The time value of money implications of continuing care retirement community type-a contracts
نویسنده
چکیده
Continuing Care Retirement Communities (CCRCs) are an attractive alternative for those seeking integrated single-site, multi-stage retirement living solutions. CCRCs vary significantly in contractual terms with the most comprehensive being “Type-A”. Under such contracts, a potential resident pays a substantial up-front entrance fee which then guarantees capped expenses over the long-term if the resident progresses through the increasingly levels of assistance and care. CCRC operators are able to plan fairly accurately using the life-expectancy of pools of residents. However, for the individual resident, variations in life expectancy make evaluating such contracts problematic. This paper discusses the time value of money implications of CCRC Type-A contracts.
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