N.Y. Public Health Law § 4624: Continuing care retirement communities making assurances regarding long term care

§ 4624. Continuing care retirement communities making assurances

regarding long term care. 1. Nothing in this article shall obligate a

continuing care retirement community to offer life care contracts;

provided, however, that only continuing care retirement communities

which offer life care contracts or which comply with the requirements

set forth in subdivision two of this section shall be eligible for the

following:

a. An exemption from a public need determination and establishment

approval regarding an on-site or affiliated residential health care

facility in accordance with subdivision five of section forty-six

hundred four of this article; and

b. Industrial development agency financing in accordance with section

forty-six hundred four-a of this article; or

c. Financing by any public benefit corporation authorized to make

loans to continuing care retirement communities under the laws of this

state.

2. A continuing care retirement community not exclusively offering

life care contracts but desiring eligibility for an exemption from a

public need determination and establishment approval and/or for

industrial development agency financing or financing by any public

benefit corporation authorized to make loans to continuing care

retirement communities under the laws of this state must assure that all

residents and prospective residents have the ability to fund the

estimated cost of nursing facility services for a period of one year.

Such assurances may be demonstrated through the terms of the continuing

care contract, resident assets, resident income, long term care

insurance or refund of all, or a portion of, the entrance fee and shall

be in accordance with regulations adopted by the council. The community

must pay for such care in the event that resident assets are

insufficient to fund the cost of nursing facility care for a one year

period.