Independent Living Entrance Fees
All Independent Living Woodland Pond residents are responsible for two types of fees: Entrance Fees and Monthly Service Fees.
The Monthly Service Fee is based upon the style of the residence and number of occupants. Included in all monthly service fees are a $300 dining allowance(per person), all utilities (except for telephone, internet and cable), housekeeping, linen service, interior and exterior maintenance, transportation, emergency response system, 24-hour security, personal storage units, wellness programs and all social, intellectual, physical and cultural activities. Monthly Service fees range from $3,389 – $6,822.
The Entrance Fee is a one-time, upfront cost for the residence and contract which guarantee lifetime residency and access to continuing care if your needs change in the future. The cost depends on the style of the residence and number of occupants, as well as the selected refund plan. Woodland Pond offers three entrance fee refund plans. All refunds are paid upon termination of contract (either by move out or death).
Traditional Entrance Fee: This plan offers a reduced entrance fee with a declining refund, and no refund due after 48 months of residency. *Ranging from $262,800 – $425,075
50% Refundable Entrance Fee: This plan offers a 50% refund on the entrance fee paid.*Ranging from $307,340 – $530,520
75% Refundable Entrance Fee: This plan offers a 75% refund on the entrance fee paid.*Ranging from $399,100 – $668,300
The Financial Value of Lifecare
Woodland Pond also offers Lifecare. Lifecare is care for life. It’s considered the gold standard senior living health care contract. Lifecare assures you that if you ever need long-term care, you’ll receive these on-site services at about the same monthly fee you pay in independent living. You’ll always know where to find the best care, who will provide it, and how much it will cost. Lifecare is an additional onetime fee that guarantees unlimited, on-site long-term health care services including private enriched housing (assisted living), memory care suites and skilled nursing care with private accommodations for as long as needed, while maintaining your current monthly service fee (with just a slight increase for an extra two meals per day).
The lifecare rate for one person is $134,531 and the couple rate is $199,106.
Are these fees refundable?
Woodland Pond offers options for a 75% refundable Entrance Fee, and a 50% refundable Entrance Fee, in which 75% or 50% of the one-time Entrance Fee (based on the plan selected) will be refunded to a designee of your choice.
What does the Monthly Fee cover?
- A monthly credit for restaurant-style meals
- All utilities except for telephone, cable and internet
- Biweekly housekeeping services, weekly linen services
- Comprehensive upkeep/maintenance inside and outside your home
- Scheduled bus transportation for medical appointments, shopping and activities
- Overnight security personnel
- Access to the assistance of an assigned manager on duty 24/7
- Monitored personal emergency response system 24/7
- Daily concierge services
- Access to all recreational, educational and wellness programs and amenities
- Your equivalent of local property taxes
- With Lifecare Advantage: priority access to supported living in assisted living, with or without memory support, and skilled nursing
- Access to the highest-rated inpatient and outpatient physical, occupational, and speech therapy program in the Hudson Valley
- An amount that represents advance payment for the future cost of your care, which may be tax-deductible for you