For Senior Citizens

In addition, a nonprofit continuing care retirement community offers the following advantages:

• It replaces fear about the future with physical and financial security.
  
• It ensures independence and access to health care for the rest of your life.
  
• It offers privacy in your own apartment or cottage, among your own furnishings.
  
• It frees you from maintenance and even housekeeping chores.
  
• It creates opportunities to enjoy the companionship of friends and neighbors of similiar age.
  
• It povides an enviroment that allows each resident to participate in the community's life to whatever degree desired.

Fees
Because the continuing care retirement community provides care for life, it necessarily involves a financial investment by the resident. Most require the resident to pay a one-time accomodation or entry fee, in addition to monthly payments for services included in the continuing care contract. The entrance fee may range from $20,000 to $175,000. Monthly fees may range from $650 to $2,000 for maintenance, chore services, housekeeping, meals and other personal care services and these may increase over time.

In exchange for fees, you are assured of housing and services for the rest of your life, regardless of your health. Some continuing care facilities offer full healthcare benefits at no additional charge. Some facilities offer full care, with additional costs after a certain number of days of healthcare per year. Still others charge fees for certain specific medical services.

Learn at the onset what the entrance requirements are. These tend to vary, but new residents must generally meet certain heath requirements, be ambulatory, have evidence of financial resources necessary to meet the expected fees, and fall within minimum to maximum age requirements. You should also be prepared to have your name placed on a waiting list, since these accommodations are often in demand.

Some retirement communities have all the amenities of a continuing care retirement community, but offer healthcare on a pay-as-you-go basis. Such programs may be more suited to your financial circumstances, especially if you do not want to sign a long-term contract.

Contract
Each community will offer you an agreement or contract stating the services to be provided. You will want to review specific provisions for:

• Living quarters -- size and type, maintenance and housekeeping responsibilities, furnishings, utilities included, etc.
  
• Medical care -- doctor and hospital services, nursing care, various therapies, etc.
  
• Recreational and educational activities
  
• Meals and special diets -- number of meals per day guaranteed by monthly fee, group or private dining, availability of entree selection, etc.
  
• Personal assistance -- help with bathing, dressing, etc.
  
• Emergency help
  
• Additional or individual services

If you are considering a continuing care retirement community, you would be wise to seek professional, legal, or financial advice before entering into the arrangement. Some continuing care communities may offer a variety of fee stucture and contract options. Make sure you understand the contract you sign. Look closely at the conditions, if any, under which the entrance fee is refundable. For example, what portion of the fee will be refunded if you decide to leave the community within a few months of your having moved in? If you die, will a portion of your entrance fee be refunded to your estate? If so, how much?

Community care communities vary in size from about 100 to 500 living units. They serve both individuals and couples. A couple can remain together in the same community setting even though the health needs may require one spouse to be transferred to the health care unit. Should one die, the surviving spouse can be assured of uninterrupted care. Many communities welcome prospective residents for brief trial visits so they can experience how daily living may be enjoyed there. A visit enables you to better determine their suitability.

How should I choose a CCRC?
Although accreditation is an important consideration in deciding whether to move into a CCRC, it should not be the only criterion in selecting a community. Here are some questions to ask when considering one:

• What is the policy on entrance for refunds?
  
• Is there a waiting list? If so, how long is it?
  
• How large a deposit is rquired upon application? Is it refundable?
  
• Are the healthcare services and fees charged for these services clearly specified in the contract?
  
• What are the CCRC's healthcare obligations? Does it have the staff to meet them?
  
• What government standards and regulations are required of the CCRC? Are they being met?
  
• Is the facility accredited?
  
• What is covered by the CCRC's monthly fee?
  
• How are residents informed of the CCRC's financial status?
  
• What is the community's mission? How does it go about fulfilling it?