Writing: Assisted Living

CHAPTER SEVEN: SENIOR HOUSING

CHAPTER HIGHLIGHTS

Why the growing need for senior housing?

· Growing number of elderly

· Growing need for alternative housing options

What is “Senior Housing”?

A variety of options:

· Age-restricted housing - home ownership or rental opportunities for adults 55 years of age and older, or sometimes 62 years and older.

· Reverse mortgage - a means of borrowing money from the amount the home is worth beyond any mortgage debt.

· Age-restricted retirement communities - senior communities like any other neighborhoods or communities except restricted to people usually 55 or over or 62 and over. It often involves purchase of property or condominiums.

· Senior Apartments - is multiunit rental housing for older adults who are able to care for themselves.

· Cohousing - a type of collaborative housing in which residents participate in the design and operation of their own neighborhoods.

· Independent Living - residential living setting that may or may not provide hospitality or supportive services. In this living arrangement, the senior requires minimal or no extra assistance, and leads an independent lifestyle filled with recreational, educational and social activities amongst other seniors

· Congregate Housing - a form of independent living that usually provides convenience or supportive services like meals, housekeeping, and transportation in addition to rental housing.

· Continuing Care Retirement Community (CCRC) - a community which provides a continuum of care, offering several levels of assistance, usually including independent living, assisted living and nursing home care commonly all on one campus or site.

· Life Care Community - a form of CCRC that offers an insurance type contract and provides all levels of care. It often includes payment for acute care and physician's visits.

Philosophy of Care

The various forms of senior housing are designed to give seniors the services and assistance they need, while seeking to optimize their independence.

Services Provided

· Age-Restricted Communities:

· Provide the least amount of services of the various options.

· Some may also provide different kinds of services to the people who live there including meals, transportation, social activities and other programs.

· Independent Living - offer a variety of living arrangements, including:

· studio apartments,

· one-, two-, or three-bedroom apartments,

· cottages,

· townhouses,

· duplexes,

· cluster homes,

· single-family homes

· Congregate Housing - usually provides the same basic services as most senior retirement apartment complexes:

· Shared meals

· Fulltime staff on duty 24 hours a day to assist residents

· Housekeeping

· Areas within the building for socializing with other residents

· Secure building

· Planned recreational and social activities

Beyond these basic services, congregate housing may have the following options, often for an extra fee:

· Laundry service

· Transportation for shopping and doctors' appointments

· Health monitoring

· Help with taking medications

· Continuing Care Retirement Communities - offer a broad range of service and housing packages that allow access to independent living, assisted living, and skilled nursing facilities.

Ownership

· Age-Restricted Communities – a mix of for-profit ownership and publicly-owned.

· Independent Living - market rate, for-profit independent living communities comprise the vast majority of the independent living sector.

· CCRCs - While many CCRCs are for-profit, nonprofit organizations sponsor many of them.

Consumers Served

· Age-Restricted Retirement Communities - are apt to be younger than in some of the other options, in part because 55+ communities define “senior” a bit younger than others.

· Senior Apartments - are likely to have moved to those units to preserve their assets by selling their homes that they may no longer need and cannot care for.

· Independent Living – largely widowed, white females in their mid-80s. Most have annual household incomes ranging from $25,000 to $75,000 and a total net worth ranging from $100,000 to $500,000.

· CCRCs - seniors who enter into a CCRC contract while they are healthy and active, knowing they will be able to stay in the same community and receive nursing care should this become necessary.

Accreditation

· Most senior housing is not accredited as are some other forms of long-term care. The exception is continuing care retirement communities (CCRCs). They are accredited by the Continuing Care Accreditation Commission (CCAC).

Financing

· Age-Restricted Housing - varies from expensive high-end communities to government-subsidized senior villages.

· Independent Living – mostly private pay with rents depending on services provided.

· Congregate Housing - most facilities have a rental contract or agreement but many do not require a long-term financial commitment.

· Continuing Care Retirement Communities - the most expensive long-term-care solution available to seniors. CCRC residents sign a binding, lifelong contract at the beginning of their residency.

Staffing

· Staffed somewhat similar to non-senior housing options, they are much like the hospitality industry (hotels, apartment complexes, etc.).

Management

· Managers of senior housing range from for-profit owner/operators to hired administrators. There is no requirement that they be licensed or otherwise credentialed (again with the exception of nursing facility and assisted living components of CCRCs).

Significant Trends and Their Impact

· Desire for More Options - today’s seniors seek (and demand) housing options that meet their needs and also are attractive, desirable places to live.

· Quality of Life - seniors also want the quality of their life to not only decline when they move into senior housing, but to improve.

· High Occupancy Rates - demand for senior housing is at a record high with occupancy levels running at over 90 percent throughout most of the country.