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That is why my parents did their research Posted by NCCaniac [Email]  (#352)  [Profile/Gallery]
(more from NCCaniac) on Mon, 23 May 2016 10:44:03
In Reply to: Easy to burn a lot of $$, EricG, Fri, 20 May 2016 20:51:57 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I am sure there are some really bad or dodgy CCRCs and some that may be well run but are not financially stable for the long hall.
The CCRC my parents went with is part of an organization that has been around for 20+ years so they have a track record and operate in a number of states on the east coast.
In my parents' case, while they were still healthy enough to live independently in their home, they were determined to work out a longer term living situation so as not to put my brother and I in a situation to have to suddenly find them a suitable situation if a health crisis came up that changed their needs. By selling their home (which was paid for), they were able to handle the one-time buy-in and now cover the the monthly fee with social security plus my dad's pension. They also have a good long-term care policy so that if one or both of them need advanced nursing care at the CCRC and costs go up, they will be covered on that too. (As a counter point, my sister-in-law's mother waited too long to move of her home and into an assisted living facility and it was stressful for her and the family when it finally happened.)
I do not know a lot about other CCRCs, but from what I have seen, this one seems very well run, financially stable, and my parents find it a good situation for them. YMMV...so it is important to do research.
I expect as the demand for CCRCs rises as the baby boom generation continues to age, there will be more options, but it will likely take economics to shake out the good ones from the bad ones.
_______________________________________ 1971 Sonett III (since 2010) 2000 9-3 5-door (since new) 2008 9-5 2.3T SportCombi (since 2014)
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