Brittany Pointe Estates Pricing

A Continuing Care Retirement Community (CCRC) entrance fee is an upfront payment made by residents upon moving into the community. This fee is designed to in part prepay for future healthcare needs at current rates, mitigating the impact of future inflation. The entrance fee secures the resident's place within the community, acting as an investment in their future care. It helps subsidize the cost of higher levels of care such as assisted living or skilled nursing, should these become necessary.

Essentially, residents join the community while still fully independent, ready to enjoy its amenities. When a higher level of care is needed, such as assisted living, memory care or skilled nursing, it is provided on campus without a direct increase in their monthly fee. This arrangement allows residents to prepay for much of these services at today's rates, avoiding inflation and financial uncertainty.

The specific terms and coverage of the entrance fee vary depending on the contract chosen.

The services and amenities covered by the monthly fee include, but are not limited to:

• Utilities such as electric or natural gas, water, standard cable television, and wireless internet
• Taxes like property taxes
• Maintenance including repairs and replacement of equipment
• Maintenance including exterior cleaning, groundskeeping and lawn service, and snow removal
• Personal Services: Chef-prepared meals; recreation, fitness, aquatics areas and enrichment programs, 24-hour security; 24-hour access to resident nurses; medical alert system; annual apartment inspection and cleaning; scheduled local transportation; additional storage; educational seminars, classes, hobbies; and more.
• Brittany Pointe Estates also features theater and arts programs and a newly renovated modern bistro/café.

If you or your loved one struggle to afford the monthly fees for a Continuing Care Retirement Community (CCRC), there are potential solutions to explore. Downsizing to a smaller living arrangement within the community can help reduce costs. Additionally, some communities offer benevolent funds that assist residents who have depleted their financial resources through no fault of their own, ensuring they can continue to live in the community. When researching retirement communities, it’s important to inquire about their policies for residents who outlive their assets and whether they provide a benevolent fund. A thorough financial assessment should typically be completed before residency, helping the resident to prepare for budgeting expenses while a member of the community.

Compared to popular retirement destinations such as Delaware and Florida, Pennsylvania is a more affordable state for a comfortable retirement due to its lower cost of living and tax-friendliness. According to Yahoo Finance, you need about $817,000 in savings to retire comfortably in Pennsylvania.  This of course varies depending on your desired lifestyle, retirement goals, and eventual long-term healthcare needs.

The cost of living in a retirement community in Pennsylvania varies with the type of care and specific community. According to the National Investment Center for Seniors Housing & Care, the average monthly fee for a retirement community is $3,960. Pennsylvania tends to be in the middle in terms of average cost of living, though of course the state has higher and lower levels of retirement communities that offer more or less amenities, luxury, and available on-campus health.

Pennsylvania is very tax-friendly towards retirees. Pennsylvania exempts Social Security benefits and pensions for those aged 60 and older. Additionally, retirement income from traditional IRAs and 401(k)s is not taxed. The state also provides a Property Tax/Rent Rebate Program with rebates from $380 to $1,000 for eligible retirees and disabled individuals.

At a Continuing Care Retirement Community (CCRC), many long-term care medical expenses are included in your contract, eliminating the need to determine their tax deductibility. Moreover, residents who itemize deductions can often deduct a substantial portion of CCRC fees as prepaid medical expenses, which can include both the one-time entrance fee and the ongoing monthly fees.