Financial Options
Prior to becoming a resident of The Towne House, 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. The Towne House offers two major types of financial plans with their residency agreements: continuing care and monthly rental plans.
Monthly Rental Plan
Residents who enter The Towne House with a rental residency agreement pay no entrance fee. All monthly rental plans include the following:
- Priority access to health care services should the need arise;
- Access to all the services and amenities available at The Towne House; and
- A medical tax deduction (calculated annually) for a portion of the monthly service fees.
For more information, please call The Towne House marketing department at 260-483-3116 or email Amanda Palace at apalace@townehouse.org. They will be pleased to sit down with you to review the available options in more detail, including specific pricing for The Towne House home of your choice.
Continuing Care Plan
Residents who enter The Towne House 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;
- Sixty free days in the Health and Rehabilitation Center (per contract);
- Access to all the services and amenities available at The Towne House;
- Lower monthly service fee than the fees required for rental plans;
- The opportunity to apply for charitable care if your financial resources are exhausted through no fault of your own; and
- 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 The Towne House, 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 The Towne House 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.