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Chapter 9. Alternative Housing > Continuing Care Retirement Communities

Continuing Care Retirement Communities

Continuing Care Retirement Communities is a term that also represents a broad spectrum of alternative housing arrangements. They formerly were referred to as Life Care Communities. A common thread among Continuing Care Retirement Communities is the providing of housing, meals, nursing home and other health services, as well as social and recreational facilities. A primary feature of a Continuing Care Retirement Community is the availability in one complex of independent living, assisted living and nursing home care arrangements.

Like the more fully independent living Retirement Community, the primary way of financing Continuing Care Retirement Communities is through an initial entrance fee supplemented by regular monthly fee payments. However, a significant number of Continuing Care Retirement Communities have eliminated the entrance fee requirement and are funded entirely through monthly fee payments. Some Continuing Care Retirement Community contracts have provisions for the refund of the entrance fee in full or in part, while others declare the entrance fee nonrefundable. When refunding of the entrance fee is allowed, the fee is generally refunded in full if the senior dies before coming to the Continuing Care Retirement Community, or a portion of the fee is refunded depending upon the amount of time that the elder lived in the particular Continuing Care Retirement Community.


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