Housing Options For Seniors
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Today, seniors have every imaginable housing option. But the senior housing industry makes understanding these options very complicated. For example, owners of senior housing can and often do use the same terms to describe radically different facilities. Thus, for seniors looking for homes, how they interpret and evaluate home options can be very confusing and time-consuming.
Easy Way To Think About Senior Housing
Despite confusing marketing language, CarePlanIt makes housing options easy. Carmen and I discovered that there are only three senior living options: independent, assisted, and dependent. This is how we want you to think about your housing needs. It’s also the same way we help you assess your health.
When you think independent, assisted, and dependent you’re aligned with the senior health and housing industry. Also, you’re properly thinking about your housing needs relative to your health. It also allows you to categorize housing options based on your needs, not marketing gimmicks.
For example, if you believe you’ll be healthy and fully functional through the end of your life (you won’t be), focus on independent living options. If you think your health will decline over time, familiarize yourself with assisted and dependent options. There are also hybrid models: housing environments that bridge senior needs from independent to dependent.
Housing Options & Health Services Are Converging
Before discussing specific types of senior housing, Carmen and I want to say something about the Senior Housing Industry (SHI). Every industry changes over time. Not considering these changes can result in leaving good choices off the table.
For example, if you understood that brokerage companies were going to be able to offer all or most of the services that bank’s offered, you might have placed more money with them. This would have likely helped you save more money, especially if you had a habit of leaving funds in low-interest-bearing bank checking and savings accounts.
The Converging Of Health & Housing Options Offers You Better Choices
As the SHI evolves, your choices get better. For example, nursing homes were once terrible places. Today they’re owned by larger organizations competing for services. They not only provide long-term care to the dependent but also short-term rehabilitative services for recovering seniors.
Housing Providers Are Trying To Meet Health Needs Of Seniors
Players in the SHI realize they can offer additional services. For example, gas stations discovered that could also sell groceries, beverages, and snacks. Similarly, SHI Corporations discovered adding products like short-term rehabilitation services to their housing options creates additional revenue streams. Many also offer at-home services for non-residents.
This increases their revenues. Also, if it can be delivered profitably, it adds to profits. Think of it this way: if a corporation owns and operates a 1,000-unit senior housing complex, that’s 1,000 (or more with spouses and roommates) people that need other services. As a result, they have a built-in market for other services. For example, things like in-home physical therapy and nursing care.
Reliable Payors Will Help This Growth
Senior care is supported by private insurance, government insurance, and government programs. It represents trillions of dollars of the US economy. Best of all, the payors (US Government, insurance companies, etc.) are very reliable.
This has enticed the senior housing industry to add health services to its service offerings. Many senior housing providers now also offer assistive, caregiver, and nursing services. Keep this in mind when selecting housing options. Sometimes facilities that offer a variety of senior services make it easier for you to get and manage these services. For example, a multi-service provider often has one point of contact for all these services.
Housing Providers Offering Options That Meet A Senior’s Needs Today & Tomorrow
Today, most large corporations in the industry offer a variety of housing and health-related services. These additional services can become important to your needs over time. If you get hurt and need rehabilitation services or physical therapy, finding these where you live is beneficial.
This industry transformation also means some senior housing providers are offering hybrid housing options. These options offer onsite or affiliated independent, assisted, and dependent living services and facilities. Continuing care facilities, for example, may offer independent housing, assisted living facilities, and skilled nursing care on the same property. Participating residents have the opportunity to move from one option to the other based on their health needs.
Use CarePlanIt’s IAD Model To Organize Senior Housing Options
Let’s get back to the IAD model. Remember there are only three ways to live: independent, assisted, or dependent. To make it easier for you to organize senior housing options, CarePlanIt categorizes the common names for types of senior housing under the IAD model.
Independent Living Options
Assisted Living Options
Dependent Living Options
Other Resources On Housing Options For Seniors
Good article on senior housing options here.
Nice article on types of senior housing options here.