NEWS & BLOG

How is a CCRC regulated?

CCRCs are subject to state regulations in terms of their financial management and the extent and enforcement of those regulations varies from state to state. In North Carolina, the state Department of Insurance provides rigorous oversight, requiring multiple documents to be submitted annually, including a disclosure statement, actuarial studies, audited financial statements, and many more. They also impose strict cash reserve requirements and escrow requirements related to entry fees for start-up communities.

The health care operation of CCRCs are generally regulated both by state health departments and subject to Federal oversight if the community participates in Medicare or Medicaid, as Legacy does.

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