The burgeoning population of older adults with schizophrenia and other serious mental illnesses is on pace to overwhelm already-strained health care and long-term care systems in the U.S. Reducing premature institutionalization and excess risk of early mortality while enhancing community tenure among older adults with schizophrenia would not only help to mitigate the impact on various systems of care, but also satisfy the preferences of most older adults with schizophrenia. Many factors leading to premature institutionalization and death for these patients stem from co-occurring preventable chronic health conditions and modifiable health behaviors. In response to the health disparities facing this population, innovative model programs and interventions aiming to ameliorate health and wellbeing, while promoting community-living skills have emerged. In this chapter, we provide an overview of the research supporting current innovative model programs and three key approaches to addressing these challenges: illness self-management, psychosocial rehabilitation, and health promotion. Based on key strengths of the nine model programs and interventions detailed within, we offer novel strategies for future models with an emphasis on reach and sustainability at the population health level.