Wood River Village FAQ: Retirement Communities- Senior Living
Here are some of the most
common questions we hear:
What is LifeCare?
What does my entrance
fee cover?
What does my monthly
fee cover?
Does my fee
increase as my care increases?
What
happens if I run out of money?
What about
my long term care insurance policy?
What is
LifeCare?
LifeCare is the only way to ensure your care for the rest of your life-that is the assurance you have when you move into our retirement community, Wood River Village. All of our residents come into our community as independent residents, but as they age, we are able to provide them with support right in the comfort of their own apartment. If the time comes when our residents need temporary or permanent admission into our personal care or skilled nursing facilities, we can accommodate them right here under one roof.
Return to Top
What does my entrance fee
cover?
When moving in, the resident pays an entrance fee. This fee depends on the size of the apartment, the location of the apartment, the number of persons residing in the apartment, and the plan chosen regarding refundability. The entrance fee provides for the resident’s assisted living care for the rest of his or her life.
Return to Top
What does my monthly fee
cover?
The monthly fee depends on the same factors as the entrance fee; size of apartment, location of apartment, number of people residing in the apartment and the plan chosen related to refundability. This fee also covers everything in the apartment except phone and internet connection if desired. Our long list of retirement community services and amenities are also included in this fee. The entrance fee and the monthly service fee together provide for services at each level of living, without a change in monthly service fee when receiving more care.
Return to Top
Does my fee
increase as my care increases?
NO! As long as you are a LifeCare resident, your fee does not increase as your assisted living care increases. This means you are paying only the amount for personal care or skilled nursing as you are paying for independent living. All Lifecare communities are regulated by the Pennsylvania Insurance Department. Annual increases are based on the cost of living and not level of care. If you would like to see the increases for the past five years you can request a disclosure statement.
Return to Top
What happens if I run out
of money?
One of the best things about the Wood River Village retirement community is that once you are a LifeCare resident, you are a resident for life. If you outlive your resources, we will provide financial support. A Fellowship Fund was set up for residents for this very reason.
Return to Top
What about my
long term care insurance policy?
Wood River Village’s assisted living retirement community; LifeCare program mirrors that of a long term care policy. For this reason, many people opt to drop their long term care policy when they enter our community. We encourage you to contact your agent for answers to specific questions about your policy, because each policy is unique.
I am a resident of Philadelphia can I become a resident of Wood River Village’s senior living retirement community?
Yes, you can! We have residents from throughout the Bucks County and Philadelphia area in Pennsylvania. So anyone who is interested in our retirement community can become a member, regardless of the city of current residence.
Return to Top |
