|
333 Lee Drive
Baton Rouge, LA 70808
Phone: (225) 215-4510
Fax: (225) 215-4515
Toll-Free: 1-800-460-7007
|
Fees for Independent Living
 When a person moves to St. James Place independent living, there are two fees to keep in mind: An entrance fee, paid prior
to move-in, and a monthly fee paid every month, once the resident moves in. The amount of both fees is linked to the size of
the residence chosen. Please note that residents do not purchase their residences.
Two Entrance Fee Plans
Is the entrance fee refundable?
The answer depends upon which entrance fee plan a resident
chooses: The traditional (declining balance) entrance fee plan,
or the 90% refundable plan. The traditional plan has a
declining balance, which means the entrance fee is
proportionately refundable, until the resident has lived at
St. James Place for 45 months. The 90% refundable
plan results in a 90% refund to the resident or his
estate, regardless of the length of residency.
Four contract options
Residents now have a choice as to what kind of
long-term care benefits they want to purchase.
Four contract types offer different coverages,
once the resident moves from independent
living into one of the other areas. As long as the resident lives in
independent living, the monthly fees and services are the same, regardless of the contract type.
- Full life-care benefit assures the
resident of unlimited lifetime care
in assisted living, nursing care, or
memory care. This care will be
provided for the same amount of
monthly service fee as the resident
is paying in independent living, at
the time of the move, plus a charge
for two additional meals per day.
- No Memory Care option provides
lifetime care for regular assisted
living or regular nursing care, but
excludes memory care from the
coverage. (Memory care will be
available, but at the “private pay” rate.) The entrance fee is 30% less
than the full life-care benefit.
- Long-Term Care Insurance option will be attractive to people who
have long term care insurance. The
entrance fee is discounted 35% from
the full life-care benefit. If the
resident needs assisted living,
nursing care, or memory care, he or
she will pay 80% of the “private pay” rate and will seek reimbursement
from his or her long-term care
insurer. Note: the 90% refundable
plan is not available with this
option.
- 365 day care option provides
coverage for assisted living, nursing
care, and memory care, for a period
limited to 365 days. (If care is
needed beyond that period, the
resident will pay for it at the
“private pay” rate.) The entrance fee
is 35% less than the full life-care
benefit. Note: The 90% refundable
plan is not available with this
option.
Please note: Residents may also
join the St. James Place community
directly into Assisted Living or
Nursing Care if space is available. In
this situation there is no entrance
fee. For information on this option,
call 225-490-3453.
|
|
