An Overview of Continuing Care Retirement Communities
What are Continuing Care Retirements Communities?
As we age, it is important to have a plan. Looking to continuing care retirement communities (CCRCs) is certainly not a bad place to start, but it is important to understand what exactly these types of retirement communities can offer you. Briefly, CCRCs are a gradual program in which individuals are able to enter the communities when they are capable of independent living and, as they age and require more help and attention, slowly increase their care to assisted living, skilled nursing, rehabilitation, nursing home living, and other steps in between that vary from one retirement community to the next. The primary attraction of CCRCs is that you can move through these different stages of independent or assisted living without leaving the community that’s now your home. All the care you need, short of hospitalization, is within your community
How to Start Planning and Good Questions to Have
The first thing that you need to consider, like much else in life, is cost. To get into a CCRC can cost as much as $1 million. Not to mention, oftentimes you are asked to enter into some sort of contract. The contracts vary by price and other terms but in the end typically offer the same thing: the opportunity to advance within the CCRC into a higher level of care when you need it. For example, the “best” contract offered by the CCRC may ask you to pay monthly for unlimited care at any level. The contract below that may offer you services at all levels, but only for a specified length of time. These types of contracts impose ongoing and very substantial financial obligations It is important to read these contracts carefully, as sometimes the information can be complex and confusing. You may be well-advised to consult with a lawyer before signing anything.
As you start to plan for the future, think about are your immediate and longer-term needs. Much like the contract options, each CCRC offers different amenities and perks. Because of this, it is good to understand what you may want or need out of your housing arrangement and staff resources. Some things you’ll want to give serious consideration to include the basic atmosphere of the community, dining facilities, sense of community, education and training of the staff, visiting hours, transportation assistance, security, and anything else that seems important to you. No question is a bad question; this could be your home, after all.
How Soon to Start Planning
Some people have already started planning, some are just beginning, and some will probably never get around to it. Wherever you or a loved one may be regarding plans for the future, be sure to be thorough in your research of the community and very careful in signing any contract or commitment. If you have any questions or feel as though you have been treated unfairly in regard to a CCRC, be sure and consult with an attorney right away.
If you or a loved one has experienced any continuing care retirement community problems in California, contact the Evans Law Firm elder attorneys at (415) 441-8669, or by email at firstname.lastname@example.org. Our attorneys have experience with complex financial contracts and large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We handle cases involving physical and financial elder abuse, qui tam and whistleblower law, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.