Colorado Continuing Care Retirement Communities

Continuing Care Retirement Communities in Colorado

Continuing Care Retirement Communities in Colorado offer seniors the opportunity to enjoy an independent and fulfilling life, for as long as it is possible. In the state of Colorado, which has one of the fastest growing senior populations in the US, there are about one hundred CCRCs. One can choose between different levels of care, benefitting from both residential and healthcare services.

These retirement communities can be found all over the state, prime locations including Denver, Boulder, Larimer – Fort Collins, Pueblo and Steamboat Springs. Additional locations include Colorado Springs, Louisville, Lakewood, Westminster, Thornton, Boulder and Loveland. Who is the ideal candidate? An older adult over the age of 55 or 62, depending on each center, with a reasonable state of health. Financial eligibility is essential, and there are very strict criteria to meet in this regard.

Senior citizens are often encouraged to move into a CCRC as soon as they meet the age requirements, as this decision will offer a number of advantages. By joining early, you will be in a better state of health and thus able to enjoy the perks of independent living. You will be able to take part in the planned activities and be part of a like-minded community. Moreover, you will establish long-term, meaningful relationships with other people, protecting yourself from the damaging effects of social isolation.

The staff working within a CCRC works continuously to support the health, happiness, and well-being of residents. From housing to care quality, seniors benefit from excellent services and amenities. Quality CCRCs have received accreditation from the Commission on Accreditation of Rehabilitation Facilities, as proof of excellence.

CCRC in Colorado - financing and costs

The admittance into a CCRC requires the payment of a substantial entrance fees, which can vary between $160,000 and $750,000, depending on size and location. By comparison, the national average is around $329,000 but there are facilities in which this fee can reach a whooping value of $1.5 million.

If your partner joins you, there will be an additional sum to be paid (usually around $40,000). Smaller one-bedroom housing units are cheaper, while the highest sums of money are paid for bigger units, often with a general surface that is larger than a regular house. Despite being so substantial, these entrance fees are non-refundable most of the times.

There are also monthly fees to be paid, which can range between $2,500 and $5,000. These values are for housing units which ensure independent living, and they depend on the size of the respective unit. The national median is around $2,500. With assisted living, the fees vary between $6,300 and $7,600. Skilled nursing care and memory care are even more expensive.

How does one cover CCRC financing? Prospective residents can sell their property to cover the necessary fees, as well as use other assets or savings. To cover the costs of assisted living or skilled nursing care, one can also rely on private long-term insurance policies. A financial assessment is required to determine whether a certain applicant is eligible for admittance or not.

CCRC in Colorado - services and care levels

The organization of a CCRC is straightforward, and each center offers basically the same levels of care:

Independent living

Assisted living

Skilled nursing care

Memory care

Rehabilitation (not present in all)

The ideal situation is for the resident to move into a CCRC while he/she presents an adequate state of health, so that he/she can enjoy the benefits that come with independent living. However, should the health needs change, one can transition to assisted living or skilled nursing care. These levels cater to complex healthcare needs, and there is also the memory care, which is recommended to those diagnosed with dementia. Rehabilitation is not a separate level per day, but rather a complementary one, a service offered to those who are in clear need of recovery.

With CCRCs, residents have the advantage of being able to remain within the same setting, regardless of the changes affecting their health status. Transitions can occur temporarily or permanently, and the resident will be monitored to determine whether he/she can return to the previous care level. The medical personnel and auxiliary staff will consider a number of factors in recommending transitions, including the health status, potential risks resulting from health changes, difficulties in remaining independent, etc.

CCRC in Colorado - amenities and options

Modern CCRCs offer prospective residents the possibility to live alone, in one-bedroom housing units. Couples can stay together if they want, opting for a larger condo. However, it should be taken into account that an additional fee will be paid for each resident joining the original one.

In terms of amenities & options, the CCRCs in Colorado are quite impressive. These might include but are not limited to:

Wellness centers: exercise classes for specific conditions (Parkinson's disease), strength training, swimming pool, massage, balance and dance classes, etc.

Activities: dancing, photography clubs, art studios, woodworking, etc.

Social gatherings: weekly social hours, social events, group activities

Amenities: modernly-decorated apartments, safety features, religious activities, pet-friendly options, hair salon, newspaper delivery, meal plans.

Residents of Continuing Care Retirement Communities are given the opportunity to choose between a wide range of activities, thus filling their time in a productive manner. The amenities of each senior housing unit are meant to provide a high level of comfort, as well as ensure safe living and prevent accidents. Ultimately, the main idea is to allow an aging adult the possibility to maintain a lifestyle that is both healthy and active.

Pros and cons – should I move into a CCRC?

If you live in the state of Colorado and you are approaching your "golden years", moving into a CCRC might be an option to consider. Here a few pros and cons to help you take an informed decision.

Pros of moving to a CCRC in CO

Part of an active retirement community, where you can enjoy an independent and fulfilling life

All levels of care are available within one single location, and transitions can be made as the need might be

Social inclusion and opportunities to stay both mentally and physically active

Healthcare costs might be covered through private insurance

Reduced risk of depression and anxiety

Cons of moving to a CCRC in CO

Admittance can take months or even years, due to the increased demand

Moving at an older age might make adjustment more difficult

High entrance fee, might not be able to cover it

Community will contain senior citizens exclusively (no age diversity)

It might take time for you to find the CCRC that fits your needs the best.

Life in a CCRC can be fun and full of rewards. If you are thinking about choosing a Continuing Care Retirement Community in Colorado, start the research today and gather all the information you need on what each center has to offer.