How do Continuing Care Retirement Communities differ?
Continuing care retirement communities typically offer three distinct contract types – Type A (extensive agreement), Type B (modified agreement) and Type C (fee-for-service). The difference between these contract types is the amount of assisted living and nursing care included in the contract. Buckingham’s Choice offers a Type C, fee-for-service contract. This type of contract ensures access to on-site assisted living or skilled nursing care when it is needed. Advantages of the Type C contract include: a. Long-term care insurance can be used with this contract type b. Assisted living or skilled nursing care services are paid for only when utilized. c. Lower monthly fees (as compared with a Type A Community) since there is no prepayment for assisted living or nursing care.
