A “CCRC” is a Continuing Care Retirement Community, the most comprehensive retirement living option available to seniors in America today.
A CCRC combines the services of an independent living retirement community with an assisted-living facility and a nursing home at a single location.
In exchange for an entrance fee and ongoing monthly service fees, the resident receives the immediate benefit of all of the independent living services, together with the assurance of high quality assisted-living or nursing home services if the need should arise, for the rest of the resident’s life.
Most CCRCs are operated by charitable or religious organizations on a not-for-profit basis. Financial surpluses generated in these CCRCs are reinvested in the community for the benefit of its residents, rather than distributed to investors as dividends. This reinvestment enables most CCRCs to continue to care for their residents who outlive their assets. Virtually all for-profit long-term care facilities require such residents to move out and/or receive government assistance.