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life-care facility

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life-care facility

A residential development offering varying levels of housekeeping support,medical care,and community dining for senior citizens.Also called a continuing care retirement community,the concept allows residents to remain on campus but in differing residency styles,as they age and their needs change.Residents may begin in a garden home indistinguishable from other homes in the community at large,progress to something similar to a hotel suite with community dining,and then perhaps to bedridden full-time nursing care.Frequently a person will purchase a housing unit and then also pay monthly dues to cover communal services for the rest of their life.The American Association of Homes and Services for the Aging, www.aahsa.org, has additional information and directories.
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A new resident of a life-care facility is typically a retired person (or couple) in good health.
Appraising continuing care retirement centers: the income approach by Keating, David Michael; Brace, Gary L. / Appraisal Journal
When a life-care facility is considered, the deductibility of the expenses are magnified.
Health care and the tax law by Green, Gary L. Jr. / The National Public Accountant
Fitch believes that high demand for the facility will continue, as Deerfield is the only type A life-care facility in its primary service area.
Fitch Affirms Deerfield Episcopal Retirement Community (NC) Bonds 'A-' by Business Wire
 
 
 
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