Life has a funny way of changing when it’s least expected, especially when it comes to our health. We make plans, then a curve ball changes everything. All we can do is make educated decisions using as much information as possible, plan ahead where it makes sense, then follow the curve to see what happens next.
Especially when it comes to big life decisions.
So what happens if you make the commitment to join a continuing care at home (CCaH) plan, then something changes and you’d like to move into a continuing care retirement community (CCRC)? What if a spouse passes away leaving the other alone, family caregivers move far away, or the home becomes too much of a responsibility? Is your initial membership fee investment lost if you make a decision to move?
As the years go by, remaining at home might not be the best option for some people.
What happens when living in your own home becomes less desirable than it once was?
Continuing care at home (CCaH) plans are an innovative new concept, so it’s wise to ask questions as you learn about its benefits and pay close attention to fine print on the contract.
I joined a CCaH but now I want to move into a continuing care retirement community. Will I forfeit my membership fee if I do so?
Contract terms are not identical for all CCaH providers. Some offer complete flexibility to their members, allowing them to transfer the membership fee for their continuing care at home program to any CCRC property owned by the same provider.
At Sun Health, for example, some or all of their fee from their Sun Health at Home plan can be credited toward the entrance fee to join any Sun Health Senior Living community. Members are eligible to make this change at any time during their membership, provided they meet the health and financial requirements established by the CCRC.
They’re even allowed to adjust their plan to a different level, if they decide to keep the CCaH plan to support or complement services offered by the retirement community they’re moving into. Since CCRCs can offer health care services at a variety of different levels, having both plans can be an excellent way to eliminate all out-of-pocket costs for assisted living or memory care.
Transferring fees from a CCaH to a CCRC may not be an option if the member would like to move into a retirement community not owned by the same provider, however. Sun Health at Home members can move into any community owned by Sun Health Senior Living, for example, since they’re owned by the same parent non-profit. If the member would like to move to a different community not owned by Sun Health, the member wouldn’t be able to have their original membership fee credited toward their buy-in costs at the new community. They can still maintain their CCaH plan in their new community or they may choose to terminate their CCaH plan according to the cancellation terms in their contract.
It’s essential to closely read the CCaH contract to determine if transferring to a CCRC is an available option. Language should clearly stipulate terms of the contract, including termination or transference of your plan.
If you’d like to learn more about Sun Health at Home or continuing care at home, reserve your spot now at our free, no-obligation discovery seminar, or call (623) 227- HOME (4663).
Sun Health at Home is the first CCaH program in the Southwestern United States and the only one available in Arizona.