Define: Continuing Care Retirement Communities

A CCRC is a residential community that offers a range of housing options and services to accommodate the changing needs of its residents as they age, including independent living, assisted living, and skilled nursing care.

CCRCs typically offer three types of contracts: Type A, which includes unlimited access to healthcare services with little to no increase in monthly fees; Type B, which includes a set amount of healthcare services with potential increases in monthly fees; and Type C, which requires residents to pay for healthcare services as needed.

The costs of living in a CCRC can vary widely depending on the location, amenities, and level of care provided. Residents typically pay an entrance fee and monthly fees, which can cover housing, meals, and healthcare services.

CCRCs are designed to accommodate residents as their needs change, so if a resident’s health declines and they require a higher level of care, they can typically transition to assisted living or skilled nursing care within the community.

CCRCs are regulated at the state level, and regulations can vary from state to state. It’s important to research the regulations in your state and ensure that the CCRC you are considering is in compliance with all applicable laws.

Residents of CCRCs typically have the option to bring their own healthcare providers, although the community may also have healthcare professionals on staff to provide care.

Residents of CCRCs often have the ability to customize their living spaces to their liking, although there may be restrictions on major renovations or modifications.

CCRC contracts typically outline the process for leaving the community, including any refund policies for entrance fees and potential penalties for early termination.

It’s important to thoroughly research and visit CCRCs in your area, speak with current residents, and consult with legal and financial advisors to determine if a CCRC is the right fit for your needs and preferences.