First of its kind in New England increases value, flexibility
RiverWoods Manchester, Manchester’s only Continuing Care Retirement Community (CCRC), and an affiliate of The RiverWoods Group, unveiled a new, limited-edition flexible contract today. This contract is the first of its kind in New England featuring greater flexibility and lower monthly cost.
“We created this new contract to respond directly to interest we had from prospective residents,” said Linda Phypers, Executive Director of RiverWoods Manchester. “This provides greater predictability of costs, and the unique advantage of accessing your refundable assets during your lifetime.”
CCRCs welcome people 62 years or older, to enter as independent residents. Once there, residents enjoy a variety of amenities from housekeeping, laundry service, dining, inside and outside maintenance to educational programs and exercise classes, while making friends and cultivating community engagement. As they age, if a resident needs a higher level of care, it is available to them within the same campus.
Most CCRCs in New Hampshire who offer a refundable contract provide a residents’ estate a percentage of the original entrance fee when they pass away, and their home is resold. The major innovation in RiverWoods Manchester’s contract is that residents can access their refundable portion during their lifetime, to pay for health care fees.
The difference is in the details:
- Increased refundability: 70% vs. 50%
- Lower monthly independent living fees
- Lower monthly healthcare fees (if and when needed)
- The opportunity to maintain predictable cash flow through your lifetime
- The ability to access the 70% refundable entrance fee during your lifetime to pay health care costs
This contract option, which is being pioneered in New England by RiverWoods Manchester, delivers increased value for couples, increased predictability of cash flow, as well as greater flexibility for residents. Importantly, the ability to dip into the refundable entrance fee during your lifetime is a valuable asset.
RiverWoods Manchester is Manchester’s only Continuing Care Retirement Community (CCRC). Located on 29 wooded acres, the community, which completed a $12 million capital renovation in 2018, is a proud affiliate of The RiverWoods Group (TRWG), the largest non-profit family of CCRCs in New Hampshire. As a non-profit CCRC, RiverWoods Manchester provides community and peace of mind built on the philosophy that you don’t need to pay for care until you need it, which results in a smart financial option.
About RiverWoods Manchester
RiverWoods Manchester began in 1875 and has evolved through the decades to meet the changing needs of seniors in Manchester, NH. In 2009, the organization became a CCRC (Continuing Care Retirement Community), providing independent, assisted living, memory support and nursing care.
RiverWoods Manchester is an affiliate of the RiverWoods Group, which is the parent company of RiverWoods Exeter, a charitable, nonprofit, nationally-accredited CCRC comprised of three vibrant campuses on 200 wooded acres in Exeter, New Hampshire. RiverWoods Exeter was begun by a small group of Seacoast area residents, and today has earned many awards and accolades for the quality of health care, and the innovative approach to their work. For more information visit www.RiverWoodsRC.org or call RiverWoods at 1-800-688-9663.
For a primer on CCRCs, download the Insider’s Guide to CCRCs at: https://riverwoodsrc.org/assets/2019/02/Insiders-Guide-Workbook.pdf
These will not last, contact a Senior Living Specialist today to learn more and see yourself at RiverWoods Manchester