New Forum: Florida Legislation on CCRC Resident Protections – A Critical Discussion
This sppecial forum is dedicated to discussing the pending legislation in Florida that could significantly impact residents of Continuing Care Retirement Communities (CCRCs). This legislation, proposed by the Florida Office of Insurance Regulation, aims to strengthen financial protections for residents, particularly in cases of provider bankruptcy.
What’s at Stake?
Currently, residents of CCRCs are considered unsecured creditors in the event of a financial failure, meaning they stand in line behind lenders, vendors, and other financial interests when assets are distributed. The proposed legislation seeks to elevate the priority of resident claims, offering stronger protections for those who have entrusted their savings and future well-being to their communities.
Why This Matters
This reform is not just about financial security—it’s about building trust between providers and residents. When residents know they have a higher level of protection, confidence in the CCRC model strengthens. At the same time, responsible providers benefit from a more level competitive playing field, where transparency and financial accountability become the standard rather than the exception.
A National Model?
Florida is leading the way with this proposal, but the need for resident protections extends beyond one state. As we discuss these developments, we can explore how similar reforms might be pursued elsewhere and how we, as residents and advocates, can engage with policymakers to shape the future of CCRCs.
Join the Discussion
- What questions or concerns do you have about this legislation?
- How do you see this affecting residents and providers?
- What steps can be taken to support or improve these proposed changes?
Let’s use this space to stay informed, exchange ideas, and take action to ensure that CCRC residents receive the protections they deserve.
Richmond Shreve
NaCCRA Board Member
Forum Moderator