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A Continuing Care Retirement Community (CCRC) is residential community for the remainder of one's life, and with an option of services and living situations. Seniors citizens can move between Assisted Living, Independent Living, and Nursing Home Care that is based on changing requirements at every point in time.
What is a Continuing Care Retirement Community?
CCRC allows senior citizens to "age in place," with a flexible accommodation, which are designed to meet all their housing needs and health since these requirements change over times. The residents who are entering CCRC sign a long term contract, which provides for housing, services, and nursing care, generally in one location only, enabling senior citizens to stay in a familiar setting when they grow older.
The Difference between Assisted Living and Continuing Care Retirement Communities
Advantages of a Continuing Care Retirement Community (CCRC) are:
+ There is no moving needed (except to another building in same community). Seniors can continue to maintain relationships with partners, friends and family members;
+ If a senior becomes well again and no longer needs assistance and nursing care, then care ceases, and the person resumes an independent lifestyle in same community.
A good candidate for a Continuing Care Retirement Community
Virtually any senior can be a good candidate for a Continuing Care Retirement Community. CCRC residents:
Are healthy, independent, and can care for themselves;
Need assistance with every day living; Need skilled care;
Want security of living in a seniors-only community;
Do not want to maintain a house;
Prefer living among their peers;
Have sufficient funds to pay the Continuing Care Retirement Community charges.
Residents commonly pay for entry, or else join the community with a monthly maintenance fee. The entrance costs can be sizable and differ considerably depending on the size and location of the residences. The type of extra services and amenities and the level of financial risk of needing long-term care are deciding factors for overall costs. In addition, there are three basic forms of contracts and fees which may warrant a consultation with a financial planner or an attorney.