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Vol. 22 Issue 26
CCRC Regulatory Update
- Contract Reviews: As of 11/16/15, thirty-four continuing care retirement communities have filed revised contracts with the Office of Insurance Regulation to comply with the 2015 statutory changes to Ch. 651, F.S. Seven of those CCRCs have contracts that are still in the review process which is taking about 14 days. Although Chris Struk’s position and responsibilities have changes, he will continue to complete contract reviews until a new CCRC Section is up and running. If you have questions about the contract review process or do not know if your contract requires changing, you may contact Chris at (850) 413-2480 or Mary Ellen Early, LeadingAge Florida Public Policy Liaison, at (386) 734-7681. Please remember that most of the contract changes must be completed and in use by January 1, 2016.
- CCRC in the News: University Village, a Tampa CCRC and LeadingAge Florida member, made the WFLA TV Channel 8 nightly news broadcast on November 4, 6, and 13. The coverage related primarily to a dispute with OIR and the Department of Financial Services over receivership proceedings. You might want to view the news clips in case residents or prospective residents ask you about them. Go to WFLA and type in University Village in the search field.
- Updated Chapter 651, F.S.: Ch. 651, F.S., has been updated to include the 2015 changes adopted by the Florida Legislature as part of HB 749. To download the document, please click here. We will also post the updated version of Ch. 651, F.S., on the LeadingAge Florida website.
"Benchmarking Your CCRC" Presentation Posted on LeadingAge Florida Website – In case you missed the informative November 17, 2015 webinar presented by Moore Stephens Lovelace, P.A. on "Benchmarking Your CCRC," the PowerPoint presentation is posted on our website under CCRC news. You may also view the PowerPoint presentation by clicking here. The information can be used to compare certain aspects of your community with other CCRCs in your region. It is more detailed than the annual report prepared by the Office of Insurance Regulation and can be used as a strategic planning tool by your board of trustees and management.
A special thank you to the speakers: Scot Aurelius, CPA, Shareholder, Robert Matschner, CPA, Shareholder, and Boris Kushnir, MBA, Senior Manager.
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