Continuum Care Retirement Communities (CCRC)
CCRC’s are retirement communities that have an entire campus of living choices from private homes, independent living apartments to assisted living apartments and even skilled nursing facilities on the campus. The residents can age in a place without having to relocate. They provide a type of housing no matter what your medical needs may be in the future.
To live at a CCRC, there is usually an entrance fee or “buy in”. Others may operate on a rental basis only depending on the state of the economy at the time of move in. With a buy in fee there are STILL monthly payments that cover rent, meals, services, amenities and/ or medical care. Many times the community will have requirements to live there. They may be based on age, income, health status and or financial assets. Many will require the residents be independent upon entering.
Be careful to consider the long term benefits of the “buy-in”. Talk to your Elder Care Advisor about this type of choice before making a final decision.
Payment Source- Private Pay Only
(Medicare and LTC Insurance may cover a stay at the skilled nursing for short term rehab)
Cost: Buy-in can range from $100K - $750K
Average Cost: $400,000 plus monthly rental and care fee per person