Executive Compensation Regulations

Last week, the Department of Health and twelve other state agencies issued final regulations limiting spending on executive compensation and administrative costs.  The final regulations contain only minor changes from the previous version, and both the effective date (July 1, 2013) and implementation date (Jan. 1, 2014 for most providers) are unchanged.

LeadingAge New York commented extensively on each proposed revision to the regulations, which took well over a year to be finalized. Hinman Straub, our general and legislative counsel, is currently preparing a detailed analysis of the final regulations which we will share with the membership. LeadingAge NY also plans to provide affected members with educational and other assistance on the new requirements, and the Association’s Legal Services Committee will be closely monitoring implementation of the regulations.

Contact: Dan Heim, dheim@leadingageny.org, 518-867-8866