The Asset and Income Profiles of Residents in Seniors Housing and Care Communities

Abstract

The authors use existing, nationally representative surveys to assess the economic characteristics of individuals in three categories of seniors housing and care facilities: independent living communities (ILCs), assisted living residences (ALRs), and continuing care retirement communities (CCRCs). The findings highlight the strengths and weaknesses of using the Health and Retirement Study, National Long-Term Care Survey, and Medicare Current Beneficiary Survey to describe this segment of the population. The results suggest that residents in ILCs and ALRs have lower average incomes than the average costs of these care communities. Conversely, CCRC residents have higher incomes and more assets than those living in private homes, suggesting that CCRCs attract the wealthiest seniors. However, longitudinal analysis is prohibited by the small sample sizes.

Costs and Concerns Among Residents in Seniors Housing and Care Communities: Evidence from the Residents Financial Survey

“…Respondents in the other community types are much more likely to still be married (16 percent for the AL portion of IL/ALs, 13 percent for ILs, and 20 percent for the IL portion of IL/ALs). The marital pattern for ILs and the IL portion of IL/ALs is comparable to that reported by Coe and Boyle (2012). It is lower than that reported in the Independent Living Report (about 35 percent), but 3 In the tables presented in the paper, we include non-response and questionable answers in the percentages so the reader has the full information.…”

“…While this might seem low, the RFS has higher male representation for ALs than previous work. 5 The proportion of men in ILs is comparable to the samples studied in Coe and Boyle (2012).…”

“…Appendix Table 1 presents the descriptive statistics percentages re-calibrated as a percent of those who answered correctly, instead of the percent of people in the survey, so comparison across the types of communities is easier for the reader. 4 Coe and Boyle (2012), the Independent Living Report, ALFA (1998), and NIC (1998) all had average ages of 80-85. 5 See the NIC (1998), ALFA (1998), and Coe and Boyle (2012).…”

“…4 Coe and Boyle (2012), the Independent Living Report, ALFA (1998), and NIC (1998) all had average ages of 80-85. 5 See the NIC (1998), ALFA (1998), and Coe and Boyle (2012). 6 Authors' calculations using the Current Population Survey (CPS), 2010.…”

Feasibility and Utility of Experience Sampling to Assess Alcohol Consumption Among Older Adults

“…These demographic characteristics approximate those of CCRC residents nationally but differ in certain respects. The average age of CCRC residents nationally is 84 years, 21% of residents are married and 23% of residents are male (Coe & Boyle, 2013). The difference may be a result of distinct profiles for current drinkers versus the overall population of CCRCs.…”