A continuing care retirement community (CCRC), also known as a life plan community, delivers independent living and an amenity-rich lifestyle with access to onsite higher-level care should medical needs progress. This continuum of care ensures residents have the stability of remaining in the place they call home.
Continuing Care Retirement Communities (CCRCs) – Includes three levels of care: independent, assisted living and skilled nursing care. CCRCs require an entrance fee paid by the applicant upon admission and includes services for more than one year and up to the lifetime of the resident.
Aging In Place VS. One of the biggest differences between an assisted living community and a CCRC is that CCRCs allow residents to “age in place”. In assisted living communities, they can provide care and services for residents that can live with a degree of independence.
Continuing Care Retirement Communities(CCRCs) are a form of community in which a person can enter the community as an independent adult, and then as health deteriorates move within the community to higher acuity settings: first to assisted living and then to a skilled nursing facility — all on the same campus.
A CCRC (Continuing Care Retirement Community also known as a LifePlan community), is a living option for seniors who want to live independently but prefer residing in a community of their peers with the option to increase helpful services as they age.
Essentially, these communities provide care in three different stages: skilled nursing, assisted living, and independent living.
While long-term care is considered to be supportive in nature, skilled nursing is generally designed to rehabilitate a patient so that he can return home if at all possible.
Fact 1: There are several financial advantages to a CCRC. Another advantage to a CCRC is that, typically, entrance fees make it possible for the community to offer a reduced monthly service fee —so you save monthly compared to charges at other types of retirement communities.
What is Continuing Care? Alberta Health Services.
En español | Continuing care retirement communities, also known as CCRCs or life plan communities, are a long-term care option for older people who want to stay in the same place through different phases of the aging process.
CCRC entry fees range from $100,000 up to $1 million, depending on the area of the country you live in and the facility itself. After moving in, you’ll pay a monthly fee. These fees vary, too, from about $2,000 to more than $7,000 at high-end facilities.
Conceptually, a lifecare contract at a CCRC is like a long-term care insurance policy with lifetime unlimited benefits. Other CCRCs offer a contract typically referred to as fee-for-service, or Type C contract. With these residency contracts, residents may pay more for long-term care services but at a discounted rate.
A typical CCRC agreement today will contain language that, if a resident gifts to family or others and is thereby unable to satisfy his or her monthly and other payment obligations, this activity will be considered dissipation of assets and may disqualify the resident from assistance from the community.
CCRCs offer a long-term continuing care contract that provides for housing, residential services, and nursing care, usually in one location, and usually for a resident’s lifetime. It is the Department’s goal to provide the best possible community care licensing service for the people of the State of California.
Seniors older than 62 may qualify to live in a CCRC. If you want to join a Life Care CCRC, you have to first move into independent living. If you need assisted living, Alzheimer’s and dementia care, or skilled nursing when you’re ready to move in, you’ll want to explore options for a rental CCRC.
The majority of CCRCs require a hefty entrance fee, which averages about $320,000, up 3% from 2016, according to the National Investment Center for Seniors Housing and Care, an industry research group.