With COVID-19 numbers down in many areas of the country, school breaks, and this month's various religious holidays, a lot of people may be visiting older family members for the first time in quite a while. It is a wonderful chance to spend time together, and it also presents an opportunity to assess how older [...]
In the “I’m Not Ready Yet” blog series, we will be taking an in-depth look at some of the most common reasons why people put off a move to a continuing care retirement community (CCRC) or other senior living community. In last week’s post, we talked about one of the common reasons that people put [...]
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 [...]
Here at myLifeSite we are frequently asked about medical expense tax deductions at a continuing care retirement communities (CCRCs, or "life plan communities"). In this post we'll cover the details about this deduction, but please be sure to consult with your accountant or tax preparer before making any decisions. What is the medical expense tax [...]
We all know that location is critical when it comes to investing in real estate, but research shows that geography also is key to getting the best care for seniors. In the fall, we shared the latest rankings for the states with the best long-term care services in the U.S. Another recent report examines the [...]
One of the major draws of a continuing care retirement community (CCRC, aka, a life plan community) is the on-site availability of a continuum of care services, should a resident need it. It’s a key feature that defines this type of senior living community. You may have seen our recent video on how a CCRC [...]
Research has found that somewhere between 50 and 70 percent of people over the age of 65 will require care services at some point, meaning they’ll need assistance with at least a couple of activities of daily living and possibly even a higher level of care. Approximately 20 percent of people receiving such long-term care [...]
If you follow our social media accounts, you may have seen our post last week about a recent AARP article on the financial burdens that can accompany family caregiving. The article shared the story of a woman named Amy whose parents were both in their 80s and in failing health when they moved into the [...]
Last week, I wrote about the true cost of remaining in your current home as you grow older. As I reflected on the post, I began to wonder whether it inadvertently came across as a sales pitch for life plan communities, also known as continuing care retirement communities, or CCRCs. I was bothered by this [...]
Again and again, research finds that most senior adults say they want to remain in their home, at least as long as possible. While there are many reasons for this, cost is a consideration. Many people believe that it will cost less for them to remain in their existing home than to move to a [...]
