The Type B Modified Contract

Carol Woods offers the Type B, Modified Contract, which has proven to be a financially sound way to operate a not-for-profit community.  Carol Woods’ model has gained national and international recognition for its long-term value.

• Fees include housing, meals, maintenance, housekeeping, utilities, and a full array of amenities, plus a physician-staffed, on-site clinic and 15 “free days” per year of skilled nursing care. These days are accumulated annually, with no limit on accumulation. Once free days are exhausted, the cost of assisted living or skilled nursing care is offered at a discounted rate.
  
• Bundled services, offered to everyone, lower costs and are more efficient. This method helps to budget predictable future costs.
  
• Health care is comprehensive, with a full-time clinic as part of monthly fee.
  
• Since future health care costs are paid in today’s dollars, an annual tax deduction is allowed as a percentage of your total monthly fee (usually between 30% & 40% of fees).