According to the Age Well Study by The Mather Institute, residents of life plan communities reported more healthy behaviors and scored higher on positive measures of emotional, social, physical, intellectual and vocational wellness than did older adults living in the community at large The costs and entry fees of these communities create confusion! Join us for a live & interactive discussion to better understand the costs and benefits and a tech solution for evaluation!
Tripp Higgins, President of myLifeSite
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Questions Asked
Chat Transcript
Positive Aging Community Champions - Moving & Downsizing
Positive Aging Community Champions - Life Plan Communities
12:12:02 From Steve Gurney - ProAging Community : https://mylifesite.net/
12:18:15 From Cathy Anderson : Does a CCRC allow a person to live independently and as their needs change due to aging allow the person to receive assistance without having to physically move on to a higher level of care?
12:21:02 From Steve Gurney - ProAging Community : How Do CCRC Payment Structures Work? https://mylifesite.net/blog/post/how-do-ccrc-payment-structures-work/
12:21:18 From Kathy Beck to Hosts and panelists : If a fee-for-service retirement community does not ask a resident to leave even if they outlive their funds, why is a life plan (Type A) community more financially advantageous?
12:21:49 From Gene Poole to Hosts and panelists : Note that part of the entry fee and monthly fees are tax deductible as advance health care expenses. For us as a couple, the monthly fee deductible portion amounts to over $40K/year.
12:24:59 From Becki Bees : The community is often also limited as to what type of care can be provided based on their license.
12:27:26 From Dixcy Bosley to Hosts and panelists : With fewer seniors / boomers able to afford LTC insurance , do you anticipate shift in who can fill CCRCs.? Currently, many in DC have vacancies.
12:27:59 From Kathy Beck to Hosts and panelists : Are you familiar with CCRCs without walls or Kendal without walls? Does it provide anything advantageous other than what essentially amounts to long term care insurance? How can I find a lift of these communities?
12:28:39 From Lisa Wishman to Hosts and panelists : What is a typical entry fee? Is it — as it sounds — a one time fee?
12:28:53 From Elias Papasavvas to Hosts and panelists : That is an excellent point - Financial Advisors and CPAs are often not as well informed as they need to be on the benefits.
12:29:54 From V Barshis : Are you actually going to EXPLAIN the different models, what the fees are for, how they work? Without that, these questions remain meaningless
12:30:43 From Lee Malone to Hosts and panelists : has anyone else lost the audio
12:31:08 From Judith Bauer : Agree with VB. Explain
12:31:39 From Tracy Skalitzky : I noticed on the website that many CCRC's in our area are not listed. How does a CCRC get on the website?
12:33:24 From Steve Gurney - ProAging Community : My Life Site https://mylifesite.net/
12:33:28 From Elias Papasavvas : V, Judith, this article here on Tripp’s website walks through the different models in a nice summary-like way.
12:33:29 From Elias Papasavvas : https://mylifesite.net/blog/post/primer-ccrc-residency-contracts/
12:34:57 From Elias Papasavvas : The fees for each contract vary by community and community location. But usually a good way to start the conversation about the fees is to know the basics shared in that blog article just shared on Tripp’s site.
12:36:27 From Deb Abramson to Hosts and panelists : Are all CCRCs in an area included on your site or only those who have paid to be incuded?
12:36:57 From Elisabeth Robinson to Hosts and panelists : Thanks for bringing up the “At Home” Programs. Most folks don’t know about this.
12:38:00 From Heather Foote : When you speak of 100,000 "assessments taken," is that simply those who complete the form?
12:43:52 From Jim Sanders : Quality metrics? How safe? Depending on staffing levels. How do you choose? Does contract protect me?
12:44:14 From Gene Poole : Huge caution: don’t wait too long to make the move. Best to be young enough and healthy enough to be an active member of the. All too often people wait until they are frail, and many of them have to enter health care or die within months of moving in.
12:44:34 From Paula Stone : Please comment on these two experiences I'm familiar with:
12:44:36 From Gene Poole : Missing word: community
12:44:46 From Heather Foote : Will you be talking of other Life Plan options (B & C) such as plan that doesn't make entrance fee refundable.
12:45:53 From Lisa Wishman to Hosts and panelists : How do you find your organization and this calculator? What is the website?
12:46:37 From Paula Stone : Please comments on these two experiences I'm familiar with: one person was forced to move when she ran out of money; another person was surprised that service coverage for ADLs was time-limited and she had to pay for private aides to get the help she needed (and ran through her assets)
12:49:24 From G M to Hosts and panelists : Are the backend details also shared online?
12:50:02 From Jim Sanders : years fee does not with reality. It is not 3% it is 8-12% year to increase this year. Industry valuation assumes steady 10%+ price increases
12:50:37 From Heather Foote : Following up on issue raised by Jim Sanders, have there been recent studies on how during/post Covid has affected job churn, those who may have worked at Life Plan communities? One CCRC I visited has relied on H.S. students for dining room and those "workers" were now far lower in number.
12:53:19 From Isabelle MELESE-D'HOSPITAL to Hosts and panelists : I suggest you pose your Questions under the Q&A section next to the CHAT, because he’s running through those and NOT the chat questions here….
12:54:03 From Dixcy Bosley to Hosts and panelists : The most important assessment in a CCRC is nursing retention, happy staffing….not granite lobbies
12:54:06 From Paula Stone : Please clarify your privacy policy. For example, do you save our worksheets? What info that we enter would you share with others?
12:56:37 From Steve Gurney - ProAging Community : Continuing Care at Home Discussion https://www.retirementlivingsourcebook.com/videos/continuing-care-at-home
12:56:39 From Elva Roy : Which of your "regions" is Texas in?
13:04:10 From Steve Gurney - ProAging Community : Dee Pekruhn at Leading Age dpekruhn@leadingage.org
13:04:17 From V Barshis : This is a promotion of CCC's, not an education about them. Disappointing.
13:05:14 From Joan Rubin-Kritz to Hosts and panelists : There are more and more CCaH programs starting all the time. Springpoint Choice of NJ and DE has a consulting arm which has helped and continues to help many programs get started.
13:06:16 From JoAnn Lynn : I appreciate knowing about this tool. I am presently looking at Life Plan Communities because I know that is what I want.
13:09:16 From Heather Foote : Repeat question: what is plan type for a "traditional" LifePlan community when there is no refund of entrance fee? (Should be lower cost. Provides same services as Plan A.)
13:14:48 From JoAnn Lynn : In my experience so far, contracts among homes vary. My attorney suggests that she read the contract before I sign.
13:21:54 From Elva Roy : Thank you Tripp. I see that now.
13:25:02 From Shirley Snowden : Thank you. Another great session!
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