“This will be my third and final move with my husband,” Pat Mulvey, 73, a social worker, explained as she laid out the plans to move to a continuing care retirement community (CCRC) set to open in the fall of 2023. “I figure we are pretty damn lucky,” she said with excitement and gusto.
Pat and husband Michael Cornman, 87, an intellectual property attorney still working with a firm based in Stamford, are looking forward to their move to the nonprofit Broadview Senior Living at Purchase College.
They raised Michael”™s two children from a previous marriage (he was a widower) in the Irvington house he thought he”™d stay in for the rest of his life. Over time, both encountered health issues and saw the wisdom of downsizing to a smaller nearby house. Now it”™s time to transition to a community that offers increasing levels of care if needed.
While they are moving into an independent living apartment at Broadview, “the ability to move into assisted living if needs increase is good for us,” said Pat. As a CCRC, Broadview will also offer assisted living and memory care to residents as well as personal care services such as dining, laundry and other daily housekeeping chores.
Broadview is a university-based retirement community on a vibrant college campus that is attracting a diverse group of residents interested in lifelong learning. As charter members of this community, they can enroll in classes now, an option Pat is considering.
Moving at any stage of your life becomes more inviting and less stressful when it is thought of in terms of benefits, not losses and sacrifices. Social interaction, prepared meals and even taking classes can make a difference.
Social care options
Many elderly couples, those aging on their own and children or other relatives of seniors, often come to a juncture where they wonder if aging in place is best or if they should explore supportive living arrangements.
Fortunately, senior living options abound in this area. According to seniorliving.org, 610 assisted living and 440 independent living facilities call New York home. Connecticut counts 276 assisted living and 148 independent living communities, reports seniorhomes.com. For continuing care communities, Connecticut has 27, New York has 12.
To judge the best candidates for each housing type, consider what each provides:
Independent living is for adults who do not require personal assistance or medical care but want access if needed. Meals, laundry and dining are provided by the community as well as transportation to appointments and errands, activities and socialization.
Assisted living is for adults who need support with activities of daily living like medication management, bathing, dressing, some medical services, meals and transportation to appointments, errands, activities and socialization. Most move into assisted living between the ages of 75 and 84, according to whereyoulivematters.org.
Memory care is specialized assisted living for adults with cognitive impairment, dementia and high-care needs.
Continuing care residential communities are for adults who want the full spectrum of care available. The substantial cost allows access to all levels of care from independent living to memory care. Milliman, an actuarial firm, reports “over the past decade, the average age at move-in has increased, with many facilities reporting that their residents are 80 to 85 years old.” Residents must be capable of living independently upon move-in.
Medical care option
For elderly people who require a medical model of care 24 hours a day, including assistance with three or more activities of daily living such as ambulation, using the bathroom, bathing, dressing, eating and medical management, skilled nursing facilities traditionally called nursing homes may be the best choice.
Financing senior living
Affordability is always paramount in any plan. It”™s best to meet with a financial planner or a trust and estates attorney early in the process to understand the financing options available. Initiate a plan before a crisis strikes if at all possible. Relatives caring for loved ones, couples and solo agers should consider how best to use income, savings, real estate, insurance and resources from social security, Veterans Administration, retirement accounts, life insurance policies, stocks and bonds and long-term care insurance to fund the best housing possible.
Medicaid can fund assisted living and nursing home care. It provides health coverage to 7.4 million New Yorkers (New York State Department of Health) and close to one million Connecticut residents (Connecticut Department of Social Services), including eligible low-income adults, children, pregnant women, elderly adults and people with disabilities.
Range of Costs
The cost of care in the metro area, is as wide-ranging as the options. The average monthly costs in Westchester County are $4,729 for independent living; $5,500 to $16,000 for assisted living; and $14,000 for a nursing home. In Fairfield County, the average monthly costs are $4,763 for independent living; $7,838 for assisted living; and $14, 113 for a nursing home.
Moving forward
Pat Mulvey sagely advised: “Why wait until something happens? Why wait until you fall down the stairs? Why wait until a pipe bursts and you can”™t reach the plumber and you don”™t know what to do? My husband used to say he will wait until he is carried out feet first. But what is the point in that?”
Giving yourself time to consider the various options, costs and financing vehicles clearly makes the decision and the transition smoother. However, if you find yourself in a crisis situation, don”™t despair. It”™s not uncommon for health issues to occur without warning at any age and certainly more often with seniors. There are always options. Even more important than planning is never to be afraid to seek help in decision-making, whatever the stage of life or the circumstances.
For more, visit concierge-care.com.
