Understanding the Cost.

WHAT YOU PAY AND WHAT YOU GET.

What does the entrance fee cover?

In a Life Plan Community such as Generations at Shalom Park, you will typically be required to pay an entrance fee that guarantees your choice of  residence and enforces the terms of your contract agreement, ensuring you the full continuum of healthcare services for a discounted monthly fee for as long as you reside in the community. Depending on your specific agreement, the entrance fee may be largely or fully refundable, meaning that it will be returned to you or your successors when you leave or pass on. The size of your entrance fee can also serve to reduce the amount of your monthly fee going forward. Many Generations residents will fund the entrance fee with proceeds from the sale of their present home.

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What does the monthly fee cover?

The monthly fee pays for the cost of utilities, as well as all the services and amenities you will enjoy at Generations. From housekeeping and groundskeeping to your meal plan, recreational and educational programming, fitness and wellness activities and, most important, applied to the full continuum of healthcare services. In most cases, the fee compares favorably to the monthly expenses of living in your present home—especially when you factor in homeowners’ insurance, utility bills, property taxes, home and grounds maintenance—in short, all the headaches of homeownership.

Are there tax advantages to living at Generations?

While tax laws are constantly evolving and always subject to interpretation, current IRS guidelines allow residents of Life Plan Communities to deduct the portion of their fees that pertains to healthcare. Be sure to consult with your tax advisor for additional information.

What about my long-term care insurance?

Your long-term care policy will dovetail with your care as a resident of Generations and pay earned benefits directly to you as the policyholder in most instances. A Sales Counselor can help you better understand your policy. Team members at Generations are also trained to assist residents in managing their policies and assuring reimbursement of relevant expenditures.

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