A Continuing Care Retirement Community or CCRC's, provide a lifestyle for seniors that changes with them as they get older. In recent years, CCRC's have really adapted to this growing demographic by providing a variety of options for their continuing care as they age.
Typically, a senior aged 65+ enters the CCRC in an active state of health and mobility, with the expectation they will live there for the remainder of their lives. A Continuing Care Retirement Community can provide care across all aspects of life from independent living, to nursing or specialty care as they grow older. They also provide an opportunity to socialize and get involved in extracurricular programs.
In order to enter a CCRC, seniors will go through a financial review and health assessments, with payment plans and in some cases, life care agreements.
LIFE CARE AGREEMENTS
A life care agreement provides a lifetime use of the community, and depending on which contract is chosen, a person can live there for life even if money runs out. This popular senior living model provides peace of mind in planning long term care.
HOW TO GET A LIFE CARE AGREEMENT
CCRC's have many payment options and after careful review of financials and health assessments, a life care plan is designed to best meet the needs of residents.
HOW MUCH DOES A CCRF COST
Cost depends on what type of unit is desired. A larger unit facing desirable views occupied by more than one person will cost more. Here is an example of a Continuing Care Retirement Community we have reviewed:
Entrance Fee – Life Care Agreement
Bayview Retirement Community
$139,000 – $324,000
Based Upon plan chosen for a refund
WHAT IS INCLUDED IN THE PRICE
- Daily living services
- 24-hour security
- Wellness/Fitness Programs
- Social Programs
- Utilities – except phone
- 1-3 Meals each day
WHAT HAPPENS TO THE EXTRA MONEY IF I LEAVE EARLY
Most facilities offer a refund the resident or to their estate in the event they should move out or pass away before the contract runs out.
Moving into a CCRC means that people are able to meet other like-minded people. The activities and programs provide a way to expand on a talents like playing the piano or painting. Loneliness is one of the hardest parts about getting older, and these retirement facilities can provide a much needed boost to heart and soul.