No leaky roof to fix, no snow to remove, no lawn service to schedule...
Not having to worry about the headaches and costs of home ownership is a welcoming thought for seniors who look forward to making NewBridge on the Charles their retirement community. Still, selecting a financial strategy that's right for you is not a quick and easy decision. We will help you work out a plan within your retirement community price range that's right for you.
NewBridge is a membership community in which residents pay an entrance fee. Upon leaving the community, 90 percent of that fee is refundable. Community costs range from $529,000 for an apartment to $1.25 million for a cottage-style retirement home. There is also a monthly fee that ranges from $3,000 to $5,310 (subject to change) per household, with an additional $1,100 per month for a second resident.
In addition to not having home maintenance costs, residents no longer have to worry about resale of their home. And, having accessibility to a wide range of convenient services and amenities throughout one community adds to the ease and enjoyment of retirement living.
Download the current pricing for Independent Living cottages, villas and apartments.
NewBridge also offers its residents the option to choose one of two health care plans: Fee-for-service or a Modified Life Care Plan. Details include:
Fee-for-Service | Plan 1
If, in the future, you ever require assisted living or health-care services, you pay through your long-term care insurance or your private funds. If at some time your own funds are depleted, you would be able to draw against your entrance fee refund to pay for your care.
Modified Life Care | Plan 2
This plan offers security whether or not you already have long-term care insurance, and you wish to limit your exposure to health-care expenses. For an additional $95,000 for an individual or $135,000 for a couple, each qualified individual will be entitled to 120 days of assisted living and/or health-care services and a 20 percent discount on assisted living and/or health-care services once those 120 days are used up. The additional payment is considered part of the entrance fee and is therefore also 90 percent refundable when one leaves the community, whether the plan is used or not.
With each plan, you and your family will enjoy the confidence that comes with knowing you've made the best choice for now and the right plan for tomorrow.
We are available to help answer all your financial questions as well as understand the details of each health care plan. Call the Marketing Office at 781-234-9020 for additional information.