Hollenbeck Palms has developed four Financial Entry Plans so that you can choose the one that works best for your retirement plan. Your Marketing representative will be happy to explain these options during your visit to Hollenbeck Palms, or by phone.
Plan A, or Lump Sum Payment for Life, requires that residents assign all or a portion of designated assets into Hollenbeck's account for their continuing care. There is no separate entry fee or monthly fee – these fees will be deducted from the assets. Residents will have access to the account for their personal needs.
Plan B requires that residents pay an entry fee. Residents also pay a monthly fee, which is significantly less than the Plan C plan below.
Plan C (except Magnolia Court)
Plan C does not require an entry fee. Residents pay a monthly fee only.
Plan D Refundable Option
The Plan D Refundable Option requires an entry fee, which is 85% refundable after the apartment has been reassigned to a new resident. Residents also pay a monthly fee.
The Entry Fee that is noted above is a one-time fee, and is amortized at 2% per month for a period of 50 months.