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As continuing care retirement communities (CCRCs) gain
in popularity, the payment options are growing as well.
CCRCs offer a spectrum of care, from independent housing
to assisted living to round-the-clock nursing services,
all on one campus. According to an article in the New
York Times, the new payment options mean selecting a
CCRC has become more complicated.
CCRC residents must pay a large entrance fee plus a
monthly fee, but the amount of each fee and what it
covers can vary, depending on the contract. There are
three basic CCRC contracts: life contracts, which cover
unlimited long-term nursing care at little or no
increase in the monthly fee; modified contracts, which
include a specified duration of long-term nursing care,
beyond which fees rise as care increases; and
fee-for-service contracts, in which residents pay a
reduced monthly fee but pay full daily rates for
long-term nursing care.
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