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Basics of Long Term Care Insurance

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Continuing Care Retirement Communities

Continuing care retirement communities (CCRCs) provide another option for meeting your long term care needs. This option may be very expensive and is only practical for those persons with higher than average incomes and significant assets to protect. CCRCs are residential communities that offer seniors a place to live that offer a variety of services and care, including long term care services. These communities provide, not only housing, but also organized social events, dining facilities, sports facilities, special interest clubs, outings and vacation opportunities. They also provide home care services, nursing facility services, adult home services and access to physician and other professional services for their residents.

Entrance fees for CCRCs may be substantial, and depending on the size and type of the dwelling chosen by the resident, can range in price from approximately $200,000 to $1 million. There is also an additional monthly fee that typically ranges from approximately $2,000 to $5,000.

CCRCs in New York State offer three different types of life care contracts for their residents. One type is all-inclusive (Type A), another provides modified (Type B) services, and the third (Type C) is fee for service:

For a list of operational CCRCs in New York State, select this link (pdf format).

Updated 04/04/2011