You should, of course, consult with your attorney before making a major commitment. And, you should also contact the facilities of interest for current prices, amenities and availability. When contacting the CCRCs of interest, you should request complete price lists, with details on options, refunds or discounts. Many CCRCs provide what is called a Disclosure Statement, with this information, so you should request this, as well. Some states require this document to be submitted to a state agency.

After you have assembled the prices lists, options, discounts and amenities, you can compare facilities, based on your priorities. If you are primarily concerned about your ability to pay the costs of Long-Term-Care, you may want to consider a Class A CCRC, with lifetime assisted living and nursing care. However, you should understand that you may not need nursing care, even though you are paying for it. If you want to hedge your bets (You expect to be in the 80% of the aging population that does not need long-term-care.), you may want a Class B CCRC, with discounted Assisted Living & Nursing Care. After you have determined how you will provide for Health-Care, then you can look at options or discounts, to either reduce Entrance Fees (by accepting a lower Refund), or provide for Asset Preservation (by accepting a higher Entrance Fee). Only you can decide how much risk you are willing to take or how much of your assets you want to pass down to your beneficiaries. There are no perfect CCRCs! Some compromises will have to be made to balance your priorities. This publication can provide you with information upon which you can make an informed decision.

I have included a Worksheet at the back of this book, for you to develop your own comparable costs. I have also included instructions on how to fill out the Worksheet, and establish your own “Rankings” on facilities, based on your priorities and estate plans. You can also find a spreadsheet on the web-page at www.ccrcdata.org, which you can download to your own computer, which may help in your understanding.