 When one or both parents begin needing more assistance at home, it may be time to begin asking whether some alternative arrangements might make sense. Continuing care retirement communities may be one option. CCRC’s accommodate a range of needs from mostly independent living to more hands on assistance in the form of nursing visits and meal deliveries.
Making such a move, however, is a big decision and one to be made carefully. Part II of this excellent article, provided by A Place For Mom, a referral service for assisted living, Alzheimer’s facilities and more, is an excellent resource for things to think about when considering if a CCRC is right for your parent(s).
CCRC Financial Facts
When a person commits to CCRC living, he signs a continuing care agreement. A lawyer or financial advisor should review this document first, as it is a legal contract between the resident and the CCRC. According to the AARP, the contract should cover:
• residences,
• fee schedules,
• health care coverage,
• cancellations and refunds,
• services,
• insurance requirements,
• conditions for transfer within the community to other levels of care,
• and a description of the CCRC’s responsibility should a resident become unable to pay fees.
Every contract should have a clause about refundability. If a person leaves a CCRC, she often loses part or all of her entrance fee, depending on how long she has lived at the CCRC. According to Juhkentaal, most continuing care retirement communities offer multiple agreement choices and people can choose based on degree of refundability.
There are typically three fee schedule options at a CCRC: - Extensive Contracts, the most expensive agreement, give residents unlimited access to healthcare with little or no increase in the monthly maintenance fee.
- Modified Contracts also offers residents unlimited access to healthcare, but residents pay for healthcare as needed, with monthly maintenance fee increases to cover healthcare needs. Often the healthcare costs are offered at discounted rates.
- With Fee-For-Service Contracts, residents pay for all health care costs separately. Although this can initially be the least expensive contract, it can be quite costly if a resident eventually has extensive health care needs.
Continuing care retirement communities may also offer residents a certain number of skilled care days each month without raising the monthly maintenance fee. (Sometimes this is a part of the modified contract schedule option.) For example, Rockwood South residents receive ten free days a month of skilled care.
Juhkentaal notes that potential residents need to have a thorough understanding of how a CCRC applies its rates. “Residents who are looking at CCRCs are making lots of decisions, [such as] selling a house and disposing of stuff,” he says. “Ask deliberate questions about the extent of charges for the levels of care, as well as the guidelines for determining where a resident lives.”
Researching Continuing Care Retirement Communities
Beyond the continuing care agreement, potential residents need to fully explore the details of each CCRC they are considering. Traditionally, continuing care retirement communities were not-for-profit organizations; today some CCRCs have for-profit business structures. If the CCRC is for-profit, the business might be sold someday. If there is a possibility of sale, how would that affect a resident’s contract?
Some continuing care retirement communities are accredited by CARF-CCAC, a lengthy process that must be renewed every five years. If a CCRC is approved, there is an annual and ongoing reporting process during the five-year term. “[If a CCRC has accreditation, it means] the organization is constantly self-examining what’s working and meeting a third party set of standards,” says Matthiesen. “The organization is very, very focused on the highest levels of performance, financial solvency, and good business practices.” Rockwood South is an accredited CCRC. “For us, it is a consumer value,” says Juhkentaal.
When visiting continuing care retirement communities, try to keep these important questions in mind:
- What happens when assisted living and nursing home facilities are full? Does the CCRC have a reciprocal agreement with nearby communities?
• How well is the staff trained? Do staff members go through criminal background checks? - Extensive Contracts, the most expensive agreement, give residents unlimited access to healthcare with little or no increase in the monthly maintenance fee.
- Modified Contracts also offers residents unlimited access to healthcare, but residents pay for healthcare as needed, with monthly maintenance fee increases to cover healthcare needs. Often the healthcare costs are offered at discounted rates.
- With Fee-For-Service Contracts, residents pay for all health care costs separately. Although this can initially be the least expensive contract, it can be quite costly if a resident eventually has extensive health care needs.
Continuing care retirement communities may also offer residents a certain number of skilled care days each month without raising the monthly maintenance fee. (Sometimes this is a part of the modified contract schedule option.) For example, Rockwood South residents receive ten free days a month of skilled care.
Juhkentaal notes that potential residents need to have a thorough understanding of how a CCRC applies its rates. “Residents who are looking at CCRCs are making lots of decisions, [such as] selling a house and disposing of stuff,” he says. “Ask deliberate questions about the extent of charges for the levels of care, as well as the guidelines for determining where a resident lives.”
Researching Continuing Care Retirement Communities
Beyond the continuing care agreement, potential residents need to fully explore the details of each CCRC they are considering. Traditionally, continuing care retirement communities were not-for-profit organizations; today some CCRCs have for-profit business structures. If the CCRC is for-profit, the business might be sold someday. If there is a possibility of sale, how would that affect a resident’s contract?
Some continuing care retirement communities are accredited by CARF-CCAC, a lengthy process that must be renewed every five years. If a CCRC is approved, there is an annual and ongoing reporting process during the five-year term. “[If a CCRC has accreditation, it means] the organization is constantly self-examining what’s working and meeting a third party set of standards,” says Matthiesen. “The organization is very, very focused on the highest levels of performance, financial solvency, and good business practices.” Rockwood South is an accredited CCRC. “For us, it is a consumer value,” says Juhkentaal.
When visiting continuing care retirement communities, try to keep these important questions in mind:
- What happens when assisted living and nursing home facilities are full? Does the CCRC have a reciprocal agreement with nearby communities?
• How well is the staff trained? Do staff members go through criminal background checks? • What is the staff-to-patient ratio in each living setting? • Does the CCRC appear to be well-maintained, clean, and safe? • Is there an Alzheimer’s unit or memory impairment services? • How can a resident participate in the organization’s decision making? Is there a role for residents who wish to be involved? - Does the CCRC culture match the resident? Is it a formal environment, with dinner jackets required in the dining room, or a casual atmosphere?
Try to explore the full range of health and wellness activities and social events, both on-campus and off. And don’t just look at the independent living quarters. Also visit the assisted living and nursing home facilities. “You don’t want to move into a CCRC without having really looked at all the services, being very upfront and honest with yourself [during the process],” says Matthiesen.
This article is reprinted with permission from A Place For Mom a free referral service helping families find nursing homes, assisted living and Alzheimer's facilities, retirement communities and home care for aging loved ones.
 | LIST OF COMMENTS |
1/7.
Written by suifengpiao - Friday, September 23 2011 |
You could enjoy TN pas cher yet it's tough to enjoy the high prices you are able to pay for them. Any accurate fan with the AJ sneakers knows how it's prefer to stay at home a line with hundreds of people with the mall at 3 each morning, awaiting the shoe store to open Aire Max TN . |
2/7.
Written by weihanteng - Wednesday, December 14 2011 |
|
 Add Comments
|
.jpg)
