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Continuing-care retirement communities offer a complete range of housing and health-care services, from independent living, through assisted living, to 24-hour skilled nursing care. The services provided lessen the burden of daily chores, maintain seniors' health, and encourage social and recreational activities. This "continuum of care" is attractive because it offers the elderly the security of knowing that as they age, their needs can be met within one retirement community. Most CCRCs are not-for-profit; the majority are sponsored by religious or fraternal organizations.
Prospective CCRC residents generally have a range of options to choose among when it comes to paying for their stay, depending on the philosophy of the community they select and the level of services they wish to lock in when they arrive. Some seniors prefer to pay one fee up front for the security of a lifetime of care (this "life-care" concept was started by the Quakers in the 1950s), while others prefer a "fee-for-service" payment schedule that requires reimbursement only for services used.
Some payment options allow for a partial refund of any fees already paid if a resident dies or leaves the community; others do not. But whatever the payment schedule chosen, the best CCRCs--by utilizing individual long-term-care insurance programs or cultivating endowments--are able to continue housing and caring for their residents for life, even after the residents' own assets are depleted.
If you are considering the move to a retirement community, the following publications may be useful references as you start your research.
* Where to Retire: America's Best and Most Affordable Places, by John Howells (Globe Pequot Press paperback, $16.95)
* America's Best Places to Retire, by Richard L. Fox (Vacation Press paperback, $14.95)
* Retirement Places Rated, by David Savageau (Macmillan paperback,$19.95)
* Retirement Living Communities: A National Directory, by Deborah Fine Freundlich (Macmillan paperback, $24.95)
The American Association of Homes and Services for the Aging
(AAHSA) sponsors the Continuing Care Accreditation Commission
(CCAC), the nation's only accrediting body for CCRCs. Their Consumers'
Directory of Continuing Care Retirement Communities profiles
more than 500 CCRCs, identifies accredited communities, and contains
a helpful guide to choosing a CCRC. To order, call: (800) 508-9442
($30.00 plus $3.50 s/h). Website: "www.aahsa.org".