WSJ: CCRCs Branch Out Into Home Care
The Wall Street Journal is reporting that continuing care retirement communities (CCRCs) are starting to branch out from their traditional residence on campus models, by offering care in the home.
Described by the WSJ as CCRCs without walls, the programs dispatch services—administered by aides, physical therapists, nurses and care coordinators—to members’ homes as needed.
While only a dozen of these type of home programs currently exist, it’s up from five in 2007 according to the article.
“A lot of our members are taking a serious look at the concept,” says Steve Maag, director of residential communities at LeadingAge, an advocacy-and-research group representing approximately 1,200 nonprofit CCRCs, among other organizations that cater to older adults.
The programs aren’t cheap, typically requiring the same type of upfront fee as traditional CCRCs. For example, Longwood at Home—a nonprofit “CCRC without walls” in Oakmont, Pa., with 227 members—charges individuals a one-time entrance fee of $5,000 to $150,000, plus monthly fees of $190 to $584. Fees depend on the applicant’s age and the plan selected.
Written by John Yedinak