Do you know what a CCRC is? What about the different types of Life Care contracts? The answers to these questions are going to help find the right senior living community for you. Because half the battle is knowing what questions to ask, so that you can eliminate the unknowns and determine which community best fits your needs. We can help prepare you for your search by equipping you with the knowledge you need to simplify the process.
What is a Continuing Care Retirement Community (CCRC)?
Maintaining your health and well-being is the most important thing you can do as you enter the later years of your life. A continuing care retirement community (CCRC) seeks to provide peace of mind for older adults who decide to spend their golden years in their community, ensuring they have access to different levels of health care should they ever need them. Assisted living, memory care, skilled nursing and rehabilitation are among the services a CCRC might provide for their residents, affording them peace of mind that they’ll be taken care of as they age.
Life Care Contracts Explained
To become a resident of a CCRC, also known as a Life Care community, you first go through an application process and then sign a contract. The contract outlines the services and amenities that you are entitled to as a resident, in addition to explaining the one-time entrance fee and the monthly fee that will be charged. The terms of your contract will differ depending on what type of contract you are signing, and there are three primary types:
- Type A. This is the most all-inclusive of the three contracts. It entitles the resident to unlimited access to additional levels of care within the community for little to no change in monthly costs.
- Type B. Rather than unlimited access, the resident has access to health services at a fee-for-service discounted market rate or a fixed number of “free” days, with a lower entrance fee.
- Type C. The resident has access to the same basic services and amenities, but additional levels of care, if needed, will be charged at fee-for-service full market rates.
Questions to Ask of a CCRC
The amount of information available from a CCRC can be a lot. To make gathering information simpler and easier for you, we’ve compiled a list of questions that you should be asking any CCRC as you determine whether or not their community is right for you.
What type of contract do you offer?
We have covered the different types of contracts offered by CCRCs, but not all CCRCs will offer all three types of contracts. At Edgemere, we offer Type A contracts to prospective residents. Of course, you want to find a community that suits your lifestyle, but it is also critical that you find a CCRC with a contract type that allows you to live within your financial means.
What is your entrance fee and what does it include?
Every CCRC charges a one-time entrance fee, but not all entrance fees are created the same. What exactly does your entrance fee pay for? That’s what you should be asking your CCRC. Generally, entrance fees are calculated based on the size of residence and the number of occupants, but the money can also be used to cover different costs of living.
What is included in your monthly service fees?
The entrance fee may be a one-time fee, but don’t forget about the monthly service fees. Transparency is of the utmost importance when it comes to your monthly fees. Every CCRC should be willing to outline what specific services and amenities are covered
What services are available on-site?
What health services are offered within the community? The general services, like weekly housekeeping and concierge service, are an important part of the experience, but your health and well-being comes first. While you may not require a greater level of care right now, you want to make sure that health services are available to you should you need them.
What living arrangements are available for each level of care?
Depending on what health services are available within the CCRC, it is worth checking to see what the accommodations are for each level of care. If you required memory care or skilled nursing, for example, would you be able to live in an independent living apartment? Or would that care have to be provided in another area of the community?
What if my spouse and I require different levels of care?
There’s no way of knowing what the future holds for you and your spouse. You both may be able to live independently at first after moving into a CCRC, but that can always change. Be sure to check with a CCRC to get a better understanding of how they manage the situation when a resident requires a different level of care than their spouse. You may have to move to another area of the community to stay together while one receives the specialized care they need.
Benefits of Edgemere’s Life Care Community in Dallas, TX
If you want to live in luxury at a Life Care community, accept no substitute for Edgemere, where we place an emphasis on providing an active and engaged lifestyle for our residents. Among the first-rate services and amenities are spacious residences, concierge service, a modern fitness center and indoor heated pool, a private movie theater and more. Beyond that, our residents also have access to a host of health services. Not only do we provide for their everyday needs, we also take care of their health and well-being now and into the future.
If you’d like to learn more about our Life Care community, let’s chat! Fill out the form below or give us a call at 214-265-9100.