Here are a few terms
you need to know

Activities of Daily Living:
The tasks people perform each day. Examples include bathing, toileting, dressing, grooming and eating.

Adult Day Care:
A facility that provides programs, activities, rehabilitation and more for those unable to care for themselves. Part of Respite Care (see definition below)

Alzheimer's Disease:
A degenerative brain disease of unknown cause that is the most common form of dementia. Alzheimer's usually starts in late middle age or in old age and results in progressive memory loss, impaired thinking, disorientation, and changes in personality and mood. Alzheimer's disease affects more than 5 million Americans.

Assisted Living:
State-regulated communities for seniors who require 24-hour assistance with one or more tasks of daily living. Assisted Living communities provide aid in such tasks as bathing, dressing, housekeeping, and eating. Medication assistance varies according to state regulations. Assisted Living communities also generally offer activities for residents, transportation, and housekeeping services.

Continuing Care Retirement Community (CCRC):
Communities that provide a range of services and senior living options in one location, allowing seniors to enjoy familiar settings as they age. As needs change, seniors can move from Independent Retirement Living to Assisted Living to Nursing Home without relocating to a different facility.

HMO:
Acronym for Health Maintenance Organization, a form of insurance coverage which provides comprehensive health care to enrolled individuals and families within a particular geographic area by member physicians with limited referrals to outside specialists. It is financed by fixed periodic payments.

Home Care:
Care that provides seniors with in-home assistance based on frequency and level of needs, and may include daily activities such as bathing, dressing, housekeeping, meals, and medication. Home Care is available both in-home and in Independent Retirement Living communities, but may be restricted in communities providing higher levels of care.

Hospice Care:
Care that provides spiritual, emotional, and practical support for terminally ill patients with a life expectancy of six months or less. Hospice is designed to improve the patient's quality of life in his or her final stages of life. The majority of hospice care is provided in-home but is also offered in a range of other settings, including a Hospice facility, a hospital or nursing home.

Independent Retirement Living:
A versatile senior living option that combines the ease and comfort of community living with the independence of a private apartment. These communities are ideal for seniors who seek a simpler, relaxing retirement lifestyle but do not require around-the-clock assistance (though Home Care is often available). Independent Retirement Living communities feature an all-inclusive lifestyle. While residents enjoy the comforts of having many daily tasks taken care of, they also receive the safety and security of live-in managers available 24/7, and emergency call systems in each apartment, as well as three meals per day, transportation, full social calendars, weekly housekeeping and linen service, and much more.

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Medicare:
The federal medical insurance program for seniors 65 and older and others who qualify. Medicare Part A provides hospital and nursing care while Part B covers doctor care, therapy and some Home Care.

Medicaid:
A program of medical aid designed for those unable to afford regular medical service and financed by the state and federal governments.

Memory Care:
Facility that provides specialized care for seniors unable to communicate or in need of assistance with daily activities due to Alzheimer’s disease or other memory loss. The facility provides a safe and physically secured environment while helping residents cope with their disease through various classes, programs, and activities. Also known as Alzheimer's Care or Dementia Care.

Nursing Home:
A state-licensed facility intended for seniors requiring 24-hour nursing or health care, either long-term or short-term. Nursing homes offer a comfortable community, private or shared rooms, and around-the-clock medical staff, including registered nurses, licensed practical nurses and nurses' aides.

Respite Care:
Short-term or temporary relief for caregivers. The care can range from a day to multiple weeks and can be administered in-home, at an Assisted Living facility, a Nursing Home or an adult day care.

Lease and contract terms

The definitions below describe items that may be found within a lease agreement. As with any legal documents you sign, it's wise to ask an attorney for assistance in reviewing the terms of the contract and all of the fine print. Know what services are included in the base price and the price for every variable cost offered. Everything, including whether the base price is set to increase annually, should be documented in the contract.

Buy-In Fee:
An upfront annuity purchase that a community may charge as part of entry. Monthly rent payments follow the initial buy-in fee.

Length of Lease or Rental Agreement:
Term of the lease, usually in months or years; the specified period of residency required in the contract.

Lease Flexibility:
Options that may be available for adjusting the term of the lease (length of the lease) and/or requirements to break the lease.

Deposit Fees:
The upfront costs that must be paid in order to move into a community. Fees include, but are not limited to, refundable and non-refundable deposits, community fee, pet fee, etc.

Monthly Fees:
Total cost of rent expenses that are paid on a monthly basis to a retirement community.

Payment Options:
The types of payment accepted to cover monthly rent.

Payment Schedule:
The date rent is due as well as the date rent is considered late and any late fees that will be assessed.

Rent & Fee Changes:
When and how often rent or fee charges change and what notification (verbal, written, time frame, etc.) you are given prior to the change.

Contract Changes Permitted:
The steps (if any are available) that are required by the community to alter the contract if changes in personal care or other needs arise that need to be added to the current contract. 

Contract Termination Policy/Move-Out Policy:
The amount of notice you are required to give if you decide to cancel your contract and/or move-out of the community. Be aware of any penalties for premature cancellation. 

Second Occupant Fee:
The monthly additional cost to have a second person live in the contracted unit.

Variable Costs & Extra Costs:
Additional costs not included in the base price/monthly rent. See "All items not included in monthly fees" below.

All Items Not Included in the Monthly Fees:
Additional service packages or items that are charged to the resident.  Examples include additional meals, additional housekeeping (to increase from bi-weekly to weekly), transportation, pet fees, personal care, etc.

Items Not Included in the Second Occupant Fee:
Service packages or items that are not included in the fee paid by the second occupant. Examples include meals, transportation or other amenities that the first occupant may receive. Be aware of the additional costs incurred to match the amenities enjoyed by the first occupant.