NAPFA Advisor Magazine: CCRCs as a Solution for Long-Term Care

RiverWoods Group VP of Marketing Cathleen Toomey was recently featured in NAPFA (National Association of Personal Financial Advisors) Advisor magazine.

CCRCs as a Solution for Long-Term Care


The continuing care retirement community (CCRC) offers a solution to challenges of older Americans who plan to stay at home and hire in care if necessary, but who face a shortage of caregivers and rising costs. As an advisor, you can help clients to understand their options.

What is a CCRC?

The CCRC has been around for 100 years in the U.S., including 1,900 facilities across the country, 80% of which are non-profit organizations. Many people confuse a CCRC with a typical age-restricted 55-plus community. Both are usually beautifully appointed buildings, with a variety of common areas and dining rooms. However, because a CCRC is an insurance contract, not a real estate transaction, there are significant advantages.

A CCRC is premised on individuals joining when they are 62 or older and able to live independently. They receive a variety of services, such as 24-hour emergency response, housekeeping, inside and outside home maintenance, all utilities, dining services, and access to fitness classes, educational opportunities, and other activities. Then, as residents age, if they need additional care, they are guaranteed access to additional levels of long-term care—assisted living, memory care and nursing care—within the community.

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