Entrance Fees
One of the most popular methods of financing independent retirement living is with a refundable entrance fee. Entrance fees are based on the size of the apartment and, to some extent, its location. There is no second person entrance fee at Glenmeadow. Glenmeadow offers you a choice of two types of entrance fees:
Declining Refund Plan
The amount you pay is reduced by one percent each month of residency for 100 months. For example, if you leave after five months, you will receive 95% of your entrance fee back. If you transfer to Assisted Living after 50 months of residency, you will receive 50% of the entrance fee back. If you pass away after 100 months of residency or more, there will be no refund to your estate.
In 2012, the Declining Refund Entrance Fees range from $112,450 - $326,560.
90% Refundable
The amount you pay is reduced by one percent for each month for the first ten months of residency. If you leave Glenmeadow, transfer to Assisted Living, or pass away after the first ten months of residency, you (or your estate) will receive 90% of your entrance fee back. If you leave during the first ten months, you will receive an amount equal to the total paid, less one percent for each month of occupancy. For example, if you leave after five months, you will receive 95% of your entrance fee back.
In 2012, the 90% Refundable Entrance Fees range from $173,000 - $502,400.
