Continuing care and life care retirement communities frequently asked questions.
What is a continuing care retirement community?
Continuing care retirement communities, or CCRCs, offer residents a combination of housing, services, amenities and care in return for a monthly fee and, in many cases, an entrance fee. CCRCs focus on the physical, social and emotional well-being of residents by promoting a vibrant lifestyle in a community setting. At the same time, CCRCs offer services such as assisted living, Alzheimer’s/memory support care and skilled nursing care on site so that residents may continue to stay within the same community, close to their spouse, friends and neighbors, even as their care needs change. This assurance, combined with the financial protection that many CCRCs offer, is important to both older adults and to their adult children.
Continuing care retirement communities generally offer one or more of the following contracts:
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Extensive (Type A): Should the need for assisted living, Alzheimer’s/memory support care or skilled nursing care arise, a resident who is approved for continuing care can move to the community’s on-site care center and continue to pay the same monthly fee charged for his or her independent living home, plus charges for extra meals and ancillary items. Because the monthly fee paid by an individual who has been approved for continuing care does not increase if that individual moves to the care center, the individual will typically pay less for care center services than he or she would pay for such services at a comparable care facility without a continuing care contract. Care at these rates is available for an unlimited period for approved individuals.
If one member of a couple requires care and moves to the care center, the other member may remain in the independent living home. The couple continues to pay only the monthly fee for the independent living home, plus charges for extra meals and ancillary items at the care center.
Increases in the monthly fee may occur with increases in inflation or operating costs.
Most Classic Residence by Hyatt continuing care retirement communities offer Type A continuing care, sometimes known as life care.
- Modified (Type B): A limited number of days of care per quarter or lifetime of a resident is provided at a reduced rate. Stays in the care center beyond the agreed-upon period are billed to residents at the market rate. In addition, if one member of a couple needs to move to the care center, the couple would pay the single occupant fee for the independent living residence and the market rate for the care center. If both individuals need to move to the care center after they have used the allocated number of days, each individual would pay the market rate for care.
- Fee-for-service (Type C): Priority access to the care center is offered to residents. The monthly or daily fee for residents while residing in the care center is the market rate.
An additional entrance and monthly fee is charged to couples to help cover the cost of the life care benefits for the second person. Depending upon the terms of the contract, entrance fees may be fully or partially refundable to the resident or to the resident’s estate if he or she leaves the community.
What is life care?
Classic Residence by Hyatt operates primarily Type A continuing care retirement communities (called “life care” except in California). These communities feature assisted living, Alzheimer’s/memory support care and skilled nursing care on site. Residents pay an entrance fee and a monthly fee.
Why is there an entrance fee?
In developing the exceptional style of living that Classic Residence by Hyatt offers, our goal is to create a financial arrangement that appeals to potential residents and provides a reasonable return on Classic Residence by Hyatt’s investment.
Most residents use all or a portion of the proceeds from the sale of their home to pay the entrance fee. As a result, the Classic Residence by Hyatt entrance fee model makes it possible for residents to enjoy the wonderful benefits of a continuing care retirement community without dipping into other assets. Residents enjoy knowing that a portion of their entrance fee will be refunded to them, their children or their estate in the future.
Monthly fees are generally equal to or less than the monthly cost of living residents formerly paid for their homes before moving to Classic Residence by Hyatt, especially when you consider the costs of all of the services that we include.
Are there any tax advantages to living in a continuing care retirement community?
Under current IRS guidelines, the portion of your entrance fee that is associated with the health care component of the community is considered a prepaid medical expense in the year in which the full entrance fee is paid and potentially can be used as a medical deduction on your taxes.
What can I expect from independent living at a Classic Residence by Hyatt continuing care retirement community?
Residents of Classic Residence by Hyatt enjoy a remarkable, fulfilling lifestyle in elegant, luxury surroundings—without the concerns of home ownership and maintenance. Residents—and their families and friends—also benefit from the peace of mind of knowing that wellness services, assisted living and skilled nursing care are available, if the need arises.
Classic Residence by Hyatt continuing care retirement communities feature:
- Spacious homes perfect for independent living, complete with tasteful finishes and thoughtful details. Many Classic Residence by Hyatt homes include features such as private patios or balconies, lovely views, fully equipped kitchens, generous closets and storage, and individual climate control.
- Club-style dining in themed dining venues, with menus prepared by classically trained chefs.
- Classically Caring Cuisine™, with entrées that are generally lower in sodium and fat and desserts that are generally lower in sugar.
- Distinctive services such as light housekeeping, concierge assistance, maintenance, scheduled transportation, wellness/fitness programs, move-in coordination assistance and much, much more.
- An enriching array of programs and events—ranging from book clubs and writers’ groups to walking clubs; from volunteer organizations to travel opportunities; and from outings to area and regional attractions to thought-provoking lecture series. Our full-time resident services staff is on hand to ensure that the enticing calendar of programs and events is responsive to residents’ interests.
- Exceptional amenities such as elegant dining venues, fitness centers, swimming pools, art studios, computer centers, libraries, walking paths, lounges and other richly designed community spaces that complement residents’ vibrant lifestyles.
- Communities may offer wellness and fitness services such as health screenings and health lectures plus and fitness classes like tai chi, yoga and strength training.
In addition to assisted living, Alzheimer’s/memory support care and skilled nursing care, some continuing care retirement communities feature access to home health care services.
Learn more about luxury independent living at Classic Residence by Hyatt.
What can I expect from assisted living and the continuum of care at Classic Residence by Hyatt?
Classic Residence by Hyatt’s continuing care retirement communities offer the added peace of mind that access to additional care and services is available at the community, should the need arise. Residents who qualify for continuing care can move to the on-site care center and continue to pay the same monthly fee charged for their independent living residence, plus additional charges for extra meals and ancillary items.
The care center at each Classic Residence by Hyatt continuing care retirement community has been designed with the comfort and convenience of residents at top of mind. The elegant interior design and tasteful furnishings reflect those of independent living, so residents feel at home. And in every sense they are—their spouse, their neighbors and the friends they have made at the community are just minutes away. The benefits of being able to remain part of the community can’t be overestimated.
Generally, each of our care centers features private accommodations for assisted living, Alzheimer’s/memory support care and skilled nursing care. Our caring staff provides personalized attention in an intimate, beautifully designed residential setting. Care and services are tailored to the individual, creating an atmosphere where dignity is respected, privacy is honored and self-sufficiency is supported and encouraged.
In addition to receiving personalized care under the direction of a licensed nurse, residents enjoy three meals a day prepared by the community’s executive chef, a full calendar of enriching programs and events, and an array of amenities that encourage participation and interaction.
Each Classic Residence by Hyatt care center is managed by a licensed nursing home administrator, a director of nursing and a medical director who provides clinical leadership to the care team.
Where can I find a Classic Residence by Hyatt continuing care retirement community?
Classic Residence by Hyatt features continuing care retirement communities in desirable urban and suburban areas from the East Coast to the West. From distinctive oceanside high-rises to peaceful, lakeside campus-style communities, Classic Residence by Hyatt has a senior living style and setting to match your lifestyle.
Classic Residence by Hyatt and The Plaza Companies (life care)
Scottsdale, Arizona
Classic Residence by Hyatt in Palo Alto (Type A continuing care)
Palo Alto, California
Classic Residence by Hyatt at La Jolla Village (Type A continuing care)
San Diego, California
Classic Residence by Hyatt in Aventura (life care)
Aventura, Florida
Classic Residence by Hyatt at Lakeside Village (life care)
Lantana, Florida
Bentley Village, A Classic Residence by Hyatt (life care)
Naples, Florida
Classic Residence by Hyatt at The Glen (life care)
Glenview, Illinois
Communities under development.
Classic Residence at Silverstone (life care)
Scottsdale, Arizona
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