What do you imagine your retirement looking like? Do you picture yourself struggling with yardwork and maintaining your house as you age, or do you see yourself relaxing at home, enjoying evenings out with friends and traveling the world with your significant other? The answer is probably the latter!
This future is within your reach, especially if you start investigating your options early enough and have a financial plan to make it happen. At Fellowship Village, a premier Life Plan Community, there are a variety of financial options to choose from to help you join the Fellowship family and achieve the retirement life you’ve dreamed of.
The Financial Value of a Life Plan Community
A life plan community – also known as a continuing care retirement community (CCRC) – provides residents with a wide range of residential and healthcare services, including Independent Living, Assisted Living, Memory Care, Skilled Nursing and medical, wellness and specialty services, all available on one campus. A life plan community gives you everything you need all in one place, minimizing your reason to have to move again, even if your needs should change.
In addition to having access to senior care if and when you need it, you’ll also be able to enjoy all the additional services and amenities Fellowship Village has to offer. These include food delivery, the new Wilson’s Tapas Bar and Lounge and many other features in the last year to help residents live as fully as possible during and beyond the pandemic.
“All of these decisions that we’ve made over the last nine months really provide value when gives in to the value of moving into a life plan community,” Nick Bottaro, Vice President of Sales and Marketing explained. “First of all, you get a meal included every day in your monthly service fee, so you’re not putting out of pocket money towards lunch or dinner, and there’s just a lot of social activities going on that they wouldn’t have in their home.”
From the Fellowship Cultural Arts Center and five-star on-campus dining to our fitness center and indoor heated pool, residents can’t beat the financial value and increased wellness offered at Fellowship Village.
How to Pay for Life Plan Community Services and Amenities
At Fellowship Village, it isn’t a one-size-fits-all sort of program. The Fellowship team works to cater the costs and services to your specific needs, and this process starts with your application.
You’ll complete a financial application where our team will evaluate your monthly income, including your home value and your 401k (stocks, investments, etc.). You will also complete a medical evaluation to ensure there isn’t any underlying health conditions that would require you to move out of independent living a couple years after moving in.
Once all this is completed, we’ll help you determine what contract is best for your financial situation.
“We have many residents that will come in with their financial advisors, estate planners or powers of attorney to assist them with this financial decision,” Nick explained. “We recommend and welcome them bringing their family and financial planner into account during this process.”
We offer two contracts to Fellowship Village residents:
- The Traditional Life Care Contract– Residents who buy in to this contract pay an entrance fee that is used as insurance to cover healthcare costs that may be needed in the future.
- The 90% Refundable Contract – This contract puts residents in charge of their own money. This is a fee for service contract, where if you need to leave one service line for another, your money goes to pay for the healthcare you now need.
Of course, we realize that not everyone wants to immediately move to a life plan community. In many cases, people want to stay in their homes for as long as possible. This is where our home care and freedom plans can help.
Home Care Services
If you are unable to move into independent living but don’t want to move to an assisted living community, you can use your savings to pay for home care. We have a full team of nurses and caregivers who can either provide you with 24-hour live-in care or a few hours of daily assistance each day, depending on your level of need.
Fellowship Freedom Plans
Our Fellowship Freedom Plans are unique to Fellowship Senior Living, serving as a long-term care membership program for residents throughout the greater community. Fellowship Freedom Plans gives you the ability to stay in your home, while still enjoying all the services and amenities of a Fellowship Village resident.
Through your initial joining membership fee and monthly fee, you’ll be able to receive the same assisted living services without actually moving into our community. You’ll also be able to come on-campus to enjoy all the community features whenever you want.
Members of our Gold plan have the option to consider moving to our life plan community, Fellowship Village, in the future. If at some point, the member would like to consider living on campus at Fellowship Village, their paid membership fee is eligible to be credited towards the entrance fee for an independent living home on campus as long as they have not received any care services from the program.
Fellowship Senior Living offers the fulfillment and financial value you want in retirement. All it takes is starting the conversation early, so you can find what works best for your interests and health needs.
“No matter what your plans are for your senior years, Fellowship has something to offer everyone,” Nick said.
Become a Part of the Vibrant Life Plan Community at Fellowship Senior Living
At our Fellowship Village Life Plan Community in Basking Ridge, NJ, you’ll experience a rich and vibrant lifestyle on our scenic, 72-acre wooded campus. As a resident, you’ll find everything from senior healthcare services to educational and wellness activities.
Contact us today at 908-580-3840 to learn more about our financial options and how you can make Fellowship Village your new home. We look forward to speaking with you!