- Fee for service – In a fee-for-service community, residents pay an entrance fee that may be lower than with other contract types, but residents pay higher rates when they need additional levels of care such as assisted living or skilled nursing. In addition, certain services and amenities may incur additional charges above the basic monthly fee.
- Life care – Under this contract type, also referred to as an extended contract, residents may receive unlimited access to services and care including assisted living and skilled nursing without incurring additional charges.
- Modified Contract – A modified contract may offer a combination of both of the other types of contracts, with services provided for a specified time period at a fixed rate and additional services provided with higher fees.
When you or a family member make the decision to seek supportive care in a residential setting, a continuing care retirement community (CCRC) may meet your needs. CCRCs offer health care along with a variety of services, amenities and social activities in a single community. As your health needs change, you’ll have access to increasing levels of care. With the option to remain within one community, CCRCs provide enhanced comfort, convenience and support. Before you choose a community, it’s helpful to gain a better understanding of how they work. To assist with your research, we’ve compiled some common questions and answers. Why Should I Consider a Move to a CCRC? CCRCs provide residents with the convenience of a variety of amenities and supportive services — along with health care if and when it is needed — within a single campus. Individuals can transition easily from one residential environment to another while remaining in familiar surroundings, and family members can feel confident about their relative’s care without the need to locate new housing. Individuals choose to move to CCRCs for a variety of reasons. In some cases, they want to relieve family members of worry and the responsibilities of caregiving. In others, individuals have lost a spouse and wish for the companionship and security that CCRCs offer. For many people, the low-maintenance lifestyle serves as the main attraction; with no yard work or household chores to worry about, residents can spend their time building relationships and engaging in activities they enjoy. Additionally, they know that if they should need additional support in the future, they can get it within their familiar community and surroundings. What Levels of Care Are Available? CCRCs, sometimes referred to as life care retirement communities, offer several levels of support to meet a variety of health needs. Communities typically offer independent living, assisted living, skilled nursing and rehabilitation within one campus. Residents may transfer from one level of living to another as they encounter changing health needs. With the full continuum of care available within one campus, individuals can continue to enjoy familiar surroundings and experience the least possible disruption to their lives as they gain access to additional care. Many individuals move to CCRCs as residents of independent living, which is ideal for those who can continue to live on their own but can benefit from a range of amenities and supportive services such as housekeeping, maintenance and transportation. Assisted living provides help for personal care tasks such as bathing, dressing and taking medications, along with the same range of convenient services and amenities as in independent living. Skilled nursing provides personalized health care for individuals who require long-term, continual medical monitoring, and rehabilitation provides temporary support following an injury, illness or hospital stay. What Are the Contract Types? CCRCs offer three basic types of contracts, including: