Where
Yes, but it depends. Most entrance fees are setup with some refundability, but it is important to understand the conditions and amount of the refund. The refund may be a percentage of the original entrance fee (100%, 90%, 50%, etc.) or some other number. Some communities deduct the amount of care that you use from the entrance fee, or reduce it based on your length of stay. It is important to understand how much and under what scenarios you or your estate will receive a refund. For instance, some communities must rent or sell your unit prior to providing a refund. Entrance fees can be large amounts and may provide access to key care, but their potential cost and refundability need to be thoroughly understood before moving into a community.