Learn About Senior Living
General Questions About Senior Living:
1) What are my retirement choices?
2) What is a continuing care retirement community (CCRC)?
3) What is life care?
4) What is meant by the phrase levels of care?
5) Are there any tax benefits to living in a continuing care retirement community (CCRC) with life care?
6) What about Medicare and Medicaid? Don’t they take care of everything?
7) What are the benefits if I have my own long-term care insurance?
Questions about Senior Living at the Hill at Whitemarsh:
8) What choices do I have about the types of residency plans?
9) What is covered with my entrance fee?
10) What is included in my monthly service fee?
11) Can I bring my pet?
12) Can I still work while living at The Hill at Whitemarsh?
13) How much time do I have to move into The Hill at Whitemarsh once I make my deposit? What is the process?
Senior Living Resources:
Excercise And Healthy Aging
Silver Surfers And The Internet
Additional Senior Resources
General Questions about Senior Living
1) What are my retirement choices?
When you first sit down to plan your retirement, there’s certainly a lot to consider. Family, friends, finances, community ties—they all factor into your decisions.
Many people initially want to stay put and bring care into their home if needed. But they often underestimate the hassles of keeping up a house and yard—especially as circumstances change. They’re also shocked to discover the cost of in-home care can be well over $100,000 per year.
Another option is to move to a traditional retirement community or assisted living facility. But what happens if your needs increase? Are you willing to move a second time—perhaps away from your spouse and friends?
Those concerns often lead people to consider a continuing care retirement community (CCRC), which offers several levels of care. However, it’s important to know there are different types of CCRCs—particularly with respect to financial arrangements.
Some CCRCs, called fee-for-service or rental communities, simply offer different levels of care. Should you ever find yourself needing nursing care in the future, it could cost $300 per day.
At The Hill at Whitemarsh Philadelphia’s premier retirement community, we believe the best CCRC model includes a type of financial protection called life care. By paying an entrance fee that covers future care, you can shield your assets from spiraling health care costs. You get to enjoy an active, independent lifestyle with impeccable service in your own luxury cottage, apartment or villa. And if you need assisted living or nursing care in the future, you’ll receive it right here on campus for virtually the same monthly fee.
2) What is a continuing care retirement community (CCRC)?
A continuing care retirement community (CCRC) is a retirement living option designed to meet your needs on one convenient campus—even as those needs increase. CCRCs typically include independent living, assisted living and skilled nursing care.
At The Hill at Whitemarsh, most people move in while they are healthy and active. That way, they can take full advantage of the lifestyle in our luxury cottages, apartments and villas.
Imagine starting the day with an invigorating swim in our heated, indoor pool. Or perhaps you prefer a rejuvenating workout in our fitness center with a certified personal trainer.
Later, you might decide to stop by the business center to e-mail photos from a recent trip to the Philadelphia Art Museum. Or, maybe meet friends for a round of golf at one of our neighboring country clubs.
In the evening, you’ll be treated to gourmet dinners that rival some of the best restaurants in town. Then, you might head off to the Philadelphia Orchestra or one of the other cultural icons at your doorstep.
Down the road, if you need more assistance, you’ll receive it at Oakley Hall and Mather House, our respected assisted living and nursing care programs. You’ll never have to deal with the hassle of another move, and you’ll always be close to your spouse and friends. And with our life care program, you have financial protection against spiraling health care costs.
Life care is a valuable option some continuing care retirement communities (CCRCs) offer to protect you from escalating health care costs. At The Hill at Whitemarsh, you pay a one-time entrance fee in addition to a monthly service fee. The entrance fee guarantees, if you ever need assisted living or nursing care, your monthly fee stays virtually the same. You have peace of mind knowing you’ll be able to receive care on campus—and that your assets are protected.
When choosing a CCRC, it’s important to take a close look at how the contract is worded. All communities that offer life care are CCRCs—but not all CCRCs offer life care!
The word CCRC simply tells you that a community has independent living, assisted living and nursing care. Unless the CCRC specifically offers life care, your monthly fees will increase—often substantially—if you move from independent living to a higher level of care.
Here are some common types of contracts. Be sure to understand the differences, so you can choose what’s best for you.
- Life Care or Extensive Agreement
This is the type of agreement we offer at The Hill at Whitemarsh. You’ll pay an entrance fee but have the security of knowing you’re protected against future health care costs. If you ever need assisted living or nursing care, the only increase to your monthly fee will be a small amount to cover the two additional meals per day.
- Modified Agreement
With this type of agreement, you have access to different levels of care—but the monthly fee increases when you need more assistance. Some communities specify that a certain number of days are included, or they offer a discounted rate. But the rate itself continues to increase as market prices rise.
- Fee for Service
With this type of agreement, you pay a low monthly fee compared to other contract types. But keep in mind you are responsible for all costs of additional health care. Typically, there are no discounts or free days included.
4) What is meant by the phrase levels of care?
A continuing care retirement community (CCRC) like The Hill at Whitemarsh is designed to meet your needs on one convenient campus—even as those needs increase. Most people move in when they’re healthy and active, so they can take full advantage of the luxurious, invigorating lifestyle. If you ever need more assistance, you can receive it right on campus surrounded by your spouse and friends.
The phrase levels of care refers to the different types of assistance someone living at a CCRC might need. There is independent living, assisted living and skilled nursing care. These services can be provided on a temporary basis or a long-term basis depending on your needs.
5) Are there any tax benefits to living in a continuing care retirement community (CCRC) with life care?
Yes! The entrance fee and monthly fee you pay to live in a CCRC are considered prepayment for future health care costs. The IRS allows you to take a deduction on the payment of the entrance fee the year you move in. You can take deductions on monthly fees as long as you live in the community and are paying monthly service fees.
Last year at The Hill at Whitemarsh, the deduction was about 32% on the nonrefunded community-fee portion of the entrance fee. We encourage you to consult with your accountant, financial planner or estate planner to review your personal tax filing needs.
6) What about Medicare and Medicaid? Don’t they take care of everything?
No they do not. Medicare provides coverage for short-term skilled nursing care and requires a minimum of three (3) midnight stays in the hospital as a basic requirement. Medicaid provides coverage for long-term skilled nursing care to those who have spent down nearly all of their assets and then provides a personal needs allowance.
Both programs have very specific criteria for eligibility, and benefits are provided with many limitations. It is important to educate yourself on the nuances of these benefits and the associated requirements. In addition, many new communities Certificate of Need does not permit for Medicaid licensure. The Hill at Whitemarsh is not licensed to be a Medicaid provider.
7) What are the benefits if I have my own long-term care insurance?
Long-term care insurance can help pay for care when you need assisted living or nursing care. It typically reimburses your out-of-pocket expenses based on the policy benefits.
Separate from the long-term care insurance you purchased on your own, The Hill at Whitemarsh offers a life care program. By paying a one-time entrance fee in addition to a monthly fee, you shield yourself from future health care costs. If you ever need assisted living or nursing care, your monthly fee will stay virtually the same. If you have long-term care insurance in addition to life care, you can use your long-term care insurance to reimburse yourself for the monthly community fee as an out-of-pocket medical expense.
Our sales counselors at The Hill at Whitemarsh can help you understand how other residents have used long-term care insurance in conjunction with our life care program.
Please keep in mind that long-term care insurance policies vary greatly. We recommend consulting with your financial planner or estate planner to review your personal policy. Pay particular attention to what is covered and for how long, and what exclusions apply.
Questions about Senior Living at The Hill at Whitemarsh:
8) What choices do I have about the types of residency plans?
The Hill at Whitemarsh offers two residency plans.
Both plans feature the financial security of life care, which provides better protection than most long-term care insurance programs. You’ll enjoy an active, independent lifestyle now knowing, if you ever need assisted living or nursing care, your monthly fee will stay virtually the same. The only change is a nominal fee for providing three meals a day, which is required in higher levels of care.
The two residency plans are:
- 90% Refundable Plan: This plan returns 90% of the residential component of the entrance fee to you or your estate.
- The Traditional Plan: This plan offers a lower entrance fee. The refundable residential component of the entry fee declines by 10% the first month you live here, then by 2% per month for the following 45 months.
9) What is covered with my entrance fee?
Your entrance fee is your protection against spiraling future health care costs. You enjoy an active, independent lifestyle in a luxury apartment, cottage or villa now. And if you ever need assisted living or nursing care in the future, your monthly fee will stay virtually the same.
The entrance fee is based on a few factors including the square footage of the home you choose, the residency plan you select, and whether it is for one person or a couple. We do not double the entrance fee for couples, but there is a one-time second person entrance fee.
Your entrance fee supports the community’s financial well being, maintains the cost of health care provided to all residents, and prepays your future health care costs. Since part of the fee goes toward your future health care costs, a portion of it is tax deductible.
In 2008, The Hill at Whitemarsh residents received a deduction of about 32% on the nonrefunded community-fee portion of the entrance fee. We recommend consulting with your accountant, financial planner or estate planner to review your personal tax filing needs.
10) What is included in my monthly service fee?
Your monthly fee covers the amenities and services that create the fabulous lifestyle at The Hill at Whitemarsh. It’s based on the square footage of the home you choose, and there is an additional monthly charge for a second person.
Similar to entrance fees, your monthly fee is tax deductible and can be claimed annually. We recommend consulting with your accountant, financial planner or estate planner to review your personal tax filing needs.
Here are just some examples of what your monthly service fee includes:
- An innovative dining plan that offers a monthly meal credit to be used for any meals of your choice during the month. You’re not limited to one meal per day!
- Weekly housekeeping service
- Apartment utilities except internet
- Scheduled transportation to local appointments
- On site full-service banking and ATM machine
- Business center with computers, fax machines and shredders
- Library
- Indoor pool, spa and fitness center for general use or classes
- Art studio
- Stadium style theater for movies, lectures and presentations
- Full range of activities including excursions, presentations, educational opportunities and entertainment.
Yes, you’re welcome to have a cat or a dog.
12) Can I still work while living at The Hill at Whitemarsh?
Absolutely! We have many accomplished professionals living at The Hill at Whitemarsh who continue to excel in their careers. Others choose to apply their experience and skills serving on boards and committees here or in the greater Lafayette Hill and Philadelphia area. Walking around campus, you’ll run into most of the business and philanthropic leaders who built and continue to shape the greater Philadelphia area.
The best time to move to The Hill at Whitemarsh is while you’re active and healthy. That way, you can take full advantage of your new home and luxurious lifestyle.
Without the hassles of maintaining a house and yard, you’ll be free to focus on the people and activities you care about. You’ll also have peace of mind knowing that you’ve made a prudent investment to shield your assets from spiraling health care costs.
13) How much time do I have to move into The Hill at Whitemarsh once I make my deposit? What is the process?
Once you select one of our spacious cottages, apartments or villas, you’ll have three months to settle. What’s more, we’ll help you every step of the way to remove the stress and cover the costs of moving. Not only will we provide professional real estate assistance, we’ll also help you organize and pack years of possessions—and assist with local moving expenses.
The process begins with doing your research, asking questions and taking tours. When you’re sure The Hill at Whitemarsh is right for you, you’ll place a “hold” on the particular residence you desire.
Over the next few weeks, you’ll have a medical and financial review to make sure you can live safely in independent living. The review also gives you peace of mind that you’re at low risk to experience any financial hardship in making this choice.
Once approved, you’ll make a 10% deposit of the entrance fee. The remaining balance of the entrance fee is due within 90 days and then you are free to move into your new home!
We’re also offering a special bridge loan program through Abington Savings Bank. When you get a bridge loan through Abington Savings Bank, if your house hasn’t sold by the time you settle on your new home here, we’ll pay the next six months of interest payments!
Senior Living Resources:
Exercise and Healthy Aging
We all know the benefits of physical activity: it keeps the body in shape and the mind sharp. Exercise is important at any age, but with regular physical activity, older adults can continue to maintain their independence and can enjoy long-term health benefits.
Regular activity can help reduce the risk of developing some diseases and disabilities and can be a valuable aide in the treatment of some conditions.
The Hill At Whitemarsh is committed to providing a healthy environment and a variety of opportunities for seniors to maintain an active and vibrant lifestyle. Check out our indoor pool and our Fitness Center, which offers a group and specialty classes, supervised workouts and personalized programs.
The National Institute on Aging provides an exercise guide for older adults. For more information, go to:
http://www.nia.nih.gov/HealthInformation/Publications/ExerciseGuide/
You can also visit HelpGuide.org and read: Exercise Guide for Exercise Haters at:
http://www.helpguide.org/life/exercise.htm
Silver Surfers and The Internet
It’s not just for teenagers! Research shows that seniors are the fastest growing internet user group; in the US, 22% of Americans 65+ use the internet, a 47% increase in just 4 years!
Did you know:
- 65% of CCRC prospects use the internet to research senior living
- 69% of “wired” seniors are online daily.
- The number one reason for seniors going online is for information: 58% found the internet to be crucial during a health crisis and 45% of senior users said the internet helped them make health decisions.
- Seniors are beginning to use the internet for email, social networking and games.
- Many seniors work from home and find internet access integral to their business.
The Hill At Whitemarsh provides a Business Center, with computers, fax machines and shredders. There is wireless access throughout the community spaces for the convenience of residents.
For more information on surfing the web and senior services, go to:
www.wiredseniors.com
www.friendly4seniors.com
www.aarp.org
Additional Senior Resources
http://www.icaa.cc/
The Association for Active Aging Professionals helps connect older professionals with other like-minded professionals for networking, advice and more.
http://www.panpha.org/
PANPHA is an association of nonprofit senior services which advocates for public policy initiatives supporting senior living in Pennsylvania.
http://www2.aahsa.org/
The American Association of Homes and Services for the Aging is a resource for seniors dedicated to providing the services that they need, when they need them, in the place they call home.
http://www.arthritis.org/chapters/eastern-pennsylvania/
The Arthritis Foundation site includes information regarding arthritis symptoms, treatment and advice.
http://www.onedayu.com/
One Day University offers a wide array of one day courses taught by the top professors from the the nation's best colleges/universities.
http://www.astralartists.org/
Astral Artists is a site for lovers of classical music. Research or buy tickets for upcoming events featuring young up-and-coming classical musicians.
http://www.whitemarshfoundation.org/
The Whitemarsh Foundation is dedicated to saving Erdenheim Farm. Their goal is to permanently protect the farm, and continue its agricultural heritage.