FALL 2016 Retirement Guide
DINING OPTIONS often include a set number of meals a week prepared in on- campus restaurants, a cafeteria, or a residence. Check with the community and current residents to see what is available. Fine dining generally means meals will be served in courses with an appetizer or a salad, an entrée, and a dessert. Restaurant- style and à la carte dining allow diners to order from a menu.
ENTRANCE FEES typically are paid in addition to monthly payments and are con- sidered payment in advance for medical services a resident will receive.
EQUITY OWNERSHIP refers to the option in some communities to accumulate equity from the ownership of a residence or to purchase an equity-ownership share in the community that can be transferred to a resident’s estate or a qualified successor.
FEE-FOR-SERVICE CARE is an arrangement where health care providers charge a fee for each individual service they provide (doctor’s visits, tests, surgery, etcetera). After the service has been provided, a health care provider submits an insurance claim to be reimbursed.
A GATED COMMUNITY is a group of homes protected by a closed perimeter of walls or fences. In addition to being closed off from outsiders, these communi- ties usually feature additional security, such as guards, entry codes, and key cards. Gated communities generally offer residents amenities such as swimming pools, golf courses, restaurants, tennis courts, and exercise areas. Some gated communities are exclusively for senior residents.
A HEALTH CARE CENTER treats patients for minor medical issues or short-term illnesses. These centers typically provide services including cold, flu, and allergy treat- ments; ear, nose, and throat treatments; general checkups; gynecological services; lab work; and psychiatric care.
HOME HEALTH SERVICES allow patients to obtain the health care treatment they need while remaining in their homes — a good way to help patients retain their independence. Professionals who provide home health services include registered nurses, social workers, dietitians, speech pathologists, physical therapists, and home health aides. Home health services might be provided on a full-time or part- time basis.
INDEPENDENT LIVING refers to housing arrangements for those who are age 55 and older. Generally, independent-living facilities are for those who are still in good health and do not need much assistance with daily activities. Independent-living facili- ties include apartments, retirement communities, continuing-care communities, and subsidized senior housing facilities for low-income seniors. Depending on the facility, residents might have access to services such as transportation, daily meals, recre- ational programs, and nursing care.
LIFE CARE refers to a retirement community that combines housing and compre- hensive health care services for seniors. A life-care contract is an agreement that au- thorizes long term care insurance payments as part of a patient’s residency agreement.
LIVING ARRANGEMENTS vary. The best way to assess housing options is to tour a community. Terms like garden home, villa apartment, or cottage usually refer to the style of home (e.g., gabled versus terra cotta roof, etcetera). Condominiums typi- cally are independently owned apartment-style homes.
MAINTENANCE-FREE retirement communities allow residents to live in a home without worrying about the hassles usually associated with owning a residence (re- pairs, snow removal, landscaping, etcetera). Housing costs in a maintenance-free community also might cover transportation, cable, food, and other amenities.
88 MILITARY OFFICER SEPTEMBER 2016
from a five-bedroom house to a retire- ment facility in Escondido, Calif. Because living smaller is
F
trendy. Between 7 and 10 percent of people 75 and older live in senior housing, according to Beth Burnham Mace, chief economist for the Na- tional Investment Center for Senior Housing and Care. She predicts the declining “caregiver support ratio” of adult children to their senior parents will boost that percentage greatly as the boomer population ages.
For some, downsizing means giving up treasured possessions and familiar comforts.
For some, downsizing means giv-
ing up treasured possessions and familiar comforts. For others, living smaller and more simply is part of a wider trend encompassing tiny houses and the Marie Kondo meth- od. Burnham Mace says people are growing more comfortable with the idea of senior community settings. Because living smaller doesn’t
mean giving up living big. When Col. Bart Allen, USAF (Ret), moved himself and his wife from their home into a “cottage” in a retire- ment community in Grand Junc- tion, Colo., his next transition — after her death, to assisted living — was even simpler. But recently he “hosted a party of 45 friends to celebrate my 87th birthday in the
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