Last week, we delved into what characterizes an equity retirement community, as well as possible pros and cons of this senior living option. Prior to that, we examined the characteristics of a rental retirement community. In this third and final installment in our series on the different types of senior living communities, we take a [...]
A continuing care retirement community (CCRC, or life plan community) is a senior living option that offers residents a range of independent living choices but also provides a continuum of long-term care services including assisted living or skilled nursing care if later needed. In addition to the many social and wellness opportunities afforded to CCRC residents, [...]
You’ve made the decision that you want to move to a continuing care retirement community (CCRC, also called a life plan community). You’ve crunched the numbers and can afford the monthly service fee, which, according to 2019 NIC guide (sixth edition), averages $3,353 (though of course some are much higher and others much lower, depending [...]
Many entry fee retirement communities offer residents the choice of a refundable entry fee as an alternative to a traditional, declining balance contract. Learn more about the trade-offs in this blog post from My LifeSite.
According to data collected at myLifeSite, about three quarters of all continuing care retirement communities (CCRCs, or “life plan communities”) require an entry fee, and about 80 percent of these offer a refundable entry fee, with 50 percent and 90 percent refunds being the most popular. It isn’t uncommon for one community to offer a [...]