Financial Options at Park Place
Planning for Tomorrow Just Got Easier
Explore flexible financial agreements for a secure future in a Life Plan community.
Financial Options at Park Place
Planning for Tomorrow Just Got Easier
Explore flexible financial agreements for a secure future in a Life Plan community.
Financial Agreement Options at Park Place of Elmhurst
Choosing a Life Plan community, also known as a Continuing Care Retirement Community, like Park Place is a decision about how you want to live now and how your needs will be met in the coming years. It’s a proactive step that keeps decisions in your hands and provides the security you need to live the life you want.
Two agreement types are offered: The Life Care agreement and our newest offering, the Fee-for-Service agreement, which is available on a limited basis.
Life Care Agreement
The Life Care agreement offers the ability to prepay for future healthcare through a higher monthly and entrance fee.
By choosing Life Care, you gain financial predictability for your long-term care costs. If you, your spouse, or both of you live independently but need more support and move to assisted living, memory support or nursing care at Park Place, you would pay an equalized rate that amounts to the median cost of all independent living residences within the community. This can represent very significant savings.
Life Care is appealing to those who want to limit their risk and increase financial predictability. It is often preferred by those with no long-term care insurance or those who wish to secure additional benefits to supplement their long-term care insurance.
Fee-for-Service Agreement
The Fee-for-Service option is often chosen by those who are comfortable self-insuring or who have long-term care insurance.
Download Our Guide to Life Plan Living
Discover the benefits of Life Plan living at Park Place of Elmhurst, offering independent living, assisted living, memory care, skilled nursing and rehab — all in one connected community.
Which agreement is best for you?
Deciding between the Life Care and Fee-for-Service agreements is an important choice that should align with your lifestyle and future healthcare needs. To better understand the benefits and to determine which option fits you best, we invite you to contact us.
Guide To Life Plan Living