TERMS & DEFINITIONS
MAKING THE MOVE
WHAT’S INCLUDED
MONEY MATTERS
TERMS & DEFINITIONS
I am so confused by all the
terms used by the retirement communities I am considering!
We understand your confusion. While there are some standard
definitions used in the industry, and industry associations
and accrediting agencies try to be consistent, there are many
different types or levels of continuing care communities.
And, when you receive marketing materials from these varied
communities, it may be difficult to decipher exactly what
you will get for your investment. It’s important that
you do understand “the fine print” before you
make any final decisions, so be sure to ask plenty of questions.
Below is a list of standard terms and definitions from the
American Association of Homes and Services for the Aging (AAHSA)
that you may find helpful:
Independent Living: Independent
living units are designed for seniors who pay for some congregate
services (e.g., housekeeping, meals) as part of the monthly
fee or rental rate, and who require little, if any, assistance
with activities of daily living. Residents of independent
living units may have some home health care type services
provided to them by in house staff or an outside agency.
Assisted Living: Assisted
living is a state licensed or certified entity for frail seniors
who need assistance with the activities of daily living, but
do not require continuous nursing care. These beds can be
offered in a separate wing, separate floor (or part of a floor),
or a separate building. For purposes of this report, any Alzheimer's/Dementia
Care beds or other Specialty Care beds that are NOT licensed
as nursing beds are included in assisted living.
Nursing Facility: All licensed
nursing beds are included in this category.
Continuing care retirement communities (CCRCs) offer an innovative
and independent lifestyle that is different from other housing
and care options for older people. Through long term contracts
they provide for housing, services and nursing care, usually
all in one location. CCRCs are governed by state regulation
in 38 states. Typically, CCRCs are classified as an insurance
model and are governed at the state department of insurance
or another similar entity. Each of the components making up
a retirement community may also be subject to separate oversight:
the housing units could be regulated at the local level, the
assisted living regulated by the state, and the nursing home
part of the community governed by state and federal regulations.
For purposes of this report, respondents were instructed to
complete the survey if they had at least two levels of care,
one of which MUST be a nursing facility.
The CCRC contract is a legal agreement between the consumer
and the continuing care retirement community. Upon payment
of an entry fee and an ongoing monthly service charge, the
agreement generally secures living accommodations and services,
including health care services, over the long term.
Type A (Extensive Contract): Under
an extensive contract, a resident typically pays an upfront
fee and an ongoing monthly fee in exchange for the right to
lifetime occupancy of an independent living unit and certain
services and amenities. Residents who require assisted living
or nursing care may transfer to the appropriate level and
continue to pay essentially the same monthly fee they had
been paying for independent living. Emerald
Heights is a Type A CCRC.
Type B (Modified Contract): Under
a modified contract, a resident typically pays an upfront
fee and an ongoing monthly service fee for the right to lifetime
occupancy of an independent living unit and certain services
and amenities. However, under a modified contract, a CCRC
is obligated to provide the appropriate level of assisted
living or nursing care to residents of independent living
units, as in an extensive contract, but only for a limited
period of time at the independent living rate (e.g., 30 60
days) or at a discounted rate indefinitely.
Type C (Fee for service Contract): A
fee for service contract may also require an entrance fee,
but does not include any discounted health care or assisted
living services. Under this type of contract, residents who
require assisted living or nursing care pay the regular per
diem rate that directly admitted residents pay; however, they
may receive priority admission or guaranteed admission for
those services.
Rental CCRC: Residents
pay no significant up front entry fee at the time of occupancy
of an independent living unit, and the resident pays the prevailing
market rate for the level of care provided.
You can learn more about the various kinds of Continuing
Care Retirement Communities at www.aahsa.org/consumer_info/default.asp.
You may also find this article, “Life Care Defined,” to
be very informative: www.moaa.org/Magazine/September2005/f_life.asp
MAKING THE MOVE
I am looking
for a place for my mom. She needs help with dressing, medications
and bathing. Can she move into the Corwin
Center directly?
Emerald Heights is designed as a residential/independent
community, and the Assisted Living apartments and Skilled
Nursing beds at The Corwin Center are maintained to serve
existing residents. However, from time to time, there may
be an opportunity for direct entrance to the Assisted Living
program, as space allows. Call 425-556-8100 to inquire.
I’m doing fine in my current
home. Why should I consider a move to Emerald Heights now?
Life is bigger here than you ever imagined! Although no
move is easy, postponing the decision about a move may mean
you
have less control over when that move eventually happens—and
to where. Residents here will tell you to make the move
while you can take full advantage of everything Emerald
Heights
has to offer—not when you’re pressured by
failing health or overwhelmed by trying to keep up with
home maintenance.
Come join us! What are you waiting for?
Isn’t there a long waiting list at Emerald Heights?
Emerald
Heights does maintain a priority list for Future Residents.
In our experience, waiting times for members of our Future
Residents list can vary from a few short months to several
years, depending primarily upon their readiness to move!
I’ve been in my house for so many years that I’m
not sure how to manage a move. Is there someone who can help
with all the details?
Absolutely. A number of very reputable
companies that specialize in helping seniors move are located
in our area! We’ll
be happy to provide you with contact information for these
specialists so that you can find exactly the help you need—from
advice on holding a garage sale to hands-on help packing
and unpacking your belongings.
Doesn’t a move to a retirement community mean my current
lifestyle will change?
Yes. Our current residents will tell
you that their lives have changed—for the better!
As an Emerald Heights resident, you’ll have all the
choices and freedoms you currently enjoy—but without
the restrictions, burdens and chores of maintaining a house
and yard. Our residents
also find that their lives are enhanced by the variety of
social, recreational, physical, educational, spiritual and
volunteer opportunities offered here. Discover for yourself
all that Emerald Heights has to offer!
What’s the first step to moving
in to Emerald Heights?
We
invite you to visit the Emerald Heights campus, enjoy a
complimentary lunch, and learn about the apartment and cottage
floor plans. If you think Emerald Heights is right for
you,
we invite you to join our Future Residents list. With
a $1,000 deposit, you can become a Future Resident, and participate
in a variety of campus activities, stay informed about
community
news and events through regular mailings, and enjoy priority
access to apartments and cottages as they become available.
WHAT’S INCLUDED
What is Life Care?
Emerald Heights’ Life Care program is what sets it
apart.
What is included in my monthly service fee?
Payment of your
Entrance Fee and the Monthly Service Fee entitles you to
lifetime residency in the Emerald Heights residential
unit of your choice. It also includes time-unlimited
assisted living and/or skilled nursing care, as necessary, in the
Corwin Center at Emerald Heights.
The Monthly Service Fee, based on your choice of residential
unit, covers many services and conveniences, including:
- One
meal per day
- Scheduled transportation service
- Building and grounds
maintenance
- Bi-weekly housekeeping
- Weekly flat laundry service
- All utilities except telephone
and premium cable television
- Emergency and security systems
- Planned social activities
- Fitness classes
- Time-unlimited assisted living and/or skilled
nursing care in the Corwin Center
What are the standard features that will be provided in my
apartment or cottage?
Each of the apartments and cottages
at Emerald Heights comes equipped with a full kitchen,
which includes a full-sized
range/oven, dishwasher, microwave, garbage disposal, and
refrigerator with automatic ice-maker.
Your apartment or cottage will also contain its own heat
pump, so you can control both heating and air conditioning
for your
home. And when the fresh air and mild climate of the Pacific
Northwest beckons you outdoors, you can step out to your
own private patio or balcony.
Is
there high-speed Internet access available?
Yes. High-speed
connection to the Internet is available for
a reasonable fee through Emerald Heights’ cable TV
provider.
MONEY MATTERS
How much does it cost to live at Emerald Heights?
As you join
the Emerald Heights community, you'll pay a one-time entrance
fee based upon the size of the residential unit
selected, and the number of people who will be occupying
the unit. A variety of floor plans are available from
which to select.
Why does Emerald Heights
charge an entrance fee?
With your Emerald Heights entrance
fee, you make a one-time
investment in the Emerald Heights Life Care Program and
gain priceless peace of mind. You secure lifetime residency
at Emerald Heights with assisted living services, memory
support/dementia care and skilled nursing care, for whatever
time you need—with no increase in
your monthly fee. Other retirement communities may offer
health services but
will charge significant additional fees when those services
are required. These additional fees can mount and, despite
your good planning, put your financial resources at risk.
Rental communities that don’t require an entrance fee
generally offer limited services on site, and you may be required
to move to another facility if your health declines. At Emerald
Heights, your future costs are predictable, and you have the
peace of mind that comes from knowing you have a home and
care for life.
How are the monthly
service fees calculated? Do they change?
Monthly service
fees for a single person are calculated based
on the size of the apartment occupied. There is a flat
fee charged for an additional person (as in a couple), regardless
of floor plan size. Monthly service fees are reviewed
annually
and are subject to cost of living increases.
How
can I ensure that I have money left in my estate for
my children to inherit?
Choosing a retirement community with
the security of life care is a good first step toward
your goal. You can protect
yourself from catastrophic long-term health care costs,
and you can build a budget with predictable monthly expenses.
Emerald Heights also offers two refundable contract options,
which allow a portion of your entrance fee to be returned
to your estate. While the Traditional Plan requires the
lowest
initial cost for residency, the 50-percent and 90-percent
Refundable Plans may appeal to you, as they guarantee that
funds will return to your estate.
Are
there any tax benefits for moving to Emerald Heights?
The
IRS currently recognizes a percentage of both the initial
Entrance Fee and the ongoing Monthly Service Fees at Emerald
Heights as a medical expense deduction. As you consider
a move to Emerald Heights, we encourage you to consult
your personal tax adviser for more specific information
on this
potential benefit!
I’m not
sure I can afford to make this move.
Many residents
have found that when they do a side-by-side
comparison of our monthly service fees with the costs of
maintaining their homes, the amounts are similar. And, at
Emerald Heights, your monthly service fee includes time-unlimited
assisted living services, memory support/dementia care and
skilled nursing care if and when you need it. At Emerald
Heights, you’ll be free from many daily responsibilities
of maintaining a home and enjoy more time to pursue hobbies,
make new friends and get involved in community projects. One resident calculated what he and his wife would pay to
remain safely in their house as they required additional services
and realized that a move to Emerald Heights was a better value!
Click here for a financial worksheet that can help you compare
the cost of living at Emerald Heights vs. living in and maintaining
a home.
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