FREE NEWSLETTER
Go to main Forum page »
I came across this article on a website called My Life Site. The website posts articles related to aging but their focus is on Continuing Care Retirement Communities. I find the articles useful as I am starting to research communities near us for getting on waiting lists in the next few years.
We hired an elder law attorney four years ago as we were beginning to travel a lot and figured we should get our legal ducks in a row just in case there happened to be a problem with a flight.
I have been visiting CCRCs since my wife’s death last summer. CCRCs offer a lot of benefits but are expensive. I was advised to have an elder law attorney experienced with CCRC contracts review any contract before signing because there can be gotchas in the contract for those unaware. I have not got to the point of committing to a CCRC yet, but I intend to have an elder law attorney review the contract and possibly help negotiate terms when I do.
For example, there was one very nice CCRC in our city which is expensive and has a long waiting list. I learned by word of mouth that their SNF was not certified by Medicare which means that Medicare will not reimburse for any stay at that SNF. That could be costly plus WHY is the SNF not certified by Medicare?
I want to avoid costly decisions like that when I pull the trigger on a CCRC.
If you want to be a high-class facility, you don’t want any Medicare residents. You want everyone to be paying cash, lots of cash. That’s the clientele they cater to.
don’t want any Medicare residents
I’m wondering whether you meant Medicaid. I’m in a very highly rated CCRC that accepts Medicare (but not Medicaid). This is financially possible for the CCRC because it also requires residents to carry supplemental Medicare insurance (Medigap, e.g, Plan G) or Medicare C (Advantage).
Sorry for mental typo!
Good Summary article. It is imperative to engage a good ECA in complex estates or those where the recipient make outlive their assets. Getting help via Medicaid is not trivial.
“Getting help via Medicaid is not trivial.” That is an understatement. I got Medicaid approval for my mother years ago and the word “opaque” comes to mind regarding Medicaid regulations.
What’s an ECA?
David, thank you for sharing this. We are working with an elder law attorney for Spouse’s mom’s guardianship. I will definitely read and come back and share my thoughts. Chris