Evaluating a Continuing Care Retirement Community (CCRC)
If your client is looking at a continuing care community, be sure to:
- Understand the contract details.
- Evaluate the financial viability of the community; how well managed are they financially? What’s their track record? Get audited financial statements.
- Help your client assess if they will be happy there. Will the community help them live the life they want to live and not restrict them or feel institutional, but help them open a new chapter in their lives and experience new things?
- Visit their healthcare center; ask other families you know about their experience; would they recommend it?
- Check their rating if they’re Medicare CMS (Centers for Medicare & Medicaid Services) certified.
For more on this subject by Brad Breeding you may take this course for 1 CE credit here. Or, visit Retirement Insight and Trends, InFRE’s quarterly newsletter for retirement professionals, for a summary article of this 2017 presentation. Learn more about the presenter, Brad Breeding, CFP®, President and Co-Founder of MyLifeSite.