Continuing care retirement communities (CCRC or “life plan communities”) tend to be a bit more complex than other senior living options, primarily due to the various types of continuing care contracts to choose from and the financial commitment. It’s a lifestyle, housing, healthcare, and financial decision all wrapped up in one. myLifeSite seeks to help break down the complexity and equip you to make the best decision for yourself or a family member. Below you will find articles and guides to help you get started learning everything you need to know about CCRCs and closely related options. Be sure to also check out our consumer education videos, senior living glossary, and CCRC basics for more information and guidance.
There are five-six different types of CCRC contracts available within the industry, including lifecare, fee-for-service, modified, equity, and more. Some providers will only offer one contract option, while others may offer multiple options.
Most entry fee life plan communities offer refundable entry fee options. Some entry fee refunds are available on a declining basis, while others remain at a set amount. There are important details to understand and consider as you weigh the entry fee refund options.
Comparing life plan communities (also known as continuing care retirement communities or CCRCs) is challenging, primarily due to the financial trade-offs of the various types of contracts available and the different levels of care included. Here’s what you need to know.
In some cases, a sigificant portion of the CCRC entry fee may be deductible, as well as the ongoing monthly service fees. But there are important details to know before you begin crunching the numbers. CCRC tax deductions should be discussed with your tax professional.
We’ve all seen the popular statistics showing that upsward of 70-80 percent of people will require at least some form of long-term care during their lifetime. But from a financial planning standpoint the bigger question may be… for how long? Here are a few statistics to consider.
This is one of the most popular questions we hear at myLifeSite. Many people wonder if their long-term care insurance is compatible with (or will be accepted by) a continuing care retirement community. Generally speaking the answer is yes, but it may not always be straightforward.
Based on popular questions that MyLifeSite founder, Brad Breeding, has received over the years, this book provides a concise but comprehensive overview of senior living options and important plann ing considerations, particularly as it relates to the complexities of continuing care retirement communities.
Based on popular questions that myLifeSite founder, Brad Breeding, has received over the years, this book provides a concise but comprehensive overview of senior living options and important planning considerations, particularly as it relates to the complexities of continuing care retirement communities.
