When planning for the future, many Huntington retirees like yourself make the wise choice to consider the current and longer-term cost of living in West Virginia. It’s a significant piece of the financial picture necessary to create a plan to successfully age in place.
The 2018 cost of living in West Virginia was almost 6% below the national average, making it a great choice in terms of states in which to retire, and makes choosing a community like Woodlands an even safer bet. This is because even if the cost of living in West Virginia increases, choosing a community that provides an excellent, consistent value is a proactive choice that provides a worry-free future.
Continuing Care Retirement Communities (or CCRCs) like Woodlands offer a stable and affordable long-term option, thanks to the LifeCare model. This model includes a contract that outlines an entrance fee based on the residence you select, and a stable monthly cost. By choosing a CCRC, active seniors like you can have invaluable peace of mind for the future, knowing that their expenses won’t significantly change, even if the cost of living in West Virginia increases.
What do the entrance fee and monthly service fee cover?
When a person moves to a CCRC, they pay a one-time entrance fee and a monthly service fee. The funds for the entrance fee typically come from the sale of a house, and it will cover your personalized apartment home at the community. A portion of the entrance fee at a CCRC also covers future healthcare costs, so that if you ever have the need, you’ll have guaranteed, complete access to the on-site higher levels of care, for life. Additionally, the LifeCare contract ensures that your monthly service fee will not increase as a result of needing healthcare services. In all, a LifeCare contract is essentially a comprehensive insurance plan that lasts for life.
The monthly service fee at a CCRC also covers a monthly package that includes services like home and community maintenance, as well as dining, utilities, amenities, programming and much more. You will no longer worry about mowing the lawn, cooking meals or cleaning the house. Instead, you’ll enjoy your hobbies, spend more time with family and friends, and find new things to bring you joy. Best of all, the monthly service fee is typically less than your current monthly bills, making it a strong value.
The LifeCare model ensures that regardless of the cost of living in West Virginia, you’ll have a stable, secure, affordable future. Want to learn more about the benefits of moving to a CCRC like Woodlands? Give us a call at 304-697-1620, or visit us online to get your free information kit.