Financial value at Erickson Living community key to residents
Marvin Lane evaluated a number of retirement living options before choosing Highland Springs for its vibrant lifestyle and sensible financial structure
Marvin Lane began to evaluate retirement options more than a decade ago.
“My wife Joan and I played in a bridge group with five other couples,” says Marvin, who retired as corporate controller for Texas Instruments and also served three years as the board chairman for Dallas Area Rapid Transit (DART). “We took turns hosting bridge night each month. Two of those couples lived at Highland Springs, so we visited there four times a year for dinner and bridge.”
Highland Springs is a continuing care retirement community (CCRC) in North Dallas, managed by Erickson Living.
Set on 89 acres, Highland Springs offers spacious, maintenance-free apartment homes, all with easy access to a host of amenities and services, including a swimming pool, fitness center, restaurants, and a convenient on-site medical center. There are over 100 resident-run clubs and activities to keep body, mind, and spirit thriving, plus the peace of mind that comes from having the full continuum of care offered on campus. As an Erickson Living-managed community, Highland Springs is part of a nationwide network of CCRCs with 38 years of expertise in senior living. The strong financial health of Erickson Living sets Highland Springs apart from other senior living providers, providing residents with financial security, predictability, and value.
Considering their options
“As Joan and I considered our options, we narrowed the choice down to two: Highland Springs and a life care community near University Park,” says Marvin. “We created a list of ten categories to compare the two communities, and Highland Springs was our collective winner.”
The couple weighed factors including cost, on-site services and amenities, social engagement, and long-term viability.
“The long-term financial health of Highland Springs is excellent,” says Marvin, who completed a move to the community with Joan in January 2017. He has served as chair of the Finance Committee, and a year ago, he was elected to the Resident Advisory Council for a three-year term. Marvin currently serves as the resident member of the Highland Springs’ board Audit Committee. In North Texas, there are 55-plus communities with detached homes and neighborhood amenities, senior apartments that operate on a rental basis, life care com-munities, and fee-for-service continuing care retirement communities.
Highland Springs operates on a fee-for-service basis. Residents only pay for advanced levels of care if and when they need it. It’s a financial model that’s both affordable and secure for most retirees.
Sensible financial structure
There are two components to this financial structure, a 90% refundable entrance deposit and a monthly service package. The one-time entrance deposit is 90% refundable to you or your heirs. Details are outlined in the Residence and Care Agreement.
“Highland Springs consistently invests in the growth and enhancement of the community, ensuring long-term viability,” says Marvin.
The strong real estate market—spurred by low interest rates and limited inventory—favors home-owners, who are selling their homes quickly and for top dollar. The sale of a house often covers the entrance deposit. The monthly service package is a single bill that covers almost all regular living expenses, including utilities; flexible meal options; maintenance, including repair and replacement of appliances; fitness center and swimming pool; regularly scheduled transportation; 24-hour security and emergency response; professional landscaping, and much more.
“We have looked at our competition and what we offer for our price point,” says Director of Finance Opal Sullen. “We have a much better value for what you pay when you factor in the services and amenities at Highland Springs.”
Peace of mind for a secure retirement
As part of its home for life commitment, Highland Springs maintains a Resident Care Fund, designed specifically to assist eligible residents who outlive their resources. No one has ever been asked to leave the community because of a genuine inability to pay. Funds are raised through a combination of annual donations and legacy-giving campaigns. Full details are available in the Residence and Care Agreement.
“Highland Springs provides financial value and security to residents through a transparent sales process, predictable expenses, and the long-term benefits of our 90% refundable entrance deposit and Resident Care Fund,” says Director of Sales Christina Christie.
In his role as chairman of Highland Springs Finance Committee, Marvin worked with Sullen and Executive Director Matt Neville to develop a “deep dive” presentation for residents, giving them a detailed look at the community’s financial standing.
“The structures in place, including the 90% refundable entrance deposit, the monthly fee that covers most expenses, and the Resident Care Fund, make Highland Springs a sound decision for peace of mind and a secure retirement,” says Marvin.
To learn more about the financial value of life at Highland Springs, visit http://
About Highland Springs: Highland Springs, one of 20 continuing care retirement communities managed by Erickson Living®, is situated on a scenic 89-acre campus in North Dallas, Texas. The not-for-profit community of more than 1,150 residents and 520 employees is governed by its own board of directors, affiliated with National Senior Campuses, Inc., who provide independent financial and operational oversight of Highland Springs. Additional information can be found at http://
Written by Sara Martin
