YOU HAVE OPTIONS AT Spanish Cove when choosing how you want to invest in your retirement living. Spanish Cove is a Continuing Care Retirement Community (CCRC) offering three financial options that fit a wide variety of budgets and long-term health care planning needs. Life Care, Fee-For-Service and Rental Advantage options are listed below.
The Life-Care Advantage – Spanish Cove is a Life Care Continuing Care Retirement Community (CCRC) taking you from carefree independent living with the availability of home health care, to assisted living to licensed nursing care when or if that time comes. This difference makes Spanish Cove a gift that you give yourself and your family because it provides you with health care and financial security for life. It relieves your family of the administrative and monetary responsibility of finding short or long-term quality assistance and care. Residents pay a one-time entrance fee that entitles them to unlimited assisted living and long-term nursing care, should it be needed. These fees could be a tax-deductible medical expense depending on your individual financial status. Life-Care provides the greatest financial security against future rising long-term assisted living, memory care and nursing care costs.
Fee-For-Service – If you do not want to pay for Life Care, you don’t have to. Our Fee-For- Service Plan enables you to become an independent living resident at Spanish Cove with full access to all of our independent living amenities and services for a greatly reduced entrance fee and a lower monthly service fee. If you choose Fee-For-Service and you should ever need daily assistance or nursing care and choose the Pavilion at Spanish Cove, you will then pay a fee for only those services you use. This gives you the freedom to utilize your long-term care insurance policy or existing personal assets.
Rental Advantage – Spanish Cove offers a Rental Advantage* agreement based on apartment availability. A monthly service fee is paid and no entrance fee is required. Residents have access to all of the amenities, services and activities of the Cove. The agreement does not include long-term health care coverage.
Did you know you may be eligible to use portions of your Entrance Deposit and Monthly Fees for a tax deduction as a pre-paid medical expense at CCRCs? Consult your tax advisor how this may apply to you.
Call today at 354-5906 or 1-800-965-2683.
*Based on availability.