A common question I hear from prospective residents of a CCRC is, “What happens to my monthly fee at a CCRC if/when I require temporary or permanent care services in the healthcare center?” It is important to get this question answered by each CCRC you are considering because their responses will likely vary depending on the type of contract(s) they offer.
A recent study of CCRC residents revealed that the healthier seniors are, the more popular they are and the wider their circle of friends. And another related study showed that for both men and women, loneliness and infrequent interaction with family and friends can actually shorten seniors’ lifespan, independent of other health factors.
This is a special guest blog post by Aaron Skloff, AIF, CFA, MBA, and CEO of Skloff Financial Group, highlighting the three questions he is most frequently asked about long-term care insurance policies.
There are support resources available who are experts in helping seniors move. These pros can make selling your house, packing, and moving a less arduous task for seniors who are relocating to a CCRC or other retirement community.
For some senior couples, a continuing care retirement community (CCRC, also known as a life plan community) could be a solution to concerns about being separated by differing care needs. CCRCs offer a continuum of care for residents, from independent living patio homes or condos to 24/7 skilled nursing care–all on one campus.
From legal reform to well-organized advocacy groups, the U.S. is generally becoming a more tolerant place for members of the LGBT community. And as the number of openly LGBT seniors continues to grow, more and more senior living communities are looking for ways to welcome them with open arms.
In an attempt to incentivize more aging Americans to purchase a private LTC insurance policy, the Deficit Reduction Act (DRA) of 2005 (DRA) included section 6021, which created the Qualified State Long-Term Care Partnership Program. Many older adults are not aware of this program, but they should be.
Faced with choosing between multiple types of refundable contracts a prospective resident of a CCRC (life plan community) may wonder which choice is best, financially, over the long run.
Here is a simple summary of a CCRC contract to help you understand the specifications for care and cost before signing on the dotted line.
It is commonly thought that it’s cheaper for seniors to stay in their home as long as possible versus moving to a community-based setting. Here are three reasons this may not always be the case.
