There was a time when senior citizens had only three choices for living arrangements; living alone, living with family or living in a nursing home. Luckily, times have changed and there are a wide range of facilities that senior citizens can consider as their lifestyles and needs change.
Continuing Care Retirement Communities (CCRC’s): CCRC’s are residential campuses that provide several levels of living arrangements for seniors — from independent living to assisted living to skilled nursing care, all in one location.
Lifestyle Communities: 55+ lifestyle communities are age restricted communities that offer resort style amenities and social activities for adults 55 and older. These may be ownership, rental or land lease communities.
Independent Living Communities: Independent Living Communities are designed to allow active seniors to enjoy a lifestyle filled with recreational, educational and social activities with other seniors. The housing options are typically low maintenance such as one-level homes, townhomes or apartments.
Assisted Living: Assisted Living provides a combination of residential housing and personalized support services and care. They are typically designed to offer assistance to senior that need help with their daily activities such as meals, transportation and personal care.
Nursing Care or Skilled Nursing Facilities: The new term for a nursing home, skilled nursing facilities are designed for seniors and individuals who are in need of 24-hour nursing care.
Home Care: Home Care is a general term to describe services delivered at home to recovering, disabled, or terminally ill persons in need of medical, nursing, social, or therapeutic treatment. Home health care allows seniors to stay in their home for longer periods of time.
Adult Day Care: Adult day care offers daily structured programs in a community setting with activities and health-related services to seniors who are physically or emotionally disabled.
Alzheimer’s Care: Alzheimer’s or Memory Care provides specialized care and housing tailored to the special needs of individuals with this disease and provides constant care and oversight to meet their needs.
Respite Care: Respite or short term care provides relief from duties for caregivers, ranging from several hours to days. Respite care may be provided in-home or in a residential care setting such as an assisted living or skilled nursing facility.
Each of these living options should be considered when planning for retirement and building an estate plan, particularly when considering how they will paid for and where they fit in insurance coverage needs.
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