Quote:
Originally Posted by manaboutown
Erickson requires an entrance fee which is refundable to varying degrees depending on time and circumstance.
"90% Refundable Entrance Fee*
This one-time fee secures your independent living apartment home for as long as you live here. Should you leave the community, 90% will be returned to you or your beneficiaries."
I do not believe a resident purchases ownership in a "condo" with it.
What Is a Condominium? How Condos Work Compared to Apartments.
Charlestown has a "medical center"
"Your medical center is located right on campus, so you'll receive prompt care from providers who specialize in senior health and wellness. Unlike most medical practices, we schedule 30 minutes for each appointment and offer easy access to all your medical information through our secure resident health portal."
and a physician is always "on call".
"There's always a doctor on call, plus an emergency medical response team with an average response time of three minutes or less."
The quotes are from their website. |
Yes, it is condo ownership with conditions. You can only sell it back to Erickson. But, the unit is yours. Regarding medical treatment, the Erickson facilities I have visited in Virginia did not provide medical treatment to those who lived in independent living units. If they needed treatment, they either paid for it or used Medicare or insurance. If they were transferred to assisted living, they received some help and they could return to their independent living unit at some point in time.