Residents are responsible for two different types of fees when they make Woodland Pond their home: Entrance Fees and Monthly Service Fees. Woodland Pond also offers Lifecare, which provides residents with lifetime benefits and a predictable monthly service fee.
The Entrance Fee is a one-time, upfront cost for the residence and contract which guarantee lifetime residency and access to continuing care. The amount of the entrance fee depends on the style of the residence and the number of occupants, as well as the selected refund plan. Woodland Pond offers residents three refund plans.
- 90% Refundable Entrance Fee: This plan offers a 90% refund on the entrance fee paid. Refunds are paid per the terms of the Resident and Care Agreement. 90% refundable entrance fees range from $380,100-$612,200.
- 50% Refundable Entrance Fee: This plan offers a 50% refund on the entrance fee paid. The refund declines by a 4% administrative fee, and 2% for each month of residency. A 50% refund is due after 24 months of residency. Refunds are paid per the terms of the Resident and Care Agreement. 50% refundable entrance fees range from $266,100-$428,500.
- Traditional Entrance Fee: This plan offers a reduced entrance fee with a declining refund over a 47-month period. The refund declines by a 4% administrative fee, and 2% for each month of residency. No refund is due after 47 months of residency. Refunds are paid per the terms of the Resident and Care Agreement. Traditional entrance fees range from $199,100-$318,200.
Monthly Service Fee
The Monthly Service Fee is also based upon the style of the residence and the number of occupants. Included in all monthly service fees are a $300 dining allowance (per person), all utilities (except for telephone, internet and cable), housekeeping, linen service, interior and exterior maintenance, transportation, emergency response system, 24-hour security, personal storage units, wellness programs and all social, intellectual, physical and cultural activities.
Monthly service fees range from $3,170- $6,381.
Woodland Pond also offers Lifecare. Lifecare is an additional onetime fee that guarantees unlimited, on-site long-term health care services, including private enriched housing (assisted living), memory care suites and skilled nursing care with private accommodations for as long as needed, while maintaining your current monthly service fee (with just a slight increase for an extra two meals per day).