What are the residency agreements that could be offered in a CCRC?
Residency agreements normally are offered in three versions: extensive, modified or fee-for-service. 1. Extensive Agreement (Type A): This agreement includes an unlimited amount of long-term care. Residents pay the same rate for care while occupying a nursing unit in the health care center as they would in a residential unit. 2. Modified Agreement (Type B): This contract includes housing, residential services and amenities. It also covers a specified amount of long term nursing care per year, normally 30 days. Nursing home fees equal the monthly fee paid in the residential unit during this covered period. After the covered period, residents normally pay the market rate for additional nursing days. 3. Fee-for-service (Type C): This contract includes housing, residential services and amenities. Residents have guaranteed access to the health care center but pay market rates. Essentially, residents pay only for services used.
