Life Care at The Chesapeake
Security and peace of mind for the future
Life Care at The Chesapeake is a choice to take control of your future—how you want to live, where you want to live, and who you will trust to care for you as your needs change. Our Life Care option is often referred to as the “All Inclusive” plan because it provides for a lifetime of residency, care and financial security at The Chesapeake. As health conditions change, residents move between independent living, assisted living and nursing care, based on their health needs, yet always remain in familiar, comfortable surroundings, close to friends and caregivers whom they’ve come to know and trust.
Life Care serves as a “safety net” that guards against the escalating costs of assisted living and nursing care services. Monthly service fees stay the same even when the level of care increases. The only added expenses are for two additional meals per day (one meal is already included in the monthly fee) and ancillary charges such as beauty salon/barber services, medical supplies and pharmacy services.
With this all-inclusive option, a portion of the entrance fee in the first year of residency, and a portion of the monthly fees each year, serve as a prepaid medical expense for income tax purposes and may allow for a deduction. The Life Care Option offers entrance fees under a Standard Declining Refund, a 50% Refund or 90% Refund.
Entrance Fees for Life Care contracts start at $131,000. Monthly service fees for Life Care contracts start at $2,681.
Fee for Service
With our Fee for Service pricing option, residents pay a one-time entrance fee and monthly service fees for lifetime residency at The Chesapeake. This includes a choice of apartment, or cottage, as well as all community-based services, amenities and activities.
When residents require short- or long-term assisted living or nursing care, they pay for those services when the need arises. This gives residents the flexibility to use their existing long-term care insurance policies or personal funds to pay for on-site assisted living and nursing care. The Fee for Service option offers an entrance fee with a 90% Refund.
Entrance Fees for Fee for Service contracts start at $129,000. Monthly service fees for Fee for Service contracts start at $2,143.
(Fees vary depending on choice of residence, number of occupants, type of agreement, and the refund plan. Monthly fees are subject to annual increases based on the cost of living. If a resident’s funds become depleted, financial assistance may be requested.)