Home Care and Hospice Care industry Definitions

Continuing Care Retirement Community (CCRC)

Housing planned and operated to provide a continuum of accommodations and services for seniors including, but not limited to, independent living, congregate housing, assisted living, and skilled nursing care. A CCRC resident contract often involves either an entry fee or buy-in fee in addition to the monthly service charges, which may change according to the medical services required. Entry fees may be partially or fully refundable. The fee is used primarily as a method of privately financing the development of the project and for payment for future healthcare. CCRCs are typically licensed by the state. See also Life Care Community.

A CCRC, also referred to as a life-care community, combines residential accommodations with health services. The purpose of a CCRC is to allow residents to receive the appropriate care across a continuum, from independent living to assisted living and skilled nursing care, as their needs change, without having to leave the retirement community. This ensures that residents will be cared for through end-of-life. CCRCs usually charge residents an entrance fee as well as a monthly payment. The entrance fee may include the cost of purchasing a unit, or it may be a one-time fee in order to join the community.

Continuing care retirement communities span a continuum of care according to the needs of senior residents. Services range from assisted living (which provides some housekeeping, social activities, supervision and assistance with basic activities like personal hygiene, dressing, eating and walking) through skilled nursing care for seniors requiring medical care prescribed by a physician.