What is Benevolent Care?
Updated: Apr 26
Benevolent Care is the discounting of fees for current residents who have exhausted their assets. It is generally only available to residents who appeared likely to be able to cover the full cost of their care at the time of application. Communities which offer Benevolent Care typically guarantee that residents can stay in the community if they outlive their assets, dependent on endowment funds.
Why is Benevolent Care important?
Many people put off moving into senior living for too long because they are frightened of outliving their savings and being forced to move again to a sub par facility in their most vulnerable years. The ability to “age in place” is a major selling point for senior living, and the prospect of eviction in the face of escalating care costs completely undermines that value. That is why at Retirement Atlas we think it is so important to look for communities which offer Benevolent Care if you are at all concerned about outliving your assets.
Is Benevolent Care a discount for potential residents with fewer means?
No. Benevolent care is not available as an upfront discount on pricing. It is generally only made available to residents who met financial qualifications at move in, but unexpectedly outlived their assets.
Where do the funds for Benevolent Care come from?
Typically, funds for Benevolent Care come from charitable contributions. The size of the endowment supporting Benevolent Care varies widely from community to community, and it is worth inquiring about the stability of the fund during the search process.