Retirement Communities 101 - Dana Bodney Cornwell

Researching retirement communities for yourself or a loved one can be very confusing. Most seniors will refer to this as their “last move”. The heat is on to wade through all the options and information to choose the best community based on their individual situation and circumstances. Your research will include surfing the internet, calling specific communities of interest based on location and plans they offer, and visiting those communities to see for yourself if it is the one for you. It may sound overwhelming, but it doesn’t have to be. I am a retirement counselor at a Continuing Care Retirement Community (CCRC) and this book is designed to guide you through the selection process. It is a practical guide to understanding and researching a CCRC. The senior living industry is growing rapidly and new communities are popping up on ever other corner in neighborhoods across the country. The process of learning each community’s admittance requirements, services offered and financial approval qualifications can be like going back to school again. It can be a grand task finding the appropriate type of community to fit your needs and merely schedule an appointment. You may not even have any “needs” yet at all, but are simply trying to understand retirement options and plan your future responsibility. 

Continuing Care Retirement Communities may be a very new concept for you to consider in your retirement research. A CCRC is a community which has all levels of care on the same campus. The journey begins in independent living and should a resident need more services or care, it is an easy transition to move to assisted living, memory care, or skilled nursing. The questions you need to ask when considering a retirement community are in the following pages. You will learn new terminology and discover more options than you thought could exist for finding a solution in your new phase of retirement. You will learn the difference between an entry fee CCRC and a rental CCRC. Entry fee communities offer a component called Life Care. It is a very beneficial option and synonymous with the term asset preservation and is a long-term care insurance policy. Your journey at a CCRC will begin in Independent Living. Many residents make the move as early as possible, which is age sixty-two, just to enjoy the active lifestyle. There are hundreds of CCRCs across America, each with detailed benefits associated with different plans for entrance and distinct standards of acceptance. That’s right – acceptance. Health assessments will determine if a person is appropriate for Independent Living. There is a saying in the CCRC industry, “It is better to be two years too early than two minutes too late”. This book is a practical outline of steps to take to find the right community for you. It is designed to help you consider factors that may not have occurred to you and how they could affect your whole family. I will address pertinent questions you may want to consider as you visit different CCRCs. The research process involved with finding the perfect community for you or your loved one doesn’t have to cause anxiety. You will feel in control and less overwhelmed as you plan visits to communities you are considering for this important move in your life. Remember, all communities are structured differently. You are conducting your own research so ASK QUESTIONS. There are many general questions listed in the workbook section of the book for you to ask the retirement counselors at each community. Retirement Communities 101 is an easy read and more like a narrative than a text book, so we will have some fun along the way. I do not claim to be an expert on the extensive CCRC industry, but I can promise if you use my suggestions your road to peace of mind will have fewer bumps.