Navigating Life Plan Contract Options

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As a not-for-profit community, The Buckingham reinvests all financial resources into enhancing the community and living experience, ensuring a safe and luxurious place for them to thrive. With a variety of contract options to choose from, those considering joining our senior living community can select a plan that is tailored to meet your needs. We understand that selecting a financial plan for your future home can be overwhelming, but we invite you to explore the unique benefits each plan offers, so you can find the perfect fit for your peace of mind.

Independent living contracts

Life Care contract

The Life Care contract, also known as the Type A contract, is the most popular independent living plan at The Buckingham. With this plan, you can safeguard your current lifestyle as well as plan for your estate in the future. With a one-time entrance fee and a monthly service fee, you will enjoy priority access to a full continuum of care at prearranged, predictable rates.

Fee-for-Service contract

The Fee-for-Service contract, or Type C contract, offers a lower entrance fee, making it an attractive option. However, unlike a Life Care plan, this option doesn’t lock in higher levels of care rates. Even so, Fee-for-Service residents are guaranteed priority access to assisted living, memory care and skilled nursing, and you can also apply funds from a long-term care insurance policy later if you have one.

Leasing contract

The Leasing Plan at The Buckingham offers residents the flexibility to preserve their personal investments without the need for an entrance fee. This option provides access to the same services and amenities within independent living, though at a higher monthly rate. Residents who choose this plan enjoy priority access to assisted living, memory support and skilled nursing, with the added benefit of using their long-term care insurance to help manage the costs in these care areas.

 

Assisted living and memory care

For those who do not move into an independent living apartment but have additional care needs, you can come to The Buckingham and move directly into an assisted living or memory care apartment or suite without the need to pay an entrance fee. Residents and their families benefit from the all-inclusive monthly service fees and have the peace of mind knowing that predictable monthly fees include programming, utilities, meals and care. For both living options, long-term care insurance plans can help offset costs.

Skilled nursing and rehabilitation

If you, a friend or family member require skilled nursing or rehabilitation, The Buckingham offers all-private residences designed for comfort and care. With no entrance fee and only a monthly service fee, you may benefit from utilizing your long-term care insurance plan to help cover or reduce the cost of services.

The Buckingham also accepts a number of insurances in addition to traditional Medicare Click here for a list of accepted insurances.

Respite care

If you need a short-term solution for caring for a friend or family member, The Buckingham offers respite care. Your friend or family member will enjoy a private room, meals and full access to all of The Buckingham’s amenities for a daily fee.

 

Choosing the right senior living community is a significant decision, and understanding the pricing options is a crucial part of that process. At The Buckingham, we are committed to transparency and providing value, with various contract plans designed to meet the diverse needs of the residents. Whether you are looking for a flexible leasing option, the security of a Life Care plan or a Fee-for-Service contract, you can be confident that your investment will go towards creating a vibrant, supportive and enriching environment. We invite you to explore our pricing options further and discover how The Buckingham can be the perfect fit for your future by calling us at (713) 730-2633 or clicking here to contact our team.

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