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LifeCare vs Long Term Care Insurance

Anyone have thoughts on buying into a LifeCare community instead of buying Long Term Care insurance?


LifeCare (also known as Type A) seems to be an industry buzzword for continuing care communities where you pay a higher monthly service charge for independent living in exchange for guaranteed rates for assisted living and skilled nursing (basically just inflation plus additional meals). The obvious risks are that it’s not backed by an insurance company, and may not be backed by state insurance regulators, as well as locking yourself into a particular assisted living facility and nursing home. I see both non-profit and for-profit communities offering LifeCare.

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