Is a Continuing Care Retirement Community Right for Me?
When the time comes to downsize, it is important to look at all the available options, which can be overwhelming and time consuming. One way to eliminate at least a few options is to start by determining financial wherewithal and current and/or future healthcare needs.
There are several different types of 55+ living environments in the Indianapolis and surrounding areas. One popular option for senior downsizers is a Continuing Care Retirement Community (CCRC). CCRC’s allow residents to age-in-place typically at the same location no matter the healthcare needs of the individual. The various resources CCRC’s offer allow residents to age in a familiar setting, eliminating the need to move to another location as their health declines.
There are typically longer contracts and a down payment required with a true CCRC. Part of the application for residency into a CCRC will include health and wellness evaluations and a financial evaluation. This is not to say that only the wealthiest Hoosiers can afford to move into a CCRC. There are grants available through churches and other organizations that are worth looking into. Veterans and their surviving spouses may also have benefits available that help pay for the cost of living as healthcare needs increase. For Veterans, visit or call www.va.gov / 1-800-827-1000 to find a local Veteran Affairs representative.
To find a comprehensive list of CCRCs near you, visit www.DownsizingIndy.com.
The Indy Senior Living Series is an informal gathering each month at St. Luke’s United Methodist Church (100 West 86th Street, Indianapolis, IN 46260) on the second Thursday, from 10-11:30am. The November 2018 topic is on Continuing Care Retirement Communities. The event is free to local seniors and folks are encouraged to RSVP. Click here to RSVP or call/text 317.246.9966.
Making the decision to downsize is tough for many seniors and their loved ones. After that, making the decision on where to downsize becomes the next tough decision. Exploring your options will help narrow it down to just one or two senior living environments. The final decision may ultimately be a gut feeling, similar to buying a house. Take time to research, but don’t give yourself paralysis by analysis…at some point, its time to do a gut check to decide if and where you will downsize.