Oak Hammock Contract Options
Living the Maintenance-Free, Worry-Free Lifestyle
Life at Oak Hammock means you get to enjoy all of your favorite activities, groups and amenities without worrying about the landscaping, housework, maintenance or any future health care needs. Living in a Life Plan Community allows for a one-time entrance fee and ongoing monthly fee providing for all of this plus the peace of mind that comes from having health care for life.
Once you become an Oak Hammock resident, you are guaranteed access to long-term care, should you ever need it. Making the move to our community is an investment in a secure future. Because you are purchasing long-term care at today’s costs, you will be protected against rising health care costs in the future.
Options That Fit Your Budget
Oak Hammock has numerous options that enable you to choose the plan and the home that fits your lifestyle and budget. In addition to our standard plan, Oak Hammock offers 50% and 95% refundable plans, which are equity replacement plans to enable you to either recoup a significant portion of your entrance fee if you leave the community, or for planning it can be left to your estate.
Our senior living consultants will help you choose from one of four contracts:
- Life Care – the most comprehensive benefits and protection plan
- Lifestyle 1 & Lifestyle II – attractive alternatives offering lower entrance fees
- Health Reserve – complementing your existing long-term care plan
The basic difference between each of the contracts is the cost of the one-time entrance fee and the amount you will pay for long-term care in the Health Pavilion, if you ever need it. The higher the entrance fee (Life Care contract), the less you pay for long-term care. The lower the entrance fee (Lifestyle 1 & Lifestyle II), the more you pay for long-term care.
Oak Hammock contracts have a broad price range, depending on the size of the residential unit and the type of insurance being offered. First person entrance fees on a standard Life Care contract range from approximately $200,000 to $700,000. Monthly fees for a single person range from $2,700 to $7,900.
The first five months following the signing of any contract at Oak Hammock is known as the introductory period. Should you decide to leave Oak Hammock for any reason during this time, and the contract is terminated, you will receive a refund on 96 percent of the total entrance fee.
To learn about which plan is best for you or to schedule a tour of our community, call 352-231-8600.