life-care facility

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.

References in periodicals archive ?
A new resident of a life-care facility is typically a retired person (or couple) in good health.
32) For example, the portion of the entrance fee to a life-care facility allocable to the resident's medical care when the obligation to pay the facility is incurred at the time of payment is deductible currently despite the fact the medical services will not be performed until a future time, if at all.
When a life-care facility is considered, the deductibility of the expenses are magnified.
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.
Only one continuing care retirement community offers a contract type comparable to a life-care facility with the others modified or fee for service types of contracts.