Saratoga Retirement Community has carefully structured its fees so residents receive the most value for their money. Here is a step-by-step description of how the fee structure for a Continuing Care Agreement works:
The first step to becoming a resident at SRC is to pay a $1,000 application processing fee, which will put your name on our applicant list and is 100% refundable should you not qualify for residency or decide not to move to SRC before you sign a Continuing Care Agreement.
Once you’ve selected a residence, you will be asked to make a deposit toward your entrance fee that is 10% of the total fee, depending on the residence you choose. The remaining balance is due 60 days after the 10% deposit.
The entrance fee is a one-time payment when you first become a resident at Saratoga Retirement Community. The amount depends on the residence and type of entrance fee plan you choose. We offer two types of plans: the traditional, which includes a 36-month pro-rated refund; and the 80% returnable, which requires a higher entrance fee but provides you or your estate with a refund past the 36-month period.
The monthly fee is an ongoing payment each month. The amount depends on the size and style of the residence you choose and whether you live there alone. The IRS may allow a portion of your monthly fee to be deductible as a medical expense (we encourage you to check with your personal tax advisor regarding possible tax deductions related to residency). As you move through the continuum of care at Saratoga, your monthly fee will be adjusted accordingly.
Through the provisions in your Continuing Care Agreement, the entrance fee and monthly fee function together to help you save money on healthcare services over time.
*Traditional entrance fee contracts are limited and subject to availability.
These fees are effective April 1, 2021. All fees are subject to change.
14500 Fruitvale AveSaratoga, CA 95070
Residency Inquires: 1-800-996-3467General Assistance: 408-741-7100
COA #211 | RCFE #435201057 | SNF #220000416
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