Questions to Ask About Continuing Care Retirement Community Fees

Comments Off

1. Are there financial deposits for which I am responsible? If so, what
is the refund policy if I decide not to move to the community?
2. What types of service contracts or agreements are available in this community?
3. How much is the current entrance fee? Are there plans to increase the amount of this fee in the future?
4. Is there a structure for refund or rebate of entrance fees? If so, what is the time period in which the refund/rebate can be granted, and when and under what conditions will the refund/rebate be paid?
5. What services are included in the monthly fee?
6. What are the costs for additional services?
7. How does the organization determine how often and by how much fees will be raised?
8. Over the last few years, what has been the history of monthly fee increases? How frequently have fees been raised and by what percent each time? Why were the fees increased?
9. How will I be notified of changes in the fee structure?
10. If I require more services or move to a different level of care, how will that affect my monthly fee?
11. What happens if I encounter financial difficulty?

Excerpt from Consumer Guide to Understanding Financial Performance and Reporting enhancing PEOPLE’S LIVES in Continuing Care Retirement Communities. The guide is available free of charge at www.carf.org.

Comments are closed