The Cost of Monarch Landing, a Life Plan Community
Understanding the Cost of Senior Living at Monarch Landing
Monarch Landing is a Type C Fee-for-Service Life Plan Community (formerly known as a Continuing Care Retirement Community) for older adults. This type of community provides older adults with peace of mind that care is available if it’s needed; however, you’ll never pay for higher levels of care you don’t use.
What does this type of community entail? Unpacking the particulars makes the benefits of this model more transparent.
How Much Do Independent Living Apartment Homes Cost?
Like most independent living communities, Monarch Landing is similar in that the cost varies based on the size and style of the apartment home. Below is sample pricing to help you get a more realistic view of Monarch Landing’s affordability.
| Apartment Home Pricing | Admission Payment | Monthly Fee |
|---|---|---|
| 1 Bedroom Floor Plans | $295,000 – $492,000 | Starting at $2,935 |
| 2 Bedroom Floor Plans | $360,000 – $500,000 | Starting at $3,446 |
| 2+ Bedroom Floor Plans | $525,000 – $850,000 | Starting at $4,068 |
“We began to think about Monarch Landing because we could do other things and lead a more carefree life, and we’ve enjoyed every moment of it.”
What is a Life Plan Community?
Life Plan Communities are senior living communities that offer independent living along with a spectrum which can include memory care, skilled nursing, and rehabilitation – if or when it’s needed
What does it mean that Monarch Landing is a Type C Fee-for-Service Life Plan Community?
There are several types of Life Plan Communities. The three most common are Type A, Type B, and Type C. At a Type C Fee-for-Service community like Monarch Landing, you don’t have to pay for health care services you may never need. Instead, when care is needed, you pay only for what you need at market rates.
This type of community comes with the lowest upfront admission payment (or entrance fee) to ensure you have priority access to a continuum of care as needed.
What is covered by the admission payment?
The admission payment is paid when you move to Monarch Landing. This fee guarantees:
- Access to all levels of health care should your needs change.
- If you outlive your financial resources, you will never be asked to leave.
- Our Return of Capital plan ensures that no matter how long you live here, a substantial portion of your upfront costs will be returned to you or your estate upon re-occupancy of your residence, should you leave Monarch Landing for any reason.
What is covered by the monthly fee?
The monthly fee at Monarch Landing covers the cost of living you might otherwise have in your home, including maintenance, a Preferred Choice dining plan, utilities, and much more. In addition, all of the services and amenities Monarch Landing offers are included, with few exceptions.
Can I use my long-term care insurance at a Type C community?
Yes! Your long-term care insurance may actually have the most value at a Type C community like Monarch Landing.
When does my insurance policy come into play? Should you need care and support because you are unable to perform activities of daily living (ADLs) without assistance, then you can file a claim to have your long-term insurance help cover the costs according to the guidelines in your policy.
How much will it pay? How much benefit you receive depends on the type of long-term care insurance policy you have. A reimbursement policy, which is the most common type, pays for the cost of care up to the daily or monthly limit stated in your plan. A cash-indemnity policy pays a predetermined amount every month regardless of how much your care costs. You can use the cash benefit however you want.
Policies differ among insurance companies and have changed over time. Please check with your financial advisor about the benefits of your specific long-term care insurance policy.
Have more questions? Complete the contact form on this page.
How much will my long-term care insurance pay?
How much benefit you receive depends on the type of long-term care insurance policy you have. A reimbursement policy, which is the most common type, pays for the cost of care up to the daily or monthly limit stated in your plan. A cash-indemnity policy pays a predetermined amount every month regardless of how much your care costs. You can use the cash benefit however you want.
Policies differ among insurance companies and have changed over time. Please check with your financial advisor about the benefits of your specific long-term care insurance policy.
When does my long-term care insurance policy come into play?
Should you need care and support because you are unable to perform activities of daily living (ADLs) without assistance, then you can file a claim to have your long-term insurance help cover the costs according to the guidelines in your policy.
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