Guide to Senior Retirement Living Options

In this Article:

Option 1 – Active Adult Communities

These communities consist of new homes and condos. Homes are usually designed for low maintenance. The Active Adult Communities offer resort-style living and can include amenities, activities, and security .

COST: Purchase price of the home/condo. Can range from $100,00 and up. May have monthly fees.
WHO IT’S FOR: People who can live and function independently.
WHO PAYS: Private pay and/or mortgage loan.

Option 2 – Retirement Communities with Continuing Care

Continuing care retirement communities (CCRC’s) allow independent living with a range of care available. May include on-campus or affiliated nursing, or assisted living facilities. Allows senior residents to move effortlessly from one level of care to another.

COST: $200 – $3800/month. Entry fees required.
WHO IT’S FOR: Healthy and independent seniors.
WHO PAYS: Private pay. Some services may be covered by Medicare, Medicaid, or long-term care insurance.

Option 3 – Independent Living & Senior Apartment Communities

Ideal for seniors who want to live independetly yet want the companionship of a community. May be affiliated with health care facilities to provide support. Most are rental properties so the hassle of home maintenance can be avoided. Independent living communities generally offer a full range of planned social activities to their residents.

COST: $250 – $3500/month.
WHO IT’S FOR: People who can live and function independently.
WHO PAYS: Private pay, rent subsidy based on income.

Option 4 – Assisted Living Communities

Assisted living provides personal care and supportive services to seniors who need help with the activities of daily living. These communities are designed for individuals who cannot function in an independent living environment but do not need nursing care on a daily basis. Residents pay monthly rent, although in some cases this may need to be supplemented by fees-for-service.

COST: $250-$5000/month
WHO IT’S FOR: People who need help with personal care and household tasks.
WHO PAYS: Private pay, some services may be covered by long term care insurance.s

Option 5 – Nursing Home & Rehabilitation Centers

Nursing Care Centers are designed for seniors who need skilled nursing care on a regular basis but do not need to be in the hospitalized. A basic daily rate is charged for fundamental services that every resident receives and additional charges apply for supplemental services.

COST: $100+/day
WHO IT’S FOR: People who need 24hour nursing care and supervision.
WHO PAYS: Private pay, Medicare, Medicaid, or long term care insurance.

Option 6 – The Home

For seniors who choose to live at home, there are a variety of services available to help seniors stay at home for as long as possible.

COST: Variable, depending on level and frequency of services.
WHO IT’S FOR: People who want to remain in their own homes.
WHO PAYS: Private pay, Medicare, Medicaid and long term care insurance for qualifying services.