What is a CCRC? Word of the Week #2
Word of the Week:
[su_highlight]Continuing Care Retirement Community, or CCRC[/su_highlight]
One type of community not many seniors know about is a Continuing Care Retirement Community (CCRC). Â A CCRC offers a full continuum of care for seniors on one campus. Â This allows residents to stay in one place even if their care needs change. Â The services and amenities of the buildings are as diverse as the residents they serve. Most will have independent living, assisted living, skilled nursing, memory care, transportation, meals, housekeeping, maintenance, health services and varying social, wellness and educational programs.
This can be a little confusing because most senior housing campuses today do offer the full continuum of care. Â Â Youâ€™ll find senior housing campuses with independent living, assisted living, memory care andÂ assess your housing needs skilled nursing care.Â The thing to keep in mind is that it is not the campus that defines the CCRC model.
CCRCs in Minnesota require a contract that explains the details of the housing and services youâ€™ll receive while living there. Â All of the CCRCs in Minnesota also require an entrance fee with varying degrees of refund ability when you no longer live there. Â In addition, there are monthly fees based on the size of the unit, the number of occupants per unit, and how youâ€™ve structured your contract.
There are 3 basic types of contracts for CCRCs:
Model A. Life Care-this contract offers unlimited health care services with no additional monthly fee for as long as you live on the campus.
Model B. Modified:-this contract offers services for a defined amount of time (For Example, a Transitional Care Unit for 14 days). Â Of course you can receive additional services as needed, but your monthly costs will likely increase.
Model C. Fee for Service â€“Â The entrance fee tends to be a little lower, but health care services are paid for at market rates.
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