RRA Educational Resources/Blog/Your Options for Facility-Based Care in Retirement

Your Options for Facility-Based Care in Retirement

Nursing homes are not your only option for care in retirement. Some facilities offer only housing and housekeeping, but many do provide a more personal care and even medical services. Oftentimes, with medical care there are specialized units for memory care or specific disabilities/illnesses.

Nursing Homes
With a wide range of health and personal care, nursing homes offer more than just assisted living. There is 24-hour supervision and care, meals, personal care, and assistance with everyday living. Part of why they are the most common facility for the elderly is also rehabilitation services (physical, speech, occupational) and extra curriculars that build and maintain community.

Another reason nursing homes are so popular is because they offer long-term and short-term stays especially those who only need short supervision and rehabilitation.

Board and Care Homes
Known as residential care facilities or group homes, board and care homes are smaller facilities with 20 or less residents. Rooms are either private or shared, but staff is available around the clock for personal care and meals. Medical care is off-site.

Assisted Living
Assisted living is for retirees who need daily care, but as much help as someone in a nursing home. These types of facilities typically offer their residents levels of care, where specific levels are more costly. In comparison to nursing homes, assisted living facilities do have fewer residents.

The residents typically stay in apartments or rooms and then shared space is the common areas. With access to daily meals and personal care assistance, certain levels of care offer different services such as medical or housekeeping care.

Continuing Care Retirement Communities (CCRCs)
Referred to as life care communities, CCRCs offer independent living arrangements, but also have assisted living, or skilled nursing care on the same campus. Recreational and healthcare services are also provided onsite.

​The biggest plus to a CCRC is you are permitted to live and transfer depending on your needs. Someone who is looking to live somewhere that might offer long-term care services if they need it may want to live here even if they are fully able to live independently now.

See other posts like this one:

Thursday, March 28, 2024

In 2024: What Medicare Could Cost You

Friday, March 01, 2024

Building Cash Flow in Retirement: Income Diversity Strategies

Wednesday, February 21, 2024

Why Legacy Planning is Part of Smart Retirement Planning

Thursday, February 15, 2024

How a Living Will Can Help Your Retirement

Friday, February 09, 2024

Retire Right: Ditch the Traditional Plan, Embrace Your Risk-Based Freedom

Thursday, February 01, 2024

From Pensions to 401(k)s: Shifting Risks in Retirement

Wednesday, January 24, 2024

Why Today’s Retirement Isn’t Like Your Parents’

Friday, January 19, 2024

Roth vs. Traditional Accounts for Pre-Retirees

Thursday, January 11, 2024

Pioneers of Risk-Based Retirement Planning

Thursday, November 30, 2023

Understanding Linked-Benefit Long-Term Care

Wednesday, November 22, 2023

Which is Best: Annuity or LIRP? Or Both?

Thursday, November 09, 2023

You Can Unlock Your Home Equity for Retirement

Wednesday, November 01, 2023

What Is a Second-To-Death Life Insurance Policy?

Friday, October 27, 2023

Beneficiary IRAs: Preserving Your Legacy for Future Generations

Thursday, October 19, 2023

Steady Stream of Retirement Income

logo.png

Investment advisory services offered through Brookstone Wealth Advisors, LLC (BWA), a registered investment advisor and an affiliate of Brookstone Capital Management, LLC. BWA and Retirement Risk Advisors are independent of each other. Insurance products and services are not offered through BWA but are offered and sold through individually licensed and appointed agents.

© COPYRIGHT RETIREMENT RISK ADVISORS. ALL RIGHTS RESERVED.

RETIREMENT PLANNING

Step 1 – Team Approach
Step 2 – Get to Know You
Step 3 – Design Your Plan
Step 4 – Provide Education
​Step 5 – Help You Take Action

CONTACT US

1309 Coffeen Avenue, Suite 3851, Sheridan, WY 82801

Support Staff support@retirementriskadvisor.com

Toll free: 1 (855) 491-0400
​Text us at: 1 (307) 264-2902