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TroveStreet® Wisdom

TroveStreet® Wisdom: Moving into a Continuing Care Retirement Community

Moving into a Continuing Care Retirement Community (CCRC), or a Life Plan community, is a great choice for older adults because it offers different levels of living: independent, assisted living or personal care, memory care, and skilled care. 

CCRCs  eliminate home maintenance worries, improve overall health and wellness, reduce social isolation, ease concern of family members and secure one’s financial future. Residents can also move between care settings as their needs change.

You can view a listing of CCRCs in York County here. But as you narrow down your search, there are two key things to keep in mind: cost and culture:

1. Cost of Care

People moving into a CCRC must meet the financial eligibility criteria. Make sure you fully understand the cost of moving into the CCRC and how the cost of care increases as your needs change. There are three types of CCRCs:

  • Life Contract, or “Type A” CCRCs, have the highest entrance and monthly fees but do not charge beyond an annual inflationary adjustment when transitioning through the levels of care. 
  • Modified Lifecare, or “Type B” CCRCs, offer a lower entrance and monthly service fee but sets limits on the amount of assisted living and/or skilled nursing services that may be used before the monthly fee increases. 
  • Fee-for Service, or “Type C” CCRCs, require residents to pay out of pocket the full market rate for any assisted living or skilled nursing services they need.  

While considering the cost, keep in mind that living at a CCRC eliminates certain monthly expenses beyond your mortgage or rent, such as electricity, water, and food (depending on your plan).  Adding all these bills together will give a better understanding of a true expense comparison.  

TroveStreet® Tip: If you are married and require different care from your spouse, make sure you talk about this with your CCRC of choice. This could have an impact on your cost of care.

2. Culture of the Community

Each CCRC offers amenities and activities. When comparing CCRCs, spend time on site and talk with other residents. Tour the CCRC and take note of every detail, including smells, sounds, tidiness, and decorations. Do staff engage with residents by name? Are residents interacting with one another? Can you envision yourself becoming friends with these people? Can you see yourself thriving in the environment?

Purchase a meal to taste the food. Pick up an activities calendar to understand the scope of opportunities available to you. If you don’t see something that you enjoy doing, inquire about the possibility of adding it. Make certain to review all rules and restrictions. 

Moving to a CCRC is an investment. You will call it home for the rest of your life — and you owe it to yourself to do all you can to make sure it’s the right fit for you.

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