For many older adults their greatest fear is being a burden to their children. While their children might not see it that way, these seniors often express a desire to have an autonomous plan for their lives.
Continuing Care Retirement Communities, or the recently coined “Life Plan Communities,” make a case that makes sense to many seniors and their children. The new LPC name reflects an industry push to update the sector’s image and better describe their mission. Whatever the name, these communities offer different levels of living: independent, assisted, nursing, and memory care — creating a continuum of care. A person — or couple — can spend the rest of his or her life in a CCRC or an LPC, moving between levels of care as needed.
Variety
There are about 2,000 CCRCs/LPCs nationwide, housing about 600,000 residents, according to the industry. These settings have proven to be beneficial to one’s health. U.S. Department of Heath and Human Services research reveals that people who live in continuum care are healthier and live longer than those who don’t. The study also found that residents have less risk of disease and disability.
Although settings vary, most continuing communities have a common dining room, activity centers, gyms, a golf course and swimming pools. Social events happen on campus, as well as off-site to the theater, shopping and other events. Transportation to nearby locations is provided for those without a car.
While each community can be different, all three tiers usually are on the same campus and sometimes in the same building. The independent living portion can be anything from apartments to condos and cottages, and typically have one to three bedrooms.
Settings can be urban or suburban, allowing you to choose an environment you are familiar with or try something completely new, like living in a suburban downtown or in Chicago steps away from everything a big city offers.
The Illinois Department on Aging suggests visiting all levels of care before making a decision and arranging an extended visit for several days or a weekend to get a better sense of any continuing community. Many facilities require that potential residents meet health standards for entering independent living as well as financial standards.
Cost
Costs and payment plans differ at each community, but an entrance fee is usually required. Most facilities require potential residents to meet financial standards.
AARP reports that continuing care is “the most expensive of all long-term-care options” and often require an entrance fee that can range from $100,000 to $1 million. Communities may offer entrance fee refunds that vary from a partial refund to as high as 90 percent or more. Monthly charges can range from $3,000 to $5,000 but may change along with needs.
A contract between the resident and the community spells out what the monthly maintenance fee covers, as well as health care coverage and costs.
