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Changes Affecting Continuing Care Communities

August 19, 2015 Business & Tax Blog Senior Housing

The Florida Legislature recently passed a bill, CS/HB 749, which implements certain changes in the operations of Continuing Care Communities (“CCCs”) in Florida, effective October 1, 2015. Some of these changes include:

  • CCCs must be accredited by the Office of Insurance Regulation (“OIR”) without stipulations or conditions before OIR can waive statutory requirements.
  • Each CCC must establish a residents’ council created for the purpose of representing residents on matters set forth in the statutes. Previously, the establishment of a residents’ council was optional.
  • Certain financial disclosures must be made to the president or chair of the residents’ counsel.
  • Several technical provisions are now required for resident contracts that are entered into on or after January 1, 2016.

These are just a few of the changes that are required for CCCs under the new laws. The full text of the bill is available here. For more information on how to make sure your CCC is ready for these new changes, please give us a call or email.

Elizabeth M. Stamoulis
Admitted only in New York