Top News Stories in Senior Living Management - November 2015

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CCRCs Get a New Identity

A two-year initiative to rebrand “continuing care” has concluded with a new name for CCRCs. “Life Plan Communities” is the new term that LeadingAge, Mather LifeWays, and a host of partner companies will attempt to bring into wider use. LeadingAge President and CEO Larry Minnix explains, “At the core of the decision to move to a community is having the right plan for what the next stage of life has to offer.” Interested community operators can access resources and download a launch kit to join in spreading the word.

Source: LeadingAge. Name Change Initiative Leads to New Identity for CCRC Category

Senior Housing Construction Hits Record High

There were 44,000 senior housing units under construction at the end of Q3, marking the highest number as well as the highest rate of construction since NIC began tracking the data in 2008. Construction is unevenly distributed, with 34 geographies representing almost 80% of all activity, 65 markets representing 20%, and Nashville boasting the highest rate at 24% of existing inventory.

Source: National Investment Center for Seniors Housing Care. Seniors Housing Construction Cycle Drivers and Market Impacts.

Survey: Health Change is Most Common Reason People Move into Senior Living

According to a new study from Varsity Prime and Asbury Communities, 44.5% of current residents said a health change for either themselves or their spouse/partner triggered their move to a senior living community. Similarly, 34.9% of non-residents indicated a health change as a reason they would be motivated to move into a senior living facility. Nearly 9 in 10 non-residents plan to move to senior living at some point in time, with care offerings and religious affiliations playing significant roles in the decision process.

Sources: Varsity Prime. Project Looking Glass III Landing Page. Senior Housing News. Top Reasons for Moving to a Senior Living Community.

Clinton Proposes Caregiving Tax Credit

Hillary Clinton has proposed a tax credit of up to $6,000 for caregivers of elderly and disabled family members. Caregivers will also be able to accrue Social Security benefits for their work. At an Iowa appearance, Clinton said the tax credit "will help family budgets stretch [and] it will help seniors maintain independence."

Source: Reuters. Clinton proposes tax credit for family caregiving costs.

Brookdale Pilots Technology Programs

Senior living provider Brookdale is piloting digital technology classes in its Chicago communities, pursuant to releasing the programming nationwide. Brookdale and the Stanford Center on Longevity found 70% of Americans age 80 and above who use technology to stay connected say it improves their communications with loved ones. They also feel happier and more satisfied, and their health is better. Brookdale has partnered with companies like Chicago-based Geekatoo to help residents with their devices. Josh Shulman, senior living programs director for Geekatoo, says, "Brookdale's research shows technology's power for enriching seniors' lives, and we look forward to helping their residents connect and engage with family, friends, and the world around them.”

Source: PRNewswire. Brookdale Expands Program to Transform Seniors’ Lives Through Technology.

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