News

The Highlands receives the AVP Seal

November 11th, 2016

The Highlands at Wyomissing is pleased to announce that it has received the A.V. Powell exemplary designation seal.  The Board of The Highlands at Wyomissing adopted the financial management philosophy to set fees and maintain reserves that are actuarially sound in accordance with Actuarial Standards and Practices.  This means that the combination of our entrance fees and monthly service fees for new residents and accumulated reserves on behalf of current residents are expected to equal or exceed their lifetime costs using a reasonable set of assumptions about future revenues and expenses.

Each year we engage a nationally recognized firm to update our assumptions and test our status in regard to the Board’s objective to comply with Actuarial Standards and Practices.  The most recent update was as of June 30, 2016, and shows that we are in satisfactory actuarial balance.  Based on this report, The Highlands at Wyomissing earned the A.V. Powell & Associates’ exemplary recognition seal (http://www.avpowell.com/asop3-seal/) indicating that our actuarial results are in the top tier of CCRC’s in the AVP database.

av-seal-2016