This is where you will find answers to our frequently asked questions (FAQ).

1. What is a continuing care retirement community (CCRC)?
2. What are the three types of payment arrangements offered by CCRCs?
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/we know if I/we can afford to live at The Highlands at Wyomissing?
6. Is there a waiting list at The Highlands at Wyomissing and, if so, how does it work?
7. Is the Entrance Fee paid to The Highlands at Wyomissing refundable?
8. Are there any federal income tax benefits for CCRC residents?

1. What is a continuing care retirement community (CCRC)?

    The American Association of Homes and Services for the Aging (AAHSA) defines a CCRC as:

"A continuing care retirement community provides or arranges for housing and health-related services to an older person under an agreement or agreements effective for the life of the person or for a specified period greater than one year."

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2. What are the three types of payment arrangements offered by CCRCs?

    The three types of payment arrangements offered by CCRCs are:

1. Type-A (extensive) - residents pay a substantial one-time, up-front entrance fee and monthly fees to cover the cottage or apartment, services, and all the Assisted Living or 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 an entrance fee (also substantial, but less than the one that would be charged under a Type-A arrangement) and monthly fees to cover the cottage or apartment, services, and a limited amount of Assisted Living or Nursing care.
3. Type-C (fee-for-service) - residents may or may not pay an entrance fee.  The monthly fees cover the cottage or apartment and other included services.   The resident must pay the full cost of Assisted Living or Nursing services that he or she may require.

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3. What am I getting when I move into a Type-A CCRC?

    Type-A CCRC residents receive a full range of guaranteed services, particularly health care, 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, age-segregated 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.

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4. Is The Highlands at Wyomissing a nonprofit organization?

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

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5. How will I/we know if I/we 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 if 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 that have the necessary assets and income are accepted for admission. 

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6. Is there a waiting list at The Highlands at Wyomissing and, if so, how does it work?

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

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7. Is the Entrance Fee paid to The Highlands at Wyomissing 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.  

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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.

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