New York is often associated with young businesspeople, huge skyscrapers, and bustling streets. New York City is known for its tremendous energy, and many people don’t think of it as a location to retire. However, the city is only a small part of New York, and the remainder of the state provides numerous benefits to seniors. The Top 10 assisted living properties in New York to have rolling hills, beautiful coastlines, cultural events, and resources that other states lack. New York’s tax code also makes it one of the most senior-friendly cities in the country.
- Retirement in New York
There are advantages and disadvantages to retiring in New York, just like anywhere else. Many seniors are attracted to the state’s senior-friendly tax system, as well as the states numerous activities and attractions. According to the CPA Journal, seniors in New York do not have to pay taxes on the first $20,000 they withdraw from their IRA account if they are 59 12 years old or older. The state also offers a variety of payment options for assisted living, making it a practical choice for retirees.
- Three types of ALRs’ Department of Health acknowledge
Basic ALRs serve residents who are physically and psychologically stable. Seniors opt to live in Basic ALRs to meet their social needs and receive assistance with some of their everyday activities (ADL). Basic ALR residents may have vision or hearing impairments and may require assistance with some ADLs (such as grooming, clothing, eating, or toileting). Still, they maintain a high level of independence.
Residents who are heavily reliant on senior care can benefit from Enhanced ALRs (EALRs), which provide services to assist them in completing their ADLs. Some ALRs provide basic and upgraded services, allowing residents to age in place without moving to a new facility. If your loved ones need regular assistance, they may want to explore an EALR:
- Getting up from a sitting position or walking
- Making use of medical equipment
- Taking care of bowel and urinary incontinence
- Options for assisted living
According to a 2017 survey by Genworth Financial, the median monthly cost of assisted living services in New York is $3,988. Assisted living facilities are defined in New York as residences that provide personal and health elder care to adults and seniors and are appropriately licensed by the Department of Health (DOH). The top 10 assisted living properties in New York is classified as assisted living residences (ALRs) and is further classified based on the services they provide.