Retirement Community - Entrance fee based on age?

[CDCinPA]

I am considering retirement community. They are adding a fee because I am under 70. Thoughts?

 

[CDCinPA]

They report they are allowed based on the "insurance commission".

 

[againstthegrain]

Sounds like money grabbing on behalf of the existing community unless there is an additional risk associated w those < 70 yo.

Is the "insurance commission" a fee paid to purchase insurance or a government entity that oversees insurance in the jurisdiction?

 

[CDCinPA]

Something else... Two others of the same type communities do not have an additional fee.

 

[dilettante]

Something else... Two others of the same type communities do not have an additional fee.

It may just be the start of a trend. We're now past the middle of the "Baby Boom" retirement bulge. This raises demand for a limited supply, and price gouging is a common symptom of any scarcity.