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LifeCare® & Financial Plan Overview
When you enter independent living at Cottage Grove Place under one of our LifeCare® plans, you’ll pay a one-time entrance fee, along with a recurring monthly fee.
The entrance fee is determined by the size and type of apartment-home you choose, and entitles you to a lifetime in your home and priority access to future care if you ever need it—including assisted living, memory care, skilled nursing, rehabilitation or long–term care—even if you outlive your resources.
The monthly fee depends on the size of your residence and the number of occupants. A second person living in the residence pays a significantly lower rate. It covers utilities, dining, security, housekeeping, interior and exterior maintenance, transportation and the other amenities that make Cottage Grove Place special.
The monthly fee also includes the services of a health care navigator to help assess your needs, coordinate your care and serve as a communication bridge among health care providers and family members. The health care navigator also provides education, advocacy, problem-solving and emotional support to ensure you have access to necessary resources within and outside our community.
The Choice Is Yours At Cottage Grove Place
Yes, you really can have it all. With our variety of LifeCare® contract choices, you’re bound to find a way to live at Cottage Grove Place that fits your lifestyle and finances. Take a look below to see highlights of our LifeCare options.
Key highlights of LifeCare:
One-time entrance fee + recurring monthly fee.
Guaranteed lifetime in your home even if you outlive your resources.
Priority access to advanced levels of on-campus care at a predictable cost that’s virtually the same as your independent living monthly fee.
All-inclusive lifestyle with an array of premier services and amenities.
Financial Assessment
Try our user-friendly retirement cost-calculator to discover which residential options best fit your budget, lifestyle and financial plans.
Find Your Financial Fit
Frequently Asked Questions
LifeCare® isn’t a luxury for only a select few. Consider this: Research says 70% of people over 65 will need long-term care. Assisted living costs in Cedar Rapids, IA, average more than $5,000/month. Long-term care for daily needs, or care for recovery after illness, injury or surgery averages $7,500/month. And suppose you live somewhere with typical market rates. In that case, you will spend thousands of dollars more monthly, plus what you currently spend on living expenses such as home maintenance, insurance premiums, property taxes, utilities, entertainment, meals and fitness memberships. A LifeCare plan at Cottage Grove Place makes solid financial sense because it consolidates or eliminates those monthly expenses and keeps costs stable, allowing you to budget for an unpredictable future more easily. And if you or a loved one ever needs long-term care, you could experience even more significant benefits.
Your long-term care insurance policy will likely work with LifeCare and pay the earned benefits directly to you. You may be eligible to receive benefits from that policy if you ever need assisted living or skilled nursing care in our retirement community. Your insurance carrier or agent can answer individual policy questions and provide the best guidance.
Cottage Grove Place residents don’t pay real estate taxes. Because we’re a LifeCare community, a portion of your entrance and monthly fees may be tax-deductible as a prepaid medical expense. We recommend discussing your situation and potential financial benefits with your tax advisor.
We’d love to hear from you. Connect with our expert team and we’ll be happy to assist any way we can.