With over 350 miles of pacific coastline and 30 million acres of forest, residents of Oregon retirement communities experience one of the most geographically diverse states in America and a hotspot for retirees. Oregon is located on the west Coast and filled with all kinds of shopping areas, recreational opportunities, and a variety of cultural and historical activities. Oregon also offers cities living in Portland, Oregon City, and Salem as well as small towns scattered throughout.
Retirees in Oregon will also experience a mild climate with an exception of cold winters. Temperatures range from the low 30s in the winter to the mid 70s in summer. Oregon’s northeastern portion has a semi-arid climate, and its high terrain regions have a subarctic climate. The climate is heavily influenced by the Pacific ocean and is often humid.
Taxes in Oregon
Oregon is one of only a few states with no state or local sales taxes, but there is a marginal state income tax rates range from 4.75% for the lowest income earners up to a maximum of almost 10% for those earning over over $125,000 ($250,000 for couples). Real estate taxes are approximately 1% of the assessed value of the property.
Oregon Seniors Housing
Planning ahead for the later stages of retirement can help you and your loved ones avoid difficult, and often costly, situations in the future. One of the more important and complex decisions to consider is where you will live throughout your retirement years. Many older adults seek to live in their home as long as possible; yet, others choose to live in a setting that is better able to meet their current and future needs.
If you are independent and active today but are looking for age 55+ communities in Oregon that are able to meet your lifestyle preferences today while providing services for your future healthcare needs, then a Continuing Care Retirement Community (CCRC) could be the right solution for you.
What Makes Continuing Care Retirement Communities In Oregon Unique?
Sometimes referred to as Life Plan Communities, CCRCs are the only type of retirement community that offer residents access to a full continuum of care; ranging from independent living to assisted living and/or skilled nursing care. Continuing care in Oregon is defined by the state as “…furnishing or indirectly making available, upon payment of an entrance fee and under a residency agreement, housing and health related services for a period greater than one year to an individual not related by blood or marriage to the continuing care retirement community provider that is furnishing care.” Continuing care retirement communities in Oregon, or “CCRCs,” are defined as “… any provider that is registered with the Department of Human Services and agrees to furnish continuing care to a resident under a residency agreement.”
Regulation of CCRCs in Oregon
All CCRCs are regulated at the state level, although Congress has considered various proposals over the years to introduce greater federal oversight. There are approximately thirty-eight states that regulate CCRCs through various departments, such as insurance, financial services, aging services, or social services. The remaining states have no regulatory structure in place. CCRCs in the state of Oregon are regulated by the Department of Human Services.
Financial regulation of CCRCs and Lifecare communities in California should not be confused with healthcare-related regulations. For instance, if the healthcare facility located on a CCRC campus is Medicare or Medicaid- certified it will be regulated by the appropriate agency within the state. But these agencies do not regulate the overall operations, residency contracts, and financial management of the community.
What Are Common Entry Requirements For Oregon CCRCs?
Virtually all Continuing Care Retirement Communities in California have entry requirements, which may include some or all of the following:
- Entry fee to cover the housing unit’s cost and other services and amenities, including contractually provided access to health care. The entry fee may also help keep monthly services fees lower than they might be at a comparable rental community.
- Minimum age requirements as allowed by the Housing for Older Persons Act.
- Medical reviews. Providers will often request medical records, talk with a prospective resident’s primary care physician, or request a health exam. The specific type of contract offered by the community will determine the degree of emphasis placed on this requirement.
- Medicare and possibly a Medicare supplement policy, or a similar private-pay plan.
- Will, health care power of attorney, and durable power of attorney.
- Assets and savings equal to a multiple of the entry fee. A typical range is between 2-4 times the entry fee, but this can vary.
- Monthly income equal to a multiple of the monthly service fee. The range is usually similar to that required for assets and savings.
Why Do Some Retirement Communities Require Entry Fees?
Oregon CCRCs require an entry fee. The purpose of an entry fees is three-fold. First and foremost, it secures a resident’s contractual and priority access to a continuum of care. Additionally, the money received from entry fees is also used to help pay down, or limit, the amount of debt required for development, expansion, or long-term capital projects, which keep the community attractive and competitive in the marketplace. Finally, many CCRCs- particularly non-profit providers- offer a financial assistance or endowment fund to help ensure that if a resident runs out of money due to a longer than average stay in the healthcare facility, or some other unforeseen circumstance, they will not be forced to leave the community. Some portion of the entry fee may go towards this endowment fund.
How To Find Out More About CCRC Retirement Communities In Oregon
For more information on top-rated CCRCs and Lifecare retirement communities in Oregon search our continuing care retirement community directory and propriety database for helpful profile reports. Our reports include retirement community pricing, important contract details, healthcare aspects, and more. By utilizing myLifeSite you will be equipped with the information you need and questions to ask as you begin contacting retirement communities directly.