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A closer look at continuing-care retirement communities

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Sooner or later, we all have to think about our later years in life and where we’d ideally like to spend them. For some, that might mean moving into a continuing-care retirement community. Commonly referred to as CCRCs, they are a long-term care option for older people who want to stay in the same place as they age and their medical needs typically increase.

But CCRCs come with a hefty price tag not everyone can afford. The Charlotte Ledger reports: “The expansive Aldersgate campus on Shamrock Drive in east Charlotte is home to about 570 residents who pay entrance fees ranging from $112,000 to $640,000 and monthly fees of between $2,500 and $6,500.”

So where do those who can’t afford a CCRC go? And how will the cost of later-life housing impact future generations?

Plus, we take a look at the financial standing of Aldersgate, whose CEO was dismissed in January. Last year state regulators stepped in to oversee its finances. The N.C. Department of Insurance, which oversees retirement communities, declared Aldersgate “potentially insolvent” and gave administrators 150 days to take corrective action, including $1.8 million in entrance fee refunds owed to former residents.

GUESTS:

Cristina Bolling, managing editor of The Charlotte Ledger
Curtis English, senior placement specialist at Bluedot Cares
Katherine Pearson, professor of law from Penn State Dickinson Law

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Sarah Delia is a Senior Producer for Charlotte Talks with Mike Collins. Sarah joined the WFAE news team in 2014. An Edward R. Murrow Award-winning journalist, Sarah has lived and told stories from Maine, New York, Indiana, Alabama, Virginia and North Carolina. Sarah received her B.A. in English and Art history from James Madison University, where she began her broadcast career at college radio station WXJM. Sarah has interned and worked at NPR in Washington DC, interned and freelanced for WNYC, and attended the Salt Institute for Radio Documentary Studies.