LeadingAge NY Comments on Cost and Availability of Insurance for Affordable Senior Housing, Proposes Solutions to Senate Committees
(Nov. 18, 2025) In response to a joint hearing held by the NYS Senate Committees on Investigations and Government Operations; Insurance; and Housing, Construction, and Community Development to examine the factors contributing to costs and availability of insurance for residential properties in NY on Nov. 18th, LeadingAge NY has submitted comments that speak to the unique challenges faced by affordable multifamily senior housing properties and potential solutions to support the preservation and expansion of this critical housing stock in the future.
As insurance premiums increase and the availability of coverage becomes more limited, multifamily property operators are struggling to keep up with cost increases, and affordable senior housing providers face additional hurdles as they are often miscategorized as assisted living or other higher-liability, higher-cost “health” settings due to non-medical, resident-centered property characteristics including emergency notification systems, mobility adaptations, and “resident assistants” who are available on request to connect low-income, aging residents with community resources that foster healthy, independent living. At the national level, LeadingAge has noted that costs are higher and coverage is more complex and less widely available in cases where carriers misclassify senior housing as a health setting as opposed to a real estate setting, potentially forcing properties to limit or entirely remove resident services and aging adaptations to improve “insurability.”
LeadingAge NY’s comments urge the committees to pursue solutions that ensure adequate and affordable coverage for these multifamily housing properties that include features designed to help aging New Yorkers remain independent and avoid higher levels of care, including providing support to help absorb costs and taking steps to address the underlying causes of those costs, such as lack of market competition and direct or indirect discrimination based on otherwise protected characteristics like age and race.
LeadingAge NY looks forward to future opportunities to work with legislators and other policymakers to discuss and develop potential solutions that promote the long-term viability of our senior housing stock as the State considers next steps in its efforts to mitigate the insurance crisis in NYS.
Contact: Annalyse Komoroske Denio, akomoroskedenio@leadingageny.org, 518-867-8866