Senior Cooperative Housing Communities Growing in Popularity

With co-ops increasing in popularity, many now have lengthy wait lists.

COLON CANCER SCREENING SAVES LIVES B U T O N L Y I F Y O U G E T T E S T E D ! YOU MAY QUALIFY FOR A FREE COLONOSCOPY IF YOU ARE: Age 45-75 GOOD NEWS! Is COST a keeping you from being screened for colon cancer? under 45 may qualify in come cases YOU MAY QUALIFY FOR A FREE COLONOSCOPY IF YOU ARE: Age 45-75 GOOD NEWS! Is COST a keeping you from being screened for colon cancer? under 45 may qualify in come cases GOOD NEWS! You may qualify for a free colonoscopy if you are: age of 45-75? Uninsured or Underinsured Uninsured: No public/private insurance. Underinsured: High deductible plans G O O D N E W S ! You may qualify for a free colonoscopy if you are: Age 45-75 under 45 may qualify in some cases Uninsured or undersinsured Uninsured: No public/private insurance Undersinsured: High deductible plan with out-of-pocket maximums greater than 5% individual annual income YOU MAY QUALIFY FOR A FREE COLONOSCOPY IF YOU ARE: Age 45-75 GOOD NEWS! Is COST a keeping you from being screened for colon cancer? under 45 may Uninsured or Underinsured Uninsured: No public/private health insurance Underinsured: out-of-pocket maximums greater than 5% of individual income No Medicare Part B Coverage Senior Cooperative Housing Communities Growing in Popularity An ideal alternative for active, independent seniors by Angela S. Hoover, Staff Writer

COLON CANCER SCREENING SAVES LIVES B U T O N L Y I F Y O U G E T T E S T E D ! You may qualify for a free colonoscopy if you are: Age 45-75 Uninsured: No private/public health insurance or Underinsured: high deductible plan with out-of-pocket maximums greater than 5% individual income This program is funded by the Kentucky Colon Cancer Screening Program SCREENING SAVES LIVES BUT ONLY IF YOU GET TESTED! CALL 859.309.1700 OR 877.597.4655 TO DISCUSS ELIGIBILITY Uninsured or Underinsured Uninsured: No public/private health insurance Underinsured: High deductible plan with out-of-pocket maximums greater than 5% of individual income A Kentucky Resident includes legal immigrants: green card holders work/student visas refugees Not going back for your follow-up colonoscopy because your deductible is TOO HIGH or you LOST your insurance? CALL to see if you are eligible to receive a FREE colonoscopy! SCREENING SAVES LIVES BUT ONLY IF YOU GET TESTED! CALL 859.309.1700 OR 877.597.4655 TO DISCUSS ELIGIBILITY Uninsured or Underinsured Uninsured: No public/private health insurance Underinsured: High deductible plan with out-of-pocket maximums greater than 5% of individual income A Kentucky Resident includes legal immigrants: green card holders work/student visas refugees Not going back for your follow-up colonoscopy because your deductible is TOO HIGH or you LOST your insurance? CALL to see if you are eligible to receive a FREE colonoscopy! SCREENING SAVES LIVES BUT ONLY IF YOU GET TESTED! CALL 859.309.1700 TO DISCUSS ELIGIBILITY A Kentucky Resident Includes Legal Immigrants: • green card holders • work/student visa • refugees A Kentucky Resident SCREENING SAVES LIVES but ONLY if you get tested! Call 859-309-1700 or 877-597- 4655 to discuss eligibility! Includes Legal Immigrants: green card holders work/student visa refugee

Funding provided by: Kentucky Colon Cancer Screening Program SCREENING SAVES LIVES BUT ONLY IF YOU GET TESTED! CALL 859.309.1700 OR 877.597.4655 TO DISCUSS ELIGIBILITY A Kentucky Resident includes legal immigrants: green card holders work/student visas refugees Not going back for your follow-up colonoscopy because your deductible is TOO HIGH or you LOST your insurance? CALL to see if you are eligible to receive a FREE colonoscopy! Don’t let cost keep you from being screened for colon cancer. Cooperative (co-op) housing is a different type of home ownership. Instead of owning actual real estate, you are part of a corporation that owns the building and/or land. Instead of buying an individual unit – an apartment, a house, a lot – you own a share of a corporation that owns the whole entity, entitling you to reside in a unit. The shareholders help pay for the mortgage and maintenance of the property. Most of these master mortgages are HUD-insured on a 40-year note at competitive interest rates.

Becoming a resident and shareholder has two costs: a one-time share cost (down payment) and a monthly fee. The share cost can be significant, usually 20 percent to 40 percent of the unit’s value. Typical unit prices can range from $1,000 to $225,000. Most of these co-ops have a board of directors, which is somewhat more powerful than a condominium association. They can limit who is allowed to live in the cooperative.

Co-ops can be based on common spiritual or dietary beliefs, common interests or anything else. There are CO-OP Continued on Page 10

Positive impacts for residents, according to an Ohio State University study, include: Cooperative Housing

Ease of maintaining a home: 93% Ability to live independently: 84% Personal safety: 82% Life satisfaction: 80% Access to activities and entertainment: 77% Amount of contact with friends: 77% Happiness: 77% Personal privacy: 67% Physical health: 63%

CO-OP continued from Page 9

numerous senior co-ops, which are generally for those age 55 years and older who are still active and independent. The first senior housing co-op began in Edna, Minn., in 1978. Since then the number of cooperatives has expanded, primarily in the Midwest.

From a social aspect, the co-ops are designed to bring residents together. Many feature community rooms, activity buildings, gardens and parks, which make it easier for seniors to connect. Often the co-ops offer convenient access to nearby shopping, restaurants and entertainment. Because the co-ops are exclusive to seniors, residents don’t have to worry about rowdy college students or other troublesome neighbors moving in next door or upstairs.

One benefit of belonging to a cooperative living environment is you have an equal voice in how it’s run. You have the same tax benefits of home ownership but without the hassle of home upkeep. This makes an ideal transition from long-time home ownership to a more maintenancefree lifestyle without being at the mercy of a landlord and nuisance neighbors. As a resident you own the building and land collectively with the other residents. Senior co-ops are operated as nonprofits and the target residents are middle- to upper-middle-income seniors. Typical amenities include fitness rooms, a community kitchen, a library, a workshop, laundry facilities, guest rooms, indoor heated parking and outdoor gardens. Services can include maintenance of common areas and home appliances, housekeeping for the common areas, on-site transportation and social activities such as book clubs, field trips, discussion groups, movie nights and happy hour. The perks far outweigh the few downsides. Some communities may impose restrictions on smoking and pets. With co-ops increasing in popularity, many now have lengthy wait lists. Co-op living can also complicate things if a resident dies or becomes ill and needs to be moved to a nursing care facility. The resident’s family members will have to continue paying their monthly dues until the shares are sold. Check out www.seniorcoops. org/housing-list-2 for the largest listing of senior cooperatives by state.

SOURCES • Lendingtree.com • Ohio State University • Seniorliving.org • Smartasset.com • The Senior Cooperative Foundation