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A
Continuing Care Community combines all the different levels of
care in a single "community." Some communities offer
everything in a single high-rise or several closely-connected
buildings. Others, where more land is available, may offer a
sprawling campus with tennis courts, swimming pools and other
amenities.
The
idea behind the CCRC is "life care" or "aging in
place." An individual can enter the community as an active
and independent retiree. As needs increase the resident can move
on to assisted living or Alzheimer's/ dementia care, and then
ultimately to skilled nursing - thus aging "in place."
This
arrangement is particularly attractive to couples who want to
remain as close as possible as one or the other may need more
care. All forms of care are usually within walking distance, and
the CCRC guarantees that all levels of care (aging in place)
will be available when needed.
The
CCRC can be fairly expensive. Entry fees sometimes range from
$100,000 to several hundred thousand dollars. Monthly fees are
assessed according to the level of care being provided and the
size of the apartment. Fees, of course, can increase yearly. The
resident will have no ownership equity in the apartment.
Contracts vary concerning the amount of the investment that may
eventually be refunded.
Keep
in mind that some CCRCs will only admit new residents who are
completely independent. Check with the community you're
considering on this point if you are thinking about moving in at
the assisted living or skilled nursing level.
Because
moving into a CCRC involves a large investment, it's advisable
to have your attorney do a thorough investigation. Check the
facility's accreditation status with the
Continuing
Care Accreditation Commission and also obtain a copy of the
most recent financial audit.
Even
if you don't need nursing care now take
a look at results of the most recent
nursing home inspection, just as you would for any other
nursing facility you might be considering. These inspection
results will give you a good idea of whether the nursing home
has a consistent track record of meeting basic standards. A
nursing home that has not met standards consistently may be
having some challenges.
If
your state licenses and inspects assisted living facilities, you
should obtain a copy of that most recent report, as well.
Read
the contract carefully. What is the refund policy if you decide
that the community isn't for you after you've moved in? Is there
a limited time during which you can make this decision? What
happens if the nursing home is full when you need it? If you
have to go to another facility until a bed is available in the
community nursing home, will transportation be provided for your
spouse to visit? What additional charges might you have to pay
that aren't included in the basic contract? What
guarantees do you have that the investment you're making is
protected against poor business management or some other
financial disaster that may befall the community?
For
those who can make the investment, a well-managed CCRC can
reduce or eliminate anxiety about future care. The residents who
appear to be the happiest in these communities are those who
chose well-established facilities with good track records. They
made the move when they were young and emotionally flexible -
and energetic enough - to make new friends fairly easily and
take advantage of the available activities.
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