How Continuing Care CCRC Costs Actually Save You Money
You might be surprised to learn how choosing a Continuing Care Retirement Community (CCRC) can actually save you money in the long run, and by taking a moment to browse options, you could uncover the perfect fit for your lifestyle and budget.
Understanding the Cost Structure of CCRCs
Continuing Care Retirement Communities offer a unique blend of housing, healthcare, and lifestyle amenities designed to cater to seniors' evolving needs. Unlike traditional retirement communities, CCRCs provide a continuum of care that includes independent living, assisted living, and skilled nursing care, all within the same community. The cost structure of CCRCs typically involves an entrance fee and monthly service fees, which might seem daunting at first glance. However, these costs often cover a wide range of services and can lead to significant savings over time1.
Long-term Financial Benefits
The financial benefits of CCRCs are primarily rooted in the stability and predictability they offer. Many CCRCs provide contracts that lock in the cost of healthcare services, protecting residents from the rising costs of long-term care. This can be a significant advantage, considering that the average cost of a private room in a nursing home can exceed $100,000 per year2. By securing a place in a CCRC, you effectively hedge against inflation and unexpected health expenses.