The Cost of a Life Plan Community

Here at The Waterford, we believe your financial planning should be as clear and straightforward as your vision for the future. For that reason, we believe you deserve to know exactly what you’re paying for and why. That’s why we’ve broken down the costs associated with a move here below: to give you the confidence and clarity you’ll need to make an educated decision about whatever this next chapter holds for you.

The one-time entrance fee is your key to a future defined by security and sophistication. This up-front investment secures your beautifully appointed residence at The Waterford and, more importantly, guarantees your access to our full continuum of care at predictable rates for life. Many residents find that the proceeds from selling their previous home comfortably cover this fee. It is a thoughtful investment in your peace of mind, allowing you to live freely today, knowing that your long-term health needs are already addressed with elegance and foresight.

Your monthly fee simplifies life by consolidating numerous household expenses into one predictable payment. This fee covers the daily luxuries and conveniences of life at The Waterford, including the meticulous upkeep of our lush grounds, access to premier amenities, a calendar of curated social events, and gourmet dining experiences. It also liberates you from the burdens of homeownership, such as property taxes, utility bills, and unexpected maintenance. Most residents discover this fee is comparable to, or even less than, their previous monthly expenses, allowing for a seamless transition to a more carefree and elevated lifestyle.

Living in a Life Plan Community like The Waterford may offer notable financial benefits, including potential tax deductions. A portion of both your entrance fee and ongoing monthly fees may be deductible as a prepaid medical expense. While legal precedents have often been favorable for residents of communities like ours, tax laws are nuanced and can evolve. We encourage you to consult with your personal financial advisor to explore the specific tax advantages that may apply to your individual circumstances, ensuring you make the most of this intelligent financial decision.

Your existing long-term care insurance policy is a valuable asset that works in concert with the benefits of living at The Waterford. In most cases, your policy will provide benefits directly to you, the policyholder, which can be used to offset your monthly fees or other expenses should you need a higher level of care. Our team can help you review your specific policy to understand how its benefits can be integrated, adding another layer of financial security and confidence to your future.