Making a decision about senior living is among the biggest choices you will make in your life…It’s way up there on the list anyway! Perhaps you have already decided that you want the long-term security of a continuing care retirement community (CCRC, also called a life plan community), but there are so many things to consider when looking at different providers. It is understandable if your head is spinning and/or you feel overwhelmed with the options.
But there is a way to simplify the decision about which CCRC is right for you. I recommend breaking down the decision into these four buckets: lifestyle, healthcare, financials, and contact details. Let’s take a look at each of these four key factors.
by Brad Breeding of My LifeSite
It is commonly thought that it is cheaper for seniors to stay in their home as long as possible versus moving to a community-based setting. But this may not always be the case. Here are three reasons why.
Courtesy of My LifeSite
If you or a loved one is considering a continuing care retirement community here are ten of the most important questions you should ask:
10. What is the ratio of independent living residences to assisted living and healthcare residences?
Some CCRCs are mainly independent living communities with a proportionately small number of assisted living or skilled care units available. This is particularly concerning for newer communities, where very few residents require care now but may in the future. The question is whether there will be enough availability in the healthcare center for residents requiring care at that time. On the flip side, some CCRCs evolved out of established nursing care facilities that added a few independent living residences. In this case, you may find proportionately more residents requiring care services than living independently. On average independent living residences represent 60-75% of the total residential units.
Courtesy of My LifeSite
“What is the difference between a not-for-profit community and a for-profit community?” This is a popular question among prospective residents of Continuing Care Retirement Communities (CCRCs), also referred to as Life Plan Communities.
Many not-for-profit CCRCs are single site organizations, although some are part of a larger group. The distinguishing feature of a not-for-profit CCRC, as with other not-for-profit organizations, is that all of the money earned or donated goes towards pursuing the organization’s objectives, instead of to the owners. Not-for-profit CCRCs are typically structured as 501(c)(3) organizations, which, by definition, requires that they operate for charitable purposes.
by a Broadmead resident
A Baltimore native, Beth Wells was raised in Pikesville and educated through high school at Maryvale College Preparatory School in nearby Brooklandville. Staying close to home, she chose University of Maryland Baltimore County for her undergraduate studies. As that was in the early days of UMBC, Beth says it was an especially exciting place to be. After a brief stint at the Harvard School of Education, Beth finished her master’s degree in counseling at College Park. Unlike most Broadmead residents, Beth is still working full-time, though she looks forward to retirement in two or three years, when she can turn to other interests.