Comments on: How to Evaluate a Continuing Care Retirement Community

on 11/1/2007 A CCRC is essentially a health insurance policy superimposed on a rental real estate business. The rental fee and down payments are part of a complex formula centered around longevity. Actuarial estimates of the longevity of residents are at first predicated on the industry at large and after 7 years, on the facility's own statistics. The gamble is the facility guarantees the same monthly fee regardless of the required level of care. Therefore, rents are predicated on a statistical analysis which places the resident expenses on a curve. If a resident does not live longer than 7 years, the facility will likely come out ahead. If the resident lives longer than 7 years, the resident comes out ahead.
To be sure and make the most of an investment (and it is an investment) in a CCRC, most people will benefit most by moving in early- in their mid 60's, not later in their 70's or 80's.

on 9/12/2007 In step 5, you recommend three ONLINE resources, but then give phone numbers but no websites.

on 3/21/2006 Visit the health care unit by yourself, unannounced. Walk the halls and get a feel for the environment. Are patients left to sit alone with no way to call staff? Is it noisy? Does it smell? Are the bathrooms large enough to accommodate walkers or wheelchairs? Are there enough windows so that patients can see outside? Keep in mind you could very well end up in a health care facility, so it is as important as the other levels of accommodations.