Continuing Care Retirement Communities
The cost can range from about $10,000 for a studio apartment to $500,000 for a two-bedroom home with a yard. Residents may either transfer their assets to the facility or pay a large monthly fee that starts around $2,000. Neither insurance nor government programs provide financial help for the direct costs of a CCRC.
It’s important to understand the contract you are entering into and have a complete picture of your financial situation.
Consider up front costs, ongoing payments, and implications for your estate when entering into a CCRC contract.
Learn about using annuities and getting tax credits.