What Is a Senior Living Contract?

October 4th, 2018 by John Wilson

When it comes time to move a loved one into senior living communities in Oklahoma City, there’s a lot to consider. There are many area communities from which you can choose, but it’s important to make sure you select the right one to not only meet your loved one’s needs, but also fit within their budget. One of the most important elements to consider when you evaluate each potential facility is the senior living contract. It’s critical to make sure you fully understand this contract before you sign on the dotted line and make a commitment.

Cost of Living Increases

No one knows the length of time they will spend in senior care services, which is why it’s important to note how the contract addresses cost of living increases that will happen over time. In some cases, you may be able to negotiate them if they don’t fit into your family’s budget. If this element isn’t addressed, don’t hesitate to ask the provider for more details. Make sure you get everything in writing. This will help ensure you find a facility that is currently within your loved one’s budget and will continue to be for the foreseeable future.

You need to understand the contract for senior care services.

Senior care services often require a contract.

Involuntary Discharge

When your loved one signs a contract for senior living facilities, it is nice to consider the fact they can leave at any time in the future if they so choose. However, there may come a time when they could potentially be forced to leave against their will, such as if there is a failure to pay rent for an extended period. The good news there are government regulations that govern these processes, which should be carefully spelled out in the residential contract prior to moving in. It’s important to fully understand what services senior living communities in Oklahoma City can and can’t provide so you know what to expect, depending on how the needs of your elderly loved one change.

Arbitration

Many senior living contracts will have a mandatory arbitration provision that requires residents and their families to seek third-party intervention rather than taking the senior living facility to court. There are a number of reasons for this, including keeping these issues out of an already clogged court system and reducing the amount of stress all parties experience in the event of a disagreement.

Contract Types

Another critical element when going over a senior living contract is understanding the various types of contracts common in this industry. A “Type A” contract is a life care contract that requires residents to pay a predetermined monthly amount, regardless of the services required. A “Type B” contract involves paying an entry fee to move in and then paying particular costs each month based on the type of care required. Finally, a “Type C” contract is used to pay for specific services as they are used. Each one has its advantages and should be fully evaluated to determine which is the right fit for your loved one.

If you’re looking for the right senior care services for your aging loved one, contact us. We are happy to go over our contract options so you can determine if we are the right fit for your loved one.

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