If you’re exploring senior living options in Denver, Colorado, you’ve likely encountered two distinct financial models: the Life Plan community and the CCRC with a rental plan. Both offer community, connection, and access to care, but they work very differently. This guide breaks down what each model means, how they compare financially, and which might be the better fit for your life and goals.
What Is a Life Plan Community?
A Life Plan community, also known as a Continuing Care Retirement Community, or CCRC, is a senior living model that removes uncertainty about your future care by securing access to multiple levels of support on a single campus. Rather than navigating a series of moves as your health needs change, you establish roots in one community, and your care comes to you.
Life Plan communities are designed for older adults who want to plan with confidence. The core promise: you’ll have access to the care you need, at predictable costs, for as long as you live there.
What a Life Plan community typically includes:
- An entrance fee — substantial but often partially or fully refundable, along with monthly maintenance fees
- A full continuum of care on one campus: independent living, assisted living, memory care, rehabilitation, and skilled nursing
- A contractual guarantee for long-term care services at predetermined or discounted costs
- Potential estate planning benefits, including partial refunds to heirs depending on contract type
- A strong emphasis on wellness programs and preventive health to help residents thrive
Clermont Park’s Life Plan options
Clermont Park offers Type B modified life plan contracts, giving residents meaningful choices:
- 50% or 90% refundable entrance fee contracts — ideal for those who want to preserve an asset for heirs
- A Fully Declining option with a lower entrance fee — a strong fit for those who plan to stay 10–15 years and would rather direct resources toward travel, experiences, or investment
- A 10% discount on monthly fees when a resident transitions to assisted living, memory care, or skilled nursing — financial protection built into the contract
What Is a CCRC with a Rental Plan?
A CCRC with a rental plan offers the same community environment and access to care as a Life Plan community — but with a fundamentally different financial structure. There is no large entrance fee. Instead, residents pay a competitive monthly rate and access care services as needed, billed at market rates at the time of use.
This model appeals to older adults who prefer flexibility, want to keep assets liquid, or aren’t ready to make a significant upfront commitment. It’s a pay-as-you-go approach to senior living, within a community that supports your lifestyle now and your care needs later.
Key characteristics of a CCRC rental plan:
- No large entrance fee, a smaller, one-time community fee at move-in
- Monthly rates priced competitively with the local independent living market
- Care available across the continuum, billed at market rates when needed
- Greater flexibility to relocate without financial penalties
- Optional personal services such as housekeeping or laundry are available à la carte
Clermont Park’s rental neighborhood
Clermont Park’s rental option offers affordable retirement living that adapts to your budget and lifestyle. Monthly fees include all utilities and a dining stipend. You choose which additional services add value to your daily life; nothing is imposed, and nothing is wasted.
Life Plan vs. CCRC Rental Plan: Side-by-Side Comparison
| Life Plan Community | CCRC with Rental Plan | |
| Upfront Cost | Entrance fee (partially refundable options available) | One-time community fee only |
| Monthly Fees | Stable; future care costs often included or discounted | Lower initially; care billed at market rate |
| Care Guarantee | Contractual access to higher levels of care | Care available but at additional cost |
| Flexibility | Long-term commitment; best for 7+ year horizon | Shorter commitment; easier to relocate |
| Best For | Those who want predictability and permanence | Those who prefer flexibility and liquidity |
| Tax Advantages | Potential deduction as prepaid medical expense | Less applicable |
| Estate Planning | Partial refunds possible to heirs | No entrance fee to refund |
Understanding the Long-Term Financial Picture
The rental plan may appear less expensive on day one, and for many people, it is. But the full picture requires looking further ahead.
With a Life Plan community, the entrance fee serves as prepaid care: if you eventually need assisted living, memory care, or skilled nursing, those services are provided at a contracted discount rather than prevailing market rates, which tend to rise over time. For residents who remain in a Life Plan community for seven or more years, the long-term value often becomes significant.
Under a rental plan, care costs are billed at market rates when needed. For people with robust long-term care insurance, or those who are confident they won’t need higher levels of care for many years, this structure may serve them well.
Consulting a financial advisor who specializes in retirement planning can help clarify which option aligns best with your overall financial strategy, and many people are surprised to find that a Life Plan community fits their budget more comfortably than they expected.
Community, Stability, and the Social Side of Senior Living
Financial structure shapes more than just your bank account; it shapes the culture and stability of the community around you.
Life plan communities tend to have more stable resident populations. When people have made a meaningful long-term commitment to a community, they invest in its culture, its relationships, and its shared life. Deep friendships, traditions, and a strong sense of belonging tend to follow.
Rental communities offer a different kind of energy. New neighbors arrive more frequently, which can mean fresh connections and diverse perspectives. For some people, that sense of openness is exactly what they want.
Neither is inherently better; the question is what kind of community you want to build your life in.
How to Choose the Right Option for Your Life
A Life Plan Senior Living community may be the right fit if you:
- Want confidence that future care costs will be predictable and controlled
- Have assets to cover the entrance fee while maintaining comfortable reserves
- Plan to remain in the community for the long term — seven or more years
- Want to preserve assets for heirs through a refundable entrance fee option
- Value a stable, deeply connected community with lower resident turnover
- Would benefit from potential tax advantages on prepaid medical expenses
A CCRC Senior Living with a rental plan may be the right fit if you:
- Prefer to keep assets liquid or invested for now
- Want the flexibility to relocate without financial penalties
- Are entering senior living at a younger age and may not need higher levels of care for many years
- Have long-term care insurance that will offset future care costs
- Are still exploring your options and aren’t ready for a long-term financial commitment
Looking Beyond the Financial Structure
While financial considerations are important, you should also consider these key points as you search for the right retirement community for you.
- Is the community located close to family, healthcare providers, and amenities?
- Does the community culture and social activities match your interests?
- Will the services offered meet your current and future needs?
- What are the resident satisfaction levels and staff turnover rates?
- How financially stable is the organization operating the community?
At Clermont Park, we welcome prospective residents to visit, have a meal, attend an event, and get a real feel for what life here looks like. The numbers matter, but feeling like your home does too.
Frequently Asked Question
What is a life plan community?
A life plan community is a type of senior living community — sometimes called a CCRC — that provides a continuum of care on one campus, from independent living through skilled nursing. Residents typically pay an upfront entrance fee, which may be partially refundable, in exchange for access to future care at predictable, contracted costs. Life plan communities are designed for older adults who want to plan ahead and establish long-term roots in a permanent community.
What is the difference between a life plan community and a CCRC?
The terms are often used interchangeably. “Life plan community” is the modern, preferred name for what has traditionally been called a Continuing Care Retirement Community (CCRC). Both describe a senior living model that offers multiple levels of care on one campus, with a contract governing access to those services. Some CCRCs operate as life plan communities with entrance fees; others operate on a rental model without one.
Is a life plan community worth the entrance fee?
For many people, yes — particularly those who plan to stay in the community long-term. The entrance fee functions as prepaid access to future care at discounted rates, which can represent significant savings if higher levels of care are eventually needed. Whether it’s worth it depends on your financial situation, health outlook, and how long you anticipate living in the community. A financial advisor who specializes in retirement planning can help run the numbers.
What is a CCRC rental plan?
A CCRC rental plan is a senior living option that provides the same community environment and access to care as a life plan community, but without a large entrance fee. Residents pay a monthly rate and access care services at market rates when needed. It offers more flexibility and lower upfront costs, making it a strong option for those who prefer to keep assets liquid or aren’t ready for a long-term financial commitment.
What senior living options does Clermont Park offer in Denver?
Clermont Park, located in Denver, Colorado, offers both life plan and rental options. Life plan contracts include 50% and 90% refundable options, as well as a Fully Declining (non-refundable) option at a lower entrance fee. The rental neighborhood offers affordable independent retirement living with all utilities included and à la carte personal services. Both options provide access to Clermont Park’s full continuum of care, including assisted living, memory care, and skilled nursing.
Ready to Learn More?
Choosing a senior living community is one of the most meaningful decisions you or your family will make. At Clermont Park, we believe that decision should be made with complete information, no pressure, and a genuine sense of what life here feels like day to day.
We invite you to schedule a personal tour, join us for lunch, or simply call with your questions. Our team is here to help you find the path that honors where you’ve been — and celebrates where you’re going.
