Slash Continuing Care Retirement Community CCRC costs smartly today
Strategies for Reducing CCRC Expenses
1. **Evaluate Entrance Fee Options**: Some CCRCs offer refundable entrance fees, which can be a wise choice if you want to preserve assets for heirs. While these options may come with higher monthly fees, they can ultimately provide financial security and peace of mind3.
2. **Consider Contract Types**: CCRCs offer different contract types, such as Life Care, Modified, and Fee-for-Service contracts. Each has distinct financial implications. Life Care contracts, for example, provide comprehensive services for a fixed monthly fee, potentially offering significant savings in the long run4.
3. **Explore Financial Assistance Programs**: Some states offer financial assistance programs for seniors entering CCRCs. These programs can help offset costs, making CCRCs more accessible to a broader range of retirees5.