Understanding the Cost

What is included in the entrance fee?

The entrance fee is a one-time, 90% refundable deposit that secures your spot in our community and provides the assurance of multiple levels of care in the future at predictable costs. The pricing of the entrance fee is dependent upon the size of the residence you choose when moving in. Not only does the entrance fee help The Ormsby meet the expenses associated with running a Life Plan Community, but it also allows us to create a living environment that’s both maintenance-free and amenity rich for the residents living here.

Most residents will choose to apply some of the proceeds from the sale of their home to cover the entrance fee. And with our refundable deposit model, you can rest easy knowing that the majority of your entrance fee will be returned to you, your children, or your estate in the future.

What is included in the monthly fee?

The monthly fee is an ongoing, predictable monthly payment that is generally equal to or less than the monthly costs you formerly paid while living at home. This monthly fee covers the costs and upkeep associated with living at The Ormsby, including access to amenities, around the clock maintenance, security, campus-wide services, and more. In addition, being a resident at The Ormsby means no more property taxes, yardwork, utility bills, home maintenance, and any other physical and financial costs associated with home ownership. Most residents will also find that their grocery bills will go down as they take advantage of the fresh, healthy, and convenient dining options that lie on campus.

Are there any tax advantages to moving into The Ormsby?

Although tax laws are continuously evolving and vary from state to state, legal precedents have generally been favorable for Life Plan Community residents seeking to deduct a portion of their fees. Of course, these laws are always up for interpretation, and we therefore recommend speaking to a tax advisor to determine the best approach for you and your specific circumstance.

What happens with my long-term insurance if I move to The Ormsby?

Your long-term care policy will work hand-in-hand with The Ormsby to provide you high quality care, paying you earned benefits directly as the policyholder in most instances. Please speak to a sales counselor at 1-859-331-1490 in order to better understand your specific policy and to determine what benefits you are eligible for.