Majority of assisted living residents pay for their care out of their own incomes, survey finds

Share this article:

Assisted living residents generally are from mid- to high-income households, and the majority can pay for care on their own, a survey released Friday reveals.

A survey of 2,617 older adults living in freestanding assisted and independent living facilities provides new insights into the economic and physical well-being of individuals living in private pay seniors housing communities.

The survey, conducted by the Center for Retirement Research at Boston College, found that assisted living residents earn most of their income through annuitized forms, including Social Security, pensions, private annuities and investment income. The majority of residents, according to the survey, don't need help from family members to pay for their care. Many residents report actively spending down their assets for their care.

Support for the research was provided through a grant from the National Investment Center for the Seniors Housing & Care Industry, the Assisted Living Federation of America and the American Seniors Housing Association.

Click here to download a copy of the report.

Share this article:

More in News

Also in the news for Sept. 22, 2014

ER support program can reduce hospital admissions among seniors, study says ... Researchers find defect that may lead to Alzheimer's ... Technical glitch may cause milions in payment delays for physicians who adopted EHRs

Enterovirus hits KY nursing home

Nine residents at the Heritage Hall nursing home are confirmed to have a strain of enterovirus, according to local reports.

AHCA applauds Senate passage of IMPACT Act

The Senate approved the Improving Medicare Post-Acute Care Transformation Act, drawing praise from the American Health Care Association and the National Association for the Support of Long Term Care.