What is a CCRC?

We’re so glad you asked.

We’re a little obsessed with educating people about Continuing Care Retirement Communities. Although a relatively new concept in New England, CCRCs have been around for more than 100 years and are available all over the country.

Continuing Care (also known as Life Care) Communities, most are non-profit and welcome independent residents who can live safely on their own. They enjoy maintenance-free living and many amenities, confident in the knowledge that if health care is ever required in the future, it’s covered, right within their community.

CCRCs generally offer several options beyond Independent Living, usually including Assisted Living, Memory Support, and Nursing Care.

Understanding Differences Between CCRCs

We’re so passionate about the CCRC industry, we wrote a book about it.

Designed for financial or legal advisors, as well as individual consumers, this 26-page workbook answers practical questions and provides handy references for those interested in learning more about how to choose a CCRC.

Download the Insider’s Guide Workbook.


Why Choose a Continuing Care Retirement Community (CCRC)?

Types of CCRC Contracts

Type A

Also known as a life care contract, this contract option can also be considered all-inclusive, as it provides the highest level of insurance of all the CCRC contract options.

Every contract varies, but typically this means that the contract includes housing, a meal plan (generally the equivalent of one meal per day), inside and outside maintenance services, access to programs and activities, and, importantly, includes unlimited use of the health care services, without an increase in the monthly fee (with the exception of the two additional meals when in health care). Many of these contracts also offer refundability, which means a portion (50-90%) of your original one-time entrance fee is refunded to you or your estate, once the resident has left the community and the unit is resold.

RiverWoods Exeter and RiverWoods Durham offer Type A contracts.

Type B

A Type B community will look very similar to a Type A — the real difference is in the contract coverage. Type B contracts provide a defined level of insurance to their residents. Typically, this means that a Type B entrance fee and monthly service fee will be lower than a similar Type A. When a resident moves to health care, then the monthly service fee increases, based on the level of care they receive. However, the rate the resident pays is discounted from the market rate.

The benefit of a Type B contract for a resident is that they get a discount off health care, and don’t pay for care unless they are receiving it. Type B contracts also offer refundable options.

RiverWoods Manchester has recently pioneered a brand new contract option that is the first of its kind in New England. It is a 70% refundable plan, but residents have the option of accessing their 70% refundable portion during their lifetime to cover health care costs. This provides increased value for couples, greater predictability of cash flow, and increased flexibility.

I’d like to know more about RiverWoods Manchester’s innovative Type B contract. Please have a Marketing Counselor contact me! 

Type C

This contract option is often referred to as a fee-for-service model, and many of the for-profit companies are in this space. These contracts often do not require an entrance fee, have the lowest monthly service fees, and can sometimes be rented month to month.  However, there is no guarantee of health care services if and when they are needed, and residents will pay market rate for the care they receive.

Click here for an overview of the contracts offered by RiverWoods Group communities.

A Road Map for Evaluating a CCRC

The RiverWoods Group Chief Financial Officer, Kevin Goyette, wrote a white paper to help people better understand audited financial statements.

A Road Map for Evaluating a Continuing Care Retirement Community

Beth-Ann Roberts, Trustee

CCRCs offer a community and home environment at a time in life when access to health care, friends, and peace of mind are so very important.

Frequently Asked Questions

  • What Health Care Services are offered at your communities?

    At a RiverWoods Group community, you benefit from living within a vibrant and active senior living community and the peace of mind that comes from knowing you have a plan, no matter what your future health care needs may be. Join us as an independent resident, and if your needs change in the future, you are able to receive Assisted Living, Memory Support, or Nursing Care within the same community, cared for by staff you know and trust.

    When or if you ever need help with the activities of daily living, we’ll design a personalized plan to help you live life to its fullest — within the same community while maintaining your privacy and your highest level of independence.

    Sometimes, all it takes is one patch of ice, one missed step or one minor fall, and your entire life can be thrown into discord for months. A routine hip surgery or knee replacement becomes a significant lifestyle struggle. Be assured that rehabilitative care is here, when or if you ever need it.

    See what kind of Supportive Living options each RiverWoods Group Community has to offer:

  • Are your financials available for viewing?

    Our audited financials and annual reports may be viewed and downloaded here.

  • What are the tax advantages of moving to a RiverWoods Group Community?

    There are many financial implications to consider before moving to a CCRC. Becoming a resident at a RiverWoods Group community may present worthwhile tax and financial advantages.

    Pre-Paid Medical Expenses
    A portion of the one-time entrance fee may be included on federal tax return as a prepaid medical expense. A portion of the monthly service fee may also be deducted (typically 30% to 40%).

    RiverWoods engages an outside expert each year to calculate the specific amount of the monthly service fees and entrance fees that are deductible as a medical expense on federal tax returns that year. The expert reviews applicable regulations and rulings in compiling their analysis.

    New Hampshire’s Tax Advantage

    New Hampshire is one of the most attractive states to retire in, due to an appealing tax profile:

    • No general sales tax.
    • No state income tax.
    • No state estate tax.
    • No capital gains tax.
    • Lowest tax burden of any New England state.
    • In the Top 10 of Lowest Tax States in the US. (www.taxfoundation.org)
  • What types of activities are offered?

    Life at a RiverWoods Group Community brings every resident the opportunity to make new friends who share your common interests. From organized outings to casual gatherings over shared interests, there’s always something going on and something fun to do at each of our vibrant communities.

    Typical outings might be to restaurants, museums, trips to Boston, downtown Manchester, Portland, the Seacoast, a historical tour, or perhaps a sporting venue. Available activities on our campuses include fitness classes, concerts, socials, duplicate bridge, art or pottery classes, working in the woodshop, music recitals, volunteering,  or attending a lecture taught by a resident.

    Our communities are created by residents for residents! If you have an interest, we’ll help you find an outlet.

    Click here for more information on our activities and social opportunities at RiverWoods Exeter.

    Click here for more information on the active and vibrant community at RiverWoods Manchester.

    Click here for more information on the exciting, new community forming at RiverWoods Durham.

  • What amenities are available to residents at your communities?

    Each RiverWoods community is unique but one thing they have in common is an active and carefree lifestyle without the hassles of housekeeping or home-maintenance. On every RiverWoods Group campus you will find:

    • Vibrant Activities and Social Opportunities 
    • Dining Options
    • Underground and Covered Parking
    • Housekeeping and Home Maintenance Services
    • Snow Removal
    • Pet-Friendly Living 
    • Wellness Clinic 
    • Salon Services
    • Guest Accommodations 
    • Gardening Opportunities

    For more information on the amenities available at each community, please visit RiverWoods Exeter, RiverWoods Durham, RiverWoods Manchester.