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MA S417

MA S417
Relative to disclosing continuing care retirement community entrance fees


summary

Introduced
03/29/2021
In Committee
03/29/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to disclosing continuing care retirement community entrance fees. Elder Affairs.

AI Summary

This bill amends the state's laws regarding continuing care retirement communities (CCRCs) to require providers to give prospective residents a separate document that clearly states the amount of the entrance fee that will be refunded to the resident when they leave the facility or die, as well as the terms, conditions, and explanation of the refund process. Residents must sign this disclosure statement before paying the full entrance fee. This requirement does not apply to fees paid to get on a waiting list for a CCRC.

Committee Categories

Health and Social Services

Sponsors (4)

Last Action

Accompanied H746 (on 10/25/2021)

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