We have provided basic information below, but we welcome you to visit the campus and discuss the options more fully. We also welcome questions from your family members or financial advisors.
No matter where you live, there are costs involved, from rent or a mortgage to utilities and taxes. By offering a range of living and contract options, we believe we offer value and peace of mind for you and your loved ones, for years to come.
Residence & Care Agreement Options
Kendal at Hanover offers prospective residents four variations of the Residence and Care Agreement. All the variations are identical in the accommodations and amenities provided. The differences are in the Entry Fees charged, the services included, the calculation of the refund, and any discount for retaining a long-term care insurance policy for future health care needs. Regardless of the type of agreement, residents of Kendal at Hanover are guaranteed residency here, even if their personal resources have been exhausted.
(which the Schedule of Fees is based upon)
Residence & Care Agreement: provides the lowest Entry Fee. The available refund under this plan declines by 2% for each month of occupancy. After 50 months, there is no refund of the Entry Fee.
Residence & Care Agreement with 50% Return of Entry Fee: Requires a higher Entry Fee, which is based upon type of apartment and age at move in. The available refund under this plan declines by 2% for each of the first 25 months of occupancy. After 25 months, the refund stabilizes at 50% of the Entry Fee paid. This refund is a fixed amount and is not adjusted for inflation.
*for the two agreements mentioned above, the monthly fee essentially remains the same, regardless of what level of care a resident is transferred to; Assisted Living or Nursing Care.
Residence & Care Agreement with Long-Term Care Insurance: Gives residents, with long-term care insurance, a credit on their entry fee for using their insurance to pay for a defined period of long-term care. At the end of the defined period (starting at 1 year and goes up to 5 years), the agreement reverts to a standard life care agreement, as described above. The amount of the credit is determined by the terms of the resident’s policy.
Agreement for Admission to Assisted Living: Offers the flexibility for residents to enter directly into Assisted Living (our Memory Care unit being considered part of AL.) Under this type of agreement, there is no Entry Fee. However, resident’s pay a higher monthly fee, which would increase if/when they transfer to Nursing Care.
A significant portion of the Entry Fee (when applicable) and Monthly Fee is tax deductible. Additionally, residents are required to carry Medicare A, B and D (or equivalent pharmaceutical coverage), along with supplemental insurance, such as; a suitable Medigap Plan.
Request Schedule of Fees
Fill out the form below to view our current Schedule of Fees for our Standard Residence & Care Agreement.
Is it Worth the Wait?
Many people delay joining a Wait List, or even exploring their options, until there is a medical concern. Applicants who wait too long may be limited to an Agreement for Admission to Assisted Living contract as a result of these medical concerns. We strongly encourage anyone interested in living at Kendal at Hanover to join our Wait List sooner rather than later, as there is no penalty for deferring an apartment at any stage of the process.
Get In Touch
You are welcome to request copies of any portion of the Agreements listed above. Please contact Jeff Roosevelt or Lisa Stone, in Marketing & Admissions, for more information at (603) 643-8900.