There comes a time when older adults may want to transition to a retirement community. Continuing care retirement communities (CCRCs) offer comprehensive options for residents, whether they want daily living assistance or to live independently.
Knowing your options is important before deciding which community to move into. Here are the top 10 questions to ask when touring a CCRC.
Understanding housing arrangements helps you make a choice based on your needs and preferences. CCRCs offer the following options:
CCRCs can accommodate couples with differing medical needs. While exploring communities when both individuals are still in good health is recommended, it’s also possible to enroll in the community when one or both need more intensive care.
According to the Housing for Older Persons Act (HOPA), CCRCs can be intended and operated for adults aged 55 and older (for 55 and over communities) or solely for older adults 62 years and up.
An important, if not the most important, question for a CCRC representative involves entrance fees. Communities require upfront entrance fees that cover housing and lifetime medical services. Entrance fee costs vary depending on the location, housing, level of care needed and contract. Signing over personal assets, however, is not a requirement. Clarify the pricing schedule before making a commitment.
Monthly CCRC fees cover the cost of living expenses for the residents — meals, housing, utilities, amenities and maintenance. In most cases, it also covers entertainment and recreation costs.
CCRCs typically offer entry fee refunds to the residents or their heirs. Depending on the contract, refunds are sometimes issued on a declining-balance refund basis over the first few years of residency, while others offer a 75% minimum refund. Whatever the case, understanding refund policies is essential.
Long-term care insurance (LTCI) can cover the cost of CCRC living. An LTCI may cover the cost of care if the individual cannot perform at least two activities of daily living — eating, personal hygiene, toileting, dressing or ambulating — without assistance. Review your personal insurance policies to see if they might offset the costs of CCRC living.
Most CCRCs offer a wide range of amenities to help residents maintain their quality of life. Many have state-of-the-art fitness centers and wellness programs. Some have pools, golf courses, billiards and game rooms, while others offer micro-communities catering to different interests. Some CCRCs publish a schedule of activities and events to promote social engagement among residents.
Comprehensive health care services are often available in these communities. Whether you need memory support, personal care or post-surgery rehab, an option is often available. Skilled nursing services are also an option. Many CCRCs remain in touch with a medical center for emergencies.
Assessing a CCRC’s financial viability should be a key part of your selection process. Knowing they’re able to provide a long-term continuum of care to every resident is crucial. Some factors to ask about are the retirement home’s occupancy ratio, bond ratings, cash flow from operations and anticipated revenue. You might also want to ask about their history and resident satisfaction to gauge the community’s reputation.
CCRCs typically offer campus tours to give older adults a firsthand feel of the community. Schedule a visit to the communities you’re interested in, and talk to residents for honest feedback.
With these questions, you’re ready to discuss your needs with a CCRC representative during your visit. Remember, you’re looking for a place to spend the rest of your life in, so you want it to be a perfect match.
Frederick Living has served people in Montgomery County, Pennsylvania, for more than a century. Contact us with questions, or register for one of our monthly group tours and luncheons to discover if our community is right for you.
