What kind of community is Aldersly?
If you’ve done any research about older adult senior living communities, you know that there are certain terms used to describe the various plans available. While you might have a general understanding of terminology such as a Continuing Care Retirement Community (CCRC), it’s a challenge to keep all the details straight.
In fact, when people visit our retirement community, the first question is almost always: What kind of community is Aldersly? Here’s a quick overview to clear things up about the options available to you—both at Aldersly and at other senior living communities.
Think of this as an umbrella term referring to services offered within a community. A CCRC, such as Aldersly, provides at least three levels of care: residential independent living, assisted living, and skilled nursing care. You may also hear this type of community referred to as a Life Plan Community—a newer term that more clearly depicts the lifestyle offered.
Under the umbrella of a CCRC, most communities offer several financial options for residents. It’s important to study these options carefully to make sure you’re getting the best plan for your lifestyle and budget. Recognizing that residents have varying circumstances, Aldersly offers a choice of three financial plans:
- Traditional plan with entrance fee: Residents will pay a one-time entrance fee based on the floor plan selected, along with a monthly fee for an inclusive package of services including meals, housekeeping, activities, and more. This package also includes priority lifetime access to assisted living and skilled nursing care at discounted rates. Plus, the traditional plan offers tax benefits, including the deductibility of a portion of the entrance fee—which is particularly appealing for those who are downsizing from a large home and facing large capital gains (see your tax advisor for details). In order to qualify for this plan, residents must have the ability to live independently and pass a medical screening.
- 50% return of capital plan: This plan has all the benefits of the traditional plan. The difference is that if the senior living resident passes away or moves out of the community after four years of residency, the resident’s heirs will receive a 50% refund of the entrance fee.
- Rental: Residents pay a one-time community fee and application fee, then a monthly rental fee. Assisted living and skilled nursing are available at market rates.
With all three of these plans, Aldersly residents only pay for care if they require community services. Care is available on-site in Rosenborg Assisted Living and the Health Care & Senior Rehabilitation Center at Aldersly—providing important reassurance for residents.
“The main reason I chose Aldersly was the security of having assisted living and skilled nursing care right here in my community if I ever need it,” says Marjorie Schwier who moved to Aldersly from Corte Madera in 2017.
Other communities offer a version of a CCRC called “lifecare,” in which residents pay a significantly higher entrance fee for predictable healthcare costs in the future, even if they require care in on-site assisted living or skilled nursing care. This plan often requires more stringent medical underwriting in order to qualify for residency.
For full details about the financial options available at Aldersly, please call (415) 453-7425 to schedule an appointment and tour.