Learn About Life at Buena Vida Estates
Moving into the right senior community can open an exciting and rewarding chapter in life. Chores are replaced by new adventures. Friendships are forged. Both mind and spirit are freed from worry about the future.
This idyllic situation is achievable but requires due diligence. Seniors looking for the perfect fit in retirement communities need to do thorough research before making a selection that will impact the remainder of their lives.
Teri Brant, director of marketing at Buena Vida Estates in West Melbourne, a continuing care retirement community (CRCC), and some residents offer answers to vital questions. First, Brant breaks down the different options in senior communities.
- Independent living, akin to college campuses, offers residents an active community setting free from daily chores like cooking and housekeeping.
- Residential home care and assisted-living communities offer personalized services to residents who need assistance with daily living routines, such as bathing.
- Nursing homes are skilled nursing facilities designed for individuals with physical or mental illnesses that render them unable to care for themselves.
- Memory care facilities serve those living with Alzheimer’s or dementia.
- Continuing care retirement communities, or CCRCs, blend all the above facilities into one campus that offers independent living, assisted living, skilled nursing and memory care. Residents know they can remain there for the rest of their lives, regardless of future care needs.
Can a retirement community provide a continuum of care without being a CCRC?
Maureen, Buena Vida resident since 2014
Yes, however you need to understand what levels of care they are licensed to provide and what guarantees are in place that care will be made available to you when you need it.
Some communities will exaggerate the levels of care that they can provide or tell you that you won’t ever need the higher levels of care. This is a gamble and something you may want to investigate further.
The non-CCRC should share with you the expected costs associated with their care so you can determine your level of exposure and risk. You should also understand the ramifications if you deplete your assets while living at this type of community. bNon-CCRCs will not guarantee lifetime contracts and may ask residents to leave due to medical needs or if they outlive their assets.
Why would an active senior choose a CCRC?
Joan, Buena Vida resident since 2017
The best time to move is when you’re independent and able to enjoy all the amenities. If you wait until you have an issue, you may no longer qualify for continuing care coverage.
What should you look for when considering a CCRC?
Teri Brant:
Check the ratio of independent and assisted living units, since that will determine whether the facility can provide adequate care when needed. On average, independent living residences represent 60% to 75% of the total units.
Make sure the community is financially positioned to meet its long-term commitment to residents. Beware of communities that are unwilling to share audited financial statements, positive net worth and strong occupancy demand indicated by occupancy rates above 90 percent. In Florida, CCRCs are overseen by the Office of Insurance Regulations and must adhere to strict guidelines that ascertain facilities fulfill contractual obligations with residents.
Ask how monthly rates have changed each year in the past five years to obtain an accurate picture of what you can expect going forward and how well the CCRC manages finances.
An experienced management team is critical for maintaining high operating standards and diligent financial management. Inquire as to the experience of management and look for an independent board of directors that is culturally and professionally diverse.
To avoid unwelcome surprises, check which services are included, and which are extra. One community may operate a la carte while another adheres to an all-inclusive approach.
Although it may be years before you need assisted living or skilled nursing, tour the healthcare center and check to see if the staff seems attentive to residents, if the facility is clean. If the healthcare center is Medicare certified, visit Medicare.gov for details on complaints, deficiencies, staffing and more.
Why is there an entrance fee for CCRCs?
Teri Brant:
Entrance fees assure a wide array of services and amenities and long-term protection to keep the community sustainable. Typically, people use the proceeds of the sale of their home to pay for the entrance fee without needing to dip into other assets.
The refundable portion of the entrance fee varies from community to community. Many CCRCs offer a choice of refundable options to best suit individual financial goals. The percentage of refund ability that you choose will be returned to you, your heirs or your estate.
How do residency contracts address future costs of assisted living or skilled nursing care?
Teri Brant:
All things being equal, there is generally a trade-off between the amount you pay while living independently and the amount you will pay if you require care services. With some contracts, you may pay less today but more when you need care services. With others, you pay more today but care services are deeply discounted.
Investigate the published rates for the healthcare center, because it may reflect only the cost for semi-private rooms, which means the resident would have to add the difference. Some providers offer only private rooms.
Why is there a medical and financial approval process to move to a CCRC?
Because a “Type A” CCRC provides access for care and services over one’s lifetime, the community must fully understand the level of risk involved in underwriting. Unfortunately, some people wait too long and don’t qualify for continuing care coverage. Moving to a CCRC before a need arises is the best decision.
Why choose a CCRC?
Elaine, Buena Vida resident since 2016
A CCRC like Buena Vida Estates provides a contract for care and services during my lifetime. There’s financial assurance you won’t be asked to leave due to a medical or financial reason. This gives me and my family peace of mind.
Buena Vida Estates
2129 West New Haven Ave.
West Melbourne, FL 32904
321-385-8168
Facebook: /Buenavidaestates/
Instagram: @bvestates
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