At Edenwald, we offer two main contract options, Lifecare (Type A) and fee-for-service (Type C). All of our residents, no matter what type of contract they choose, will have the security of future healthcare, if needed, but the cost will vary depending on the contract type. Here’s some information on each option to help you decide which one is right for your individual situation.
LIFECARE CONTRACT (TYPE A)
With a Lifecare contract, also known as a Type A contract, you’ll pay one all-inclusive entrance fee that covers independent living and higher levels of care such as assisted living, specialized memory care and comprehensive nursing care, all at little or no increase in your monthly fee. Depending on your future health needs, Lifecare could offer you and your family a better value over your lifetime.
FEE-FOR-SERVICE CONTRACT (TYPE C)
Fee-for-service contracts, also known as Type C contracts, offer lower entrance and monthly fees for independent living than Lifecare contracts, but additional healthcare services are purchased individually.
A fee-for-service contract can cost significantly more than a Lifecare contract over your lifetime because higher levels of care will be based on market rates. However, if you have long-term care insurance, you may prefer the Type C contract because of the lower up-front costs.
The choice you make can depend on several factors, including your current finances, your age and your health. To get help with choosing a contract option, give us a call at 410-823-1349.