For older adults, there is no better security than a continuing care retirement or Life Plan community...if you can afford it.
What Is a Continuing Care Retirement Community?
A continuing care retirement community (CCRC), or Life Plan community, offers your parent the assurance of care from the time they’re healthy and independent throughout the end of life.
As AARP puts it:
“Part independent living, part assisted living and part skilled nursing home, CCRCs offer a tiered approach to the aging process, accommodating residents’ changing needs. Upon entering, healthy adults can reside independently in single-family homes, apartments or condominiums. When assistance with everyday activities becomes necessary, they can move into assisted living or nursing care facilities. These communities give older adults the option to live in one location for the duration of their life, with much of their future care already figured out. This can provide a great level of comfort to both your parents and you and take much of the stress out of the caregiving relationship.”
Advantages of a CCRC
In addition to the continuum of care offered by a Life Plan community, they also give your parent the assurance that they won’t ever have to move again. Even if they move from independent living residences to skilled nursing rooms, they will still be living on the same campus with the same amenities.
All CCRCs provide a host of amenities. Most communities include the following:
- Educational programs
- Exercise classes
- Gardening space
- Laundry services
- Meal services
- On-site nursing and health care
- Organized social and recreational activities
- Personal conveniences (salons/barber shops, banks, library)
- Processing of Medicare and insurance reimbursement forms
- Security systems
- Craft and woodworking activities
CCRC Fees and Options
Life Plan communities usually require an entrance fee, which ranges from $107,000 to $427,000. Each month, residents are charged a monthly fee, ranging from $2,089 to $4,154, that is used to prepay for care and provide the business money to operate. Many also require an application fee, which may be more than $1,000.
Most continuing care retirement communities offer 3 options:
Life Care Contract
This contract has a higher buy-in but doesn’t raise or add fees later on.
This contract provides a discounted rate for independent living and a limited period of assisted living or skilled nursing care. However, if your parent needs care beyond that limited period, you pay a daily rate.
A fee-for-service contract specifies only the services requested and payment for each service. Your cost will be lower when your parent is in independent living but it will jump when and if they need assisted living or skilled nursing care.
Not Your Average CCRC
The Esquiline operates differently than most Life Plan communities. Because we are a nonprofit founded by the Missionary Oblates of Mary Immaculate, our goals are centered around service to others.
At The Esquiline, there is no required application fee, and our contracts are month-to-month. A 60-day notice is all that is required to end your contract in the independent living apartments.
Find out more by calling 618-394-6400 or 800-533-6279 or contacting us online.