expensive for couples than an exten-
sive or modifi ed fee-for-service con-
tract would be.
Not all communities fi t these
payment profi les exactly. A retire-
ment community in Albuquerque,
N.M., requires a one-time entrance
fee that ranges from $89,000 for a
studio apartment to $332,000 for
a 1,400-square-foot townhome with
its own garage. Monthly fees, which
do not increase if an individual’s
level of medical care changes, range
from $1,600 a month for a studio
apartment to $3,500 a month for
the largest apartment. Levels of
care (included in the monthly pay-
ment) start at independent living
and progress as needed to assisted
living, “memory support” (Alzhei-
mer’s disease and dementia care),
and skilled-nursing and intermedi-
ate health care. It offers in-house
Many states
require en-
dowment
communities
to maintain
a fund to
assist resi-
dents who
run out of
money.
physical and other therapies and a
personal trainer. A second person in
a household (a spouse, for instance)
pays a $39,000 entrance fee and
$1,100 a month, regardless of the
type of residence, and receives the
same services and amenities.
Won’t moving into a CCRC affect
my taxes? According to Pacifi c Re-
tirement Services Inc., which oper-
ates a number of CCRCs, “The IRS
7 4 M I L I T A R Y O F F I C E R S E P T E M B E R 2 0 0 8
SSept_retire_finance.indd Sec4:
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