What is a Continuing Care Retirement Community?
A Continuing Care Retirement Community (CCRC) provides the answer for a growing number of seniors who are looking for the opportunity to live independently now, with peace of mind for the future should care needs arise.

The Continuing Care Contracts Branch of the California State Department of Social Services (DSS) defines a CCRC as a facility that provides a continuing care contract which includes a promise to provide one or more elements of care for more than one year in exchange for the payment of an entrance fee, periodic charges, or both.

Cardinal Point, an Aegis Signature Community, will operate as a CCRC.  The community will provide beautifully designed residences, with activities and amenities planned to enhance wellness and contemporary living.  Health care services are available on an ala carte basis in your residence, or at the on-site Care Center which offers residential assisted living care paid on a fee-for-service basis when and if you need them.

What is the difference between a CCRC, a Life Care Community, and an Ownership model?
In California, Life Care Communities offer contracts that cover all health care costs from assisted living to hospital care and physician’s visits, which are usually already covered by a resident’s private health insurance and/or Medicare.  Choice of providers and hospitals are usually limited.  Entrance and monthly fees may be higher since they are calculated to cover the cost of potential health care for the entire community. Entrance fees for a Life Care Community typically amortize down to -0- in three to five years, leaving zero to the resident or the estate.

Few retirement communities which operate on an Ownership Model provide a continuum of care that includes assisted living.  Residents of these communities typically must move to another facility for such care with additional expense incurred because the resident or the resident’s estate is responsible for the ongoing monthly fees until the unit is sold, in addition to the broker’s fees for the resale.

Most CCRC’s, including Cardinal Point, are developed and operated by organizations with extensive experience in managing retirement communities and particular expertise in delivering quality health care services while containing costs of operation.  One of the major advantages of living at a CCRC is having health care services available on site.  This proximity allows a spouse or friends to easily visit if one relocates to the Care Center.

At Cardinal Point, up to 90% of the original entrance fee is repaid to the resident or his/her estate when the home is re-reserved and the residency agreement is terminated. 

How does a CCRC differ from a rental retirement community?
At many rental communities, residents who need a higher level of care are required to move to a different facility where assisted living is offered.  It is often difficult to find another situation which meets the standards they currently enjoy and is convenient for the spouse or friends to visit.

Rental communities are not subject to the same stringent regulations as a CCRC and are not subject to the State of California DSS oversight and regulations, which are designed to ensure the same high standards of care and  strong financial management that must be in place at a CCRC.

Typically, there is a greater turnover in rental communities. Residents must move to other facilities when health care is needed, which results in a more transient population.

What is the purpose of an entrance fee and what does it cover?
To provide the financial resources needed to operate as a CCRC, retirement communities in California and elsewhere typically charge an entrance fee and a monthly fee.  The entrance fee helps to keep the monthly fee lower.  At Cardinal Point, the two fees together cover the right of residency in your residence and provide for services such as dining, housekeeping, maintenance both for building and grounds, parking, scheduled transportation, and general wellness program, plus access to community amenities and many activities.

Is there an entrance fee for a second person?
At Cardinal Point we do NOT charge a second person entrance fee.

The second person monthly fee covers only the cost of food, additional utilities, housekeeping, and incidental services such as wellness center services.

Who monitors or regulates CCRCs and the financial operations of these communities? What guarantee do I have that my reservation deposit and my entrance fee are secure?
The financial operation and solvency of CCRCs in California are closely monitored by the DSS (Department of Social Services).  The Community is required to maintain certain cash reserves in amounts sufficient to meet State requirements.

If a couple is living in the community and one spouse requires a higher level of care, does the couple have to move to the Care Center or can the independent spouse remain in their home? Will any additional charges apply?
One of the biggest benefits of CCRCs for couples is that a spouse who is independent can continue living in his or her residence while the spouse who requires a higher level of care can relocate to the Care Center.  Monthly fees will be adjusted to reflect the services for the spouse in the Care Center and required ancillary items.  The option remains, of course, for the couple to both move to the Care Center.