Continuing Care Retirement Communities (CCRCs)

WHAT IS A CONTINUING CARE
RETIREMENT COMMUNITY (CCRC)?

A CCRC, also known as a Life Care/Plan Community, is a type of senior living for older adults who want to stay in the same place through different phases of the aging process. This allows for aging-in-place. This type of retirement living is designed on a tiered approach where healthy residents initially live independently in single-family homes, apartments, or condominiums. When assistance with everyday activities becomes necessary, they move into assisted living or skilled nursing care within the same community.

LIFESTYLE

Amenities
CCRCs provide residents with amenities and conveniences for an on-campus resort-like lifestyle. amenities may include:

  • Bank
  • Beauty Salon & Barber Shop
  • Walking trails
  • Swimming pool
  • Tennis courts Golf/putting green
  • Fitness center Library
  • Craft room Game room
  • Garden Art & music studio
  • Coffee shop Post office
  • Private dining room

Residential Services
Services vary depending on level of care, independent, assisted living, or skilled nursing care. Residential services may include:

  • Cable and internet
  • Home repairs and maintenance
  • Transportation
  • Security
  • Housekeeping
  • Laundry
  • Dining

Daily Living & Personal Care Services
CCRC contracts usually cover the basic needs including assistance with daily living and personal care needs of Activities of Daily Living (ADLs). ADLs include:

  • Bathing
  • Dressing
  • Grooming
  • Eating Ambulation
  • Transferring
  • Toileting
  • Hygiene
  • Walking/similar tasks
  • Supervision & help with medications

Health Care Services
In general, CCRC contracts do not cover health care costs, but depending on which type of contract is chosen, health care costs can be mitigated.

Contracts and Costs

CCRCs require an entrance fee as well as monthly maintenance fees. Entrance fees can range greatly between communities from an average of $300,000 to up to $1,000,000 and monthly fees from $3,000 to $5,000. There are generally four types of CCRC contracts.

  • Extensive
  • Modified
  • Fee-for-service
  • Pay-as-you-go

Familiarize yourself with the state laws that form the basic regulations governing CCRCs. The Office of Insurance Regulation (OIR) regulates the financial solvency of CCRCs. The Agency for Health Care Administration (AHCA), on the other hand, regulates other CCRC aspects, such as assisted living, skilled nursing care, quality-of- care issues and concerns with medical facilities.