What is a Modified Contract?


One benefit of living at a Life Plan Community, or Continuing Care Retirement Community (CCRC), is the many contract choices and options available to residents. Offering different contracts allows residents to choose a plan that will work with their unique financial needs while also securing their future.

When a resident enters a Life Plan Community like Fountaingate Gardens, he or she typically pays a one-time entrance fee. The entrance fee is an investment that covers capital costs and/or future health care benefits. This fee varies and is typically dependent on both the size of the resident’s unit and the community’s refund policy. The resident also pays a monthly service fee that covers the cost of services such as utilities, housekeeping, interior and exterior maintenance, dining and on-campus activities.

The entrance and monthly service fees a resident pays depend on the type of contract selected. These fees also determine the duration and cost of health care services a resident may receive. Contract options at Fountaingate Gardens include a Life Care contract and a Modified Fee-For-Service contract. In this blog, we’ll review the Modified contract option.

The Modified contract offers the opportunity to “pay as you go.” With this program, a resident would not pre-pay for higher levels of care they may not need. Instead, as incurred, they would pay the going rate for assisted living or skilled nursing care if, they need it, and/or when they need it. This program is ideal for people with Long Term Care policies as well. The Modified contract covers the residence (in the Fay J. Lindner Assisted Living community or the Gurwin Jewish Nursing and Rehabilitation Center) and the care services each provides. At Fountaingate Gardens, an additional 60 free days of skilled nursing care in the Gurwin Jewish Nursing and Rehabilitation Center is included in the Modified contract for all Fountaingate residents. (This is exclusive of any days that are covered through Medicare for short-term rehabilitation services.)

Many residents like having some long-term care included, but want more flexibility than the Life Care contract offers. For those residents, the Modified contract with lower entrance and monthly fees is a great fit. Those with long-term care insurance should review how their plan would work with different contract options before making a decision.

Regardless of the contract option selected, each resident will have access to long-term health care services on campus, as well as to the additional services covered by the monthly service fee, such as housekeeping, dining, maintenance, a 24-hour security and call system, landscaping, utilities, fitness classes, Wifi, trash removal, and more.

All residents also have access to all on-campus amenities such as a wellness center, an all-seasons swimming pool, dining venues, fitness classrooms, a game room, library, spa and salon, and public event rooms.

For more information on the Modified Fee-for-Service contract and other contract options, contact Fountaingate Gardens at 631-715-2693 to speak with one of our knowledgeable Lifestyle Consultants.