The Americare product is a pre-paid contract in which a consumer purchases a designated number of hours of in home personal care at a price significantly below market rates for the services. The hours must be used within 365 days from the date of the contract; they do not “carry over” or extend beyond the contract term. The contract term is for the earlier of 365 days, or when all hours of services have been used. At the end of the 365 day term, the consumer is offered a new contract. The services available are listed in the contract.
There is no underwriting involved. All consumers are sold the contract at a standard price regardless of age or medical condition. The price-per-hour is determined by the number of hours purchased, but is the same for everybody who buys the same number of hours in a contract. There is no waiting period before a consumer is eligible for services.