Senior Living Housing Offers Retirees, Elderly Options
As our population ages, there are many types of senior living housing options available. The choice will depend on what stage a senior or retiree is in his or her lifer, the level of their independence, and if care is required. Here’s a breakdown of the different types of senior living facilities:
Independent Living facilities cater to seniors who don’t want to live alone in a big, empty house. At these types of facilities, seniors don’t have to worry about meals, laundry, or household chores. Any medical care, if required, is outside of the facility. The key to these facilities is that they are all about freedom, geared toward people who want to maintain a private lifestyle, but also participate in group activities. Independent Living facilities can be found in single-family homes and duplexes.
Continuing Care Retirement Communities are for active seniors planning ahead. Many want to stay near their families. Comparable to hotel life, these communities are designed for the highest earning 10% of the population. Most Continuing Care Retirement Communities are equipped with fitness centers, auditoriums and nearby restaurants. Continuing Care Retirement Communities can come in the form of apartments, cluster homes, or cottages.
Retirement Living is for Baby Boomers looking to participate in a spectrum of intellectual, social and physical activities. They have minimal health concerns and want to enjoy their retirement with others. Their lives are centered on maintaining a healthy diet, exercising, and staying mentally fit. There is a great deal of recreation and social activities, with the opportunity for personal growth and meeting new friends. Most retirement community centers are concentrated near neighborhoods or college campuses.
Assisted Living facilities are for seniors who can remain independent, but need some help with basic activities. These facilities are geared for people who can’t live on their own safely, but don’t need a large amount of care. This includes those with Alzheimer’s or mobility limitations. You will find the necessary amenities, such as laundry and transportation services at assisted living facilities. Additionally, meals are prepared, with most facilities providing medicinal assistance, emergency call service and licensed nursing. Moreover, most assisted living communities plan activities for seniors, such as exercising, concerts, and shopping trips.
Nursing Homes, regulated by the state and federal governments, are long-term care facilities designed for seniors who need trained specialists to help with daily activities, such as eating and bathing. These facilities provide 24-hour room and board and health care services, including basic and skilled nursing care, rehabilitation, and a full range of other therapies, treatments, and programs. An estimated 3.3 million Americans will live in the nation’s nearly 16,000 nursing homes this year. That number translates to one in 7 people ages 65 and up, and more than 1 in 5 of those 85 and older, says U.S News & World Report. The average cost of a private room in a nursing home, according to George Washington University, tops $83,000 a year, with 70% of residents relying on Medicaid to pay the bill. In addition, the rate of nursing home use increases with age from 1.4 percent of the young-old to 24.5 percent of the oldest-old. Almost 50% of those 95 and older live in nursing homes, according to the U.S. Bureau of Census.
At Caitlin-Morgan, we specialize in the insurance needs of nursing home & assisted living facilities. Our staff’s experience not only provide us with insight into the myriad of exposures at these facilities and the type of insurance protection required, but also reflects our dedication and attention to detail and follow-up provided to every one of our agency partners. Please give us a call at 877.226.1027 to find out more about our programs.