And, of course, the answers.

What is Continuing Care at Home?

Continuing Care at Home, or Community-Based Continuing Care (CBCC) is an innovative program that integrates asset protection and care coordination to allow older adults to stay at home while they age and access needed services in their homes. Living well is emphasized with a proactive approach to social, educational and engaging programming being made available to members in addition to regularly scheduled contact with the personal care coordinator. Continuing Care at Home is a long-term care option available for healthy and independent adults who wish to remain in their homes as they age.

Who Should Consider Lakewood at Home?

Membership in Lakewood at Home is available to individuals aged 60 and over residing in the Richmond, VA area who are currently healthy and independent and who wish to age in place.

How is this different from long-term care insurance?

With Lakewood At Home, you have access to a Care Coordinator the day you become a member of our program. Insurance is mainly used to offset a portion of your financial exposure if you need future care, and it is not responsible for managing or providing services. We not only cover the cost of care, but we manage and coordinate services for each of our members as soon as they are needed. Even with insurance, you may still be required to cover a large portion of out of pocket costs if your care needs become extensive. In addition, the requirements to be eligible for long-term care insurance benefits can be complicated and restrictive. Generally, with long-term care insurance, you must experience multiple deficiencies with your activities of daily living before you are eligible to receive any benefits. Our program allows you to access services as soon as you have difficulty with one activity of daily living.

Won’t Medicare, Medicaid and/or my supplemental insurance pay for these services when I need them?

Medicare and/or supplemental insurance may cover some of the initial costs when it is an extension of a hospital stay. A major misconception regarding long-term care, however, is that traditional health insurance will cover ongoing expenses. In reality, when an individual is in need of custodial long-term care, most of the costs are paid for privately and are not covered by Medicare or supplemental insurance. Medicaid would only become available when a person has reduced their financial assets down to $2,000 or less.

Can I use my long-term care insurance to defray the costs of this program?

Yes. We offer plan options that blend with your existing long-term care insurance policy.

Is the pricing for one person or two?

The Membership Fee is for each person who joins Lakewood At Home. We offer a 10% discount on the membership fee for individuals who live in the same home and join the program together. Each member is entitled to his or her own separate care and service, which is why the pricing is per person even if they are joining as a couple.

Will the monthly fees ever increase?

As a not-for-profit organization, the monthly fees can increase on an annual basis only when they are approved by the state. They will not increase because you are receiving homecare or facility-based services. Realistically you will see increases over time, but they are necessary to ensure we are able to provide services in the future.

Will the benefit amounts increase?

Yes. As a member of Lakewood At Home, you are guaranteed services, including assisted living and nursing care, no matter what inflation may be in years to come. The maximum daily benefit amount is set to be equivalent to the cost of a private nursing home room at Lakewood and will increase as the cost at Lakewood increases.

Is any portion of the membership or monthly fees tax deductible?

The fees for Lakewood at Home can be used as a tax-deductible prepaid medical expense. We recommend you consult with your own accountant or financial advisor regarding tax and financial matters.

Do I pay the monthly fees before I need services?

Yes, you do. You begin paying your monthly fees the month that you become a member, and you continue to make those monthly payments as long as you remain in our program. You are still required to pay an ongoing monthly fee whether you are receiving benefits or not. As a member of Lakewood At Home, you will be able to protect your assets from being depleted if you need future long-term care. If you need care, your monthly fees will be much more manageable than if you had to pay for those services at full cost. This allows you to control your budget with known monthly costs up front rather than having varying expenses as you require long-term care.

What if I change my mind and want to move into Lakewood as an independent resident down the road?

Should you decide to become an independent living resident at Lakewood, we offer bridge options to transition smoothly from being a Lakewood at Home member to a Lakewood resident.

How do I join the program?

To join Lakewood At Home you must complete an application that includes a confidential financial statement. The application includes a medical release form authorizing your physicians to release your medical records for the past five years to us. Our Medical Director will review your medical records. Then our Care Coordinator will visit you to complete the in-home functional and safety assessment.
Call us today at (833) 431-5639 to learn more.