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Clare Oaks Blog


8 Questions to Consider Before You Decide to Age in Place

Posted: Tuesday, September 19, 2017

By: Clare Connection

Today’s senior living communities offer more services and amenities than ever, with perks that range from the convenient (like on-site healthcare facilities, transportation, and home maintenance) to the luxurious (like on-site 5-star dining options and indoor pools). Yet despite the seeming allure of many senior living facilities, survey after survey reveals that today’s senior still has a strong desire to stay in their own home for as long as possible, referred to as “aging in place.”

If you are one who feels that you want to stay in your own home, it’s important that you do the appropriate planning. Here are a few important questions that you need to consider to ensure health, happiness, and safety in your home.

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What are the Odds of Needing Long Term Care?

Posted: Wednesday, September 13, 2017

By: Clare Connection

As described on the website of the American Association for Long-Term Care Insurance (AALTCI), your risk of needing long-term care is either 0 percent (you will never need it) or 100 percent (you will need it). This is an oversimplification, but the point is, you should not base your personal retirement plan on averages because your experience may not align with the average. Also, when considering data regarding long-term care, keep in mind that current data is based on previous generations who, on average, did not live as long—nor need as much care—as current and future generations likely will.

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Entry Fee Tax Deductions Explained

Posted: Tuesday, September 5, 2017

By: Clare Connection

Residents of entry-fee retirement communities may be eligible to deduct a portion of the entry fee, and possibly monthly fees, depending on the type of contract offered by the community. 

Here are a few key details to understand:

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A Description of CCRC Contract Types

Posted: Wednesday, August 30, 2017

By: Clare Connection

A Continuing Care Retirement Community, also referred to as a CCRC or Life Plan Community, contractually provides access to a continuum of care to its residents, typically including independent living, assisted living, memory care and/or skilled nursing care. 

New CCRC residents are typically required to be able to live independently upon moving in, but they have peace of mind knowing that the community also provides care services that may be necessary in the future. Yet, all CCRCs are not created equal. Contract types vary from one provider to another. Therefore, it is important to understand what each contract type offers so you can determine which one is best for your situation.

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The Relationship between LTC Insurance and Lifecare

Posted: Thursday, August 24, 2017

By: Clare Connection

A lifecare contract is one of several types of residency contracts offered by continuing care retirementCommunities, also referred to as CCRCs or life plan communities. Such a contract is similar to long-term care insurance (LTCI) in the sense that a resident is buying a contract that limits the out-of-pocket cost for long-term care services that may be required in the future. 

So, if you are considering a lifecare contract should you maintain your LTCI? Since there may be an overlap in coverage between your LTCI policy and the lifecare contract, here are some things to consider:

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Seniors and Technology- Embracing the Digital Age

Posted: Wednesday, August 16, 2017

By: Clare Connection

While seniors are generally considered "late adopters" for most technology, more and more older people are beginning to embrace the digital age. According to Pew Research, almost 60% of American seniors over age 65 are now online, a number that is increasing rapidly each year.

Another recent study by Pew Research on older Americans' use of technology reveals several interesting trends about how many seniors are using the latest gadgets and tools. 

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How Much Long-Term Care Will You Need?

Posted: Wednesday, August 9, 2017

By: Clare Connection

According to the Congressional Budget Office about 80 percent of older adults receiving such long-term care services receive it in their own homes, and the average amount of care received (paid and unpaid) ranges from around three hours on the low end to nine hours for those requiring assistance with three or more functional limitations.1 The Department of Health and Human Services cites that those receiving paid or unpaid care in their homes receive such care for an average of two years.2

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4 Ways to Start a Senior Living Discussion with Aging Parents

Posted: Thursday, August 3, 2017

By: Clare Connection

It may be a conversation you have been thinking about but keep putting off. Maybe you have tried but just couldn’t find a good segue or ice-breaker to get a dialogue started. Besides, it’s a topic that a lot of people just aren’t comfortable discussing.

No, I’m not talking about that conversation. I’m referring to starting a discussion with your parents about plans for their living arrangements as they age.

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How CCRCs can help couples stay together as they age

Posted: Wednesday, July 26, 2017

By: Clare Connection

About 70 percent of people over the age of 65 will need some type of long-term care during their lifetime, according to the U.S. Department of Health and Human Services (DHHS).1 On average, women will need care for a longer period of time (3.7 years), compared to men (2.2 years), and 20 percent of those age 65 and older will need care for more than five years.

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Considering a Continuing Care Retirement Community? Here are Four Key Aspects of the Decision Process.

Posted: Wednesday, July 19, 2017

By: Clare Connection

Continuing care retirement communities are a popular retirement living choice among older adults who live fully, or mostly, independently today but desire to live in a setting whereby long-term care services are available if needed in the future. Choosing the right community is an important often complex decision process. Here are four key aspects of the decision process: 

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