Impacts of COVID-19 on continuing care retirement communities

This article discusses the impact that COVID-19 could have on actuarial assumptions relevant to continuing care retirement communities —specifically, mortality and morbidity—as well as other experience, including especially the number of noncontractual residents in assisted living unit and skilled nursing facility levels of care. It develops and presents representative population flow projections for a hypothetical community with three levels of care, focusing on how the pandemic may change experience over the next several years relative to pre-pandemic expectations.