623311 - Continuing Care Retirement Communities
Continuing Care Retirement Communities (NAICS code 623311) play a crucial role in supporting the aging population by offering a spectrum of living options and healthcare services. As the demand for senior care grows, understanding this NAICS code is essential for businesses, contractors, and stakeholders in the Health Care and Social Assistance sector. This detailed blog post dives into everything you need to know about NAICS code 623311, including its definition, sector context, business examples, size standards, and frequently asked questions.
What is NAICS Code 623311?
NAICS code 623311 refers to Continuing Care Retirement Communities (CCRCs). These communities provide a continuum of care for elderly residents, combining independent living, assisted living, and nursing care services in one residential setting. CCRCs are designed to support aging in place by offering a full range of support as residents’ needs evolve over time.
Sector and Typical Business Activities
Sector: Health Care and Social Assistance
NAICS 623311 falls under the broader Health Care and Social Assistance sector, which encompasses a wide variety of health services aimed at improving community wellness and individual health.
Key Business Activities under NAICS 623311 include:
- Independent living residences for seniors
- Assisted living facilities with on-site nursing care
- Skilled nursing care units within retirement communities
- Management and operation of continuing care retirement communities offering multiple types of senior care services in one location
Code Details for NAICS 623311
| Code | Description |
|---|---|
| 623311 | Continuing Care Retirement Communities |
| Assisted living facilities with on-site nursing facilities | |
| Continuing care retirement communities | |
| Retirement communities, continuing care |
Size Standard for NAICS 623311
For businesses looking to qualify as a small business under this NAICS code, the size standard is:
- $34 million in average annual receipts
This size standard is critical for eligibility in federal contracting and small business programs.
Examples of Typical Businesses and Activities
Businesses operating under NAICS code 623311 may include:
- Senior independent living residences providing social and recreational activities
- Assisted living facilities that offer personal care and supervision along with health services
- Skilled nursing care units providing 24-hour nursing care within retirement community settings
- Comprehensive CCRCs that allow residents to transition seamlessly from independent living to full nursing care as needed
Frequently Asked Questions (FAQs)
What services do Continuing Care Retirement Communities provide?
CCRCs offer a full spectrum of senior living options from independent living to assisted living and skilled nursing care, catering to changing health and lifestyle needs.
Who typically uses NAICS code 623311?
Businesses operating assisted living facilities with on-site nursing, retirement communities with continuing care options, and skilled nursing care providers within retirement settings.
What is the significance of the $34 million size standard?
The size standard determines small business eligibility for federal contracts and related programs, allowing businesses below this revenue threshold to access special opportunities.
How is NAICS 623311 different from other senior care codes?
NAICS 623311 specifically covers communities offering a continuum of care options in one residence, as opposed to standalone assisted living or nursing homes.
Conclusion
NAICS code 623311 - Continuing Care Retirement Communities represents a vital segment within the Health Care and Social Assistance sector, addressing the complex needs of an aging population. Understanding the services covered, size standards, and typical business activities helps providers, contractors, and investors navigate opportunities and compliance requirements effectively.
If your business operates within independent living, assisted living with nursing care, or skilled nursing in a retirement community format, NAICS code 623311 is the classification to know.
Keywords: NAICS code 623311, Continuing Care Retirement Communities, senior living, assisted living facilities, independent living residences, skilled nursing care, health care and social assistance, retirement communities, senior care services, small business size standard 34 million
