Financial Plans

Patriots Colony is dedicated to providing its residents with the best retirement value possible. At Patriots Colony your Entrance Fee and Monthly Fee includes your residence, daily services and amenities, and access to a full continuum of care – truly a lifetime package of services. Fees vary by the type and size of residence, the occupancy, the Entrance Fee refund option, the continuum of care option, and the amount of entrance fee vs. monthly fee you wish to pay.

The Patriots Colony fee structure has been designed to offer the resident choices that can fit each individual’s financial situation and plans for future care. Key features of this flexible fee structure include:

Future Care Options
Residents choose either LifeCare or the Residence & Services plan, depending on their personal situation and preference. In addition, a couple may choose the Combined plan, in which one spouse chooses LifeCare while the other selects the Residence & Services plan.

LifeCare
This option is the standard plan which offers significant discounts off the market rates for health services, if needed. A portion of the Entrance Fee and the monthly fees may be tax deductible as a prepaid medical expense based on present IRS
rules.

Residence & Services
This newer option is available to those residents who wish to keep their long-term care insurance policy or who may not qualify for LifeCare based on a pre-existing health condition. Since these residents receive priority access to the other levels of care at the prevailing market rates, the Entrance Fee is lower than LifeCare.

Both the LifeCare and Residence & Services plans are available with various Entrance Fee refund options – including 50% and 95% refundable plans – and other considerations to meet your needs and preferences. You’ll want to discuss your personal financial situation and your long-term goals with your marketing counselor so we can help you make the best decision for your specific situation.

Thanks to the expertise and economy of scale of Patriots Colony’s sponsor, Riverside Health System, and the low cost of living on the Virginia Peninsula, you will find Patriots Colony’s fees to be the best value of any comparable retirement community.

View the services included with the Monthly Fee.

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