What to Know About the CCRC: a Continuing Care Retirement Community
LIFE PLAN COMMUNITIES OR RENTAL COMMUNITIES: WHICH KIND OF SENIOR LIVING IS BEST FOR YOU
Many factors are involved in choosing a senior living community, from the location and amenities to size and reputation. Another consideration is the method of payment—monthly rent, up-front entrance fee, or a combination of both—especially when deciding between life plan communities and rental communities. Read more to learn the facts to consider about rental communities and life plan communities. We delve into the pros and cons of each, including up-front costs, long-term stability, and availability of care, to help you make the decision that works for your family. Seniors Guide also has a really helpful article outlining all the different senior living options and care levels.
6 IMPORTANT DIFFERENCES: RENTAL VS. BUY-IN COMMUNITIES
As you research senior living community options, you’ll find that most fall into one of two categories: rental retirement communities and continuing care retirement communities (CCRC), also referred to as a “buy in” community. Sometimes these senior living options look quite similar at first, but there are some important details to consider in finding which community suits you best. Read more to learn 6 important differences between the two categories, including a comparison of costs and commitment, care levels, and housing options. AARP has also published this article that helps explain how CCRCs work.
WHY CCRCS APPEAL TO SENIORS
If you’re learning about your options in senior living, you’ve probably found that everyone has their own idea of which lifestyle works best for them. At St. Mark Village, we believe continuing care retirement communities (CCRCs) are an excellent option. Why do so many seniors favor CCRCs? From vibrant lifestyle options, to combatting rising healthcare costs, seniors find peace of mind in CCRCs for a variety of reasons. Read more to find out. Kiplinger’s also published an article discussing this very topic and if a CCRC may be right for you. Check it out!
LIFE CARE PROMISE AT ST. MARK VILLAGE
With Life Care at St. Mark Village, your care is guaranteed for life—even if your financial situation changes. That’s our promise to you. Choosing Life Care means financial security, value, and peace of mind. Your care is guaranteed from the moment you move into an independent living apartment, in our village, with your community and your support system. We remove the worry so you can focus on fun and fulfillment. Learn more here, including answers to some frequently asked questions about Life Care.
ST. MARK VILLAGE RESIDENT TESTIMONIALS
“My husband and I have been here for six years and they have been six of the most wonderful years of our lives... Our family is very happy with our living here because they know if we need help it will be here in minutes and much sooner than any of them could be here to see to our needs. Not only has St. Mark Village given us a happier life experience, but also our entire family.” - Barbara K.
HOW CCRCS PROTECT SENIORS FROM THE INCREASING COSTS OF CARE
For seniors concerned about the increasing costs of senior living, there is a very bright spot on the horizon—one that guarantees both access to future care needs, as well as protection from rising prices. That bright spot is the option of moving into a continuing care retirement community (CCRC). Read more to find out how CCRCs are able to protect seniors from the increasing costs of long-term care through their unique payment model.
PAYING FOR SENIOR LIVING: HOW A CONTINUUM OF CARE HELPS
A Life Care Community gives you and your family a plan, not only for a continuum of care as your needs change but also for financial security for the future. Moving into a continuing care retirement community is definitely an option you should consider as you do your research on paying for senior living. Read more to find out how Life Care works at St. Mark Village, and to explore different options for funding your senior living needs.
5 HELPFUL TIPS WHEN CONSIDERING IF LIFE CARE IS IN YOUR BUDGET
Do you find the future security of a Life Care community appealing but are concerned about affording it? Click here for 5 helpful tips to guide you in the planning process when considering if the cost of Life Care is in your budget. You may be surprised to find out how affordable a CCRC is when compared with the sometimes-unpredictable expenses inherent with other senior living options.
THE SENIOR LIVING TAX ADVANTAGE: THE MEDICAL EXPENSE DEDUCTION FOR CCRC LIFE CARE SENIOR LIVING COMMUNITIES
Of all the benefits of choosing a CCRC Life Care community, there is one that many people don’t know about: a surprising tax advantage that can have a tremendous impact on the affordability of this exceptional senior living option. Discover how you can unlock not only a one-time deduction of part of your CCRC entry fee, but also an ongoing deduction of a percentage of your monthly fees! Learn more about it here. A question was also posed on TurboTax’s website that provided a helpful explanation.
FREQUENTLY ASKED QUESTIONS ABOUT TOTAL LIFE CARE AT ST. MARK VILLAGE
Seeking additional information about CCRCs that we haven't mentioned above? We compiled 12 of the most frequently asked questions people have about CCRC Life Care communities like St. Mark Village. Find out the answers here.
LEARN MORE IN OUR FREE GUIDE
Discover how moving to a continuing care retirement community can be life-changing for you and your entire family, and how it’s more affordable than you may think. Download our free guide, Financial Planning for Retirement Living. Or contact us today.
