Frequently Asked Questions

Frequently Asked Questions.

Can’t find the answer to your questions? Below you will find answers to some of our most frequently asked questions. If you can’t find your answer feel free to contact by email or phone.

  1. What is a continuing care retirement community (CCRC) or Life Plan Community?
  2. What are the three types of payment arrangements offered by CCRCs or Life Plan Community?
  3. What am I getting when I move to a Type-A CCRC?
  4. Is The Highlands at Wyomissing a nonprofit organization?
  5. How will I know whether I can afford to live at The Highlands at Wyomissing?
  6. Is there a waiting list for The Highlands at Wyomissing? How does it work?
  7. Is my Entrance Fee refundable?
  8. Are there any federal income tax benefits for CCRC or Life Plan Community residents?
  9. What is the financial strength of The Highlands at Wyomissing?

1. What is a continuing care retirement community (CCRC) or Life Plan Community?

A continuing care retirement community (CCRC) or Life Plan Community offers all the components needed for healthy aging: exercise, proper diet and social interaction. CCRC’s combine several levels of care: residential, personal care/assisted living, memory care and skilled nursing and rehabilitation in a single setting.

2. What are the types of payment arrangements offered by CCRCs or Life Plan Community?

The types of payment arrangements offered by CCRCs or Life Plan Community are:

  1. Type-A (extensive or life care) – Residents pay a one-time Entrance Fee and Monthly Service Fee to cover the villa or apartment, services, and all future Personal Care or Skilled Nursing Care the resident will need for the rest of his or her life. The Highlands at Wyomissing offers a Type-A (extensive) arrangement.
  2. Type-B (modified) – Residents pay a lower Entrance Fee and lower monthly fees to cover the villa or apartment, services, and a limited amount of Personal Care and Skilled Nursing Care. The Highlands at Wyomissing also offers a Type-B (modified) arrangement.
  3. Type-C (fee-for-service) – Residents pay an Entrance Fee. The monthly fees cover the cottage or apartment and other included services. The resident must pay the full cost of Personal Care or Skilled Nursing services that he or she may require.

*When comparing CCRCs or Life Plan Communities, be sure to compare contract type to contract type, not price alone.

3. What am I getting when I move into a Type-A CCRC or Life Plan Community?

Type-A (comprehensive or life care) CCRC or Life Plan Community residents receive a full range of guaranteed services, particularly Personal Care and future healthcare, that enhance or help maintain an independent lifestyle. Moreover, Type-A CCRC residents enjoy the freedom from responsibility of maintaining a residence while living in a safe and secure environment. Lastly, Type-A CCRC residents know that they are not being a burden to family members and that they have financial protection against long-term-care costs.

4. Is The Highlands at Wyomissing a non-profit organization?

Yes, The Highlands at Wyomissing is a non-profit, Internal Revenue Service (IRS) Section 501(c)(3) public charity.

5. How will I know whether I can afford to live at The Highlands at Wyomissing?

After the applicant(s) submits his or her Confidential Financial Information for review, the information is entered into a financial program to determine whether the applicant(s) has the financial resources to pay the Entrance Fee and the subsequent Monthly Service Fees over the applicant’s remaining life expectancy. Only applicants who have the necessary assets and income are accepted for admission.

6. Is there a waiting list for The Highlands at Wyomissing? How does it work?

Yes, individuals who are not ready to move to The Highlands at Wyomissing may reserve a position in our Future Resident Club by paying a $1,500-per-application refundable deposit. Future residents then specify the type of residence and the time period in which they wish to be called. Once called, future residents may turn down available villas or apartments as often as they want without losing their chronological position (based on the date of their deposit) on the Future Resident Club list.

7. Is my Entrance Fee refundable?

The entire Entrance Fee is amortized over the first 50 months of occupancy at a rate of 2% per month. Any unamortized Entrance Fee is refunded if the contract is terminated during the first 50 months of occupancy.

8. Are there any federal income tax benefits for CCRC residents?

According to the current rules and regulations of the Internal Revenue Service (IRS), a portion of each resident’s Entrance Fee and Monthly Service Fees may be deducted as an itemized medical expense. The Highlands at Wyomissing will inform each resident of the allowable deduction each year for the Type-A (extensive) and Type-B (modified) contract.

9. What is the financial strength of The Highlands at Wyomissing?

Financial security at The Highlands is all about peace of mind for the future. The Highlands, a nonprofit organization, has a 20+ year history of fiscal reasonability that translates into steady and predictable annual fee increases. The Highlands has a charitable Endowment Fund providing financial assistance to residents whose assets have been depleted over time through no fault of their own. The Endowment Fund is supported through charitable gifts and provides a safety net for residents.