Senior Living Guide
Continuing Care Retirement Communities (CCRC)
A continuing care retirement community, sometimes called a life plan community, offers every level of senior living on one campus. Residents usually move in while still independent, and if they later need assisted living, memory care, or skilled nursing, they move within the community rather than starting a new search.
Most CCRCs charge a substantial entrance fee plus a monthly fee, and in exchange guarantee access to care for life. The contract type determines how much of that future care is prepaid.
Who it fits
- Healthy, independent older adults (often in their late 60s to 70s) who want to make one move and never search again.
- Couples who want to stay on the same campus even if one partner needs more care.
- Families who value predictability and are able to fund a large upfront payment, often from the sale of a home.
Contract types
- Type A (Life Care): the highest entrance fee, but assisted living and nursing care are provided at little or no increase in the monthly fee.
- Type B (Modified): a lower entrance fee with a set number of days or a discounted rate for higher care, then market rate.
- Type C (Fee-for-Service): the lowest entrance fee; higher levels of care are paid at full market rate when needed.
- Rental CCRCs: no entrance fee, monthly rent only, with priority access to on-campus care.
What it costs
Entrance fees range widely — from around $100,000 to well over $1 million depending on the contract type, apartment size, and market — with monthly fees commonly $3,000–$7,000. Many contracts refund a portion of the entrance fee (often 50–90%) to the resident or their estate.
Because a CCRC is a long-term financial commitment, review the community's audited financial statements and occupancy rate, and have an attorney or financial planner read the contract before signing.
How to choose
- Tour every level of care on campus, not just independent living — that's where you may spend your later years.
- Ask for the last three years of financial statements and the entrance-fee refund history.
- Understand exactly what triggers a move to a higher level of care and who decides.
- Compare the refund terms and how long refunds have actually taken to pay out.
Questions to ask on a tour
- 1.Which contract types do you offer, and what does each cover when I need assisted living or nursing care?
- 2.What portion of the entrance fee is refundable, and how quickly are refunds paid?
- 3.Can I see your audited financials and current occupancy?
- 4.Is the community accredited (for example by CARF), and when was the last review?
- 5.If my spouse needs memory care, can I stay in our independent living apartment?