Moved into CCRC today

[maestro]

Just moved into a CCRC independent living apartment today. All the furniture is here, lots of boxes to unpack, may have to get rid of a few things even though I had already downsized. This is a very nice and fairly expensive Type A Life Care CCRC. We had been on the wait list over 10 years. The apartment is lovely, they completely renovated it and I got to pick out flooring, cabinets, paint, counter tops appliances etc. Went to dinner in one of the restaurants (there are 5), delicious food and great service, one meal a day included in rent. We already know some people here and have met several others, a neighbor invited us to eat with them tomorrow night. We are younger than most, we are 72 and the average age for move in is 76 but DH has some health issues and we wanted to move in while we could still pass the entrance exam. More later, tired tonight.

Congratulations on your next chapter of living, may it be blessed with more positives than negatives ahead, and it sounds like you are starting off well. I like how you say '...younger...at 72...', but I suppose it's all a good 'mindset'. Rest ahead, settle in. You're in a good spot.

 

[38Chevy454]

Sounds like a great place for you and your husband.

I also appreciate the general CCRC information that is helpful to my education about them. Might be something to look into in future for me and DW.

 

[harllee]

The food is so good here at the CCRC I have already gained 2 pounds and I don't even eat dessert! I will have to start going to the fitness center every day!! The fitness center is top notch, many classes (mainly aimed at seniors), personal trainers, a masseuse, walking track, heated saltwater pool, very nice hot tub, all the latest equipment, nice locker rooms, steam room. I had been a member here before and I must say it is the nicest fitness center I have ever used. No excuse not to exercise.

 

[Act2]

I’m so happy for your great experience! My parents also loved their CCRC, and it sounds like you have a Type A contract (same cost if you move up levels of care), which worked out so very well for my parents. If one of them had moved up a level so that they were housed in separate apartments, it would have been more, but luckily that didn’t happen. They were able to stay together while both were still alive, except for a couple rehab stays for one parent a couple times. When Mom passed, Dad moved through levels of care and we greatly appreciated the price structure in that contract. There was so much to do and food was amazing. A great decision.

 

[cb2008]

Refundable entrance fee opinion??

Harlee, thanks for this great thread. We plan to move to a Type A CCRC in Asheville in 2 to 3 years. What’s your and everyone else opinions on taking one of the partially refundable entrance fee options?

 

[harllee]

Harlee, thanks for this great thread. We plan to move to a Type A CCRC in Asheville in 2 to 3 years. What’s your and everyone else opinions on taking one of the partially refundable entrance fee options?

I did not take the partially refundable entrance fee option. We have no children to leave our estates to. Plus the partially refundable option made the entrance fee so large we could not have afforded to move in. We were told almost no one takes that option. You need to run some numbers.

 

[harllee]

I’m so happy for your great experience! My parents also loved their CCRC, and it sounds like you have a Type A contract (same cost if you move up levels of care), which worked out so very well for my parents. If one of them had moved up a level so that they were housed in separate apartments, it would have been more, but luckily that didn’t happen. They were able to stay together while both were still alive, except for a couple rehab stays for one parent a couple times. When Mom passed, Dad moved through levels of care and we greatly appreciated the price structure in that contract. There was so much to do and food was amazing. A great decision.

At our Type A CCRC, if one of us has to move up to a higher level of care and the other stays in independent living the combined fees for the 2 of us stay the same except for the additional food for the person who moves up to the higher level of care.

 

[Huston55]

Harllee-

Happy for you that this decision is working out. I've always been a CCRC (versus LTCI) advocate. We're a bit younger (60s) but, have done lots of research on CCRCs here in the SF Bay Area. One of the highly rated Life Care contract facilities in our area is currently going through the process of eliminating (actually outsourcing) their Skilled Nursing Care residences. I don't know the details yet but, I have to say that this concerns me when considering this care model. Have you seen this with any CCRCs in your area?

For those who want to do more CCRC research, we have a sticky thread here in the Forum; posted link below.

https://www.early-retirement.org/forums/f47/ccrc-reference-material-faqs-86124.html

 

[harllee]

Harllee-

Happy for you that this decision is working out. I've always been a CCRC (versus LTCI) advocate. We're a bit younger (60s) but, have done lots of research on CCRCs here in the SF Bay Area. One of the highly rated Life Care contract facilities in our area is currently going through the process of eliminating (actually outsourcing) their Skilled Nursing Care residences. I don't know the details yet but, I have to say that this concerns me when considering this care model. Have you seen this with any CCRCs in your area?

For those who want to do more CCRC research, we have a sticky thread here in the Forum; posted link below.

https://www.early-retirement.org/forums/f47/ccrc-reference-material-faqs-86124.html

I have not heard of any CCRCs in my area out- sourcing skilled nursing. In fact I know of several who recently enlarged their nursing home buildings.

 

[mickeyd]

Nice going. We moved into our CCRC 4 years ago. No regrets & 25# lighter.

 

[harllee]

Nice going. We moved into our CCRC 4 years ago. No regrets & 25# lighter.

You mean you are 25 pounds lighter than when you moved in? That is going to be hard for me with all the great food! I will of course be using the fitness center but I was already a member of the fitness center and went regularly. I don't really need to lose weight but I don't want to gain any either!

 

[bmcgonig]

Harllee-



Happy for you that this decision is working out. I've always been a CCRC (versus LTCI) advocate. We're a bit younger (60s) but, have done lots of research on CCRCs here in the SF Bay Area. One of the highly rated Life Care contract facilities in our area is currently going through the process of eliminating (actually outsourcing) their Skilled Nursing Care residences. I don't know the details yet but, I have to say that this concerns me when considering this care model. Have you seen this with any CCRCs in your area?



For those who want to do more CCRC research, we have a sticky thread here in the Forum; posted link below.



https://www.early-retirement.org/forums/f47/ccrc-reference-material-faqs-86124.html

Huston

Here’s an article that discusses it. Multiple reasons from healthier seniors so less demand to investors being skittish about being involved in skilled nursing.

By definition it is really no longer a CCRC if it doesn’t have a skilled nursing facility I guess.

https://skillednursingnews.com/2018/07/ccrcs-move-away-skilled-nursing-demand-drops/

 

[Koolau]

I have not heard of any CCRCs in my area out- sourcing skilled nursing. In fact I know of several who recently enlarged their nursing home buildings.

The one I know of here on the mainland apparently does out source when needed.

 

[Poopycat]

I never realized there was a 10-year wait on getting into these places. I’m 53 so I don’t think it’s quite time for me to get onto a waiting list but I’d better start doing my research earlier than I had anticipated. Since I’m on my own in life, CCRC’s seem like a reasonable option to help me increase my chances that I will have decent care when I’m too old to fend for myself.

If I may ask, what types of questions are asked on the entrance exam?

 

[Koolau]

I never realized there was a 10-year wait on getting into these places. I’m 53 so I don’t think it’s quite time for me to get onto a waiting list but I’d better start doing my research earlier than I had anticipated. Since I’m on my own in life, CCRC’s seem like a reasonable option to help me increase my chances that I will have decent care when I’m too old to fend for myself.

If I may ask, what types of questions are asked on the entrance exam?

When we looked into a CCRC, they said that you could get on the waiting list and then NOT elect to move in when your number comes up. BUT you are still at the top of the list which means you would be able to move in the next time an opening comes along. I think you can keep doing this.

As far as questions - I haven't gone through the process, but before entry the CCRC will likely want to know that you have sufficient funds to pay them for the rest of your life - IOW you won't run out of money and be a burden on them. The other aspect they will likely explore is your health. I don't know the criteria, but if you been diagnosed with dementia, I'm assuming you would not be eligible. Other conditions (maybe heart disease or cancer) I don't know. I assume it varies with the CCRC.

 

[Time2re]

I never realized there was a 10-year wait on getting into these places. I’m 53 so I don’t think it’s quite time for me to get onto a waiting list but I’d better start doing my research earlier than I had anticipated. Since I’m on my own in life, CCRC’s seem like a reasonable option to help me increase my chances that I will have decent care when I’m too old to fend for myself.



If I may ask, what types of questions are asked on the entrance exam?

We moved into a life care community about 5 months ago. To get on the waitlist (fully refundable deposit) pretty basic info required. Most important, a simple financial worksheet, to ensure one has the assets to support entry fee, monthly costs, etc. We were told waitlist for 1 1/2 - 2 years, but got our first offer about 9 months later. We accepted it. That process a lot more involved; financial worksheet, medical forms completed by your PCP, simple cognitive test…took about a week for approval. We are still getting settled, but agree it was a good decision for both of us. Now, the wait list +5 years.

 

[braumeister]

When I was looking for a CCRC to sign up for, the wait lists for the ones I was interested in ranged from 3-5 years up to 7-8 years. Obviously, the larger ones will have more flexibility as people move in and out, but the longer the wait list the more it's seen as desirable.

I've been told that they want to see your guaranteed income as twice the monthly fee and your net worth as twice the entrance fee. So that's highly variable between places. Also variable within them as most will have a fairly wide range of apartment sizes and standalone homes.

It's pretty simple to sign up for the list, but as Time2re said it gets more detailed when you are actually ready to move in.

The good part is that once you're on the list, a good CCRC won't ever bump you. So you can turn down available units until you're actually ready to move in.

 

[harllee]

I never realized there was a 10-year wait on getting into these places. I’m 53 so I don’t think it’s quite time for me to get onto a waiting list but I’d better start doing my research earlier than I had anticipated. Since I’m on my own in life, CCRC’s seem like a reasonable option to help me increase my chances that I will have decent care when I’m too old to fend for myself.

If I may ask, what types of questions are asked on the entrance exam?

Not all of them have a 10 year waiting list --but all the ones in my town do. In fact one CCRC in my town has quit taking a waiting list because there are so many on the list. I got on my waiting list at age 62 and I am now 72 and just got in.

There 3 parts to the entrance exam--

Financial --I had to give them an asset and liability statement and an income statement. They run some ratios to make sure you have adequate assets to pay the entrance fee and monthly fees. I had to give them the same financial information to get on the waiting list and they asked me to periodically update the info every few years.

Health--they get your health records from every doctor you have seen in the last 5 years. The requirement is for you to be able to live independently for 5 to 7 years. Some things automatically disqualify you--like dementia, Parkinsons and MS.

Cognitive--this was about a 20 minute test, you had to remember 5 words for 20 minutes, count backwards from 100 by 7 or some other number, draw some shapes, draw time on a clock, answer questions about current events like name of President, Governor, etc.

 

[harllee]

When we looked into a CCRC, they said that you could get on the waiting list and then NOT elect to move in when your number comes up. BUT you are still at the top of the list which means you would be able to move in the next time an opening comes along. I think you can keep doing this.

As far as questions - I haven't gone through the process, but before entry the CCRC will likely want to know that you have sufficient funds to pay them for the rest of your life - IOW you won't run out of money and be a burden on them. The other aspect they will likely explore is your health. I don't know the criteria, but if you been diagnosed with dementia, I'm assuming you would not be eligible. Other conditions (maybe heart disease or cancer) I don't know. I assume it varies with the CCRC.

At my CCRC they let you decline a unit 3 times and you can stay at the top of the list. After the third decline you go to the bottom of the list.

 

[braumeister]

At my CCRC they let you decline a unit 3 times and you can stay at the top of the list. After the third decline you go to the bottom of the list.

That seems pretty harsh.
A more common system, in my experience, is that when a unit becomes available anyone on the list can request it and it will go to the requester with the highest seniority on the list.

 

[harllee]

We moved into a life care community about 5 months ago. To get on the waitlist (fully refundable deposit) pretty basic info required. Most important, a simple financial worksheet, to ensure one has the assets to support entry fee, monthly costs, etc. We were told waitlist for 1 1/2 - 2 years, but got our first offer about 9 months later. We accepted it. That process a lot more involved; financial worksheet, medical forms completed by your PCP, simple cognitive test…took about a week for approval. We are still getting settled, but agree it was a good decision for both of us. Now, the wait list +5 years.

Our entrance requirements sound more complicated than yours--it took us about a month to find out we were approved after submitting all the info and taking the cognitive test (I thought the cognitive test was hard). My husband has some chronic health issues so he had to meet the health director in person for an interview before he was approved.

 

[Koolau]

Just curious. Do folks here have info on pricing for CCRCs. We've so far looked into assisted living places and their prices seem to start around $4K/month for an efficiency with 2 people up to $7K/month for a stand alone "house" on the grounds. IIRC the fee covers all meals.

Keep in mind, these are Hawaii prices.

Thanks.

 

[harllee]

That seems pretty harsh.
A more common system, in my experience, is that when a unit becomes available anyone on the list can request it and it will go to the requester with the highest seniority on the list.

I wouldn't describe it as harsh--when you have hundreds of people on the wait list you don't want to have to mess with people who are not serious about moving in, so if a person turns them down 3 times they go to the bottom of the list. I looked at 4 CCRCs in my area and all of them have the 3 strikes you are pushed to the bottom rule.

 

[harllee]

Just curious. Do folks here have info on pricing for CCRCs. We've so far looked into assisted living places and their prices seem to start around $4K/month for an efficiency with 2 people up to $7K/month for a stand alone "house" on the grounds. IIRC the fee covers all meals.

Keep in mind, these are Hawaii prices.

Thanks.

I answered the question about my monthly fees in post #73 above. i have not discussed the entrance fee on this thread--let's just say it is a lot.

 

[Koolau]

I answered the question about my monthly fees in post #73 above. i have not discussed the entrance fee on this thread--let's just say it is a lot.

Thanks I did remember that. I'm just looking for a range that folks have found as they look at CCRCs. I know they vary by location and of course with the quality of the building and grounds and activities.

We have had friends (all gone now) that we used to visit in their CCRCs. I was utterly impressed with virtually everything. The only issue: The prices were astronomical! One we looked at, you had to "buy in" and there were tiers to that. I think the top tier was close to a million dollars. For that, you got 90% back upon death. Rooms/suites were less expensive per month. At lower buy ins, one got back less % upon death and everything monthly was more expensive. It was complicated, BUT, it was the best CCRC in town. Our friends there loved it. My impression was that folks (around my net worth) would go there and consume their net worth before they died. Why not live in a gorgeous place with wonderful food, lots of activities, no need for a car (free transport to doctors, stores, etc.) friendly staff, etc.

I'm still hoping to just live in our condo and then not wake up one morning. One of my constant prayers. I guess we'll see. Heh, heh, if I stop posting suddenly, I probably got my wish (that or a stroke that doesn't kill me. )