Continuing Care Retirement Communities?

[Halo]

Any of you live in, or have relatives or friends living in, a continuing care retirement community?  I'm curious whether your experiences with CCRCs are positive or negative.  

We have several friends we think might benefit from going into a CCRC, but on the other hand the tradeoffs are significant, e.g.,

1.  You get lots of attention but at a cost of some privacy (e.g., management/security always having access to your apartment/home).

2.  For comparable price, generally lose about half your living space for units you can afford after selling your house and paying the buy-in deposit which often is not fully refundable (that deposit is generally equal or near to the paid-up value of your house).

3.  Many offer continuing care through all contingencies, i.e., from independent living to assisted living to nursing home, but of course those come at the potential cost of exhausting your entire estate if you have a long lingering debilitating illness before death.

My wife and I got an excellent briefing and orientation last week, spending four hours at a well-regarded CCRC in northern Virginia.  It had a lot to offer.  From the visit and research, it seems most people enter CCRCs in early 70s and live in them maybe 10 to 20 years before expiring.  

Biggest shock was the high monthly fee of about $2,700 for primary and spouse.  Haven't been in the apartment market for a long time, but it seems that is not too out of line for a two bedroom two bath of about 1100 square feet, at least in metro areas.  

That fee includes a meal a day, and when ALL household expenses are considering including taxes, maintenance, and periodic hits like air conditioners and roofs, it is pretty close to total house expenses.  

Still, downsizing and forfeiting some of your independence to a CCRC is a major step akin to getting married and buying your first house.  

Most people apparently stay in their own houses all their life, but usually that involves eventual care from nearby family members, especially daughters (females being the more nurturing type, right?).  But with the baby boomers there is increasing interest in 55+ plus adult communities and CCRCs.  

The world it is a'changin', and always will be.  

Meanwhile, please share any good or bad experiences you and yours may have had with CCRCs.

[Mark Luper]

Halo,

Last year we placed my mother in an assisted living complex. The base rate is $1795. She pays an extra $500 a month for them to take care of her medical needs such as purchasing all her perscriptions, giving them to her, washing her laundry and other incidental expenses. It includes all meals. She is living in a one bedroom 600 sq foot apartment. She is beginning to like it. She does have some friends there.

This is Merrill Gardens in Grand Prairie, Texas.

It has been good so far.

[J_A_B]

"Biggest shock was the high monthly fee of about $2,700 for primary and spouse."

A nursing home will cost you a heck of a lot more than that.  


J_A_B

[Halo]

Yes, nursing home costs are the ultimate.  The $2,700 is for two people in independent living; cost goes up a lot for assisted living and even more for nursing home.  

One advantage of the particular facility we looked at is they say they will never kick you out.  Their screening is thorough enough that they are betting you will have enough assets to generally cover any eventuality.  

Final residences are of course a crap game: enrollees are betting their resources will last until they die, and the facility is betting the same or it eventually would go broke and out of business.  

The facilities require a careful health screening and financial analysis BEFORE admission.  Sorta like the military that accepts only the most healthy people.  

A rather new wrinkle (so to speak) is that by entering such facilities BEFORE you really need them, your health is monitored more thoroughly and you have less stress so theoretically you will will live a healthier and longer and more enjoyable life.

Then again, DNA wins every time.  I knew a great guy, an airlines senior pilot who had the best care, but he got cancer in late 50s just like his dad, also an airline pilot.  And like his dad, he fought it for about four years and died anyway in spite of the best medical care available.

Que sera.

[Grayeagle]

Hiya;

I work in a long term care facility that is part of the VA Hospital here in Phx, AZ.

When life smacks you outta the park .. this is where you want to get the care you require, from people who care. . 24/7.

Now .. on the civilian side .. during clinicals I saw what it was like in a few different places .. frankly some were scary, others were excellent.

The care you get revolves entirely around the people that do the job .. either they treat patients with respect as if they were their own elders.. or they treat them like crap.. just a job to do.

Best way to know about a place is to talk to the patients that are alert, oriented, and know the score. Ask 'em how *they* like the place. If they're pissed off, don't wanna talk, or it just doesn't feel right .. and ..worst case .. flinch when a nurse goes near 'em .. back away slowly and find another place.

Just my 2 copper.

-GE (you can tell when the team there is jammin ..they smile when they see yas, they're friendly, and they're BUSY .. doin what the patients want.)

[Eagler]

I plan on freeloading on my two sons

payback is hell