A Look at Erickson Retirement Communities
Community Living Grows with Population Explosion of Older Adults
Mar 21, 2009
Due to such excessive growth in the number of seniors, many ideas are on the horizon to house and care for the aging population at various care levels. Several companies are positioning themselves to provide needed options. Erickson Retirement communities have a lot to offer this fast-growing segment of society.
History of Erickson Retirement Community
These community-styled developments were founded in the 1980s by successful real estate developer John Erickson. The first one was called Charlestown in Maryland. Building both the facilities and the sense of community has continued since then.
It received the Industry Innovation Award from International Council on Active Aging. Erickson Communities are also listed by Fortune 500 as one of the 100 Best Places to Work.
Financial System at Erickson Retirement Communities
Seniors moving to these apartment homes within such a full-service community usually sell their home and use the proceeds plus other assets to fund the entrance deposit. For this, and a monthly fee on both sides of approximately $2,000, they are guaranteed a home for life. The deposit is fully refundable upon moving or death.
Economically speaking, the target population is middle to upper income seniors. It seems many residents either started with homes mostly paid for, or had enough assets to fund the deposit, and monthly income adequate to pay the monthly fee plus a few hundred or so a month for extras.
Medical and Insurance Use at Erickson Retirement Communities
Erickson Advantage is a private plan for seniors and has been authorized by Medicare. It emphasizes health, independence, and reducing hospitalizations. Residents in other insurance or Medicare plans are free to continue using them.
There is an in-house medical staff with geriatrics experience which accepts insurance. In fact, there are medical services available 24 hours a day.
Wellness programs include a pool, fitness center, and a variety of classes and other activities.
Safety and Security in Apartment Living in a Erickson Communities
The gated communities have an around-the-clock manned entrance with state of the art emergency response systems in all apartments.
There is a special feature on the outside of each front door which allows for staff to monitor safety without disturbing personal privacy. Around midnight, a staff member flips the toggle switch. The next day as occupants get up and around, the switch automatically resets upon first use of the door. If a switch shows no activity, staff checks on the residents. This feature gives peace of mind to family members.
Some Reasons for Choosing a Retirement Community
- Maintenance-free lifestyle (no mowing, property taxes, utility bills to keep up with)
- Chance to operate on a simpler and clearcut budget
- Space and safety is well thought-out
- Clubhouse and many other social amenities
- One great meal a day
- General convenience and camaraderie
- Community activities and in-house services (salon, bank, gift shop)
Due to extensive growth in numbers of older people, more and more seniors are planning for the future and considering retirement options. Erickson Retirement Communities offer an all-in-one package of living within a supportive community. Their program has a planned financial, medical and security system in place for its residents. There are many reasons people consider a retirement community for themselves or their elderly loved ones. Maybe this is a good time to think ahead and do some looking.
Sources:
"Highland Springs Information Notebook" obtained from Erickson Retirement Community in Dallas, Texas.
Personal tour of Highland Springs Retirement Community.
"Erickson Tribune" published by Erickson Retirement Communities, March 2009.
Disclaimer: This article in no way represents Erickson or makes any promises on their behalf.
