December 1, 2021
Finding a safe, comfortable senior care community for yourself or a loved one may give you some welcome peace of mind, but it could be short-lived if you or your parent needs additional care in the future. Rising healthcare costs are enough to give anyone pause!
Fortunately, there’s an alternative to wondering and worrying about the what-ifs you may encounter. An optional Lifecare plan offered by Springpoint Living at Manalapan means your monthly payments will remain similar to the rate you already pay at the community, even if you need a higher level of care*. Our Lifecare plan fee secures a guaranteed rate for skilled nursing care at our nearby sister community, Village Point Rehabilitation & Healthcare or any of our other Springpoint communities.
It’s no secret that healthcare expenses are on a steady upward trend, and that includes senior care services. For someone who may need to transition from assisted living or memory care to skilled nursing care, it can add up to higher cost than you may be expecting.
According to the National Center for Assisted Living, the median assisted living stay is about 22 months, and about 60% of residents then transition to another level of care. That means in addition to already rising expenses, you’ll need to consider the impact of advanced skilled nursing care.
In 2021, the median skilled nursing cost per month in the Manalapan area was estimated at about $12,400, according to the Genworth Cost of Care Survey. Fast-forward a couple of years (the average length of an assisted living stay), and by 2023, the survey predicts you can expect to pay about $13,100 a month for skilled nursing in a private room (a 6% jump from 2021 rates).
Fortunately, there’s an antidote to these worrisome figures, and you may have the opportunity to give yourself more control than you realize. The optional Lifecare plan at Springpoint Living at Manalapan allows you to lock in future care at rates comparable to what you’re already paying, even if your needs change over time.
This one-time Lifecare fee is a guarantee that provides a plan for the future, rather than at the mercy of a changing market. You’ll secure a predictable monthly payment for your needs now and in the future while protecting your finances against unexpected costs.
Not only does a Lifecare plan eliminate the worry of climbing costs, but it also allows you to create a sound budget and financial plan because you’ll already have your future expenses mapped out, regardless of what lies ahead.
You may not be able to foresee exactly what the future holds, but you can be sure your loved one’s needs will be met at monthly costs you can anticipate. Make plans to visit us at Springpoint Living at Manalapan. We’ll introduce you to our inviting community and explain how a Lifecare plan equates to a secure financial future and priceless peace of mind.