Iv Admissions And Resident Characteristics
Few studies have been done on exactly what type of people CCRCs attract. There do, however, appear to be some basic trends in resident characteristics when the admission criteria of most CCRCs are considered. Because communities assume risk for providing long-term care, they take certain measures to determine the chances that a resident will use more in long-term care than what he or she pays. Admission criteria, which include assessing such characteristics as income, health, age, gender, and marital status are one way in which CCRCs gain a better understanding of how likely it will be that a resident will need extremely expensive medical care over the amount paid.
One study found that CCRCs rejected 50 percent of applicants for health reasons and 39 percent for financial reasons in 1988. CCRCs offering extensive contracts were more likely to reject applicants for health reasons, most likely because they are at full financial risk for their long-term care .
B Benefits Of Government Regulation
Promotion of Financial Stability
Regulation, such as reserve requirements and at least 50% occupancy before construction, are intended to assure that a CCRC is financially capable of maintaining itself. It pushes a CCRC to have on hand at all times enough funds to handle unexpected problems, rather than simply spending as new entry fees are received. Regulation also attempts to guarantee that there is sufficient demand for a CCRC before it is constructed. These standards protect residents, who most often have invested their life savings into a community, by warding off any potential for bankruptcy.
Protection of Quality Services for Residents
As regulation protects the financial stability of a CCRC, the quality of a residents surroundings may also be secured. “If any community is undercapitalized, or too small, or fails to project future costs accurately, its residents may suffer” . CCRCs that are in financial trouble often cut back on maintaining the grounds and extent of services within their community. Therefore residents suffer the effects of poor financial management through a loss of quality services, although the CCRC may not be at a point of bankruptcy.
Discouragement of Unsatisfactory CCRCs
B Importance Of Related Issues
Despite the overall positive outlook for CCRCs, some problems have arisen which cast doubt on the assertion that the industry is now completely stable. Issues such as affordability, managed care, and regulation have been identified factors affecting CCRC growth and improvement. Therefore, it is of interest to gain not only an understanding of the internal structure of CCRCs, but also to learn more about the matters surrounding them–matters that may effect their long-term success.
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Not All Life Care Contracts Are The Same
For thousands of older adults, CCRCs are a compelling option. More than 750,000 older adults live in CCRCs, according to the American Association of Homes and Services for the Aging. While these communities are similar in offering the full continuum of supportive services, their financial agreements that dictate how future care is paid for can vary greatly. Continuing Care Retirement Communities that offer a Life Care contract provide the most extensive coverage, but theyre not the only type of CCRC agreement. At The Vista, we offer a choice of contracts to fit each persons personal and financial preferences, including Life Care and Fee-For-Service.
A Ccac As A Surrogate For Regulation
The CCAC has adopted basic standards which focus on finance, governance, residential life, and health care. In order to qualify for accreditation, CCRCs must perform self-evaluations that focus on these aspects of operation, as well as undergo inspections from the CCAC. CCRCs must be recertified every five years and submit annual financial statements in the interim . Only 207 CCRCs meet the stringent financial and health requirements .
“The CCAC standards have three major purposes, which are to assist a CCRC in developing, interpreting, improving and evaluating all components of its operation, to provide the basis for accreditation decisions, and to assure consumers that the CCRC has met pre-determined standards” . This final purpose attempts to ease the concerns of those who promote government regulation. Through self-regulation, CCRCs hope to raise the standards of the industry and to provide assurance to consumers about the physical and financial security that they can expect in a CCRC.
Despite the relatively high standards for accreditation, the CCAC does not require that accredited CCRCs guarantee long-term care coverage throughout the lives of their residents. Only if benevolent care is part of a CCRC’s mission statement, will the CCAC assure that a community provides coverage until the end of a resident’s life .
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Oakmont Of Cardinal Point In Oakland Ca
Oakmont of Cardinal Point offers a range of living options, including apartments, studio apartments, and companion suites. Continuing care prices start from $3,995/month, with all-inclusive rent and an entry fee of $2,150. This community features a wide range of amenities and services, including housekeeping, technology integration, and associated healthcare and financial services. The resident capacity is 144 and small pets are allowed.
Who Should Consider A Ccrc
CCRCs are a good option for older adults who value security. No matter how your loved ones health changes down the line, their needs will be met and theyll never have to move. That can bring both of you tremendous peace of mind. A CCRC can also be an ideal choice if youve noticed your loved one is becoming socially isolated as they age and you know they would welcome an opportunity to make new friends and participate in group activities.
On the other hand, if your loved one values independence over security, continuing care may not be the best option for them. Joining a CCRC requires residents to hand over a large chunk of their assets to secure a spot, which they might not be prepared to do. Furthermore, CCRC administrators will play a big role in deciding when your loved one needs to move from one level of care to the next. Your loved one might dislike, or even feel threatened by, having the taken out of their hands and giving a stranger that kind of control over their life.
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What Services And Amenities Are Provided In A Ccrc
Most CCRCs provide 24/7 security service and an emergency call system to all residents, no matter where they reside. Many also provide convenient access to numerous services and amenities residents want or need. The costs for most of these services are included in the monthly fees paid under the residents contract except for Type C contracts, which may require additional fees for certain services.
Under a typical Type A or Type B continuing care contract, your loved one will likely receive access to basic services such as:
- Three meals a day
Whats Offered At A Continuum Of Care Retirement Community
A continuum of care isnt a universal feature in all retirement communities, so understanding the options in this spectrum can help you determine if its best for you!
At OceanView, our independent living options are unique in variety and are designed to promote an active lifestyle. Services can include anything residents want or need, from dining and housekeeping to wellness programs and transportation!
Housing options we offer for independent living include:
Main Lodge Proper Beautifully renovated apartments located in our Main Lodge, in the same building as our grand dining room, game room, library, and Wellness Center.
Main Lodge Expansion Luxury apartments complete with fireplaces and balconies, several of which boast views of the breathtaking Presumpscot River Estuary and Casco Bay.
Hilltop Lodge Spacious apartments that conveniently reside in the same building as our fitness studio, screening room, and underground parking garage for easy indoor access.
Schoolhouse Cottages Airy cottages with 2 bedrooms, 2 bathrooms, gas fireplaces, all-season sunrooms, and patios. They can also include walk-out basements and 2nd floor lofts depending on your preference! All have solar panels and come with generators.
Cottages I, Cottages II & III Cottages with the option between two efficient and spacious floor plans, ranging in size and layout. They are complete with heated garages, screened-in porches and/or sunrooms.
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Beacon Hill Eastgate In Grand Rapids Mi
This active retirement community offers assisted living alongside continuing care, with a range of apartment sizes available to choose from. Skilled nurses are available at all times, and medication management is also included. Beacon Hill Eastgate includes housekeeping, laundry, and recreation features such as the pool and garden.
What Is A Continuum Of Care In Senior Living
If youre like many older adults approaching retirement, you may assume all retirement communities are more or less the same. However, as you dig into exploring your senior living options, it quickly becomes apparent there are many different levels of care you can access in a retirement community. Some offer one or more levels of senior care others provide a full continuum of care to meet your needs now and in the future.
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Your Loved One Wants Stability
Choosing a CCRC makes it less likely that your loved one will have to move every time they need to change their housing or level of care. You want to minimize the number of times a frail older adult has to move, says Dr. Suh.
Even though your loved one might have to move to another apartment in assisted living or a skilled nursing room as they age, they will still be in the same community with which they have become familiar. This can provide the stability they crave.
The Benefits Of Choosing A Continuum Of Care Retirement Community
There is no shortage of choices for seniors when it comes to retirement. Continuum of Care Retirement Communities are an important option to consider as they provide several essential benefits. CCRCs are retirement communities that include independent living, assisted living and skilled nursing. Below is a list of some of the substantial benefits that can be found by choosing a Continuum of Care Retirement Community.
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How Much Do Continuing Care Retirement Communities Cost
According to CBRE Group, a U.S. commercial real estate firm, the average CCRC entrance fee is $329,000.2 Monthly charges can range from $3,000 to $5,000 but may increase as needs change.3
The entrance and monthly fees seniors pay in a CCRC guarantee housing and medical care. In comparison, older adults choosing to age in place in their current home may face unexpected and exorbitant healthcare costs. CCRCs provide peace of mind that aging in place at home does not.
How Much Does A Ccrc Cost
There are several factors that determine the price, like the floor plan, care level and contract you choose. Plus you have to decide if you would prefer to go with the rental model or move into a Life Care CCRC. Each one has its own unique list of perks and benefits, and they each have their own price tag. The good news is there are options for everyone.
You can learn more about how we determine the price on our CCRC Costs page.
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Wind Crest In Highlands Ranch Co
Wind Crest provides a comprehensive range of services in a maintenance-free community designed exclusively for retirees. Like many communities in this area, this facility is high-end and uncompromising. Wind Crest offers access to licensed geriatricians, with these experts more than capable of meeting the unique healthcare needs of older Americans. Amenities include a computer room, creative arts studio, beauty salon, and classrooms just to name a few.
Skilled Nursing And Rehabilitation
Skilled nursing and rehabilitation facilities are typically short-term, acute care solutions that provide 24/7 care for residents. This care solution is designed to help residents recover from medical setbacks such as an injury, surgery or health issues, such as a stroke or heart attack. Skilled nursing and rehabilitation can be especially helpful and increase safety after a hospital stay.
During your stay, the staff will provide medical treatment and rehabilitation activities such as physical, occupational or speech therapy. Residents staying at a skilled nursing and rehabilitation facility are also provided with a variety of enriching, enjoyable activities to improve their quality of life. This level of care is designed to help residents make a full recovery before they return to their independent or assisted living community.
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Things You Didnt Know About Paying For A Ccrc
Older adults are increasingly embracing the idea of living in retirement communities. According to USA Today, more than 600,000 older Americans like the idea of getting settled in a community and staying there if their care needs change. In a continuing care retirement community, residents can move within levels of care while staying in the same community. At CCRCs, these levels of care include residential living, assisted living, skilled nursing and memory support.
The appeal of getting and staying settled is easy to understand, but understanding how to pay for a CCRC can be confusing.
How do the rates differ from other kinds of senior living options, such as assisted living homes? What does a monthly fee cover? What does a CCRC entry fee cover? Why do you need to pay one, and what happens to that money if you leave a community or pass away?
Here are three things you may not know about paying for a retirement communities.
Fact 1: There are several financial advantages to a CCRC.
1) If you move at an appropriate age, then amortize what youd pay over, say, a period of 20 years, its often cheaper over the long term, says Dan Ogus, executive vice president and chief operating officer of HumanGood, a nonprofit provider with more than 80 senior living communities in five western states.
Fact 2: You are protected.
Fact 3: There are multiple ways you can afford a CCRC.
Choosing The Right Continuing Care Retirement Community
While CCRCs are becoming increasingly common across America, they are more numerous and best established in the Southeast, where the CCRC movement originated. Geographic location may be one of the most important factors for a senior, especially if maintaining close family contact is a priority. There may be a lengthy waiting list at some CCRCs, which also may be a deciding factor in choosing one over another.
In addition to location, you should be assured that your loved one will receive a full complement of amenities. Make sure that if a CCRC is what a senior wantsan establishment that provides a full range of care options in one locationthat is what theyre actually getting. Some senior residential arrangements may not include nursing home facilities, so if a resident becomes unable to remain in their current housing, they will be forced to leave the community for a nursing home in an unfamiliar place. This is particularly important because significant financial obligations on the part of the resident are involved and they may not be getting what they think theyve paid to receive.
Beyond being pleased by the surroundings and feeling at home with the staff and residents, there are some harder questions to ask. Do residents have a say in determining what services are provided by the CCRC? Does the CCRC staff help its residents arrange for services that they may not be able to provide? How are resident complaints handled?
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Continuum Of Care Services In A Retirement Living Community
Life Plan Communities offer a continuum of care to seniors through independent living, assisted living, and skilled nursing. The more comprehensive communities also offer memory support services and rehabilitation.
Heres an overview of the services offered at each of those points on the spectrum of care:
- Independent Living. Services include dining, housekeeping, transportation, laundry services, lifestyle and wellness programs, and events. Learn more about independent living here > >
- Assisted Living. For seniors who need some support with daily living activities, assisted living provides assistance with dining, bathing, dressing, toileting, and ambulation. There is also access to health and medical services. These services are typically in addition to independent living services such as dining, housekeeping, events and transportation.
- Skilled Nursing. For residents who need long-term care , skilled nursing gives assistance with dining, bathing, dressing, toileting, and ambulation, as well as access to round-the-clock health and medical services. As youll find with assisted living, these services are on top of the lifestyle and wellness services and amenities offered at the community.
- Memory Support. If someone has memory issues, memory support can provide the necessary services with programs designed for people with memory loss or dementia. Residents also receive assistance with activities of daily living.
Regal Palms In Largo Fl
With big aquariums and tropical fish on-site, this community almost has a resort-style feel. Features include a computer room, party space, pool and spa, and garden and patio among many others. At Regal Palms, rent is all inclusive when it comes to living costs. There are multiple types of care available, including dressing and grooming, bathing, exercise, memory care, and meal preparation among others.
How To Find A Continuing Care Retirement Community Near Me
Oftentimes, people don’t realize there are CCRCs close to them. That’s a good thing because it means the location is doing a fantastic job creating a modern, residential area that looks and feels just like a traditional home. However, most communities do offer CCRCs. Because they can cost a bit more than other types of senior living care, they are often found in communities with a higher net worth or in areas with a larger population of older adults.
From the outside, CCRCs look like larger developments. Many offer a one-stop-shop type of living setup, which means you may notice single-family homes or townhomes alongside nursing facilities or assisted living areas. If you or a loved one are considering moving to a CCRC, search our database for senior care providers in your neighborhood.
It’s imperative to protect yourself and your finances. Contact your state’s Department of Community Affairs along with the Administration on Aging long-term care Ombudsman program for information on what statutes and regulations are in place for CCRC consumer protection.
For more information on CCRCs and how they compare to other types of senior living, watch the video below with our editor-in-chief, Jeff Hoyt.