Remaining in the Home: A Look at Home Health Care Services
The demand for home health care services is rapidly growing in the U.S. This has been driven by an array of factors in recent years. First, the baby boomers are reaching the age where they are more likely to need assistance. Second, the pandemic has made some people uneasy about the prospect of living in [...]
Planning Financially for a Move to a CCRC
Every so often I get asked about financial guidance on moving to a continuing care retirement community (CCRC or “life plan community”). Although I no longer provide one-on-one financial planning advice as in my previous career, I thought it might be helpful to write a post with some key considerations when planning financially for a [...]
CCRCs Should Consider Opening Their Doors to Their Neighbors
I recently read a heartwarming article about Three Crowns Park, a continuing care retirement community (CCRC, also called a life plan community) in Evanston, Illinois. It shares how Three Crowns has forged a years-long relationship with the children’s summer sports camp located across the street from the community. Each day, when camp ends, the children are escorted [...]
A Little-Known Detail about Medicaid Qualification and Paying for Long-Term Care
For fiscal year 2020, 76.5 million Americans were enrolled in Medicaid, including 6.4 million seniors. Medicaid is the single largest payer for long-term care in this country. In part, that’s because the cost of long-term care can be so exorbitant — averaging $51,600 a year for assisted living and $93,000 for a semi-private nursing home [...]
Four Steps to Choosing the Right Retirement Community
So, you’ve been thinking a retirement community could make sense for you. It can be an attractive senior living option for a number of reasons: the social interactions and relationships, activities and amenities, care services (when available), peace of mind … and the list goes on. But how do you choose the right community for [...]
Is the Pandemic’s “Severely Lonely” Senior Living Resident a Myth?
As I’m sure you’re aware, COVID-19 cases are surging as a result of the Delta variant. In many areas, hospitals are exceeding capacity as more and more people — especially the unvaccinated — fall seriously ill. It is easy to feel forlorn reading headlines about another round of potential restrictions, remembering the isolation and loneliness [...]