Financial Options

Funding Options

At Villa Natura we are on a fee-for-service basis: you pay for only the extra help you need, only when you need it. To fit your financial objectives, we have an exceptional range of flexible funding options and pricing models.

We understand the challenges presented by the current economic environment, especially for those who are otherwise ready for senior or retirement living, but are uncertain how best to afford it. Villa Natura will help you make the move to the retirement lifestyle you want or need with generous programs and third-party financial options that provide the financial flexibility you need, to afford a great lifestyle, or to simplify your payment choices.

Life Insurance Policy

If you are looking for ways to finance a senior living arrangement, then using a life insurance policy to help pay for your care may be a very good option.

The Life Care Assurance Benefit Program allows a senior to use a life insurance policy to help pay for long-term care and housing by converting a portion of the policy while preserving a death benefit, into a long-term care benefit that is paid directly to Villa Natura Community.

This option can act as a "funding bridge" allowing seniors to move into our Community without delay. You may consider you can get a far greater value from a life insurance policy by converting it, then let the policy lapse or by surrendering it back the insurance company.

Many seniors and their families have found the option of the Life Care Assurance Benefit extremely helpful as an alternative source of funding to the hasty sale of a home, securities, or other more dearly held assets during a time of transition into a senior living arrangement.

Here are some of the other benefits to a Life Care Assurance Benefit:

• There is a simple and fast approval process (30 days or less)
• There is no age or policy size minimum.
• There is no premium payments or a wait.
• All types of life insurance qualify.
• Fixed payments are made directly to the care facility.
• The first three months of care are paid in advance.
• It preserves your partial death benefit.
• The benefit can stop and start or be adjusted to match your changing needs.
• Skilled nursing, assisted living, home health and hospice care all qualify as long-term care.

Availability and terms may vary by state. For more information about this financial solution, inquire at your senior living community or call the Life Care Funding Group at 1-888-670-7773. Or please visit http://www.lifecarefunding.com/

Line Of Credit Financial Services

Often, seniors don't have a lot of extra income or savings to pay for long-term care but do have financial resources tied up in their home ownership.

Before you sell a home that may need work, you may want to consider a senior living line of credit. This product offers a way to secure a line of credit to help make payments for senior living. This financial option is especially valuable if the individual, needs time to sell a home or other assets in order to pay for care. It can also be helpful if they are waiting for federal benefits to start, such as Veteran's assistance.

These lines of credit are accepted at thousands of communities across the United States. They allow seniors to borrow only what is needed on a monthly basis to help finance their senior housing and care needs. Like any loan, a senior living line of credit is subject to credit approval.

One company that provides lines of credits specifically for senior living expenses is Elderlife Financial Services. Families who use Elderlife are assigned a Family Advisor who is an expert in both banking and retirement living. Your Family Advisor will assist you through the application, approval, and loan disbursement to your senior community each month.

The Senior Living Line of Credit can be used to:

• Pay for rent and care while waiting for a home to sell
• Pay for rent and care while waiting for Veteran or other benefits
• Finance your base fee
• Supplement monthly fees

The benefits of this line of credit often include:

• Low monthly interest-only payments
• The ability to move to a senior living community while you work on selling your home
• Up to six people on the line of credit; and
• Convenient direct payment to the senior living community

If you would like to learn more about Elderlife Financial Services, call 1-888-228-4500, or call one of our Villa Natura representatives.

Veteran Benefits

1. Surviving Spouse of a Veteran.

You may qualify for assistance to help cover the costs of assisted living.
If you are a United States veteran or surviving spouse of a veteran, you may qualify for the Aid & Attendance Program and receive monthly benefits to help cover the costs of assisted living care. This benefit is not dependent upon service-related injuries for compensation. It allows for Veterans and surviving spouses who require the regular attendance of another person to assist in day-to-day activities to receive additional monetary compensation and care in a qualified assisted living facility. Additionally this is a tax-free benefit that most veterans needing assistance qualify for.

2. Aid & Attendance Benefit.

Aid & Attendance is a Federal benefit that was added onto a need-based pension offered through 'The Department of Veteran Affairs'. It provides benefits for veterans and surviving spouses who need assistance with their activities of daily living and meet specific requirements. Care provided in an assisting living facility qualifies.

For 2013 the maximum annual benefit for the Aid & Attendance level of pension is:

• Veteran with no Spouse or dependent children: $20,794*
• A married Veteran where the Veteran requires care: $24,651*
• Surviving Spouse of a Veteran: $13,361*

The Veteran's Administration offers pension benefits under two circumstances.

1. If the Veteran: received discharge from service under any condition other than dishonorable, served at least 90 days of active military service 1 day of which was during a war-time period, AND he /she or Surviving Spouse is age 65 or older.

2. The Veteran is permanently and totally-disabled, AND total countable family income is below an annual limit set by law.

Periods of wartime are:
World War I: 5/9/1916-11/11/1918
World War II: 12/07/1941-12/31/1946
Korean Conflict: 6/27/1950-1/31/1955
Vietnam Era: 8/5/1964-5/7/1975
Persian Gulf: 8/20/1990-present

*Figures are from the Veteran's Administration as of 12/01/12. Please contact the VA to verify current Aid and Attendance monthly payments.

Housing Price Recovery Chart

With the decline of the real estate market, it may take many years for your home to return to its full market value of 2008, depending upon the severity of the decline in your area. The Housing Price Recovery Chart below projects the time required for real estate prices to get back in value based upon an average appreciation of 5% per year.

Housing Price Recovery Chart (PDF)

A Villa Natura Community representative can provide additional information about these financial options.

Medicare Coverage

Medicare covers services (like lab tests, surgeries, and doctor visits) and supplies (like wheelchairs and walkers) considered medically necessary to treat a disease or condition. If you're in a Medicare Advantage Plan or other Medicare plan, you may have different rules, but your plan must give you at least the same coverage as Original Medicare. Some services may only be covered in certain settings or for patients with certain conditions.

Part A covers:

• Hospital care
• Skilled nursing facility care
• Nursing home care (as long as custodial care isn't the only care you need)
• Hospice
• Home health services

Talk to your doctor or other health care provider about why you need certain services or supplies, and ask if Medicare will cover them. If you need something that's usually covered and your provider thinks that Medicare won't cover it in your situation, you'll have to read and sign a notice saying that you may have to pay for the item, service, or supply.

Part B covers 2 types of services;

• Medically necessary services: Services or supplies that are needed to diagnose or treat your medical condition and that meet accepted standards of medical practice.
• Preventive services: Health care to prevent illness (like the flu) or detect it at an early stage, when treatment is most likely to work best.

You pay nothing for most preventive services if you get the services from a health care provider who accepts assignment.

Medicare coverage is based on 3 main factors;

1. Federal and state laws.
2. National coverage decisions made by Medicare about whether something is covered.
3. Local coverage decisions made by companies in each state that process claims for Medicare. These companies decide whether something is medically necessary and should be covered in their area.

A Villa Natura Community representative can provide additional information about this financial option.

This page is for general information purposes only and is not intended to be a substitute for financial, legal, tax, accounting or other professional advice. Villa Natura is not affiliated with, nor does it endorse, any of the aforementioned programs, organizations or companies. Villa Natura can provide no assurance that any information contained on this site or provided by any of the aforementioned programs, organizations or companies is accurate, complete, correct or fit for any particular purpose or person. We urge you to consult your financial, legal, tax, accounting, and/or other professional counselors for advice about what financial options are best for you.