62331 - Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly
When exploring the landscape of healthcare and senior living services, NAICS code 62331 stands out as a vital classification. This code represents a niche yet rapidly growing sector dedicated to caring for elderly populations through a continuum of residential and nursing care options. Whether you’re a government contractor, business owner, or simply curious about elder care services, understanding NAICS 62331 is essential.
What is NAICS Code 62331?
NAICS 62331 is titled "Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly." This industry classification covers establishments primarily engaged in providing residential care paired with various levels of nursing, supervisory, or specialized care tailored for elderly residents. It encompasses a broad spectrum of services, from independent living arrangements to more intensive assisted living and skilled nursing care, all within a supportive living community.
Sector: Health Care and Social Assistance
NAICS 62331 falls under the broader Health Care and Social Assistance sector. This sector is critical to America’s social infrastructure, addressing the medical, emotional, and residential needs of diverse populations, especially the elderly. The services provided under this NAICS code align with the goal of promoting quality of life and wellbeing for seniors through comprehensive care models.
Typical Business Activities Under NAICS 62331
Businesses classified under this code generally include:
- Continuing Care Retirement Communities (CCRCs): Facilities offering a continuum of care from independent living to assisted living and nursing care within one campus.
- Assisted Living Facilities for the Elderly: Establishments providing housing, personal care services, and healthcare support to seniors who need assistance with daily activities.
- Residential Care Facilities with Nursing Services: Facilities providing 24-hour supervision and specialized nursing care tailored to the elderly population.
These business types provide an essential bridge between independent living and nursing home care, enabling seniors to age with dignity and support.
Size Standards for NAICS 62331 Eligibility
To qualify under government contracting size standards for NAICS 62331, businesses are generally measured by average annual receipts. The Small Business Administration (SBA) typically sets the size standard at:
- $18.5 million in average annual receipts over the past three years.
Meeting this standard allows businesses classified under NAICS 62331 to compete for federal contracts and participate in small business programs.
Examples of Businesses Under NAICS Code 62331
- Sunrise Senior Living: A provider of assisted living and memory care services across multiple states.
- Brookdale Senior Living: One of the largest continuing care retirement communities offering a range of senior care services.
- Holiday Retirement: An operator of independent and assisted living communities nationwide.
These companies exemplify the scope and scale of establishments under NAICS 62331, providing a variety of care services tailored to the elderly.
Frequently Asked Questions (FAQ)
What services are typically included in Continuing Care Retirement Communities (CCRCs)?
CCRCs offer multiple levels of care — from independent living to assisted living and skilled nursing — all within a single campus to accommodate residents’ changing health needs.
How does assisted living differ from skilled nursing under NAICS 62331?
Assisted living primarily provides support with daily activities such as bathing, dressing, and medication management, while skilled nursing offers 24-hour medical care from licensed nurses.
Is NAICS 62331 relevant only to businesses in the United States?
Yes. The NAICS system is used primarily by the United States government and standardizes industry classifications for economic, tax, and contracting purposes.
How can small businesses in this sector take advantage of NAICS 62331?
By meeting size standards and registering in procurement systems, small businesses can pursue government contracts targeted at continuing care and assisted living services.
Conclusion
NAICS code 62331 encapsulates a dynamic and essential portion of the health care and social assistance industry focused on elderly care. From continuing care retirement communities to assisted living facilities, businesses operating under this classification provide critical residential and nursing services that improve seniors’ quality of life. Understanding this NAICS code is crucial for industry stakeholders looking to participate in government contracting, market research, or strategic growth in elderly care services.
Keywords: NAICS 62331, Continuing Care Retirement Communities, Assisted Living Facilities for the Elderly, Elderly Care Services, Health Care and Social Assistance, Senior Living Communities, Government Contracting Elder Care
