Full Description
This book examines the risks and benefits of Continuing Care Retirement Communities (CCRC). CCRCs can benefit older Americans by allowing them to move among and through independent living, assisted living, and skilled nursing care in one community. They offer a range of contract types and fees that are designed to provide long-term care and transfer different degrees of the risk of future cost increases from the resident to the CCRC. Developing CCRCs can be a lengthy, complex process that requires significant long-term financing and accurate revenue and cost projections. Once operational, risks to long-term viability include declining occupancy and unexpected cost increases. While few CCRCs have failed, challenging economic and real estate market conditions have negatively affected some CCRCs occupancy and financial conditions.
Contents
Preface; Older AmericansProvide Benefits, but Not Without Some Risk; Continuing Care Retirement Communities: Risks to Seniors; Opening Statement of Senator Herb Kohl, Special Committee on Aging Hearing, "Continuing Care Retirement Communities (CCRCs): Secure Retirement or Risky Investment?; Older Americans: Continuing Care Retirement Communities Can Provide Benefits, but Not Without Some Risk; Testimony of Kevin M. McCarty, Insurance Commissioner, Florida Office of Insurance Regulation, "Continuing Care Retirement Communities"; Testimony of Professor Katherine C. Pearson, before the U.S. Senate Special Committee on Aging, "The Importance of Resident Voices in Regulation of Continuing Care Retirement Communities"; Continuing Care Retirement Communities Hearing: Charles W Prine Testimony; Testimony of David Erickson, Vice President for Legal Affairs, Covenant Retirement Communities, "Continuing Care Retirement Communities (CCRC's): Secure Retirement or Risky Investment?"; Index.NER(01): GB IE
