CCRCs: Key Tax Implications for Residents
The demand for long-term care facilities in the United States continues to rise, along with the costs. Someone who turns 65 today has roughly a 70% chance of eventually requiring long-term care services, according to the latest data from the U.S. Department of Health and Human Services. Moreover, 20% of seniors will need it for longer than five years. However, not everyone will wind up in a traditional nursing home.