When it comes to senior housing, a Continuing Care Retirement Community, or CCRC, is one of the best options available. CCRCs combine the benefits of independent living centers, assisted living centers, and nursing homes all in one location. These senior housing communities provide the option of a tiered approach to aging. You can begin with an independent housing option, and, as your care becomes more demanding, slowly transition to the assisted living area or nursing home.

The cost of staying in a CCRC may vary, but it is typically the most expensive form of senior housing. It allows for a hassle-free transition from independent living to assisted living or a nursing home. Additionally, at a CCRC, nearly all medical services are provided in-house. As a result, the cost can start anywhere from $100,000-$1,000,000 with additional monthly charges ranging from $3,000-$5,000.

Read on to learn more about the three main contracts available for CCRCs:

• Fees for Service: This type of contract is the least expensive upfront and allows for assisted living and nursing home fees to be paid for in the future. While this contract may benefit independent seniors who want to reap the benefits of a CCRC down the line, it means they’ll have to pay whatever the current market price is at the time for nursing home and assisted living services.
• Modified Contract: A modified contract allows seniors to pay for coverage for a limited time. Once the time is up, they may choose to extend their contract—if they do, they will have to pay additional fees. This type of contract is best suited for seniors who are terminally ill or much older and feel they may not have many years ahead of them.
• Lifetime Contract: A lifetime contract is the most expensive plan, but it also offers the most security. Seniors with a lifetime contract pay upfront for all of their future expenses, with no additional fees or limit to the length of time they can receive care. 

If you are looking for a quality CCRC or senior housing center in Austin, TX, consider Longhorn Village. Longhorn Village includes the freedom of independent and assisted living, while also providing the option for nursing home care in the future. To schedule a visit, call (512) 266-5600. For more information about the center, visit their website today.