by Assisted living facility, also known as continuing care retirement communities (CCRCs), are senior living facilities that offer multiple levels of care on one campus. These communities cater specifically to older adults and allow residents to “age in place” as their needs change over time. All assisted living facility provide independent living options like apartments or cottages. They also guarantee access to assisted living and nursing home services on the same campus when residents require higher levels of care.
Benefits of On-Campus Healthcare
One of the major benefits of assisted living facility is that they eliminate the stress and disruption of multiple moves for seniors as their care needs increase. Residents can comfortably transition between independent living, assisted living, and skilled nursing facilities all located in the same community. This continuity of life plan care and familiar environment can help reduce anxiety and provide peace of mind during the aging process. It also allows residents to remain close to their peers and established social circles even when level of care changes. On-site healthcare services remove the need to search for and move to new facilities during times of vulnerability.
Financial Models of Life Plan Communities
Assisted living facility operate using different financial models depending on the services offered and costs incurred. Some of the common models are:
– Rent model: Residents pay a monthly rent for their independent living unit. Additional services are paid separately as needed
– Fee-for-service model: Initial entrance fee covers the independent living costs. Future healthcare is paid through monthly service fees or private pay rates.
– Life care model: One upfront fee covers independent living as well as all future assisted living and skilled nursing costs eliminating unpredictability of healthcare expenses.
Increase in Number of Communities
The number of assisted living facility has seen considerable growth in the past decade due to increased longevity and demand for senior living options that support aging in place. According to reports, there were over 2,000 CCRCs across the US housing over half a million residents in 2019. States with the highest concentrations of these communities include Pennsylvania, Ohio, Florida, California and Illinois. The rise of the baby boomer generation and their preference for similar housing models catering to multiple care needs will likely further accelerate the expansion of these communities.
Types of Housing at Assisted living facility
Within a life plan community, residents can choose from different housing configurations based on their lifestyle needs:
– Independent Living Apartments: Studio, one-bedroom or two-bedroom apartments with full kitchens. May include some services like meals, housekeeping, transportation etc.
– Independent Living Cottages: Small single-family homes clustered together for privacy. Many include features like garages, patios.
– Assisted Living: For residents needing help with daily activities. Offer private apartments with staff available around the clock for medication reminders, meals, personal care etc.
– Memory Care: Secured units for residents with Alzheimer’s/dementia. Provide safe, structured environment with constant supervision and programming.
– Skilled Nursing Facility: For residents requiring 24-hour nursing care. Hospital-like setting managing acute medical conditions. Short term recovery wings also available.
Additional Community Amenities
Beyond housing and care services, assisted living facility aim to provide a resort-like lifestyle for active aging. Many have amenities like swimming pools, fitness centers, clubs, libraries, theaters, golf courses and walking trails catering to diverse interests. Regular social activities, educational programs, entertainment and transportation services enhance resident engagement and quality of life. On-site home health agencies, medical clinics and visiting physicians allow easy access to coordinate medical care in one place.
As the concept of assisted living facility gains wider recognition, more areas are experiencing an influx of newer high-quality communities to meet growing demand. Their appeal lies in addressing both the independence needs of healthy seniors as well as providing an array of care services to support aging with dignity. While the upfront costs may seem high, many feel the long term stability, caregiver support and worry-free environment outweigh potential future healthcare expenditures. As aging in the community becomes the preferred choice for many, assisted living facility are set to play an important role as an innovative housing model for America’s senior population.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
