|
One's physical and mental
health is often subject to review before a CCRC will approve
you for a contract.
There are different types of
entrance fee contracts:
- Extensive Agreement:
provides residents with lifetime access to health care
without an increase in the monthly service when care is
provided. It requires residents to pay a higher fee initially
with the assumption that they will utilize an increased level
of health care in the future.
- Modified Agreement: offers
the same access to health care, however residents only pay
for care as it is needed. The monthly service fee increases
as levels of care increase, although residents may receive a
discounted rate for the care and a specified number of days
of long term nursing care at no additional cost.
- Fee For Service Agreement:
residents may initially pay a lower monthly service fee than
with other types of contracts, however residents are
responsible for all costs of additional health care if they
are needed, without the benefit of resident discounts or any
free long term care days.
Some CCRCs may require
residents to purchase long term care insurance as a criteria
for acceptance.
Monthly fees may cover
provision of the following:
- Meals - number per month
may very by community
- Scheduled
transportation
- Housekeeping
services
- Unit
maintenance
- Linen and personal
laundry
- Health monitoring
services
- Some utilities
- Coordinated social
activities
- Emergency call
monitoring
- Round the clock
security
- Additional services that
may be provided in the community
I ndexing of increases in monthly
fees for services and care may be spelled out in the
contract.
Entry fees may be refundable
on a sliding scale within a short time after move in. Generally
the refund declines to zero after some period of
residency.
HAVE ALL CONTRACTS REVIEWED BY
YOUR LAWYER OR FINANCIAL CONSULTANT BEFORE SIGNING.
You may want to compare fees
for services and health care at a CCRC, to fees at Congregate,
Assisted Living and Skilled Nursing homes, to see how the the
costs match up on fee services. Keep in mind the guarantee of a
life-long place to live provided by contract at a CCRC.
Congregate, Assisted Living and Skilled Nursing Facilities,
make no such guarantees, and may ask you to leave when they are
unable to provide the care they deem appropriate for your
medical condition.
CCRCs are highly regulated in
some states but no federal agency oversees retirement
communities. The Continuing Care Accreditation Commisson
(CCAC), a private nonprofit organizaiton, accredits these
communities. The CCAC process is voluntary and takes 12 to 14
months. CCAC works with the community, reviewing its finances,
governance and administration; resident health and wellness,
and resident life. For more information contact the Continuing Care Accreditation
Commission www.ccaconline.org.
Hit the back key on the button bar to return to Senior
Resource.
CCRCs may be found in the
Yellow Pages under:
- Retirement
- Assisted Living
- Life Care
Communities
| 
