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Wake County Continuing Care Retirement Communities

About Wake County Continuing Care Retirement Communities

CCRC’s in Wake County are generally run either by for profit companies or by private not-for profit institutions. Moving into a continuing care retirement community is more of a business proposition than simply signing a lease such as what is done when moving into a traditional retirement community. Due to the potential life long relationship between the resident and the continuing care community legal contracts are used to specify what type of healthcare, housing and other services tailored to meet the needs of the residents as they age and potentially pass through the communities’ increasing levels of care. When a resident moves in to a CCRC an entrance fee is paid. A certain percentage of the entrance fee is refundable either to the resident if they move out or to their estate and this fee is used to help fund care costs for those residents who move in and progress to higher levels of care. Each month the resident pays the community a rental charge which covers basic services applicable to maintaining the apartment, housekeeping, basic meal service, utilities, etc. The benefit of moving into a CCRC is that regardless of level of care required, a resident can progress through the various levels of care and, having paid the entrance fee, can remain living in the community and pay a monthly fee which covers the needed care. Also to be considered is that in general, once a resident is accepted into a CCRC, their entrance fee in effect assures them that they can not outlive their resources and ability to remain in the community. Financial planning is made easier for the resident as the cost of care is made more predictable. This is made possible as the community can more easily plan financially for the cost of sheltering and caring for its residents and can therefore more readily provide a reasonable range of costs associated with each level of care. The Wake County Eldercare Channel is brought to you by Tom Arnold and Right at Home of Wake County.

Wake County Continuing Care Retirement Communities Articles

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