What is a Continuing Care Retirement Community?

At first glance, the senior living landscape can be a confusing place. There are 55+ communities, retirement communities with limited health services, and continuing care retirement communities.

For many seniors and their families, a continuing care retirement community makes a lot of sense. You can move into an independent living residence — spending more time doing what you want with access to a wide variety of life-enriching activities and programs — and not have to bother about home maintenance. On top of that, you enjoy added peace of mind knowing a continuum of care is available on campus, if ever needed.

What is a Continuum of Care?

The continuum of care for residents of CCRCs ranges from independent living to assisted living to skilled nursing and rehabilitation. Some CCRCs, like StoneRidge, also offer memory care.

As a resident of a CCRC, if you or your spouse need the services of assisted living or round-the-clock skilled nursing care, for example, you won’t have to look elsewhere for the assistance you need or move into a nursing home you know nothing about. It’s all available on campus a short walk from your independent living residence. And from your time as a resident in independent living, you may already be familiar with the services and staff on the care side of the community. That can be very reassuring when the quality of care for a loved one is top of mind.

What’s the Difference between a CCRC and a Life Plan Community?

A CCRC and a Life Plan Community are the same thing. Many CCRCs, including StoneRidge, adopted the name change to promote the vibrant culture at their communities, in addition to the continuum of care.

The name change shifts the emphasis from being about needing care as you age to living in a positive environment where residents can thrive. At a Life Plan Community, residents can pursue their interests, make new friends and not have to wonder who’ll take care of them should their health needs change.

The Fee Structure of a CCRC

There are two financial components with most CCRCs: the entrance fee and the monthly fee.

Entrance Fee

Also known as a buy-in or admission payment, the entrance fee is a one-time, upfront fee you pay to move into the independent living part of a CCRC. It varies depending on the size of the residence you choose, and whether it will be just you or you and your spouse living in that residence. A portion of the entrance fee may be refundable, depending on the type of contract a CCRC offers. For example, at StoneRidge, up 65% of your entrance fee is refundable — and that’s just one of the contract options we offer. We also offer a nonrefundable entrance fee contract and a rental contract.

Monthly Fee

A monthly service fee covers the services and amenities associated with living at the community. The amount you pay depends on the size of your residence, how many people live there, and the range of services and amenities available to you.

When you add up the costs of living at home, such as property taxes, insurance, utility bills, maintenance and repairs, home security, groceries, gym memberships, and a mortgage (if you have one), the monthly fee at a CCRC can compare quite favorably. Your monthly fee at a CCRC pays for all that and more.

Services included in your monthly fee typically include:

• Maintenance inside and outside your residence
• Housekeeping, which often includes flat linen service
• Utilities
• Scheduled transportation to events, shopping and medical appointments
• 24/7 security and emergency response systems

Amenities included in your monthly fee typically include:

• A dining plan offering chef-prepared meals at a choice of venues
• Access to fitness center and pool with instructor-led classes
• Use of all common spaces such as auditorium, library, game rooms, art studio, woodworking shop, gardens, walking trails, dog park
• Full calendar of activities, events, classes, club meetings, outings and more

Add it all up and it’s easy to see the value of a continuing care retirement community.

Questions? We’re Here to Help!

Moving to a CCRC or Life Plan Community can be one of the best decisions you’ll ever make. Your family won’t have to worry about you and you’ll have more time and opportunities to live life to the fullest. To help you make an informed decision about your future, get in touch. We’re here to answer your questions and help you every step of the way.