Presbyterian Homes, owner-operator of three continuing care retirement communities in the Chicago area, has added more flexibility, affordability and choice to its residence agreements to meet the changing lifestyles of older adults. Coupled with the rebounding of the real estate market, prospective residents could potentially move right into one of its retirement communities.
For prospective residents who are in the process of selling their homes, Presbyterian Homes created a deferred entrance fee plan. Now a new resident can pay just one-third of their entrance fee at move-in. The remainder is paid when their home is sold.
Retirees today want and need more choice and options, says Robert Werdan, vice president of marketing and public relations at Presbyterian Homes. We have looked at all the ways lifestyle and individual circumstances can impact needs and have built more flexibility into our residence agreements.
Presbyterian Homes is now offering a Plan A Life Care choice of a 50% or 90% refund to a residents estate with a Life Care agreement. For retirees who have purchased long-term care insurance, the organization offers a less expensive Plan B Continuing Care agreement, also with refundable options, which complements most long-term care policies.
Another new flexible feature is a $ 400 per month ($ 800 per couple) discretionary spending account. Instead of paying for a rigid monthly meal program, this discretionary amount can be spent on more than dining or entertaining a guest. Residents can spend the amount on a variety of things including concert tickets, transportation, purchases in the gift store or hair salon services. Those who are away for extended periods would receive a credit for the monthly amount.
For more information about Presbyterian Homes' continuing care retirement communities, which include Westminster Place in Evanston, IL; The Moorings of Arlington Heights in Arlington Heights, IL; and Lake Forest Place in Lake Forest, IL, call 847-866-1641.
About Presbyterian Homes
Founded in 1904, Presbyterian Homes is a not-for-profit, faith-based organization with a national reputation for creating extraordinary retirement communities. Presbyterian Homes serves older adults through its residential and healthcare programs on campuses in Evanston, Lake Forest and Arlington Heights and Chicago, Illinois. The organization is accredited by the CARF/CCAC, the nations only accrediting body for retirement communities. To find out more about Presbyterian Homes, go to http://www.presbyterianhomes.org.
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