Types Of Continuing Care Retirement Communities In Denver

In the Denver metro area, there are a variety of continuing care retirement communities (CCRCs) in Denver. Also known as “life plan communities” or “life care communities,” these types of senior living communities typically offer independent living, assisted living, memory care, and skilled nursing care all on one campus.

CCRCs are similar to multi-level care communities with one huge exception – they require a large upfront “entrance fee” or “membership fee,” but then charge the same monthly fee, regardless of the level of care you receive. The monthly fee typically changes at the beginning of each calendar year, but it’s a predictable amount that won’t increase as you need more services and support.

Entrance Fees or Membership Fees In Continuing Retirement Communities
The entrance fees or membership fees are steep at continuing retirement communities – and even more expensive if you want to have a percentage of the fee refunded to your estate after you die.

As an example, for one person living in a 1-bedroom apartment in a continuing care retirement community in the Denver metro area, the costs might be:

  • $250,000 entrance fee, if 0% is refunded (with a $4,000 monthly cost)
  • $315,000 entrance fee, if 50% is refunded (with a $4,000 monthly cost)
  • $420,000 entrance fee, if 90% is refunded (with a $4,000 monthly cost)

As you’ll notice from the examples above, the higher the percentage of money that’s refunded, the higher the entrance fee.

Choose a larger unit (such as a 2-bedroom apartment or a cottage), and the entrance fee goes up, as does your monthly cost.

Add a second person into the mix (a spouse or partner), and the entrance fee also goes up, as does the monthly cost.

Types Of Housing In Continuing Retirement Communities
The primary types of living choices in continuing retirement communities are:

  • studio apartments
  • 1-bedroom apartments
  • 1-bedroom apartments with dens
  • 2-bedroom apartments
  • 2-bedroom apartments with dens
  • cottages

Moving To A Different Level Of Care In A Continuing Retirement Community
If you need to move to a different level of care in a continuing retirement community (from independent living to assisted living, for example), CCRCs might leave the monthly rate the same. Or they might merely offer “priority admission,” but raise the monthly fee due to your increased level of care.

Know What You’re Getting Into In A Continuing Retirement Community
Continuing retirement communities in the Denver metro area have complex contracts, with a variety of stipulations. Because you’re paying a significant upfront entrance fee or membership fee, it’s very important that you understand what you’re committing to and have a lawyer look over the agreement before you sign it.

If you choose a multi-level care community in Denver, discover that it’s not a good fit, and need to leave, you won’t lose much money. But if you choose a continuing retirement community and don’t want to stay, you potentially risk losing a large part of your life savings or net worth.

In the Denver metro area, there are a variety of continuing care retirement communities in Denver (CCRCs).

If you’re interested in other senior living options in the Denver metro area, see also:
Types Of Independent Living In Denver
Types Of Assisted Living In Denver
Types Of Residential Care Facilities In Denver
Types of Memory Care
Types of Multi-Level Care Communities