Independent Living: Pricing
Independent living offered at Waterford Place is private pay (Medicare and Medicaid are not accepted). The financial model used is called a Life Lease which secure, yet flexible, day-to-day lease with no long-term commitment or home ownership responsibilities.
What is a Life Lease?
A Life Lease is comprised of an entrance fee and a monthly rate. The entrance fee is due at the start of the lease and typically comes from the sale of a home. The entrance fee is partially refundable when you move out of your home (independent living) at Waterford Place at any time, for any reason, or is refundable to your estate upon death. There are four different entrance fee options with varying refunds so you can choose the option that best suits your finances.
The second part of the Life Lease is the bundled monthly rate. This is a single, bundled rate that covers expenses one would normally encounter in a private home. It includes but is not limited to, utilities, home maintenance, cable TV, high-speed internet and local phone. The single monthly rate means only one bill to deal with each month.
Advantages of a Life Lease
- Consistent monthly expenses
- Freedom from home ownership responsibilities
- Priority access to all the levels of healthcare provided by Sunset Retirement Communities & Services.
You are able to move from your home at Waterford Place without worrying about the re-sale and restoration of your home and will have the refundable portion of your entrance fee within 30 days, guaranteed!
Life Leases are unique to senior living communities and are legally binding contracts which are regulated by the State of Michigan. Your Admissions Counselor will discuss specific prices during your visit of Waterford Place.
Assisted Living: Pricing
Assisted living offered at Waterford Place is private pay (Medicare and Medicaid are not accepted). It is a monthly fee determined by the level of care an individual needs and the size of the home he/she chooses.
Rehab accepts many insurances but please call our team in the Central Intake Office so they can best explain pricing/cost and share which insurances are accepted. 616.531.4999.