Planning for Senior Living

Retirees are presented with a wide variety of choices regarding where and how to spend the golden years.  Whether you are looking to downsize in your own neighborhood or move into a senior community, “right-sizing” to a smaller space may be the perfect solution.  Today, senior care is all about luxury with beautiful accommodations and a wide range of amenities. The “cruise-like” atmosphere promotes health and well-being while featuring a myriad of activities and services.  The sooner you start the process, the easier it should be. 

As we age, having a conversation about your living situation can be daunting. An experienced professional who has personal knowledge of local senior communities can ease your mind and help you find your perfect new home. Together, we will review your specific needs and identify the available options.  In addition, we will arrange virtual tours and/or visits to the communities so you can familiarize yourself with the living arrangements offered. We will ask the important questions and guide you through the process so you can discover the best option that aligns with your current lifestyle and future needs.

When deciding which model is right for you, consider the social aspects, your nutritional and dietary needs/meal plans, valet services/transportation, safety and security, clinical and nursing services, community fees and the monthly cost of each choice. 

TYPES OF SENIOR HOUSING

• 55+ Retirement or age-restricted communities are usually single-family homes, townhouses and condominiums designed for adults who are physically able to care for themselves. Many new developments offer “country club” amenities and compete for residents. Services may include transportation and activities but seldom offer medical care or supportive services. 

• Independent Living Communities have more services/amenities that support current needs while promoting independence and active lifestyles. In addition to luxurious apartments, services may include housekeeping, laundry, meal prep, transportation and live entertainment.  Hands-on assistance with medications may be available through third party contracts.  There are usually a number of floor plans to choose from and residents bring their own furniture.  Most communities allow residents to have pets.  Housing may be offered on a rental basis with a community entrance fee and paid with private funds.

• Assisted living Communities also promote independence but offer help with medications and other daily activities. Residents are encouraged to maintain their independence, while having access to professional medical care and support services when needed.  Similar to independent living, residents in assisted living have their own beautiful apartment and bring their own furnishings.  Physician recommendation is required. Assisted living may be offered on a rental basis with a community entrance fee.  Long-term care insurance, Medicaid and/or private pay are the payment options. These facilities are required to meet strict government standards.

• Memory Care units can be in assisted living or skilled nursing and have specialized programming for Dementia and Alzheimer’s residents. Many provide furnished move-in ready accommodations.  Physician recommendation is required.  Long-term care insurance, Medicaid and/or private pay are the payment options.  These assisted living facilities are required to meet strict government standards.

• CCRC – Continuing Care Retirement Community is a “continuum of care” approach, where all residents’ care needs can be met in one community: independent living, assisted living and continuous nursing care. The accommodations may include villas and/or apartments.  Residents are  independent when they enter with assurance that, if their health declines, they will be moved to the next level of care. CCRCs may require significant entry fees, part of which may or may not be refunded if the resident passes away.  Initial costs are privately funded, long-term care insurance may cover additional care options.

• Nursing Homes provide continuous 24-hour care for chronically ill people. The staff may include doctors, nurses, physical and occupational therapists to deliver medical care to patients.  The accommodations resemble hospitals and are required to meet strict government standards.  Nursing care is very expensive with limited coverage by Medicare.  The payment options include private long-term care insurance or Medicaid long-term care benefits for those who qualify.

Please be aware that housing and long-term care costs can have a huge impact on personal savings.  Budgeting accurately for senior living is difficult as needs often change.  Whether you are using funds from savings, a pension, long-term care insurance or the proceeds from the sale of your home, a Senior Transition Specialist can help navigate the most appropriate solution.  In addition, it is suggested that you coordinate with an Elder Law Attorney and/or a financial planner to structure your resources to cover these costs. 

If you have any questions regarding senior living options, organizing/downsizing your home, or selling your home, please call for a free consultation.  Our experienced concierge team is compassionate and committed to guiding you through the process and ensuring a smooth and successful transition.