Understanding the costs and frequently asked questions

Frequently asked questions

A resident may be entitled to receive government funding, also known as a

Residential Care Subsidy or a Residential

Care Loan, depending on the Work and

Income financial assessment.

For more details see under the ‘Check list’ in this Brochure, (page 11). We’ll work closely with you to help ensure everyone gets what they are entitled to.

4. Weekly fee

 The ORA requires a resident to pay a weekly fee as a contribution to the costs we incur in operating, managing and providing services to the village.  However, we will offset the cost of your weekly fee against a portion of the Accommodation

Rebate you pay for your care.

This means that you do not actually have to make a separate payment to us for your weekly fee.

How do these costs compare with a non-LTO dementia care room from other care providers?

A Licence to Occupy (LTO) Summerset memory care apartment is comparable to the cost of a dementia care room (non-LTO) which other care providers offer*. In the DMF example (page 13), the daily cost for a $350k licence payment translates to $80 per day over three years.** Summerset memory care apartments also come with a lot more advantages than a single dementia care room. A memory care apartment has a much larger room and includes additional facilities. Other benefits include:  Cost certainty – not subject to increases in the premium charge.  Home for life, you’ll have a choice of large, open plan homes to suit your needs and to personalise (no moving room to room).

*for comparison we have used the highest daily premium room charge for a dementia care room found in the market (as at October 2019) ** the daily cost is calculated by the cost of the DMF over the applicable term per day over three years. The daily cost does not include the cost of the licence payment (which is refundable) or the cost of the Residential Care Maximum Contribution.

Are there any other costs which I would need to pay for?

This depends on any additional services required. For example; phone and broadband, subscriptions such as SKY TV, and personal costs for the hairdresser, podiatrist, physiotherapist, or hearing and dental services.

Is a deposit required?

A memory care apartment can be secured by paying a fully refundable $3,000 deposit and signing an ORA. This deposit is held by the Public Trust and is paid when the sales application is signed. The deposit is refundable at any time prior to settlement. Any interest accrued on the deposit will be paid if the deposit is refunded.

Can a resident transfer to a memory care apartment if they already live in a Summerset village?

Yes of course, based on availability. We always give priority to our existing residents if they need access to our care facilities. The resident will need to be assessed for secure dementia care. Existing residents living in a Summerset villa, apartment or serviced apartment for two years or more will receive a 50% reduction in the DMF (which will accrue on a 2.5%/5%/5% basis). Please ask your Sales Specialist - Care about our resident friendly transfer policy.

Frequently asked questions

Does the Summerset Sure policy apply to memory care apartment?

Summerset offers a ‘love it or your money back’ promise*. If a resident decides that a Summerset memory care apartment is not right for them, they can cancel the ORA up to 30 days after taking possession of the memory care apartment. We will refund the licence payment in full, without deducting any DMF.

*Terms and conditions apply

Notes Please make any notes on this page.

Where you can get more support and information about dementia

Work and Income – 0800 999 727 NASC – www.nznasca.co.nz Dementia New Zealand www.dementia.nz Alzheimers New Zealand www.alzheimers.org.nz Ministry of Health www.health.govt.nz

If you’d like more information, please don’t hesitate to call us on 0800 786 637 or visit summerset.co.nz