Continuing Care Retirement Communities

Continuing Care Retirement Communities article image

Continuing care retirement communities, also known as CCRCs, fall into the category of long-term care options and are oftentimes a good fit for older adults who prefer to stay in the same location through their aging process. Most CCRCs include levels of living including independent living, assisted living, skilled nursing, and memory care. Some have enrollment programs that will accommodate older persons in their residential home before becoming an onsite resident within the community.

Most adults considering a CCRC move into the community while they are still able to live independently, not requiring much, if any, assistance from the staff. If their health changes, there are areas within the community that would better accommodate new needs, such as moving into an apartment in the assisted living area where staff is onsite around the clock for occasional support or eventually into the skilled nursing department or memory care unit where staff is providing full time nursing support to all residents.

One of the primary benefits of taking residence at a CCRC is having access to a wide range of services and amenities within one residential community, maintaining familiarity through the years as a person ages.

The fees for rent and long-term care services provided by a CCRC might be pre-paid by the resident or structured on a fee-for-service basis under a contract that will support the resident for the rest of their life. The average initial investment, measured across 99 major U.S. markets, is $400,000.

A thorough tour of the facility and interview with the Admissions Director is always recommended when considering a long-term care setting. Some questions that could be helpful when considering a CCRC may be:

What services and amenities are included in my initial investment?

Is there a monthly fee and how might it change in the future?

What is the difference between the levels of long-term care offered, and when will I be required to move to the next level of care?

How will the facility assist me in my goal of aging in place?

May I take time to review your residency agreement, including the terms for any return of my initial investment?