Sep 11, 2012 at 10:55
For many seniors, the decision process for whether or not to make the move into senior living can sometimes be difficult. There are many factors to consider, such as lifestyle, available amenities, and last but not least, cost. For those who are relatively healthy and active but looking for a simpler way of living, independent living can be a great option. Independent living is a good choice for seniors seeking a more convenient lifestyle so they are able to enjoy their retirement and focus on what matters most to them.
Although there are several different options when it comes to independent living, one of the most common are rental communities. Like most apartment communities, they usually have leases that renew annually and require monthly rent payments. Independent living is ideal for those wishing to be unburdened from the extensive upkeep of a house and property, and would like to benefit from a vibrant social life. By eliminating the expenses of repairs and maintenance, lawn care, property taxes, extensive housekeeping, and everything else that goes into maintaining a home, you may be surprised how much money you can save over home ownership. Amenities and services vary in each independent living community, but you may find transportation, maintenance, housekeeping, meal plans, paid utilities, events and activities, and more. Do your homework and shop around for prices on different independent communities, and compare the cost to what you are currently paying to live in and maintain your current home.
Unfortunately, you typically won’t find government assisted payment options such as Medicare and Medicaid paying for independent living in the same way as some assisted living facilities and skilled nursing facilities. There are also subsidized senior housing developments in some areas for low-income seniors, but these often have long waiting lists. Many seniors opting for independent living are paying out of their own pockets either from savings and/or from the proceeds of selling their house. If you have long-term care insurance, it is also possible that your policy will pay for the costs of independent senior living. Be sure to check the details of your policy to find out what it will and won’t cover.
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