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How Do CCRCs Work?

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Get the facts on continuing care retirement communities.

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We sincerely believe that for many people, moving to a continuing care retirement community (CCRC) is the best move they have ever made. The reason? They tell us! But such an important life decision requires all the facts.

1. The Financial Facts - More Affordable Than You Might Think

Although, it is natural to focus on the change in residence when moving to a continuing care retirement community, Asbury’s communities are actually more similar to an insurance policy, rather than a real estate purchase. You will have a support network in place no matter what happens down the road. This is accomplished through three primary funding sources.

Entrance Fee

  • Even though your residence in a continuing care retirement community is maintenance-free, the community does require maintenance. Entrance fees help provide capital funds for upkeep, enhancements, and the wide range of services, programs and staff that a well-run community require. The Asbury system includes seven CCRCs in four states, and recently marked its 90th year in aging services. With Fitch-rated bonds and strong reserves, Asbury’s financial strength is an important benefit we bring to residents.
  • The one-time entrance fee varies widely according to your residence and which entrance fee plan you choose, declining refundable plan, partial- or fully refundable plan. 

Monthly Service Fee

  • Many people are surprised to find this fee is the same or slightly less than their monthly household budget, especially when factoring in routine home maintenance and unexpected repairs. People typically compare the monthly fee at a continuing care retirement community to a mortgage. But your mortgage pays only for the roof over your head.  Your residence is just the beginning of what is covered by your monthly service fee.
  • The service fee also includes continuing education programs, clubs, on-campus cultural events and regular trips to off-campus events and destinations, a fitness center and classes with certified staff, banking, and dining options for when you don’t want to cook.

Benevolent Care

As a not-for-profit with a faith-based heritage, Asbury is a mission-driven organization that seeks to do all the good we can for those we serve. This pledge includes consideration for benevolent care for residents who outlive their resources through no fault of their own. In 2015, Asbury provided more than $3.5 million in anonymous financial support to residents across our system.

2. A Plan for the Future - Health Services & Wellness Support

A CCRC is designed for aging well, providing options and support that allow you to make the decisions that are best for you as you age. Because of this, a CCRC gives you more control over how your life will unfold.  Many residents also consider the move a gift to their children, who will not face moving them in a crisis or managing their parents' estate. 
Unexpected events are a fact of life. If you become ill, injured or require a hospital stay, you receive priority health care access and rehabilitative services in a place you know with providers you trust. Your residence will be waiting for you when you return.

  • Support in a crisis
    During a hospitalization, your community’s care navigation team springs into action, meeting with your care team and putting in place transportation, a follow-up plan, home care services or equipment for a smooth return to the community and a successful recovery.
  • Temporary health support
    Springhill residents benefit from quality, 24-hour health care services located on campus at the ForestView Health Care Center. Recover from a temporary illness or receive care and therapy following an elective surgery without relocating and leaving your support network behind. (Read about the experience of Springhill resident Mary Stewart here.)
  • Supporting chronic conditions
    Moving to a different level of care can be temporary or permanent as needs change. LeRoy Erickson and his wife moved to an apartment at Bethany Village, an Asbury community in Mechanicsburg, Pa.,) several years before she was diagnosed with dementia. Leroy credits the community's support services with keeping Maryanne and him together in their residence longer than if they had not moved. Further, LeRoy continued to integrate his wife into his daily life much more easily after her eventual move to memory support because she was on the same campus. Watch a short video interview with LeRoy.

3. Timing Your Move - 3 Important Factors

When considering the timing of your move, thinking with your head instead of your heart is important.

  1. Your health: Waiting until you need the health services of a CCRC means losing their wellness benefits, and may put residential living options out of reach. Another consideration is the challenge of selling a house and moving in the best of health – even with the moving coordination a CCRC provides.
  2. The economy: Assets fluctuate, something we were reminded of in 2008. The value of your home and investments change with the markets. Keep an eye on the local markets, engage with a realtor, and if home prices are creeping up, think strategically.
  3. The right fit: An established CCRC is not built-to-order. Unless an expansion is in the works, inventory is limited. If you desire an apartment or cottage or garden home with a specific feature or view and it becomes available, even though it may be sooner than you had planned, be flexible.

Too often new residents say they wish they had moved to Springhill sooner so they could have taken advantage of all the wellness offerings and opportunities for friendship and engagement earlier. Find out why!

Contact us for a tour or to schedule an informal lunch with a Springhill resident.

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