6.1.7 Continuing Care Retirement
Communities and Structured
Settlements
continuing care retirement communities (CCRCs) - answer residential facilities for
seniors that provide a continuum of care based on the changing needs of residents
independent living units (ILUs) - answer seniors who enter a CCRC will usually first live
independently in an ILU with minimal assistance (e.g., emergency call buttons,
housekeeping, and transport to shopping)
assisted living units (ALUs) - answer seniors who need help with at least one activity of
daily living will move to the ALU, where they will receive non-medical assistance, such
as help with bathing and dressing
skilled nursing facility (SNF) - answer seniors who need ongoing medical care will move
to this hospital-like facility
memory care unit (MCU) - answer offered by some CCRCs, for seniors with severe
dementia or other cognitive impairment
Full Life Care (Life Care) - answerresidents pay a large entry fee and monthly payments
in exchange for guaranteed access to all services provided in the facility at no extra
cost, monthly payments are usually level and will only increase with cost of living
adjustments when necessary
Modified Life Care - answerresidents pay a lower entry fee and monthly payments when
they join, however the monthly payments will increase when a resident moves from ILU
to ALU and increase again if the resident moves from ALU to SNF, these increases in
monthly payments are typically less than the full market cost of the additional care
fee-for-service - answerresidents pay an even lower entry fee and monthly payments,
which only cover the accommodation costs, they will also have to pay for all health care
that they receive at the current market rates since there is no pre-funding of health care
costs
structured settlement - answerpayment schedule agreed upon by the injured party (IP)
and the responsible person (RP) for compensation, either through their lawyers or an
insurer if the RP's liability is covered by an insurance policy
Communities and Structured
Settlements
continuing care retirement communities (CCRCs) - answer residential facilities for
seniors that provide a continuum of care based on the changing needs of residents
independent living units (ILUs) - answer seniors who enter a CCRC will usually first live
independently in an ILU with minimal assistance (e.g., emergency call buttons,
housekeeping, and transport to shopping)
assisted living units (ALUs) - answer seniors who need help with at least one activity of
daily living will move to the ALU, where they will receive non-medical assistance, such
as help with bathing and dressing
skilled nursing facility (SNF) - answer seniors who need ongoing medical care will move
to this hospital-like facility
memory care unit (MCU) - answer offered by some CCRCs, for seniors with severe
dementia or other cognitive impairment
Full Life Care (Life Care) - answerresidents pay a large entry fee and monthly payments
in exchange for guaranteed access to all services provided in the facility at no extra
cost, monthly payments are usually level and will only increase with cost of living
adjustments when necessary
Modified Life Care - answerresidents pay a lower entry fee and monthly payments when
they join, however the monthly payments will increase when a resident moves from ILU
to ALU and increase again if the resident moves from ALU to SNF, these increases in
monthly payments are typically less than the full market cost of the additional care
fee-for-service - answerresidents pay an even lower entry fee and monthly payments,
which only cover the accommodation costs, they will also have to pay for all health care
that they receive at the current market rates since there is no pre-funding of health care
costs
structured settlement - answerpayment schedule agreed upon by the injured party (IP)
and the responsible person (RP) for compensation, either through their lawyers or an
insurer if the RP's liability is covered by an insurance policy
