5 Simple Questions to Ask About a CCRC Before Committing

If you are researching your senior living options, you may want to consider a Continuing Care Retirement Community (CCRC). It might not surprise you to learn there are many people that don’t understand what a CCRC has to offer. Especially, in comparison to an independent living senior community that you rent from. CCRCs are a wonderful option if you are thinking about your long-term health and how to manage it.  You may be fine living in a rental community for now, but it still leaves your long-term care in question. And a CCRC could be your answer. Here are the questions to ask about a CCRC before you make your decision.

What is a CCRC?

A CCRC offers a variety of living arrangements which can range from independent living (like a rental community) to memory care. They also offer multiple dining options, health and wellness amenities, social events, home maintenance, and more. 

Because a CCRC requires an entrance fee as well as a monthly fee, it is a major financial decision. However, if you want to live a stress-free lifestyle in your golden years, it could be the best choice for you and your spouse. Here are the questions to ask about a CCRC.

Questions to Ask About a CCRC

Can I Afford It?

This might be the most important question you can ask. The big reason there is such a difference in cost between a rental community and a CCRC is that a CCRC is taking your long-term care costs into consideration. Let’s say, for example, you are comparing a rental community with a CCRC. At first glance, the rental community may seem more affordable because they do not require an entrance fee.

However, the entrance fee, at Concord Reserve anyway, is 90% refundable. This means you can leave it to your heirs or get it back upon moving out. Additionally, you may be charged a higher monthly fee at a rental than a CCRC and those costs will add up over time.

Doctor’s visits and hospitalizations are out-of-pocket expenses that may be covered by Medicare. 

What if My Spouse Gets Sick?

The major benefit of a CCRC is the continuum of care. If your spouse becomes ill and you are still healthy, you are not obligated to become their caretaker as those are provided on campus. Instead of splitting your time between driving to the hospital and taking care of your daily needs, at a CCRC you both can enjoy the on-campus care provided as well as the maintenance-free lifestyle. Leaving the two of you to recover and heal at your leisure. Should you and your spouse require different levels of care, you can continue living together on the same campus and receive the care you need.

Who Lives There and What Do They Do?

On average, the residents of a CCRC will range in age from their 60’s to their 90’s. And as for what they do? Well, they do whatever they want. Whether it’s taking advantage of the many on-campus social events to taking yearly trips with the family, residents do whatever they like with the extra time a CCRC affords them. 

How Can I Make It Feel Like Home?

Fortunately, most CCRCs expect you to bring your own belongings and many allow you to paint and decorate however you wish. This will help you feel like the space is personal to you and help you feel more at home.

Is a CCRC a Good Investment

In short, yes, because it is an investment in your future health. That being said, you should still do your due diligence. Before moving in, ask to see the CCRCs financial records and look for things like large amounts of debt and evidence of liabilities exceeding assets. A CCRC is an investment like any other and you should conduct adequate research before committing.

Wondering what a CCRC has to offer in your golden years? Learn about aging on your terms with your FREE Continuing Care Retirement Community Guide.