A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments. Borrowers are still responsible for property taxes or homeowner's insurance. Reverse mortgages allow elders to access the home equity they have built up in their homes now, and defer payment of the loan until they die, sell, or move out of the home. Because there are no required mortgage payments on a reverse mortgage, the interest is added to the loan balance each month. The rising loan balance can eventually grow to exceed the value of the home, particularly in times of declining home values or if the borrower continues to live in the home for many years. However, the borrower is generally not required to repay any additional loan balance in excess of the value of the home.
An assisted living residence or assisted living facility (ALF) is a housing facility for people with disabilities or for adults who cannot or who choose not to live independently. The term is popular in the United States, but the setting is similar to a retirement home, in the sense that facilities provide a group living environment and typically cater to an older adult population. There is also Caribbean assisted living, which offers a similar service in a resort-like environment.
A retirement home – sometimes called an old people's home or old age home, although old people's home can also refer to a nursing home – is a multi-residence housing facility intended for the elderly. Typically, each person or couple in the home has an apartment-style room or suite of rooms. Additional facilities are provided within the building. This can include facilities for meals, gatherings, recreation activities, and some form of health or hospital care. A place in a retirement home can be paid for on a rental basis, like an apartment, or can be bought in perpetuity on the same basis as a condominium.
Elderly care, or simply eldercare, serves the needs and requirements of senior citizens. It encompasses assisted living, adult daycare, long-term care, nursing homes, hospice care, and home care. Because of the wide variety of elderly care needs and cultural perspectives on the elderly, it includes a broad range of practices and institutions. For example, government-run elderly care is seldom used in many Asian countries, where younger generations often care for the elderly.
A retirement community is a residential community or housing complex designed for older adults who are generally able to care for themselves; however, assistance from home care agencies is allowed in some communities, and activities and socialization opportunities are often provided. Some of the characteristics typically are: the community must be age-restricted or age-qualified, residents must be partially or fully retired, and the community offers shared services or amenities.
Health care prices in the United States of America describes market and non-market factors that determine pricing, along with possible causes as to why prices are higher than other countries. Compared to other OECD countries, U.S. healthcare costs are one-third higher or more relative to the size of the economy (GDP). According to the CDC, during 2015 health expenditures per-person were nearly $10,000 on average, with total expenditures of $3.2 trillion or 17.8% GDP. Proximate reasons for the differences with other countries include: higher prices for the same services and greater use of healthcare. Higher administrative costs, higher per-capita income, and less government intervention to drive down prices are deeper causes. While the annual inflation rate in healthcare costs has declined in recent decades; it still remains above the rate of economic growth, resulting in a steady increase in healthcare expenditures relative to GDP from 6% in 1970 to nearly 18% in 2015.
Atria Senior Living, Inc. is one of the largest senior living providers in North America. It currently operates more than 430 senior living communities in 45 states and seven Canadian provinces. The company provides independent living, assisted living, and supportive living and memory care. Atria is based in Louisville, Kentucky.
Vi Senior Living is a high-end retirement community developer, owner, and management group based out of Chicago, Illinois, United States. Vi maintains 10 continuing care retirement communities (CCRCs) in six states, including Arizona, California, Colorado, Florida, Illinois, and South Carolina. Founded in 1987 by Penny Pritzker, the privately held company houses over 4,000 residents and employs 2,700 workers as of May 2016.
Brookdale Senior Living Solutions owns and operates retirement homes across the United States. The company, established in 1978 and is based in Brentwood, Tennessee, is the largest operator of senior housing in the United States, with over 60,000 residents.
Emeritus Corporation doing business as Emeritus Senior Living was a provider of independent living, assisted living, Alzheimer's care, and skilled nursing for seniors living in Emeritus communities throughout the United States. The company was founded in 1993, and was acquired by Brookdale Senior Living in July 2014 after a $23 million punitive damages award against it in a civil lawsuit in 2013.
A continuing care retirement community (CCRC), sometimes known as a life plan community, is a type of retirement community in the U.S. where a continuum of aging care needs—from independent living, assisted living, and skilled nursing care—can all be met within the community. These various levels of shelter and care may be housed on different floors or wings of a single high-rise building or in physically adjacent buildings, such as garden apartments, cottages, duplexes, mid- and low-rise buildings, or spread out in a campus setting. The emphasis of the CCRC model is to enable residents to avoid having to move, except to another level of care within the community, if their needs change.
Trustpilot.com is a Danish consumer review website founded in Denmark in 2007 which hosts reviews of businesses worldwide. Nearly 1 million new reviews are posted each month. The site offers freemium services to businesses. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Erickson Senior Living is an owner, manager and developer of retirement communities in the United States. It provides independent living, assisted living, memory and skilled nursing care, managing 20 campus-style retirement communities in 11 states. Headquartered in Catonsville, Maryland, it employs 14,000 people for 24,000 residents as of 2017.
Finanztest is a consumer magazine which focuses on providing objective information about financial services. Together with test it is one of the two main publications of Stiftung Warentest, the German foundation and consumer organisation.
Independent senior living communities are housing designed for seniors 55 and older.
Life Care Funding, is an American financial, senior care advisory and life settlement company based in Portland, Maine and now operates as LCX LIFE. The company works with seniors to help them access funding solutions to pay for senior living and long term care, and specializes in settling life insurance policies into Long Term Care funds for customers who cannot afford long-term care. The company was founded by Chris Orestis in 2007. Life Care Funding has contributed to legislation reform to help middle-class people to obtain funding for long-term care.
Sunrise Senior Living, LLC. is an American operator of retirement homes and other housing for senior citizens. As of 2017, it operates over 320 assisted living facilities throughout the United States, Canada and the United Kingdom, making it the fifth-largest senior living provider in the U.S.
In gerontology, an Elder Village or Senior Village is an organization, usually staffed by volunteers, that provides services to the elderly in order to allow them to remain in their homes as they age. Villages are a part of the "aging in place" movement, and are found in the United States, Canada, Australia, and the Netherlands, as well as South Korea and Finland.
MDsave is a healthcare ecommerce company co-located in Brentwood, Tennessee, and San Francisco, California.
Senior living is a concept that encompasses a range of housing and lifestyle options for ageing persons adapted to the challenges of health issues associated with ageing, such as limited mobility and susceptibility to illness.
