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Arrangements in a Continuing Care Retirement Community

A continuing care retirement community is the type of retirement home that offer contracts to seniors for the provision of shelter and medical services. For a senior to take advantage of the community’s services, he or she must pay an entrance fee and a monthly fee. Depending on the contract that was agreed upon, the entrance fees in a continuing care retirement community can be non-refundable or refundable.

Residents in a continuing care retirement community get to enjoy living independently with the assurance that they will receive medical assistance in case of illness. A continuing care retirement community has requirements for seniors who wish to enter in terms of age, finances and income, physical condition and health. Generally, seniors are advised to enter the community while they are still self sufficient and are able look after themselves.

A continuing care retirement community contract comes in three types, which are extensive, modified and fee-for-service. An extensive contract provides shelter, services, facilities, amenities and nursing care with fixed monthly fees excluding possible increases in costs for community operation. Entrance and monthly fees are higher than the modified contract and fee-for-service contract.

A modified contract basically covers the same services as an extensive contract. It also provides shelter, services, facilities, and amenities although nursing care is limited. If a senior has already used the limited nursing care services, they would have to pay for the additional ones. The nursing care costs can be paid on a daily or monthly rate. A fee-for-service contract normally has lower fees than the extensive and modified contracts. It also covers the same services as the others; however, nursing care services are at daily rates. It is the senior’s responsibility to pay for the nursing care. When choosing the type of contract for a continuing care retirement community, it is best that you seek legal advice from an attorney. This is to avoid any problems in the future.

It is also important to study carefully the services that the community has to offer. Identify first the type and level of service or care that you need so you can pick the best community that will suit your requirements.

Seniors should also study carefully everything that is on the information booklet provided by the establishment. It is ideal to visit every community first and if possible, try to talk to residents in the community and borrow handbooks from them. Speak with the staff and ask them about the policies and management in the community.

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