenities offered, nonprofit versus for-profit status, et cetera. 

A wise evaluation also will include a close look at the costs of a full continuum of care, should it eventually become necessary. Life care communities include the entire spectrum of care services from independent living to assisted living. 

For communities like those offered by Sun Health Senior Living, an all-inclusive contract ensures even the most intensive around-the-clock care won’t change the amount paid each month, regardless if it’s a short bedridden stint to recover from surgery or a 24/7 memory care need for the remainder of a resident’s lifetime. This ability to preserve the financial assets of each resident is a key selling point.

This article might interest you: Are Life Care communities right for me?

Rather than comparing the cost of a Life Care community to the cost of staying at home, comparing it to the costs of assisted living or a nursing home is a more relevant scenario. Assisted living averages $3,750 per month in 2017 for a one-bedroom residence, and the cost of more advanced nursing care averages $7,148 for a semi-private room and $8,121 for a private room.

And for those brave enough to compare these costs with the limitations of coverage provided by health insurance and Medicare, the potential out-of-pocket costs are daunting. A lifetime of savings can evaporate in months.

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Along with above cost statistics, Genworth offers a cost of care calculator that might be helpful. Click here to view numbers for Arizona:

Consider this… If you live another twenty years, can you afford to spend three months, nine months or five years of that time in assisted living or memory care?  

What happens when you hit the maximum cap that insurance is willing to pay?

To learn more about Arizona Life Care communities and how to protect your financial assets from the future costs of care, attend a Sun Health Senior Living workshop near you.

To speak to someone immediately, please contact Jackie Lusson, our corporate director of sales, at 623-236-3767.

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