Residency contract options at Four Seasons.
At Four Seasons, you always have options to enjoy your retirement lifestyle the way you want to. This is also the case when it comes to your residency contract. You can select a plan that best suits your situation, preference and needs. The two primary types of residency plans we offer are a Rental plan and a Continuing Care plan.
Rental Plans — “Month to Month”
If you choose a rental agreement at Four Seasons, there will be no upfront entrance fee. However, the cost of the monthly service fee will be higher than those associated with Continuing Care plans. Those who choose rental agreements are also not eligible for other benefits tied to Continuing Care plans, such as the 60 free health center days or the opportunity to apply for charitable care if needed.
All monthly rental plans include:
- Access to all services and amenities available at Four Seasons—including priority access to health care services
- A medical tax deduction—calculated annually—for a portion of the monthly service charges
Continuing Care Plans
If you choose a Continuing Care plan when becoming a resident of Four Seasons there are two financial obligations, which include an initial, one-time entrance fee and a monthly service fee during the entire time you’re a resident. There are also two variations of Continuing Care plans. These are called Return of Capital and Traditional Declining Refund. The terms and benefits of these Continuing Care residency agreements are the same, with the exception of the fees charged and the refund policies. However, the monthly service fee is the same all both plans.
Return of Capital — 80% Refundable
Under this plan, if you should permanently move out of Four Seasons at any time, up to 80% of the entrance fee will be refunded to you or your estate, as per the terms of the residency agreement.
Traditional Declining Refund
With the Traditional Declining Refund plan, the potential refund is based on 90% of the initial entrance fee. This potential refund declines each month of residency until it is fully exhausted at the end of 48 months.
All Continuing Care plans provide:
- 60 days, free of charge, in the health center per contract, should the need arise
- Lower monthly service fees than those required for rental plans. This tends to result in notable long-term savings
- The opportunity to apply for charitable care if your financial resources are exhausted through no fault of your own
- The right to receive the services described in the residency agreement, including priority access to on-site health care services
- A medical tax deduction—calculated annually—for entrance fees, as well as a portion of the monthly service charges