Top 5 FAQs About Contracts at Blue Skies of Texas
If you’re looking for a senior living community in the San Antonio area, you may be considering Blue Skies of Texas for our rich heritage, strong traditions, dynamic social connections, and ample amenities. However, you may have questions about the logistics of living at Blue Skies. In this article, we discuss some of our frequently asked questions about the contracts at Blue Skies.
1. What are the contract options at Blue Skies?
Blue Skies offers three types of contracts: Life Care, Continuing Care, and a Rental Contract. Our multiple contract options give you the capability to make the right choice for your financial needs. Our Life Care and Continuing Care contracts both feature an entrance fee and monthly service fee. The entrance fee goes toward future health services at a guaranteed discount and the costs of your home and facilities. Meanwhile, the monthly service fee helps cover our numerous amenities and activities, such as our fitness center, dog parks, and over 70 resident-led clubs, programs, and committees. Both contracts offer a variety of refund options, including a 90% refund, 50% refund, and 42-month declining balance.
Both our Life Care and Continuing Care contracts have guaranteed access to healthcare services for all levels of living. The difference between our Life Care and Continuing Care contracts involves the cost. Life Care contracts tend to cost a bit more than Continuing Care contracts. However, with a Life Care contract, your future healthcare costs are “built in” at a fixed rate and covered for any services you may need in the future. Overall, you’ll end up paying less than the standard per diem rate for any services, even if costs rise in the future. Meanwhile, the Continuing Care contract allows for a 10-15% discount on the same services.
Meanwhile, a Rental contract differs from both our Life Care and Continuing Care contracts. With a rental contract, there is no entrance fee, only a monthly service fee. As a result, the monthly service fee tends to be higher in cost. Those with a rental contract are not guaranteed to have access to all levels of care. With a rental contract, you must pay out-of-pocket for healthcare services at market rate. However, residents with a rental contract do have higher priority than a non-resident of Blue Skies to our healthcare services.
All contracts, including Life Care, Continuing Care, and Rental, include a monthly service fee. This monthly service fee helps cover the plentiful amenities and services at Blue Skies of Texas, including our housekeeping, on-site transportation, upscale meal plan, and more. Our on-site, scheduled transportation can take you to some of the most popular destinations in San Antonio, including shopping centers, cultural experiences, and medical facilities for your health needs. The meal plan helps cover most expenses at our multiple restaurants. This includes our Sky Lounge and Bar, located in our 16th floor penthouse with elegant views of the cityscape. Part of this meal plan fee can rollover into the next month.
If you’re interested in taking a deeper dive into the financials of Blue Skies of Texas, view our cost calculator here to compare the costs of living at home versus Blue Skies.
2. What is the most popular contract among Blue Skies of Texas residents?
About 90% of residents choose a Continuing Care contract with a standard 42-month declining balance. This type of contract allows the peace of mind that you have access to all levels of care at a discount while keeping your fees affordable. The standard 42-month declining balance plan involves a declining refund of the initial entrance fee that, at 42 months, will no longer be refundable. This type of contract is usually the most affordable option, and is great for someone who knows that they will live permanently at Blue Skies. With access to high-quality healthcare services at all levels of living, you know that you are in safe hands at Blue Skies all the time.
3. If I choose the 42-month declining balance contract, what happens to my money after 42 months?
After 42 months, your entrance fee will no longer be refundable by Blue Skies of Texas. Instead, you can rest easy knowing that your entrance fee is going toward the plentiful benefits you receive here. For example, you will never have to pay for property taxes, trash collection, or residence maintenance at our senior living community here in San Antonio!
4. Can I alter my waitlist selection? Will that put me at the bottom of the list?
Yes, you can change your waitlist selection! We understand that your needs may change. That’s why we offer flexibility to change your contract type. Further, changing your mind will not put your name at the bottom of our waitlist. The waitlist order is determined by the date of the deposit. The earlier you make your 10% Commander’s Circle deposit, the higher on the list you will be—even if you change your mind.
5. What happens if we run out of money?
At Blue Skies, we understand that sometimes difficulties can happen. That’s why we offer our promise of financial assistance to residents under our Life Care and Continuing Care contracts. All a resident must do is apply. If your financial situation is truly out of your control, Blue Skies is happy to provide assistance to allow continued residence, care, and services. If you run out of funds through no fault of your own, you will always have a place at Blue Skies of Texas.
Overall, Blue Skies of Texas values flexibility for all members of our community. That’s why we offer a variety of contract options and price points. We are happy to provide you with any further information you need to take the next steps in your senior living journey. To learn more, call us at 866-553-5389 or download our free information kit here!