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One of the most common questions surrounding Life Plan Communities is about the entrance fees. To better understand the cost of independent senior living, it helps to view the entrance fee model as an investment in your financial stability. The initial payment goes to secure your future, guaranteeing that you will be entitled to the full range of care services for life, if and when you should require them. Better yet, depending on the agreement type you choose, at the conclusion of your contract, up to 90% of your entrance fee will be returned to you or to your estate. If you prefer to pay a lower entrance fee and retain less of your estate, Revel Creek offers contract options with lower refundable terms starting at $163,000 or $95,000 at Wyndham.
Effectively, by locking in your future costs under the entrance fee at the time you move in, you will receive priority access to Assisted Living, Memory Care and/or Skilled Nursing Care any time, and for as long as you need it, for the duration of your residency.
Beyond the money you stand to save by selecting a Life Plan Community, which is substantial, the real value of this model is that it offers you, the resident, the ultimate degree of flexibility, autonomy and self-determination over your healthcare options.
What About Monthly Fees?
The monthly fee, which starts at $3,300 for Wyndham and $3,995 for Revel Creek, varies based on the size of your Independent Living residence and whether you are single or a couple, covers all of your regular living expenses. All of the following services are paid for under your monthly fees:
- Flexible dining credits
- Fitness room and exercise programs
- Social and activity programs
- Personalized housekeeping
- Gas, electric and water (cable, phone and Wifi available)
- Weekly linen/laundry service
- Scheduled transportation
- 24-hour security with personal response system
- Concierge service/valet parking