What Are Continuing Care Retirement Communities (CCRCs) ~ Options In Denver, Colorado

Click here for a list of continuing care retirement communities in the Denver metro area.

If you have the financial means, continuing care retirement communities can be the answer to your senior living needs – not just today, but for the rest of your life, no matter what happens with your health.

What Are Continuing Care Retirement Communities (CCRCs)
Continuing care retirement communities have been around in the U.S. since the 1960s, but their expansion in the Denver metro area and throughout Colorado is a relatively new phenomenon. Also known as “life care communities,” these continuing care communities are often built in a campus-like setting, with independent living, assisted living, memory care, and skilled nursing care buildings near each other. These communities operate on the principle that they’ll take care of residents, at whatever level of care they require, until the day they die, for a fixed monthly cost (which only rises according to pre-determined, incremental increases).

Large Upfront Investment Required For Continuing Care Retirement Communities
If that sounds too good to be true, it’s because continuing care retirement communities are able to provide this guarantee (lifetime care at a fixed, predictable cost) because they require a large upfront fee, which can be upwards of $250,000 per person.

In some cases, the continuing care community’s move-in fee is completely non-refundable, and in other instances, seniors can receive partial refunds if they decide to move out or when they die (in which case the refund goes to their estate or to a designated beneficiary).

Risk-Reward For Initial Investment
For seniors who don’t have long-term care policies, or for those who have policies with caps (for the number of years of care provided, monthly rates paid, and/or maximum pay-outs), continuing care retirement communities can alleviate stress and financial worries. Going in, seniors can predict their costs of care, regardless of how much care they need. In the long run, continuing care could prove to be a less expensive option than paying for years of memory care or skilled nursing care.

And the peace of mind is incalculable – seniors who move into continuing care retirement communities never have to move again. Even if their health deteriorates, they’re guaranteed that they will be able to live in the same community, surrounded by friends and familiar caregivers.

Services Provided By Continuing Care Retirement Communities (CCRCs) In Denver
Continuing care communities provide every level of care that a senior could need, including these:

How To Compare Continuing Care Retirement Communities (CCRCs) In Denver
When choosing a continuing care retirement community (for yourself or someone you love), here are some of the criteria you can compare:

  • cost per month
  • initial investment or buy-in
  • whether any of the initial investment or buy-in is refundable
  • levels of care provided
  • quality of care provided
  • reputation of the complex

Continuing Care Retirement Communities vs Multi-Level Care Communities In Denver
Continuing care retirement communities can be a better option than communities that offer multiple levels of care in the same complex (such as independent living and assisted living), but can’t guarantee how much that will cost in the future. The drawback to continuing care retirement communities is the large upfront move-in cost. If seniors don’t end up staying in the continuing care community for very long (due to a change of heart, relocation to another state, or death), the true monthly cost of the care can be astronomical.

Click to read about the top 10 reasons to move into a continuing care retirement community (CCRC).

Other Resources For Senior Living In Denver
Listed below, you’ll find more resources that describe other senior living options:
What Is Independent Living
What Is Assisted Living
What Are Residential Care Facilities
What Are Nursing Homes
What Is Memory Care
What Are Multi-Level Care Communities
What Is Hospice Care
What Are In-Home Care Agencies
What Are Senior Advisors