The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: CCRC||Date: 10/2/2012 1:32 PM|
|Author: pauleckler||Number: 17866 of 20240|
People should also be aware of HUD housing. My mom's place was 2/3 HUD housing and 1/3 market pricing independent living.
HUD apartments were one room efficiencies with only a hot plate and refrigerator rather than a kitchen. But HUD rates are based on income. Whereas one bedroom market rates were paying abt $1800/mo at that time HUD people were paying about $500/mo.
So those living on Social Security can afford to live in independent living with HUD. But they had a waiting list for HUD apartments. I think they used the market rate apartments to keep HUD units full.
This is a little known alternative.
As for additional care, as skilled nursing, HUD residents probably depend on Medicare recovery when they are hospitalized or ultimately on Medicaid.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|