The Continuing Care Retirement Communities (“CCRC”) offer a blend of housing complex, activity center and health care system. They consist of independent living, assisted living, and nursing care as well as other programs and activities. Some offer specialized Alzheimer’s memory care units and programs.
However, in recent times, some CCRCs have begun to experience financial instability and therefore have attracted public concern and national attention. In Pennsylvania, at least 3 CCRCs have been impacted by bankruptcy filings. Even though there have been no complete closures to date, there have been significant changes impacting residents. Such changes include increases in service fees, elimination of some services, reduction of staff and changes in personnel management. These concerns generally result from change in ownership and persistent financial problems.
What is the answer to this growing concern? Residents have sought legal guidance, regulatory oversight and investigative reporting. It would appear that if CCRCs are to continue to be a viable option for the elderly all of these avenues most be adequately utilized. In addition, those on the front line of the issues, the residents, must continue to be vigilant in their own advocacy for self-representation. If governing boards of CCRCs do not have resident membership, then such should be sought after by the residents for better knowledge of and control over the financial viability of what has become their home.
Contact us at http://www.ythlaw.com/
However, in recent times, some CCRCs have begun to experience financial instability and therefore have attracted public concern and national attention. In Pennsylvania, at least 3 CCRCs have been impacted by bankruptcy filings. Even though there have been no complete closures to date, there have been significant changes impacting residents. Such changes include increases in service fees, elimination of some services, reduction of staff and changes in personnel management. These concerns generally result from change in ownership and persistent financial problems.
What is the answer to this growing concern? Residents have sought legal guidance, regulatory oversight and investigative reporting. It would appear that if CCRCs are to continue to be a viable option for the elderly all of these avenues most be adequately utilized. In addition, those on the front line of the issues, the residents, must continue to be vigilant in their own advocacy for self-representation. If governing boards of CCRCs do not have resident membership, then such should be sought after by the residents for better knowledge of and control over the financial viability of what has become their home.
Contact us at http://www.ythlaw.com/
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