Well·Spring’s Financial Contracts Offered Through LifeCare
When you live at Well·Spring, A Life Plan Community, you and your family can rest peacefully knowing that your health needs receive the proper attention through our LifeCare financial contracts in Greensboro, NC. Living at Well·Spring gives you the freedom to design the perfect lifestyle for your retirement and the assurance that comes with our LifeCare plans.
What Does LifeCare Mean to Our Residents?
Upon moving to our life plan community, you pay an entrance fee and can choose to enter either a Full LifeCare or Modified LifeCare financial agreement. Under both financial contracts, you are able to remain at Well·Spring no matter how your health needs change. Once you are a resident of our Greensboro Life Plan Community, you are here to stay, as we offer our accommodations at every level.
Full LifeCare means that if your health requires you to move to any part of our Health Center, which includes the John W. Red, Jr. Center for Assisted Living or Sycamore Square Skilled Care, you can do so at no added cost other than the amount needed for additional meals provided and care-related supplies. Once you’ve paid your entrance fee, your monthly service fee for residential living will not increase to the higher daily fee that would otherwise be required by a move to the Health Center.
The Modified LifeCare financial contract offers lower entrance fees and monthly service fees. It is specifically designed for residents who have already purchased long-term care insurance or prefer to protect their future with other assets. If a resident who has Modified LifeCare needs to relocate to the Health Center, they only pay the daily fee for the necessary level of care, less a discount determined by Well·Spring at the time of service.
In addition, both agreements give spouses and co-residents the emotional security of knowing they can be close by if one of them requires special care, while giving the adult children the assurance that their parents have considered every healthcare option in planning for the future.
For residents entering the community under the Full LifeCare or Modified LifeCare financial contracts, Well·Spring offers two refund options:
- A one-year declining refund option with 90% of the entrance fee refundable during the first 60 days of residency, less 4% per month during the remaining 10 months of refundability
- A 92-month declining refund option with 90% of the entrance fee refundable during the first 60 days of residency, less 1% per month during the remaining 90 months of refundability
For residents who enter Well·Spring under the Full LifeCare contract, there is an additional refund option:
- A 90% option where 90% of the entrance fee is refunded regardless of the length of residency. Entrance fees increase with the length of the refund period selected. While the 90% option carries the greatest increase, residents who choose this option do so because of the extent it preserves and protects their estate.
Join Greensboro’s Only LifeCare Retirement Community
The staff at Well·Spring is committed to making sure that our residents receive the care that they need without compromising our high standards. If you have questions about our Greensboro LifeCare and financial contracts, please contact us today at (336) 545-5468.
Well·Spring, A Life Plan Community is proud to be a Life Plan Community in Greensboro, NC and to offer LifeCare to our residents.