Retirement Communities

What is a Continuing Care Retirement Community (CCRC)?

A CCRC offer seniors the ability to age in place without ever having to move for health reasons. CCRCs provide a continuum of care that includes everything from independent and assisted living to memory care and skilled nursing. Continuing care offers the convenience of having healthcare and support services in one location where seniors can easily transition from one residential care setting to another.

How do I pay for a CCRC?

CCRCs charge two fees – a onetime entry fee and a monthly maintenance fee.  The entry fee and monthly maintenance fee depend on the type of services and amenities offered by the CCRC. Residents meet the monthly fee with Social Security and pension income, while the funds for the entry fee are often obtained from the sale of the senior’s home.

What if I am interested in a CCRC?

If you are interested in a CCRC, you should seek the advice of an attorney to help you understand the contract before you sign. You should also scrutinize several annual reports and balance sheets of the CCRC and ask if an actuarial study has been performed. The actuarial study will reveal whether the CCRC will be able to meet its obligations several years down the road.

Retirement Communities PDF

Acknowledgements & Disclaimer: This Fact Sheet was prepared by West Tennessee Legal Services (WTLS) and made possible by Serving Tennessee Seniors-administered by The Community Foundation of Middle Tennessee at the request of the Chancery Court. WTLS thanks the Tennessee Bar Association for its permission to use The Legal Handbook for Tennessee Seniors (2014 edition) as a primary information source. This publication is supported, in part, by funds provided by the Southwest Area Agency on Aging and Disability, the Tennessee Commission on Aging and Disability, and the U.S. Department of Health and Human Services. The content herein does not necessarily reflect the opinion or policy of the Southwest Area Agency on Aging and Disability or any agency of Tennessee or the U.S. government. Fact Sheets are for information only and not intended to replace legal advice. If you are in need of legal help, call WTLS at (800) 372-8346, or seek the help of a private attorney. (Revised 5/2017)