RICHMOND — With the trend toward consumers wanting more choices and with the widespread availability of long-term care insurance, Virginia Baptist Homes has added a second pricing option, offering flexibility and choice.
The fee-for-services option has recently become available at Lakewood Manor in Richmond, The Chesapeake in Newport News and The Glebe in Roanoke. The fee-for-services plan was already in place at Culpeper Baptist Retirement Community in Culpeper.
The original life care fee option pre-pays for health services available on-site at the communities. The new fee-for-service option provides the same lifetime residency rights in the apartment or cottage with the availability of the same continuum of on-site health services with the, “pay as you use it” option.
The fee-for-service option gives residents the ability to pay for future health care with an existing long-term care insurance policy or personal assets if and when assisted living or nursing care is needed. The monthly fee includes all the same services and amenities as is available in the pre-paid option.
The pre-paid option acts as a financial safety-net against potential high future health care costs associated with assisted living and nursing services should they ever be needed. This option appeals to many people because it allows them to predict future costs of living, including the cost of the health services available on-site at the communities.
The fee-for-service option appeals to individuals who already own long-term care insurance or have otherwise already planned for their potential future health care costs. The difference with the fee-for-service is that you only pay for the health care you use at the time when services are received.
Offering two pricing options gives the flexibility and choice of financial options to best suit individual circumstances.
For more information about the Virginia Baptist Homes retirement communities in Richmond, Newport News, Roanoke, and Culpeper go to www.vbh.org.