Prior to becoming a resident of Prairie Landing, you will have the opportunity to select a residency agreement with the financial plan that best suits your situation and preferences. The following information is provided to assist you in better understanding the options available to you.
Prairie Landing offers two major types of financial plans with their residency agreements: the Declining Refund Option or the Return of Capital Option.
Continuing Care Plan
Residents who enter Prairie Landing under a continuing care residency agreement pay an initial (one time only) entrance fee and a monthly service fee throughout their residency. All continuing care agreements provide the following:
- Priority access to on-site health care services, should the need arise;
- Flexible dollars to use for health care or supportive services;
- Access to all the services and amenities available at the Towne House;
- The opportunity to apply for charitable care if your financial resources are exhausted through no fault of your own;
- A medical tax deduction (calculated annually) for a portion of entrance fees and monthly services fees.
The terms and benefits of the various continuing care residency agreements are the same with the exception of the fees charged and the refund policies. The monthly service fee is the same for both the Declining Refund and Return of Capital plans.
Declining Refund Option
With this option, should you move permanently from Prairie Landing, the potential refund is based on 90% of the entrance fee and declines each month of residency until it is fully exhausted at the end of 48 months, as per the terms of the residency agreement.
Return of Capital Option
Under this option, if you should move permanently from Prairie Landing at any time, up to 80% of the entrance fee would be refunded to you or your estate as per the terms of the residency agreement.
Is Prairie Landing a good financial fit for you?
The results from this tool are intended for informational purposes only and are not to be relied upon as a professional opinion.
Please contact us at 260-444-5112 to see if you qualify.