PLAN WELL, LIVE BETTER
Find confidence and peace of mind
The most liberating thing about a well-made plan is that you stop thinking about it. At The Providence Senior Living, our Life Plan is designed to put your financial future on steady ground, so that the life in front of you can be lived fully, freely and on your own terms.
At The Providence, confidence and comfort are the plan.
A plan suited to your lifestyle
Choosing The Providence means choosing a life thoughtfully planned for. Our Life Plan options are the foundation of that, each one providing priority access to our full continuum of care, so that as your needs evolve, exceptional support is already in place and already yours.
Whether your priority is protecting assets, keeping costs predictable or preserving flexibility for whatever comes next, our advisors will help you find the agreement that fits the life you have built and the future you are planning for.
Options designed around your priorities
The Providence offers a Type B Life Plan option, providing residents with comprehensive continuing care that includes housing, healthcare, and supportive services.
Type B
The Modified Life Plan
A more accessible entrance fee with a 10% preferred rate on any additional care services you may require in the future. Refundable options of 50% or 80% are available.
Type B is well-suited for those who:
- Prefer a lower initial investment
- Hold existing long-term care insurance
- Want a balance between financial flexibility and future care access
How a Life Plan at The Providence compares
Choosing the right senior living option is about more than today. It is about how confidently you can plan for tomorrow. The Providence Life Plan model is designed for long-term stability, meaningful living and peace of mind, and is distinct from more transactional alternatives.
| Feature | THE PROVIDENCE | FEE-FOR-SERVICE | RENTAL |
|---|---|---|---|
| MULTIPLE LEVELS OF CARE ON ONE CAMPUS | Yes | Available, may vary | Typically not available |
| PRIORITY ACCESS TO CARE | Guaranteed | Limited | No priority access |
| PREDICTABLE HEALTHCARE COSTS | Yes | Increases with care needs | Fully market-based |
| MONTHLY FEE STABILITY | More stable and predictable | Increases with care usage | Subject to market increases |
| TAX ADVANTAGES | Potential medical deductions | Limited or none | Not applicable |
| RETURN-OF-CAPITAL OPTIONS | Available on select plans | Limited | Not available |
| MISSION-DRIVEN, NOT-FOR-PROFIT | Yes | Varies | Typically for-profit |
| AGING IN PLACE | Designed for lifelong living | May require relocation | Often requires moving offsite |
| LONG-TERM FINANCIAL CONFIDENCE | High | Moderate, variable | Low |
A financial benefit worth knowing about
As a Life Plan Community, The Providence may offer meaningful tax advantages that are worth discussing with your financial advisor. A portion of your entrance fee and monthly service fees may qualify as deductible medical expenses under Section 213(d) of the Internal Revenue Code.
ENTRANCE FEE DEDUCTION ON AN IRA WITHDRAWAL:
If you fund your entrance fee through a Traditional IRA withdrawal, you may qualify for a one-time medical expense deduction that can help offset the taxable impact of the distribution.
ENTRANCE FEE DEDUCTION TO OFFSET A ROTH IRA CONVERSION:
If your entrance fee is paid as part of a Roth IRA conversion, you may be able to offset the taxable income generated, supporting both near-term tax efficiency and longer-term estate planning.
ONGOING DEDUCTIONS ON MONTHLY SERVICE FEES:
If your entrance fee qualifies for a deduction, a corresponding portion of your monthly service fees may also be deductible for each year of residency.
To illustrate the potential value: based on a monthly service fee of $5,500 and a 26.05% deduction rate for the 2026 tax year, the estimated annual deductible amount would be approximately $17,193.
The Providence does not provide tax, financial or legal advice. We encourage you to share this information with your advisor and are pleased to provide documentation to support your planning process.
Let us help you find the right fit
Thoughtful planning is one of the most generous things you can do for yourself and the people who love you. Our team is here to walk you through every agreement option, answer every question and help you find the path that best fits the life you have built and the future you are envisioning.
We invite you to a private consultation at your convenience.