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Continuing Care Retirement Communities 01/19/2008 - By Staff 55CommunityGuide.com
CCRC
A Common Sense Housing Solution for Seniors
Major changes in life are seldom easy, and it’s particularly stressful for everyone concerned when an older family member begins having trouble caring for him or herself. In years past, family members had two options -- either struggle to care for older relatives at home or else resort to expensive (and frequently inadequate) nursing home care. Even today, in many cases, healthy spouses end up ruining their own health because of the relentless demands of caring for an ailing partner.
Fortunately, America’s growing population of senior citizens has sparked an increasing number of options for these post-retirement seniors and their families. One of the most popular choices, developed within the last several decades, is the Continuing Care Retirement Community, or CCRC. These communities are different than other types of housing for older adults, since they provide customized living quarters, personal care services and health care all at one location. The goal is to allow the tenants to “age in place,” meaning as their medical and personal needs change, they still are able to stay in one dwelling and live amidst their peers. They also provide the considerable bonus of allowing older married couples to stay together for a longer period of time, even if only one partner’s health is failing. Over time, if a spouse requires more acute care, he or she can be moved to a different unit within the facility, while the spouse remains nearby.
What Do CCRCs Provide?
Flexibility is a key element of CCRCs, most of which offer different types of housing arrangements within the same complex, everything from townhouses and separate cottages to individual studio apartments for tenants who need more assistance. For many seniors, moving to this type of facility provides a welcome relief from daily stresses such as having to care for a lawn, maintain a home, perform arduous housekeeping chores or even prepare meals.
CCRCs typically provide a combination of services, including nursing and other health-care services, housekeeping, meal preparation, a central dining room, home maintenance, security, recreational areas, scheduled social activities and on-call emergency assistance. Occasionally, transportation, laundry, haircutting and other personal services also are provided, sometimes for an additional fee.
What Must Tenants Provide?
Individuals who are considering entering a continuing care retirement community must be over age 65 and must consent to a full physical exam performed by their own physician or one selected by the facility. This information is used to help CCRC employees determine what future health care needs the applicant is likely to require.
Also, applicants must provide an extensive financial disclosure statement which is subject to verification. From this information, it can be determined whether or not the individual has enough income and assets to cover the entrance fee and monthly service fees. Further, the resident usually must sign an agreement that he or she will not deliberately deplete those assets once they have moved into the facility.
Finally, some facilities require that residents have insurance coverage, such as Medicare Parts A and B, or perhaps supplementary health insurance policies and/or long-term care insurance. Residents also will be responsible for their own personal property insurance. If they still drive, they are responsible for all automobile-related costs, including insurance, as well.
Payment Options
There are no standardized fee scales or other regulations as yet, so each individual CCRC must be investigated individually. In most cases, tenants pay an entrance fee when they move in to a facility, plus a set monthly fee which includes all utilities (except telephone and possibly cable television service). Depending upon the facility and the region of the country in which it’s located, CCRC fees can range from $800 to $3,000 per month. The initial entrance fee is usually refundable and may apply toward rental costs. However, these are usually quite expensive, often as much as $10,000 on up to $100,000 or more. Again, though, the industry is not standardized, and many facilities will work with clients who cannot afford these costs, either by waiving an entrance fee or making other payment arrangements. Whatever the arrangement, there will be a written contract between the tenant and the facility that should be clearly outlined and understood by both parties.
Each individual facility offers its own unique package of services, which makes it important that any future tenant and his or her caregivers be clear up front about what services are included at any specific facility, and what services are available for an additional fee. The specific service package a potential tenant needs and desires will determine whether he or she is able to live in independent housing or requires a unit with a higher level of support.
Some CCRCs offer pre-paid insurance that’s included in their fee; other institutions may require that tenants purchase health care insurance privately. There may be a flat fee that is paid no matter whether the tenant is living in independent or supportive housing. Others vary their rates, depending on what type of environment is being provided, and a tenant who moves from independent to supportive housing may be required to pay a higher fee down the road.
To help out, some CCRCs offer a partial pre-payment arrangement that guarantees nursing care for a specific number of days; beyond which the resident is responsible for all costs. Others guarantee only that medical personnel are on call, and residents must then pay for their care on a fee-for-service basis.
Whatever option is best, it’s critical that residents and their caregivers have clearly spelled out, in writing, exactly what fees will be charged, what services will be provided, and what accommodations will be made if the tenant’s condition deteriorates.
Where Can I Find Out More?
Most communities have some type of assisted living facility, and information can be obtained from local Area Agencies on Aging, Elder Care Services, and your state’s Department of Health & Human Services or State Corporation Commission. You can also get referrals from your local hospital, doctor or other health care personnel. Of coarse, search our Continuing Care Retirement Communities.
Copyright 2008 55CommunityGuide.com
