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Who are you caring for?
Which best describes their mobility?
How well are they maintaining their hygiene?
How are they managing their medications?
Does their living environment pose any safety concerns?
Fall risks, spoiled food, or other threats to wellbeing
Are they experiencing any memory loss?
Which best describes your loved one's social life?
Acknowledgment of Disclosures and Authorization
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid. We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour. APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment. You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints. Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights. APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.I agree that: A.I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information"). B.APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink. C.APFM may send all communications to me electronically via e-mail or by access to an APFM web site. D.If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records. E.This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year. F.You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
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Mostly Independent
Your loved one may not require home care or assisted living services at this time. However, continue to monitor their condition for changes and consider occasional in-home care services for help as needed.
Remember, this assessment is not a substitute for professional advice.
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I have heard of something similar, once. Essentially, what it amounts to is the purchase of an annuity: you invest what I think most people would consider an enormous-ish amount of money, and the longer you live the better the theoretical return on your investment. In this case, you would purchase the right to be resident indefinitely in the facility, which has a cash equivalent of whatever the rental/ground rent currently is + whatever speculation leads you to believe it might become.
Only, as my sister put it with her inimitable frankness: "she might die [within two years], and then the money would be wasted." For us it never became a practical option anyway.
I wouldn't touch it with a stick unless: You have absolute and well-founded confidence in the provider's reputation. You have obtained reliable professional advice on the terms and conditions. There are ample funds to cover all of the factors which necessarily won't form part of the occupancy contract. The person or the person's family has fall-back options should the whole scheme blow up in your face for unforeseeable reasons.
The primary advantage would be having some of the biggest headaches and nightmares - where to live, what happens if the person's needs change, what if her investments crash, who's to manage her money, what if she goes on forever and the money runs out, what if there's a taxation revolution - off your mind permanently. Unless something goes horribly wrong.
The idea is that you have a place to live forever, from IL to AL to MC or LTC.
I would be very cautious though. I have heard of these places going bankrupt, selling and new owners not honoring contract (how they legally do that is beyond me) and people being moved into the next level of care, against their will to bring in another large buy-in.
Yes, if like Barb says it's a CCRC community. Meaning they have independent living, Assisted Living and Skilled Nursing. Its set up that the person can live independently then transition into Assisted Living and then Skilled Nursing if needed.
The one near me, once you enter skilled nursing 90% of the downpayment goes towards your care. Once gone, Medicaid is applied for. They are guaranteeing you care for the rest of your life.
Read the contract carefully. My GFs Aunt was still required to pay for her apartment. When she entered the Skilled Nursing after a stroke, her POA was billed for her care. The POA came back and said, no, you have her 90%.
Hi, You may also want to check if they offer a refund on the payment if the person passes away within a certain amount of time. Some places offer this to appeal to an older demographic. For example, if the person passes away within 2 years the family might get a 50% refund, 25% at 3 years, and then nothing after that. CCRC's can be a good deal, but you need to 'buy in' at a reasonable age to reap the benefits, and make sure that they do offer a complete continuity of care. They can be a good deal for someone that sells their house and uses that money for the buy in and then monthly rent.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
Only, as my sister put it with her inimitable frankness: "she might die [within two years], and then the money would be wasted." For us it never became a practical option anyway.
I wouldn't touch it with a stick unless:
You have absolute and well-founded confidence in the provider's reputation.
You have obtained reliable professional advice on the terms and conditions.
There are ample funds to cover all of the factors which necessarily won't form part of the occupancy contract.
The person or the person's family has fall-back options should the whole scheme blow up in your face for unforeseeable reasons.
The primary advantage would be having some of the biggest headaches and nightmares - where to live, what happens if the person's needs change, what if her investments crash, who's to manage her money, what if she goes on forever and the money runs out, what if there's a taxation revolution - off your mind permanently. Unless something goes horribly wrong.
The idea is that you have a place to live forever, from IL to AL to MC or LTC.
I would be very cautious though. I have heard of these places going bankrupt, selling and new owners not honoring contract (how they legally do that is beyond me) and people being moved into the next level of care, against their will to bring in another large buy-in.
The one near me, once you enter skilled nursing 90% of the downpayment goes towards your care. Once gone, Medicaid is applied for. They are guaranteeing you care for the rest of your life.
Read the contract carefully. My GFs Aunt was still required to pay for her apartment. When she entered the Skilled Nursing after a stroke, her POA was billed for her care. The POA came back and said, no, you have her 90%.
You may also want to check if they offer a refund on the payment if the person passes away within a certain amount of time. Some places offer this to appeal to an older demographic. For example, if the person passes away within 2 years the family might get a 50% refund, 25% at 3 years, and then nothing after that. CCRC's can be a good deal, but you need to 'buy in' at a reasonable age to reap the benefits, and make sure that they do offer a complete continuity of care. They can be a good deal for someone that sells their house and uses that money for the buy in and then monthly rent.