Two Categories of CCRC Contracts
CCRC contracts offer more services than other types of senior living contracts. There are two types of CCRC contracts to secure long-term living accommodations, services, and health care for residents at Applewood Village: Life Care and Fee-For-Service. Both offer different advantages.
LIFE CARE FOR PEACE OF MIND
Applewood Village offers residents a Life Care or Type A contract—a guarantee of long-term care should you ever need it. It’s security for tomorrow so you can have peace of mind today. Entrance fees range from $124,181 to $449,286 with Monthly Fees from $3,756 to $8,184 for singles and an additional second person monthly service fee of $1,695.
FEE-FOR-SERVICE FOR FLEXIBILITY
Applewood Village also offers a Fee-For-Service or Type C contract that is more of a pay-as-you-go financial model. This contract allows for a lower entry fee and monthly service fee for independent living, with monthly costs increasing if healthcare services are needed. Entrance fees range from $124,181 to $763,786 with Monthly Fees from $2,625 to $8,184 for singles and an additional second person monthly service fee of $1,695.
Contract FAQs
Retiring without a plan for future long-term care expense isn’t uncommon. The fact is, more than two-thirds of seniors 65 or older will need to spend an average of three years in some type of long-term care — assisted living, skilled nursing or memory care – but most haven’t made a plan for financing that care. Even with long-term care insurance, the ever-rising cost can lead to financial hardship. Of course, making a decision at the time of need can be distressing for you, your significant other and your family members.
Applewood’s contract types allow for flexibility, predictability and affordability in retirement.
What is an entrance fee?
This is a one-time fee, with various refundability options to your estate if you leave the community. The entrance fee guarantees you a residence at the community and priority access to long-term care. The amount of the fee depends on the residence you choose, the number of occupants and choice of contract type and refundability.
What do monthly service fees cover?
Our community’s monthly service fee covers home maintenance, housekeeping services, most utilities, access to on-site amenities, a dining allowance, community programs, transportation, a personal emergency response system, special events and more.
For more information about Applewood Village, call (848) 233-3016 to schedule a visit or attend an event for future residents.