There are many options in retirement living for seniors. As the aging population grows, demand for senior living is increasing. Even if you aren’t ready to make your move just yet, it’s good to know your choices so you can plan accordingly. One type of retirement living that has been growing in demand is known as a Continuing Care Retirement Community (CCRC), or a Life Plan Community.
What is a CCRC?
A CCRC usually sits on a larger campus with an array of amenities such as walking paths, work out facilities, and fine dining options. Some are gated communities with water features and offer a resort like lifestyle. CCRCs provide several levels of housing and care assistance to its residents who are also known as members.
You typically enter into a membership contract or written agreement that would offer you a continuum of care—meaning you are guaranteed an independent home or apartment, all the services and amenities available to the active community, and assisted living care, memory care, rehabilitation, and/or additional care, should you ever need it.
Many people choose a CCRC to enjoy the active, enriching, and independent lifestyle they are seeking now, while also gaining great comfort in knowing their future care is already secured.
Due to future care being wrapped into the initial contract, it is essential to ask the right questions when touring a CCRC.
8 Must-Ask Questions of a CCRC
- Is the CCRC financially sound? Is financial information transparent and easily provided to you?
- What are the fees, and how do they change as my health care needs change?
- Do the entrance and/or monthly fees cover any medical or health coverage? If so, what?
- Who manages the CCRC, and how accessible is the management?
- What are the credentials of the health care facilities?
- Who makes the decision to move a resident into the next level of care? The resident? The resident’s family? Doctors?
- What happens if I need assisted living or nursing care, but there are no rooms available within the community?
- What happens if my spouse needs the next level of care, but I do not?
While you are touring retirement communities, keep in mind that with the growing population of seniors, many senior housing options are filling up quick and already have waiting lists.
Even if you’re not sure now is the right time for a move, it’s never too early to get a plan in place. Don’t wait until your options are narrowed down for you.
