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Old 07-29-2014, 11:54 AM
 
Location: SoCal
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Quote:
Originally Posted by flyonpa View Post
Q: How do you use up her/dad's Pension, Most Pension are life contract unless she signed off on less from "dad's" pension. Hers should be life?
I don't know the details, so I can only guess. Maybe any pension money that still arrives also goes straight to the facility? Maybe these weren't lifetime pensions? Maybe they were capped?
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Old 07-29-2014, 11:06 PM
 
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I gather there are time-limited options, among them, stuff like 15 years guaranteed and your estate gets the remainder if you die first, etc. There are all sorts of permutations.
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Old 07-29-2014, 11:11 PM
 
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Not many CCRC's in our neck of the woods but we're fans of the few that are and keep them on our shortlist.
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Old 07-30-2014, 06:43 AM
 
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My question is what is the optimal age to actually move into one of these? The idea of continuing care is great, no worries for the family. But it's my understanding that if you are too old, it's not possible, or maybe cost prohibitive, to get into one. I know a couple of years ago when we were talking to a consultant on aging (not sure what's the right name) regarding my FIL she made the comment that at 89 he may be too old to be accepted at one she was familiar.
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Old 07-30-2014, 07:18 AM
 
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^^ You mean....if you can private pay, and they can see from your age and financial assets you'd likely never out live your money (and being able to pay) -- they still wouldn't accept you. Also might it not just be age -- but also health condition. But even that shouldn't matter if you've got the money. Especially given that the buy in is not refundable -- they could MAKE money on older newbies, if the person passes away within a certain time frame.

A friend says a family member moved into a place -- like 2 weeks (MAYBE a month) after moving in. None of that buy-in money was prorated or returned.
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Old 07-30-2014, 08:07 AM
 
Location: delaware
688 posts, read 863,777 times
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Quote:
Originally Posted by choff5 View Post
My question is what is the optimal age to actually move into one of these? The idea of continuing care is great, no worries for the family. But it's my understanding that if you are too old, it's not possible, or maybe cost prohibitive, to get into one. I know a couple of years ago when we were talking to a consultant on aging (not sure what's the right name) regarding my FIL she made the comment that at 89 he may be too old to be accepted at one she was familiar.



my uncle waited until he was 85, and even then, with fairly decent health but macular degeneration. his wife had early dementia, and the only way they were accepted into independent was his assuming caregiving for her. he said many times afterward that they waited too long, and never were able to enjoy the camaraderie and activities that were available because they were too disabled. she went downhill quickly and started going to adult day care two times a week, and then having someone come in to help with bathing and dressing. fortunately, they had money to afford this, but there was certainly no social life for them, a couple who had been very social.

it's difficult to come up with a "golden time" for entrance, as many people want to wait until they "feel ready". unfortunately, as we age, we may lose the cognitive ability to make those decisions, and as a person becomes more impaired, the choices become more limited. also changes can happen quickly, as we age, with a sudden stroke changing the options that once were available.
the purpose of a ccrc is not just for securing care in "old age". it is, at least at this point in time, a means of becoming settled into what is intended to be a person's last home, and developing friendships and connections within that community which , hopefully, can be enriching and sustaining. many people live in independent ccrc units for many years before they require assisted living or in-home care, if ever. yes, it is a medical/health care model for aging but it is also a community where one hopefully finds friendship, support, and perhaps new interests.
i feel this is why some who are interested in such a lifestyle are entering at younger ages- mid seventies or even younger. many are not waiting for something to happen in order to make this move.

catsy girl
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Old 07-30-2014, 08:50 AM
 
2,429 posts, read 3,221,383 times
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Quote:
the purpose of a ccrc is not just for securing care in "old age". it is, at least at this point in time, a means of becoming settled into what is intended to be a person's last home, and developing friendships and connections within that community which , hopefully, can be enriching and sustaining. many people live in independent ccrc units for many years before they require assisted living or in-home care, if ever. yes, it is a medical/health care model for aging but it is also a community where one hopefully finds friendship, support, and perhaps new interests.
i feel this is why some who are interested in such a lifestyle are entering at younger ages- mid seventies or even younger. many are not waiting for something to happen in order to make this move.
That's exactly how I see it.
I'm not saying I'd buy in at 55 or even 65....but I certainly am not thinking of it JUST for the 'health/nursing care' aspect of it, either.
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