Slash Continuing Care Retirement Community CCRC Costs Now
Strategies to Reduce CCRC Costs
While the costs might seem daunting, there are several strategies you can employ to make CCRCs more affordable:
1. **Evaluate Different Contract Types**: CCRCs offer various contract types, including Life Care, Modified, and Fee-for-Service contracts. Life Care contracts, though generally more expensive upfront, provide the most comprehensive coverage and can offer significant savings on long-term care costs2.
2. **Consider Location and Timing**: The cost of living in a CCRC can differ greatly by geographic area. Choosing a community in a less expensive area can reduce costs. Additionally, moving during off-peak times might result in lower entrance fees or promotional discounts3.
3. **Explore Financial Assistance Programs**: Some states offer financial assistance programs for seniors, which can help offset the costs of living in a CCRC. It's worth researching these options to see if you qualify for any subsidies or aid4.