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Continuing Care Retirement Communities in Wyoming
In Wyoming, there are only 15 continuing care retirement communities. These can be found in cities such as Pinedale or Cheyenne. It is worth mentioning that there are not too many CCRCs in the respective part of the US. In fact, Wyoming, along Colorado, Montana, Idaho, Nevada, and Utah, has the lowest number of retirement communities, despite the obvious population boom.
Reaching senior age is a privilege and you should be enjoying every minute of it. If you have been considering making a change, perhaps a continuing care retirement community might be a suitable choice. Within such senior living communities, you can spend your time as you like, taking advantage of the multitude of services and amenities. CCRCs in Wyoming promote independent living but they offer a continuum of care, allowing residents to transition to a higher level when the need arises.
What are the terms to be admitted into a CCRC? First and foremost, all senior residents must be over a certain age, usually over 62. Then, they must be financially independent and capable of covering the required fees. The equity buy-in has to be paid upon moving into the retirement community, being followed by monthly fees. CCRCs can impose additional criteria, for instance they might require residents to present a reasonable state of health, with no chronic conditions. A long-term insurance policy might also be requested.
Continuing Care Retirement Communities in Wyoming - financing and costs
The decision to move into a continuing care retirement community is not an easy one to take, and it involves careful consideration to available financial resources. How can you cover the respective fees? You can use your retirement fund, savings, or assets – the most important thing is that you understand the process, and an experienced lawyer can certainly help you in this direction. Selling your property is another idea, as the funds obtained from the sale can be used to cover the hefty entrance fee.
With Wyoming-based CCRCs, you can expect to pay anywhere between $30,000 and $500,000 as entrance fee. Luxury retirement communities, however, have higher fees, up to $1,000,000. As for the monthly fees, these vary between $1,500 and $4,500. By comparison, the national average is around $2,500. The fees to be paid are influenced by the type of contract, with life care contracts being the most expensive. Rental agreements have no equity buy-ins, but the monthly fees are considerably higher, usually reaching the current market value.
Continuing Care Retirement Communities in Wyoming - care levels and services
A resident is admitted into the retirement community after previously choosing the desired housing unit. The first level is the one of independent living, where the senior adult resides on his/her own, enjoying a comfortable lifestyle. When things change and health demands become more complex, he/she can transition towards assisted living. Within this level, assistance with daily living activities is usually offered.
For residents who have complex health needs, the skilled nursing care level is recommended. Trained staff caters to their healthcare demands, while providing the necessary assistance with daily tasks. Often times, residents benefit from specific care, such as the changing of their feeding tube. Memory care is a level which addresses the very specific needs of dementia residents. Experienced personnel monitors senior adults who have been diagnosed with Alzheimer’s disease, providing treatment and assistance at the same time.
Each transition is based on a careful and thorough assessment of the resident's health status, as well as level of independence and current needs. Sometimes, transitions are necessary to avoid the further degeneration or to prevent potential injuries. It is worth mentioning that transitions can be temporary or permanent, what matters is that the best interest of the resident is always considered.
Life in such a retirement community is meant to be comfortable, so you shouldn't be surprised at the multitude of services offered. Residents can benefit from housekeeping, laundry and linen service, general maintenance, 24/7 security, Internet, cable, and telephone. The list of available services is completed by: emergency call system, transportation to/from appointments, and guest admissions.
CCRC in Wyoming - amenities and options
As the future resident of a CCRC, it makes sense to make inquiries about available options. Did you know that you can take virtual tours of such retirement communities in WY? You can check out the different floor plans and choose the housing unit that suits your needs the most. Usually, such communities have apartments but also garden homes, such as townhouses or cottages. Couples can live together and some of these communities also accept pets.
In case you are wondering about the amenities offered, you will have to happy to know that diversity is promoted in this department as well. Among the most common amenities, you will find the following: swimming pool, learning center, art studio, weekly worship service, tennis court, billiard room, golf course, computer room, library, theater, performance hall, fine dining restaurant, café, walking and hiking trail. Residents diagnosed with dementia have access to special amenities, such as guided walks, memory gardens, or learning courses.
What are some positives and negatives of moving into a CCRC in Wyoming?
Wyoming-based CCRCs offer you the opportunity to age in place and lead a comfortable lifestyle. Are you still trying to decide whether such a retirement community would be a good idea? Check out the following pros and cons!
Pros of moving to a CCRC in WY
CCRCs offer various levels of care, including independent living, assisted living, skilled nursing care, and memory care
Residents begin with independent living and transition to higher levels of care when the time comes
You can change care levels without having to leave the community
Couples remain within the same community, even when their care levels are different
Opportunity to age in a familiar setting, surrounded by like-minded people
Cons of moving to a CCRC in WY
The equity buy-in can be difficult to cover
Monthly fees are high, especially if you have a lower income
Not all CCRCs offer life care contracts and when they do, these are expensive
With rental agreements, there is no equity buy-in, but the monthly fees are considerably higher (in comparison to the other types of contracts)
If the resident changes his/her mind about moving in, the entrance fee might be refunded only partially or not refunded at all (check contract terms before committing to anything)
- Albany County
- Big Horn County
- Campbell County
- Fremont County
- Johnson County
- Laramie County
- Lincoln County
- Natrona County
- Park County
- Platte County
- Rock Springs
- Sheridan County
- Sweetwater County
- Uinta County
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