Continuing Care Retirement Community (CCRC)

Retirement Guide

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Continuing Care Retirement Community (CCRC)
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Carol Woods

Entrance Fee Range $102,900 – $482,100

Monthly Fee Range $2,466 – $5,531

Contract Options Modified: Entrance fee and monthly payments cover housing, residential services such as meals and housekeeping, and some health-related services. Health-related services are provided at a discounted rate.

Refund Options Declining refund: Pay entry fee; full refund in first 90 days; refund declines at rate of 2% each additional month; after 50 months, no refund.

Medicare Certified Yes

Long-Term Care Insurance Not required; could help pay for discounted per diems.

Minimum Age 65 (co-applicant must be at least 55), but any age can get on the waiting list.

Carolina Meadows

A vibrant community where residents live a lifestyle of wellness and engagement. The 168-acre campus includes a nine-hole golf course, pristine walking trails, tennis courts, community gardens and more. Residents enjoy six distinctive dining venues, a state-of-the-art wellness center and an auditorium that offers lectures and performances.

Entrance Fee Range $132,300 – $779,000

Monthly Fee Range $2,938 – $4,855

Contract Options Fee for Service: Housing, residential services and guaranteed access to health-related services in exchange for entrance fee and monthly fee. Health-related services are provided at per-diem rates, which vary. Home Care services are also available. Equity: See next section.

Refund Options Upon departure, resident/estate receives refund based on Entry Fee calculation and, if applicable, additional 50% of equity in the residence; calculation is current Entry Fee minus remarketing and refurbishing fees compared to original Entry Fee, and then sharing in appreciation of unit if new balance exceeds original payment.

Medicare Certified Yes, Medicare Part B

Long-Term Care Insurance Not required, but welcome

Minimum Age 62

Croasdaile Village

Located on 110 acres in a pastoral setting that provides a country feel fewer than 6 miles from downtown Durham and 3 miles from Duke University. Residents enjoy green spaces with yards, gardening and plenty of walking trails, a dog park, lakes and a full continuum of care on-site. The central campus buildings are connected, with a state-of-the-art wellness center, an aquatic center with a heated pool/hot tub, salon/spa, gift shop, auditorium, multipurpose rooms, woodworking shop, art studio, rehab gym with water therapy pool, ambulatory clinic, multiple dining venues and a chapel.

Entrance Fee Range $59,317 – $387,605 (range includes single and double occupancy)

Monthly Fee Range $2,074 – $4,743 (single occupancy with second person fee $1,312 on all residential homes)

Contract Options Fee for Service: Entrance fee and monthly payments cover housing, residential services such as meals, housekeeping, utilities bundle (cable/internet), transportation and maintenance services. Advanced levels of health services are provided at per-diem rates.

Refund Options Declining Refund: Option 1: Pay lower entry fee; refund declines at rate of 2% per month; after 50 months, no refund. Option 2: 50% Refund – pay higher entry fee; refund declines at a rate of 2% per month until 50% of residence fee is accrued; refund limited to 50%. Option 3: 90% Refund – pay higher entry fee; refund declines at a rate of 2% per month until 10% of fee is accrued; refund limited to 90%.

Medicare Certified Yes; rehab on-site

Medicaid Certified Yes; Pavilion Skilled Nursing

Long-Term Care Insurance Not required, but welcome

Minimum Age 62

Galloway Ridge

Crafted with heart, soul and Southern charm, Galloway Ridge is a secure, health-conscious lifestyle destination. The 62-acre campus is just south of Chapel Hill and adjacent to Fearrington Village, an 1,100-acre planned community that offers miles of trails and sidewalks. Jordan Lake and the Haw River are just a short distance away for outdoor enthusiasts. The main building includes 248 independent living apartments, a library and business center, living room, Chapin Auditorium, Weathersfield Café, Bistro Dining Room, Camellia Fine Dining Room, Belties Lounge, billiards room, Players Lounge, a movie theater with stadium seating, art studio, woodworking shop, multiple meeting spaces and conference room. The Arbor, a Medicare-certified health care center, is connected to the building and offers 96 private rooms for assisted living, memory care and skilled nursing. The residents of the 52 independent living villas have a short walk to all of these amenities. The Galloway Ridge WellPlex allows residents to maintain their optimal level of health and well-being. It includes the Duke Center for Living, a 20,000-square-foot fitness center, Duke Primary Care and the Center for Physical Rehabilitation. For on-campus primary care services, residents can choose between UNC Health Care within the main building or Duke Primary Care in the WellPlex. Residents and staff volunteer thousands of hours each year to local agencies and partnerships.

Entrance Fee Range $231,000 – $1,281,000

Monthly Fee Range $3,358 – $7,816

Contract Options Extensive: Entrance fee and monthly payments cover housing, residential services such as meals and housekeeping and unlimited assisted and skilled nursing. Additional meal fee required as one moves from one level of care to another.

Refund Options Declining Refund: Option 1: Time-Sensitive – Pay lower entry fee; refund declines at rate of 4% in first month; 2% each additional month; after 4 years, no refund. Option 2: 75% Refund, Not Time-Sensitive – Pay higher entry fee; receive 75% of what you paid in.

Medicare Certified Yes

Long-Term Care Insurance Not required

Minimum Age 62

Glenaire

Entrance Fee Range $67,000 – $739,000

Monthly Fee Range $2,587 – $5,397

Contract Options Modified: Entrance fee and monthly payments cover housing, residential services such as meals and housekeeping and some health-related services. Health-related services are provided at subsidized rate or are free for a specified number of days.

Refund Options Option 1: Declining Refund – refund declines at rate of 2% per month for 48 months. Option 2: 50% refundable. Option 3: 90% refundable.

Medicare Certified Yes

Long-Term Care Insurance Not required

Minimum Age 62 (co-applicant must be at least 58)

SearStone

Entrance Fee Range $378,000 – $883,000

Monthly Fee Range $3,600 – $7,640 (second-person fee, $1,530) Contract Options Type A LifeCare contract. Residents pay a one-time LifeCare fee to cover costs of assisted living, skilled nurses and/or memory support. The LifeCare program has significant tax advantages and works well with long-term care policies.

Refund Options Entrance fee 100% refundable

Medicare Certified No

Long-Term Care Insurance Yes

Minimum Age 62

Springmoor

Entrance Fee Range Call for pricing.

Monthly Fee Range Call for pricing.

Contract Options Modified: Housing, residential services and some health-related services in exchange for entrance fee and monthly fee, which includes 30 days of free health care (with a maximum balance of 90 days), then is available at a discounted rate.

Refund Options Option 1: Life Occupancy – Residence & Care refund declines at 4% per month for 25 months, then no refund. Option 2: 50% Life Equity – refund declines at 2% per month for 25 months. The remaining 50% is returned to the resident or estate after residency is terminated and within 30 days of re-occupancy of the residential unit. Option 3: 100% Life Equity – 100% of the Residence & Care fee is returned to the resident or estate after residency is terminated. The refund is available, once residency is terminated, six years after initial move-in date, or 30 days after re- occupancy of the residential unit, if six years has passed.

Medicare Certified No

Long-Term Care Insurance Not required

Minimum Age 62

The Cedars of Chapel Hill

Purchase Price Range $300,000s – $800,000s*

Monthly Fee Range $3,133 – $7,782

Contract Options *Equity: Actual real estate purchase, with transfer of ownership of the unit. If resident moves to health center, no added amount except two meals per day. After 90 days, member pays discounted rate.

Refund Options Not applicable because of ownership

Medicare Certified Yes

Long-Term Care Insurance Not required

Minimum Age 62 (co-applicant must be at least 50)

The Forest at Duke

Celebrating 29 years of community, The Forest at Duke is a vibrant continuing care retirement community located in the heart of Durham. Homes, cottages, apartments – each offer spacious, contemporary living with access to a range of amenities coupled with wellness. At The Forest, residents discover a retirement that is as varied, engaging and multi-faceted as you are. The Forest strives to strengthen the community and organizations that enrich the lives of Durham residents.

Entrance Fee Range $97,970 – $615,891

Monthly Fee Range $3,342 – $8,013

Contract Options Modified: Entrance fee and monthly payments cover housing, residential services such as meals and housekeeping, and some health-related services. Health-related services are provided at a greatly discounted rate and are free for a specified number of days.

Refund Options The Forest retains $10,000 of each person’s entry fee as a health care reserve. The remaining balance of the entry fee, the residence fee, is refundable based on the following plan: 2% of the Residence Fee accrues to The Forest at Duke each month. The refund decreases to zero over 50 months.

Medicare Certified Yes

Long-Term Care Insurance Not required, but welcome.

Minimum Age 65 (co-applicant must be at least 62)

The Village at Brookwood

The community’s intimate size makes it easy to build strong friendships. Residents can participate in physical activities that promote healthy living, feed their competitive spirit with fun games and mental challenges, de-stress with their favorite hobby or just relax. The community prides itself on its dining, including two newly renovated options: Edith Street Café and Lakeside Dining, plus a new tavern that serves beer, wine and cocktails. Enjoy engaging conversation with friends over a meal prepared by the executive chef while dining staff tends to your every need.

Entrance Fee Range Options start at $101,600

Monthly Fee Range Starting at $2,339

Contract Options Option 1: Extensive – LifeCare Residential Living: Garden Homes & Apartments, bundled services, campus amenities, maintenance and guaranteed future health care all covered by the entrance fee and monthly fee. When moving from one level of care to another, the monthly fee reflects a 58% reduction of the daily skilled nursing rate. Option 2: Fee for Service – Garden Homes & Apartments, bundled services, campus amenities, maintenance and guaranteed access to future health care are provided in exchange for entrance fee and monthly fee. Health-related services are provided at the per-diem rate.

Refund Options Declining Refund: Option 1: Extensive – Standard Refund is declining over 47 months. 50% and 90% Refund plans are also available. Option 2: Fee for Service – Standard Refund declines over 47 months.

Long-Term Care Insurance Not required, but may help with costs related to Assisted Living, Memory Care, Skilled Care for Fee-for- Service or LifeCare plans.

Minimum Age 62 (co-applicant must be at least 55)

Continuing Care Retirement Community (CCRC)

Entrance Fee $5,000

Monthly Fee Range Independent living: $4,300 – $4,475/one bedroom; $4,600 – $5,000/two bedroom; cottages: $5,400 – $5,700

Contract Options Independent Living: No lease term, no buy-in, month- to-month rental with 60-day move-out notice. Assisted Living: No lease term, no buy-in, month-to-month rental with 14-day move-out notice.

Refund Options 60-day notice to terminate independent living lease

Medicare Certified No, except for therapy services

Long-Term Care Insurance Accepted if resident meets criteria of the policy

Minimum Age 62

Continuing Care Retirement Community (CCRC)

Entrance Fee One month’s rent

Monthly Fee Range $3,095 – $4,200

Contract Options One-year lease; 60-day notice to leave Medicare Certified Therapy services are covered by Medicare.

Long-Term Care Insurance Accepted for personal care and veteran’s benefits

Minimum Age 55

Continuing Care Retirement Community (CCRC)

Entrance Fee One-time community fee, call for pricing

Monthly Fee Range Call for pricing

Contract Options Month-to-month

Medicare Certified No

Long-Term Care Insurance Accepted

Continuing Care Retirement Community (CCRC)

Entrance Fee One-time community fee, call for pricing

Monthly Fee Range Call for pricing

Contract Options Month-to-month

Medicare Certified No

Long-Term Care Insurance Accepted

Continuing Care Retirement Community (CCRC)

Entrance Fee One-time community fee, call for pricing

Monthly Fee Range Call for pricing

Contract Options Month-to-month

Medicare Certified No

Long-Term Care Insurance Accepted

Continuing Care Retirement Community (CCRC)

Entrance Fee One-time community fee, call for pricing

Monthly Fee Range Call for pricing

Contract Options Month-to-month

Medicare Certified No

Long-Term Care Insurance Accepted

Continuing Care Retirement Community (CCRC)

Entrance Fee Application fee required
Monthly Fee Range Call for pricing
Contract Options Monthly rate includes care, dining, activities, laundry and housekeeping
Refund Options 14-day notice required
Medicare Certified Not applicable
Long-Term Care Insurance Not required
Minimum Age 60

Continuing Care Retirement Community (CCRC)

Cambridge Hills Assisted Living recently celebrated its 16th anniversary, serving older adults in the heart of Pittsboro. Owned by a local vet, the community proudly offers a discount to veterans. Entrance Fee Community fee of $1,500

Monthly Fee Range $4,300 – $6,450

Contract Options None. Requires 14-day notice before moving out.

Refund Options Prorated for the first month from the move-in date. Medicare Certified No

Long-Term Care Insurance Accepted

Minimum Age 65

Continuing Care Retirement Community (CCRC)

Entrance Fee Community Fees: $1,000 for a private room; $750 for semi-private

Monthly Fee Range Call for pricing

Contract Options None

Refund Options Requires 14-day notice Medicare Certified No

Long-Term Care Insurance Accepted

Minimum Age 55

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