River’s Edge Life Plan living.

When you choose a Life Plan Community such as River’s Edge, you put a plan in place for a worry-free future. You get the lifestyle you want and the luxuries you deserve, all with long-term peace of mind for the decades ahead. In addition, if your health should change after joining the community, you have seamless access to the full continuum of convenient health services next door at RiverSpring Living and through our partnership with NewYork-Presbyterian Medical Center. Everything is here on one campus: independent living, assisted living, memory care, rehabilitation, and skilled nursing. And one extraordinary lifestyle.

The good news is that you can continue to live in the community you love, with friends and staff you know, without moving to another community, even if your level of care changes. Couples can stay connected on the same campus — even if one person requires assisted living, skilled nursing, or memory care. Also, in-home or care management services are available in your independent living apartment through RiverSpring Living.

Financial benefits

The perfect time to explore a Life Plan Contract is when you’re relatively healthy.

Do you have Long-Term Care insurance? Combining existing Long-Term Care insurance with a new Life Care Contract from River’s Edge provides the strongest protection possible. Long-Term Care insurance will pay your healthcare costs if life chooses for you and you need services. However, Long-Term Care Insurance won’t help you source high-quality caregivers or ensure priority access to a top-tier network of skilled nursing professionals, assisted living, memory care communities, or rehabilitation services, which is where living in a Life Plan Community comes in.

No Long-Term Care insurance? No matter, because a Life Care Contract from a Life Plan Community like River’s Edge gives you priority access to a full continuum of care from one of the most trusted organizations in the nation and keeps your monthly living expenses predictably the same, whether you need just a little help or a lot. Plus, if you or your partner require different levels of care, a Life Plan Community can keep you both together. If you don’t have Long-Term Care insurance, talk to a Life Plan Advisor about why a Life Care Contract is the next best thing.

Join the Founders Club

When you make a deposit on your entrance fee, you automatically become a Founders Club Member. That means you can select the future apartment you like, secure your view, and get the sun exposure you want. Your deposit is fully refundable with interest should your circumstances change. The Founders Club membership will provide all of these benefits:

  • Securing your apartment floor plan and location.
  • Waiver of the Monthly Service Fee for the first month of occupancy.
  • Pre-occupancy entrance fee pricing (2021 pricing for 2025 occupancy)—saving you money as the entrance fee pricing rises when a building is close to opening due to increased demand.
  • $7,500 in upgrade credits.
  • Lowest pricing—as demand goes up, pricing will also increase, especially as the project gets closer to completion.
  • Opportunity to personalize your residence.
  • Discounted valet parking.
  • Fun and easy opportunities to meet other future residents.
  • Exclusive events with our lifestyle partners at Carnegie Hall, Wave Hill, Jewish Museum, New York Historical Society, 92nd Street, and more.

Best of all, our Founders Club members are actively involved in co-creating the dining, culture, and programming of THEIR community. As a member, you will be invited to menu tastings and focus groups and asked to participate in surveys to help us co-develop the future community where you will live. This is an exciting opportunity. If the early interviews and focus groups are any indication, River’s Edge will be one active, lively group of cognoscente who will age in style and with purpose.

Frequently asked questions.

What is a Life Plan Community*?

River’s Edge Life Plan Community is an upscale residential community that comprises one- and two-bedroom apartment homes offering services and amenities for independent and vibrant individuals age 62+. If and when one’s health changes, assisted living and skilled nursing care services are provided seamlessly and are available on the same campus, at the same predictable fee.

What is Life Care?

Life Care provides all-inclusive service coverage so that if and when a higher level of care (assisted living or nursing) is needed, there are no incremental fees. Life Care effectively provides long-term care insurance, with a contract that covers all assisted living, memory care, and skilled nursing needs at the same predictable monthly fee. This is a potential savings of $140,000 a year.**

What does assisted living, memory care, and skilled nursing cost if I don’t move to a Life Plan Community?

Seventy percent of people over the age of 65 will need some type of long-term care.*** Assisted living, memory care, and skilled nursing care are not covered by Medicare. Monthly fees for these services in the New York metropolitan area typically increase at a rate of 3-5% yearly.

  • Assisted living: Starting at $9,000/month plus fees for additional services
  • Memory care: Starting at $13,000/month plus fees for additional services
  • Skilled nursing care: Starting at $9,000/month plus fees for additional services

What is the fee structure of a Life Plan Community?

There are generally two components of resident fees:

  • Entrance Fee: a one-time payment upon occupancy. Most often residents pay this from the sale of their home. The amount of the entrance fee depends on the type and size of the residential apartment.
  • Monthly Service Fee: similar to a monthly maintenance fee. This covers all living costs, including dining, housekeeping, programming, and more.

Are fees refundable?

YES! When you choose your apartment home you will also decide which entrance fee refund makes the most sense for your future planning. Refund options are 90% and 50%. Each option amortizes at 2% per month until capping at the desired plan. The refund is returned according to the Life Plan contract.

Do Life Plan Communities have tax benefits?

YES! There is a pre-paid medical tax benefit recognized by the IRS for both the entrance fee and monthly fee. The year the entrance fee (the cost of the residence) is paid, a portion can be deducted, attributed to future care. While living in the community, a percentage of the monthly fee is considered deductible for this purpose as well. Each year, River’s Edge will calculate the cost of operating its care center and share what percentage may be deducted. To maximize tax benefits, speak with a tax professional.

What are the social benefits of a Life Plan Community?

You will form meaningful friendships at a Life Plan Community with a lifestyle that involves a dynamic social network, robust activities, sophisticated programs, and amenities that ignite lifelong interests or help you discover new ones. The friends you make in a Life Plan Community are never far away no matter what level of care you are at since all care provisions are nearby, all on the same campus.

How does a Life Plan Community fit into my estate planning for myself and my children?

An important part of planning for the future is thinking about your care needs. How will your needs be funded and who will oversee those care needs? And most importantly, how can I maintain control over these decisions and not burden my family? Living in a Life Plan Community addresses all of these issues. With your decision of choosing to live in a Life Plan Community, such as River’s Edge, should you need assisted living, memory care, or skilled nursing care, these are all pre-planned. And all at a predictable monthly fee to protect your assets.

Why consider a Life Plan Community now?

The time to plan for tomorrow is today. If you are 62 or older, a Life Plan Community is a smart choice for your next move from both a financial and social perspective.

Who monitors Life Plan Communities?

River’s Edge and all Life Plan Communities in New York are overseen by the New York State Department of Financial Services and the New York State Department of Health.

Why should an older adult move to a Life Plan Community?

Life Plan Communities offer an interesting and engaging lifestyle in a community of like-minded people, peace of mind, and a financially secure retirement. As we grow older, these three factors play an increasing role in our lives. We live for today, and we plan for tomorrow. That is the essence of Life Plan Communities – and their benefits.

Why River’s Edge?

There are over 2,000 Life Plan Communities in the United States, and River’s Edge is the first and only such community in New York City. River’s Edge is located on a sprawling, 32-acre park-like campus along the Hudson River in Riverdale. River’s Edge offers the best of both worlds – close proximity to Manhattan’s diverse arts, entertainment, and culture, with tranquil and breathtaking riverfront views unlike any other.

River’s Edge residents will enjoy:

  • Life Care
  • World-class dining in beautiful dining venues
  • Housekeeping services
  • FLOW: a holistic approach to mind, body, spirit, and wellness
  • Concierge services
  • Utilities
  • Curated programs and activities
  • Complimentary transportation services
  • 24-hour security
  • Fitness classes and an aquatic center with a saltwater pool

How can we help you?

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Contact River’s Edge today.

Call today at 844-827-4837, attend an event or fill out the form to connect. We’d love to help you.