Tag Archives: Retirement home entrance fees

Retirement home entrance fees

If you’re thinking about buying into a Continuing Care Retirement Community, you need to weigh your options carefully. The new Illinois Medicaid law that went into effect on Jan. 1, 2012, dramatically changes the treatment of entrance fees. Continuing Care Retirement Communities (CCRCs) are communities that provide a full continuum of care for its residents. They have flexible accommodations designed to meet their residents’ health and housing needs as those needs change over time. They offer independent living, assisted living and nursing home care, usually all in one location. As a requirement for admission to most CCRCs, residents are required …

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