LifeCare CCRCs were first developed in the Unites States over a century ago and continue to adjust to the evolving needs of succeeding generations of Americans. Over the decades, providers have developed a wide variety of service-enhancements and care options to improve the quality and extent of services offered to residents. Pricing structures and healthcare commitments also continue to evolve.
The entry fee LifeCare retirement community is a concept that is rapidly growing in popularity throughout the country today. An entry fee community is structured to charge an upfront payment, such as the down payment on your current home. But, instead of buying real estate, you are purchasing household and health-related services, and the right to live at the community for the rest of your life – secure in the knowledge that, should your health fail, you will have all of your healthcare needs met, short of an acute illness requiring hospitalization.
Most people use a portion of the proceeds from the sale of their home to fund the entry fee. With the flexible financial plans and incentives we offer there is no better time to consider selling your home and moving to Freedom Pointe.
As you compare Freedom Pointe with rental retirement communities, you will be struck by how much lower our Monthly Fees are than at the rental retirement communities - as much as 50% lower. This is because your entry fee is "buying down" the monthly fee, just as you lower your monthly mortgage payment with a larger down payment when you purchase a home. Your entry fee enables you to receive the same services at a lower monthly cost.
Freedom Pointe has financial programs to give you options and are flexibly structured to let you preserve as much of your capital as you desire, which you may pass on to your estate. Depending upon which of our entry fee financial plans you choose, your fee may be partially or fully refundable to you or your estate.
Healthcare benefits also accompany your entry fee. As a full service Continuing Care Retirement Community (CCRC) we have a total continuum of health, therapy and other care services on our campus. Residents can choose from many financial plans which include optimal health care coverage with varying healthcare benefits to accommodate individual needs. Depending upon the plan you select, you can also tailor your future healthcare costs to fit your budget.
As a LifeCare community, once you are accepted as a resident at Freedom Pointe, your entry fee also guarantees that, should you run out of money Freedom Pointe will pay for your shortfall. You will never be asked to leave Freedom Pointe if you should exhaust all of your assets through no fault of your own.
The IRS has ruled that at entry fee communities like Freedom Pointe - with significant healthcare savings and a LifeCare provision - portions of your entry fee and your monthly fee are deductible on your Federal Income Tax return as prepayment of medical expenses. Our Life Estate Deed offers tax advantages that are similar to home ownership.
Combine this tax savings with our full or partial refund of capital programs, a lower monthly fee and savings on future healthcare costs - and the elimination of any concern you may have about running out of money - and you can easily see the value-added you receive at Freedom Pointe.
NOTE: We urge you to consult your financial or tax advisor or your attorney so that you determine how the Freedom Pointe program fits into your total financial picture.