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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, make sure you see if the CCRC has any sort of safety net for when people run out of money. I was looking into a few options for my parents, and the communities had a special fund for exactly that. It's one of the reasons I plan on buying into a CCRC when I'm older. I don't want my kids to have to worry about moving me if I outlive my money.[/quote]

My parents CcRC functions like that.  The huge entry fee covers you if you “outlive” your money.  You live for free and they don’t include ss in it.

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You aren't living there for free.  You are prepaying.[/quote]

Yes, you are "prepaying" for higher level care.  However, my parents are in a "luxury CCRC" and have the plan paid for where they do NOT pay anymore for care above Ind Living (except for 3 meals a day versus 1 currently). So currently they pay about $7K total for the 2 of them to have 1-1.5 meals a day and a 2bed/2bath apartment with cleaning, utilities, all maintenance included.  If one goes to "advanced care" they only pay for the extra 2 meals per day.  The other gets to stay in that apartment (or can downgrade, but not required).  If both go to "advanced care of anytype" they will still only pay for the extra meals per day (so $300-500/month).   Once they are both determined to be in advanced care and not moving back (ie not nursing care after a surgery or fall), then they have to give up the apartment.

And if they "run out of money", they will get to live there for free (and run out means spend down your investments---they won't touch your SS payouts, so you use that for medical expenses and basic living expenses (hair cuts, toiletries, etc).    And if you have LTC insurance, they are not forced to "pay that to the CCRC" that is their own money.  (my parents both have a 24 month policy with about $250/day payout.) [/quote]

How does that LTC payout work if not going to a third party vendor?[/quote]

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