We have been in a Type A, CCRC for 4 tax years and have averaged 32-35% of monthly fees being deductible. Move in year there was also a substantial deduction of move-in "purchase price"
Have you been able to itemize every year?
Looking ahead do you think the monthly fees will generate enough to make itemizing larger than the standard deduction ?
We've never been able to deduct medical due to the limits, but we do deduct LTCi premiums.
I thought LTCi premiums were part of medical expenses........ Do I have that wrong? I don't pay LTCi premiums, so haven't dealt with it.
I thought LTCi premiums were part of medical expenses........ Do I have that wrong? I don't pay LTCi premiums, so haven't dealt with it.
Yes, LTCi would be considered part of medical expenses.
When I was touring a CCRC I was considering, I was taken through a hallway lined with photos of the centenarians who have lived there. My guide said "Take a look at these and see if you can figure out the bad news."
I scanned the wall and immediately noticed that they were 90% female. Made me stop and think for a moment. Oh, well.
I'm hoping the reason is that old men are more reluctant to have their photos taken than old women, but that's just a guess.
I'm hoping the reason is that old men are more reluctant to have their photos taken than old women, but that's just a guess.
OP here, we did a fun thing at the CCRC today. There was a "Centennial Party" to honor all resident that are age 100 or more. There are 7 of them --3 men and 4 women. 4 of the honorees were able to attend the party. We had champagne, appetizers, a cake, music and dancing and people got up and spoke about the honorees. The 4 who attended were in amazingly great shape. 3 of them still live in independent living. I understand they do this party every year.
Saw a headline about some Senators confronting people about assisted-living deaths.
CCRCs don't offer assisted living services?
Saw a headline about some Senators confronting people about assisted-living deaths.
In the running for most irrelevant and off-topic post of the day, but maybe you want to tell us what it's about and why you think this is pertinent?
Sounds like some assisted living fatalities have raised questions about how they're run.
So CCRCs could be implicated?
Or are CCRCs just hunky dory?
Still not sure what you are referring to - perhaps a solidly reported link would help?
The U.S. assisted-living industry faced scrutiny Thursday from a bipartisan group of lawmakers who pressed for answers about low staffing, high costs, and a lack of transparency surrounding poor care and the preventable deaths of elderly people with dementia walking away unnoticed from facilities — an all-too-common tragedy revealed by a Washington Post investigation last month.
The federal government does not oversee the industry.
The chairman of the Senate Special Committee on Aging, Sen. Bob Casey (D-Pa.), called Thursday’s hearing citing The Post’s reporting. He said deliberations about potential federal regulations will continue and asked the public to send stories of costs and care to help inform the committee. Casey said Thursday’s hearing — which included testimony from an advocate, an industry representative and a loved one who called the committee to report bad care — was the start of the biggest review of assisted living by the Senate in 20 years.
“Unfortunately, what I heard today makes clear that we have a long way to go when it comes to guaranteeing the level of care that older Americans in assisted-living facilities deserve,” Casey said in a statement after the hearing.
The Senate Special Committee on Aging held a hearing on Jan. 25, following a Post investigation detailing nearly 100 walkaway deaths across the country. (Video: Senate Special Committee on Aging)
Richard J. Mollot, executive director of the Long Term Care Community Coalition, testified that consumers can’t be assured they will get quality care without national standards. “It is time for [federal regulation] … so that when someone accesses dementia care, it means something, it’s not just a term of art,” he said.