Financial Information
Let’s talk money. And peace of mind.
Contracts. Fees. Agreements. Oh, my! If you’re like many older adults trying to understand the financial side of independent living, the process may seem a bit overwhelming. The good news is you don’t have to figure it out alone. We’ve been helping residents understand the different plans for nearly five decades. Now we’re ready to help you.
Read about our different agreement options, and jot down any questions you may have. Then give us a call at 614-568-0503 to get them all answered (even some you didn’t know you had) and we’ll talk through the best option for you.
Monthly Service Fees
Regardless of which type of contract you choose (Life Care, Life Choice or Rental), you will pay a monthly per-person fee based on your size and type of residence. Think of it as payment for all the monthly expenses you currently pay for your home or condo wrapped into a single predictable charge that includes:
- Maintenance and repairs for your residence
- One daily meal of your choice
- Twice monthly housekeeping
- Transportation
- All utilities, including internet, Wi-Fi and cable
- All community amenities, including the woodshop, art room, fitness center and more
Senior Living Entrance Fees
This one-time per-person fee is for Life Care and Life Choice agreements only. Like the monthly fee, the amount is based on the size and type of residence you choose.
Entrance fees paid are in addition to monthly fees. Together, they entitle you to lifetime residency with full Life Care benefits. Anyone paying this fee is entitled to a partial refund if they leave the community within a set number of years, with the refund amount getting smaller as the years go on.
Flexible Lifestyle Fees
If you love to travel and have a Life Care or Life Choice agreement, you’ll enjoy the following discounts as part of our Flexible Lifestyle Program:
- Single residents receive a discount equal to 25% of their monthly fee for the duration of the qualifying absence and discounted dining charges for the same time frame.
- Couples receive a discount equal to the second person’s monthly fee for the duration of the qualifying absence, as well as discounted dining charges for the same time frame.
- Discounts are credited for at least 90 consecutive days, with no maximum time frame required. Contact us to learn more.
Contracts
Westerwood offers several different contract options based on your needs and budget, including:
This option maximizes your control over future healthcare costs by giving you access to unlimited use of our assisted living, memory care or long-term care services throughout your lifetime—all for the same one-time entrance fee and monthly fee you pay as an independent living resident. A portion of your entrance fee in the year in which you pay it, as well as part of your ongoing monthly fee, are tax deductible. Please consult your accountant or tax advisor for more specifics about your deductions.
Our Life Choice agreement allows you to pay a lower entrance fee and receive a discount on future healthcare costs in addition to your regular independent living monthly fee. Each calendar year, you also receive up to 10 days in our Rehabilitation Center or short-term assisted living.
With no one-time entrance fee and slightly larger monthly fees, this agreement includes all the amenities as our Life Care and Life Choice agreements—but without the protection from the increasing costs of health-related care services. Rental contracts can be converted to Life Care or Life Choice contracts. Contact us to learn more.
Contact Us
Experience Westerwood’s invigorating approach to senior living. Contact us to discover how you can live your best life in a Life Plan Community that makes retirement fresh daily.
Enjoy the peace of mind that comes from knowing you’ll have access to a full continuum of care right here at Westerwood should you ever need it.
Our Flexible Lifestyle Program offers discounted rates for folks who like to travel often for extended periods but still want a home base.
We’ll keep your bright, beautiful home well-maintained. You focus on laughing, learning, playing, enjoying chef-inspired cuisine and maintaining your best life.
