Updates from Oct. 19th CCRC Council Meeting
The Department of Health (DOH) held a meeting of the Continuing Care Retirement Community (CCRC) Council on Oct. 19th. The meeting began with a welcome of two new members: Herb Friedman, public member, and Madeline Lee, a resident of Woodland Pond at New Paltz.
During the meeting, representatives from The Summit at Brighton presented their plans for Life Care at Home services. Mike Heeran asked the Council what information would be helpful for them to evaluate the plan given that this is the first such program the Council has evaluated. There was interest in results of the actuarial study, a copy of the contracts to be offered and fee structures, disclosure statements, and the feasibility and marketing study.
Updates were provided regarding the improving financial conditions at The Amsterdam at Harborside and Glen Arden.
Mike Heeran provided a brief update to the Council regarding the status of the CCRCs across the state. He reported that most CCRCs were able to maintain pre-pandemic occupancy rates. CCRCs have been protective in the pandemic and have employed strategies to safely engage residents and avoid isolation. There have been requests for deferred entrance fees to allow the ability to pay entrance fees after the sale of a home has occurred. It was noted that CCRCs have experienced increased costs due to the pandemic and staffing challenges, which will likely result in increases in fees for next year. DOH reminded that residents must receive 60 days notice of a change in fees, and fee schedules need approval from the Department of Financial Services (DFS). The CCRC must also meet with residents annually to discuss the financial position of the community, proposed changes, and overall services.
The meeting concluded with a brief update on Fountaingate Gardens in Suffolk County, where construction has begun with anticipated conclusion in the spring of 2022. River's Edge in the Bronx is focusing on phase one of its independent units, with construction anticipated in 2023.
The public can view a recording of the meeting here.
Contact: Diane Darbyshire, email@example.com, 518-867-8828