Missouri, nicknamed the Show Me State, contains many attractions for members of Missouri retirement communities. This midwestern state is landlocked and bordered by eight states. The Mississippi and Missouri Rivers travel through the state and helped Missouri play an integral part in transportation and commerce in early America. The Gateway Arch in St Louis was created to showcase Missouri’s involvement in the Westward Expansion. Another nickname for the state is The Cave State because it is home to over 6,000 caves. There is even a unique cave restaurant in Noel, Missouri.
Outdoor enthusiasts among members of Missouri retirement communities must visit the Katy Trail, 240 mile limestone path that was once the Missouri Kansas Missouri Railroad (nicknamed K-T or Katy) and has since been converted into a spectacular biking, hiking and running destination. Sites of interest on the path include wineries, restaurants, old train depots and part of the Lewis and Clark Trail.
If sporting events are of interest to members of Missouri retirement communities, the state is home to several professional sports teams. They include the St. Louis Blues (NHL), the St. Louis Cardinals (MLB), Sporting Kansas City (MLS), the Kansas City Royals (MLB) and the Kansas City Chiefs (NFL).
For foodies in Missouri retirement communities the state is known for such delicacies as BBQ, burnt ends, toasted ravioli and provel cheese. Vess soda was created in the state in 1916 and is still distributed there. St. Louis is home to the Anheuser-Busch brewing company headquarters and has been offering tours to the public since the 1890s.
The weather in Missouri allows the state to have four distinct seasons. The summers are warm and humid with average highs in July between 85-90. In the winter most of the snow falls in the months of December, January and February with the state averaging about 13 inches of snow each year. Average daily high for those months is below 50.
Taxes in Missouri
Missouri is a moderately friendly state for members of Missouri retirement communities. The statewide sales tax rate is 4.225% with average local rates being 3.96% for a combined total as high as 8.18%. The state’s individual income tax rates are progressive and range from 2.0% to 5.4%. The breakdowns are as follows: 1.5% for income $109 to $1,088. For income between $1,088 and $2,176 the rate is 2.0%. For income between $2,176 and $3,264 the rate is 2.5%. Over $3,264 but less than $4,352 the rate is 3.0%. For income between $4,352 and $5,440 the rate is 3.5%. From $5,440 and $6,528 the rate is 4.0%. From $6,528 to $7,616 the rate is 4.5%. From $7,616 to $8,704 the rate is 5.0%. Finally the rate for income over $8,704 is 5.4%. Social Security income is partially taxed. Withdrawals from retirement accounts are fully taxed.
Retirement Communities In Missouri
Continuing Care Retirement Communities (CCRC) and Lifecare Communities in Missouri offer seniors age 55+ a residence that allows them to be independent and active today but are equipped to provide for their future healthcare needs.
Today’s seniors have numerous retirement housing options. Deciding where to live is one of the most important and complex decisions one will make. Making these decisions while still healthy can help you avoid difficult and costly situations in the future.
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Options for Retiring in Missouri
Continuing Care Retirement Communities (CCRCs) are sometimes referred to as Full Service Retirement Communities or Life Plan communities, they are the only type of retirement community that offer residents independent living when they enter the community with the security of having assisted living and/or skilled nursing care options on site.
Missouri CCRCs or Life Plan communities generally offer various accommodations including apartments, townhomes, and cottages. These communities usually include common activity areas such as a restaurant-like dining room, a library, activity and craft rooms, an assisted living facility, and a nursing home. Other amenities often include swimming pools, a fitness center, golf courses, convenience stores, walking trails, gardens, beauty/barber shops, banking services and guest accommodations.
Regulating CCRCs In Missouri
Approximately thirty-eight states regulate CCRCs through various state divisions such as financial services, insurance, aging or elder services, or social services. The mandatory requirements and degree of oversight vary drastically from one state to another. Because of the varying requirements vetting each community individually is the safest way to insure a community is in good standing.
CCRCs are currently not regulated in the state of Missouri. Of course, the care facilities located within the CCRCs will be regulated by the appropriate licensing bodies, such as Medicare, but the entire organization and is not regulated separately by the state.
Selecting A CCRC In Missouri
Most CCRCs in Missouri have entrance requirements, they vary by location but may include some or all of the following:
- Entry fee to cover the housing unit’s cost and other services and amenities, including contractually provided access to health care. The entry fee may also help keep monthly services fees lower than they might be at a comparable rental community.
- Medicare and possibly a Medicare supplement policy, or a similar private-pay plan.
- Minimum age requirements as allowed by the Housing for Older Persons Act.
- Financial and medical qualifications
- Will, healthcare power of attorney, and durable power of attorney.
Entrance Fee For Missouri CCRCs
Most CCRCs or Life Plan Communities in Missouri require an entrance fee. The entry fee is usually required for several reasons. First, it secures a resident’s contractual and priority access to the care they may need while living in the community. The money received from entry fees is also used to help pay down debt required for development, expansion, or long-term capital projects, which keep the community attractive and competitive in the marketplace and also benefits current residents.
Is A Missouri Life Plan Retirement Community Right For You?
A CCRC or Life Plan Community in Missouri might be a good fit for you or a loved one. You can get detailed information on top-rated Life Plan communities in Missouri by searching myLifeSite’s continuing care retirement community directory and proprietary database for helpful profile reports. For all the information you need and questions to ask as you begin contacting retirement communities directly myLifeSite is a one stop resource. Our independent reports provide everything you need to make an informed decision including retirement community pricing, important contract details, healthcare aspects, and more.
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Updated November 2021