$190 Million Lost: Why CCRC Bankruptcies Expose Retirees' Uninsured Risk

At least $190 million in resident entrance fees have vanished across 16 continuing care retirement community (CCRC) bankruptcies, with individual residents losing roughly $80,000 apiece. Unlike homeownership, CCRC residents who leave forfeit refunds and lose both shelter and savings simultaneously. The entrance fee functions as prepaid insurance yet lacks the capital reserve mandates and solvency testing applied to licensed insurers, leaving this retiree cohort structurally exposed.