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Continuing Care Retirement Communities

Sep 12, 2012 at 10:45


If you’ve been considering making the move into senior living, but are unsure of what the best option is to suit your changing needs, then perhaps you should consider a continuing care retirement community (CCRC). CCRCs offer many different services within a single community without needing to move as your needs change. Although they may be more expensive than some other senior living options, many find the benefits of a CCRC far outweigh the extra cost.

What to Expect from a CCRC

A CCRC features the best of independent living, assisted living, and skilled nursing care all under one roof. Those choosing this type of long-term care can expect to find an all-in-one, aging in place experience, with all of the amenities of the different kinds of senior living options. Healthy seniors moving into a CCRC can live independently in an apartment, condominium, or single-family house, depending on the community. If you later require assistance with daily activities, you can then move into nearby assisted living or a nursing care facility. These types of communities offer their residents greater peace of mind, knowing their future care is already planned, without worrying about moving to a different location.

Cost of CCRCs

Continuing care retirement communities are usually among the most expensive of all senior living options, typically requiring a large entrance fee in addition to monthly charges. The entrance fees may range from $100,000 to $1 million, with however much you pay prepaying for your care in advance, in addition to operational fees. Monthly fees can run between $3,000 to $5,000, but may go up as your needs change. The fees will depend on a variety of factors, including the type of housing, your health, and type of contract you choose. Other additional fees may be charged for meals, housekeeping, social activities, and transportation. Most CCRCs will present three types of basic contracts. The extended contract is the most expensive, but offers unlimited care without extra charges. The modified contract offers services for a certain length of time, with higher monthly fees after the time expires. The fee-for-service contract is the cheapest upon enrollment, but assisted living and skilled nursing fees will cost the going market rate.

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