Long-term care insurance and CCRCs

If you’re one of the 7.5 million Americans with a long-term care insurance policy, you know you’ve already secured coverage for care in case you need help performing at least two activities of daily living (ADLs) without help.

As you consider the next phase of your retirement, though, you’re likely considering what you want your life to look like; for many, ensuring access to care is important, but it’s only a small piece of the pie.

Senior living options like Continuing Care Retirement Communities (or CCRCs, also known as Life Plan Communities) offer access to high-quality care, too — but integrated into a holistic package: Low-maintenance living, a community of contemporaries, and opportunities to stay mentally and physically active.

So, do you really need long-term care insurance if you’re exploring a move to a CCRC? And do you need the services of a CCRC if you’ve already got long-term care insurance coverage?


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I already have long-term care insurance. Do I need the services of a CCRC?

Unless you have a crystal ball, there’s no telling what the future holds in terms of your care needs or the costs you’ll encounter. If you do need care, a long-term care policy can provide financial benefits up to a point. 

Every insurance policy has coverage limits: daily and monthly limits as well as lifetime benefits caps. Plus, all policies are time limited. Be aware of both those limits as you make plans for future care.

A CCRC, on the other hand, offers residents lifetime access to future care at more predictable rates or even with little to no increase in your monthly fees. 

Long-term care insurance and your CCRC contract can work well together. Ask both your insurance carrier and any Life Plan Communities you’re considering about how your coverage will align with on-site care (and any associated costs).

However, the question of whether you “need” the services of a Life Plan Community goes beyond care.

What is a CCRC?

CCRCs are an investment in long-term care and long-term life enjoyment.

These communities are designed to make life a little easier: Maintenance, security, housekeeping and more are covered, so residents can focus on what they love about life and remain independent for as long as possible. Life Plan Communities (including TidePointe) offer daily opportunities for socialization, robust lifestyle programming, dining services, support from a dedicated staff, and a variety of services and amenities.

Residents also have built-in access to an on-site care center, should they need it. The care center will provide anything from short-term rehabilitation in skilled nursing or longer-term care services in assisted living or even memory care. At TidePointe, members have priority access to Broad Creek Care Center.

Learn more about the benefits of CCRCs

Two women walk down a path. One has a cane, and the other is walking a small dog on a leash.

Do I need long-term care insurance in a Life Plan Community?

Long-term care insurance coverage can dovetail nicely with the services offered in a CCRC. How well they play together depends on your individual policy as well as the contract type of your CCRC.

Here’s a quick look at the different types of contracts CCRCs offer:

Can long-term care insurance lower my costs in a Life Plan Community?

When you apply to live at a Life Plan Community, you’ll be asked for your financial records to confirm that you have the means to pay for your living expenses and care. 

If you have long-term care insurance, your total benefit amount may be included as an asset in the documentation you provide. 

Bottom line: Long-term care insurance can offer a cushion for the costs of a Life Plan Community. But as you can see, there are some caveats and plenty of individual factors to consider.

Everyone’s financial situation is different. Speak with a trusted financial professional to learn more about the ramifications of long-term care insurance and your retirement plans.

What's your plan for future care?

Navigating healthcare for seniors is rarely a pleasure cruise — but we know these waters pretty well.

Our teams chat all the time with seniors and their loved ones about paying for care and how long-term care insurance can pair with life in a CCRC.

Want to talk about planning for future care needs or hear more about life at TidePointe?