Choosing the right living arrangement for older adults is an important decision, both for residents themselves and their families. One option to consider is fee-for-service agreements, which offer a unique structure for managing costs in residential living communities. This type of agreement could be particularly appealing to those looking for financial flexibility without paying upfront for services they may never need.

What Is a Fee-for-Service Agreement?

A fee-for-service agreement in residential living allows residents to pay for services as they need them rather than committing to a prepaid, all-inclusive care package. This means lower entrance and monthly fees compared to other agreements. Residents benefit from access to health support services, but they only pay for the care they actually use. This model is ideal for individuals who prefer to maintain a sense of independence and control over their future care expenses. Fee-for-service agreements typically offer:

• Access to healthcare services: Residents can receive medical care when needed but are not required to pay for future care in advance.
• Maintenance of personal living spaces: Residents continue to enjoy their own space within the community.
• Community programs and amenities:  Social engagement and wellness programs are often part of the package, contributing to an active lifestyle.
• Continuum of care: If more extensive support is required, residents can remain within the community and receive the quality assistance they need.

Benefits of Fee-for-Service Agreements

One of the primary advantages of a fee-for-service agreement is the financial flexibility it offers. Rather than committing to upfront payments for potential future care, fee-for-service arrangements allow you to save money on services you may never use. Other benefits include:

Lower Living Costs

Entrance and monthly fees are generally lower compared to comprehensive care agreements.

Pay-as-You-Go Model

You only pay for care as it is needed, making this option more affordable for those who remain healthy and independent.

Fostering Long-Term Independence

Residents can remain within the same community, continuing to pursue their interests and maintain independence, even if support needs evolve over time. This helps to avoid the stress of relocating.

Lifestyle Perks

At Park Place of Elmhurst, residents enjoy maintenance-free living, upscale amenities, and a vibrant community life.

Explore Our Residential Living Options Today

Choosing a fee-for-service agreement offers a flexible, cost-conscious approach to residential living. If you’re looking for cost savings and the ability to pay for care only when it’s needed, a fee-for-service option could be ideal for you. Contact Park Place of Elmhurst today to explore which residential option is right for you and your family.