Page 20 avvya yavvy eniiooravvy S iorn or v y io iori by Jim Miller Choosing a Senior Community That Offers All Levels of Care Dear Savvy Senior, Can you help me identify some good senior living communities that off ers all levels of housing and care from independent living to nursing home care? I am in my late seventies and know I need to downsize from my current house, but I want my next move to be my last. One Move Mary Dear Mary, If you want your next move to be your last, an all-inclusive retirement community – also known as a continuing-care retirement community (or CCRC) – is a great option to consider. Here’s what you should know, along with some tips to help you locate one. What are CCRCs? CCRCs are diff erent from other types of senior housing because they provide all levels of housing, services and care in one convenient location. While the appearance and services of CCRCs can vary greatly, most provide apartments or sometimes single-family homes for active independent seniors. In addition, they also off er onsite assisted living for seniors who require help with basic living tasks like bathing, dressing or going to the bathroom, and nursing home care for residents when their health declines. CCRCs also provide a variety of resort-style amenities and services that include community dining halls, exercise facilities, housekeeping, and transportation, as well as many social and recreational activities. But be aware that all these services come at a hefty price. Most communities have entry fees that range from less the $100,000 to more than $1 million, plus ongoing monthly fees that generally range from $2,000 to $5,000 for singles ($3,000 to $6,000 for couples) depending on the facility, services and the contract option you choose. With more than 2,000 CCRCs in operation throughout the U.S, fi nding a facility that fi ts your lifestyle, needs and budget will require some legwork. Here are some steps that can help you proceed. Make a list: To fi nd CCRCs in the area you want to live go to MyLifeSite.net and Caring.com, which provide online lists. Once you’ve located a few, call them to fi nd out if they have any vacancies, what they charge and if they provide the types of services you want. Take a tour: Many CCRCs encourage potential residents to stay overnight and have a few meals in their dining hall. During your visit, notice the upkeep of the facility and talk to the current residents to see how they like living there. Also, check out the assisted living and nursing facilities, and fi nd out how decisions are made to move residents from one level of care to another. Do some research: While on your tour, fi nd out who owns the CCRC and get a copy of their most recently audited fi nancial statement and review it. Also fi nd out their occupancy rate. Unless it’s a newer community fi lling up, occupancy below 80 percent can be a red fl ag that the facility is having fi nancial or management problems. To investigate the CCRC’s long-term care services call your state long-term care ombudsman (see LTCombudsman.org) who can tell you if the assisted living and nursing care services had any complaints or problems. You can also use Medicare’s nursing home compare tool at Medicare.gov/care-compare. Understand the contract and fees: Most CCRCs off er three types of contracts: Life-care, or Type A contracts, which have the highest entry fee but covers all levels of long-term care as needed; Type B, or modifi ed contracts that have lower entry fees but limits long-term care services in the initial fee; and Type C, or feefor-service contracts, which off er the lowest entrance fees but requires you to pay extra for long-term care if you need it. You also need to fi nd out what yearly price increases you can expect? How much of your entry fee is refundable to you if you move or die? And what happens if you outlive your fi nancial resources? To help you sort through all this, consult with your fi nancial advisor or lawyer before committing. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. THE MALDEN ADVOCATE–Friday, April 12, 2024 FUNDING | FROM PAGE 1 ery avenue to try and assist the city in fi nding more funding; the forecast was neither clear nor particularly encouraging. The bottom line is that a key facet of the state school funding formula, Chapter 70, will be rising each year by a just about guaranteed $3 million of mandated city contribution to the total “bill” to educate Malden’s nearly 7,000 public school students. This line item in the Chapter 70 formula is the “Required Local Contribution” figure. Each year since the Student Opportunity Act (SOA) has been in effect, it has risen approximately $3 million. For example, it was $47.8M in FY22, $51.$M in FY 23, $54.4M in FY 24 and this year, FY25, $57.6M. The “Foundation Budget” for FY24 was $117.6M and is $121.4M for FY25. The difference between the two line items is what Chapter 70 is providing, in this case, $63.1M in FY24 and this year, $63.8M in FY25. This represents only a roughly $700,000 increase. With a school budget increase expected this LEGAL NOTICE year due to new staff contracts, city offi cials as early as this past September have been predicting an especially challenging municipal budget and school budget season this year. Malden Ward 4 Councillor Ryan O’Malley did not mince words during Tuesday’s meeting following a detailed presentation led by Sen. Lewis and Reps. Ultrino and Donato. “That $3 million a year will ruin our community,” Councillor O’Malley said. “Once we go through our reserves there are going to be [personnel] layoff s, maybe furloughs. “We really want to resolve this at the state level,” O’Malley continued. “What can we do at the local level? A Proposition 2 1/2 override? Just because we can’t balance our checkbook? No one is going to go for that. Malden is far from alone in this fi nancial imbroglio, the state delegation explained, and they said they working daily on any type of assistance they may be able to tap into. “There is no silver bullet here. There is no simple answer,” Sen. Lewis told the Councillors. “Increasing the schools’ funding level will require state aid, in addition to working on solutions at the local level. It’s going to take multiple strategies.” Rep. Ultrino said a potential solution is not simply “changing the Chapter 70 formula.” “Tweaking the formula will affect all of the communities in the Commonwealth, and maybe a change will help Malden, Medford and Melrose, for example. But will it help rural communities and those on the seacoast? As for why some seemingly similar communities to Malden, like Everett, get more Chapter 70 money – “Then there are comparisons that are not accurate, for instance Malden and Everett. You don’t know all the information on their students, their tax rates. They have more students and families at the poverty level and their property values, overall, do not equal Malden’s.” Ultrino said more information would be forthcoming when the state budget is fi nalized over the next several weeks. Next Week: Some specific strategies that will be pursued at the state level to address Malden’s fi nancial dilemma LEGAL NOTICE INVITATION FOR REQUEST FOR PROPOSALS CITY OF MALDEN The City of Malden invites sealed price, and non-priced proposals, in accordance with M.G.L. c.30B, §6, from Proposers for: MALDEN CENTER STATION REDEVELOPMENT/TRANSIT ORIENTED DEVELOPMENT PLANNING STUDY The RFP will be available by email request at OSPCDinfo@cityofmalden.org after 10:00 am Tuesday, April 16, 2024. Following the deadline for proposals, all proposals received within the time specified will be reviewed by the RFP Committee, and an award will be made to the most advantageous proposer for services. A non-mandatory pre-bid site visit will be held on Tuesday, April 23, 2024 at 9:00 am at the Malden Center MBTA Station. Proposals will be received at the Office of Strategic Planning and Community Development (OSPCD), Malden City Hall, 215 Pleasant Street, 3rd Floor, Room 350, Malden, MA 02148, until 10:00 AM local time on Tuesday, June 4, 2024. Proposals shall be delivered to OSPCD prior to this date and time. Proposals may be delivered Monday, Wednesday and Thursday between the hours of 9:00 am and 4:00 pm, and Tuesday between 9:00 am and 6:00 pm. The office is closed on Fridays. Proposals shall not be deposited in the City of Malden Drop Box located outside of the main entrance to Malden City Hall. The Proposer is solely responsible for delivery of proposals by the prescribed date and time and assumes the risk of any delay due to mail or other delivery method. Proposals will not be accepted nor may submitted proposals be corrected, modified or withdrawn after the deadline for proposals. The City of Malden reserves the right to waive any informalities or to reject any or all proposals received if deemed to be in their best interest. April 12, 2024 For Advertising with Results, call The Advocate Newspapers at 617-387-2200 or Info@advocatenews.net
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