SB 5796 - DIGEST

Provides independent residents of continuing care retirement communities (CCRCs) access to the office of the state long-term care ombuds through a pilot project.

Requires an applicant for a registration as a CCRC to submit the following to the department of social and health services: (1) Service or care agreements used for nonindependent residents that the CCRC intends to use for the certification period; and

(2) A copy of the most recent actuarial report.

Requires a CCRC to prepare a disclosure statement that includes: (1) Whether, and in what manner, funds have been set aside for reserves or other contingent liabilities reflected in the financial statements;

(2) Management fees or other compensation paid by the CCRC to a management company or related party, that controls the CCRC during the CCRC's two preceding fiscal years; and

(3) An actuarial summary of the CCRC's most recent actuarial report.

Requires a CCRC to notify independent residents that audited financial statements and actuarial evaluations are available to the residents within thirty days after they are delivered to the chief financial officer.

Requires the department of commerce and a private nonprofit organization to enter into a separate contract for additional services which will enable the ombuds to provide services to the residents of CCRCs through a pilot project in a county that has a suitable concentration of CCRCs.

Requires the ombuds to create a pilot project advisory committee to provide feedback and input about the pilot program.