Articles related to focusing on healthy aging, prevention, mobility, cognition, nutrition, independence, and caregiving support.
Since 2020, at least 16 continuing care retirement communities (CCRCs) have filed for bankruptcy, confirming that not all facilities are financially stable. The critical question, "Are there any CCRCs in the US that are failing?" is one every prospective resident must consider.
According to Investopedia, at least 16 Continuing Care Retirement Communities (CCRCs) have filed for bankruptcy since 2020, putting thousands of older adults at risk of losing their life savings. This statistic highlights a critical question for prospective residents: **what are the risks of CCRC** living? While offering comprehensive care, CCRCs come with significant financial and contractual considerations that demand serious scrutiny.
According to the National Investment Center for Seniors Housing & Care (NIC), the average entrance fee for a Continuing Care Retirement Community (CCRC) was over $414,000 in 2022. This significant upfront financial investment is a major drawback of some continuing care facilities, representing a large portion of a person's life savings. Prospective residents must weigh this cost against the benefits of access to long-term care.
According to Investopedia, at least 16 continuing care retirement communities (CCRCs) have filed for bankruptcy since 2020 alone, highlighting a serious financial risk for residents. This leads to a crucial question: **What is a major problem with continuing care retirement communities?**
According to a 2022 survey from the National Investment Center for Seniors Housing & Care, the average CCRC entrance fee was over $414,000, underscoring the significant financial commitment involved. Before deciding, it's crucial to understand what are the disadvantages of a CCRC, beyond just the high cost.
