Where Will I Live?
IN THIS SECTION:
A dynamic option for changing needs
Continuing Care Retirement Communities (CCRCs) offer a comprehensive “continuum of care” model designed to accommodate residents’ changing needs over time. Residents move in when they’re completely independent, and move through levels of care (from assisted living to skilled nursing care) within the same community.
CCRCs are a long-term investment, with buy-in fees ranging from $200,000 to $900,000 and ongoing $2,000 to $10,000 monthly fees. All future personal and medical care is typically covered under these fees.
Insight
Many people find that having a full range of services and care on-site provides a sense of security and convenience. Though expensive, the predictable pricing structures for care services can simplify financial planning for long-term care. Residents could face additional costs if their care needs exceed covered services at a specific level of care.
Also, be aware that couples with differing care needs may be required to live separately at times.
When it comes to CCRCs, ask yourself:
How much do I value social engagement, recreational activities, or amenities such as dining services, fitness centers, and cultural programs offered by CCRCs?
How do I compare the perceived security of moving to a CCRC against organizing my own care?
Am I ready to make a long-term commitment?
Resources for Continuing Care Retirement Communities
There are some of additional care options that fit well with CCRCs, including:
Assisted Living Consulting Services
Personal Care Services (Non-Medical)
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