§ 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:

Terms Used In N.Y. Public Health Law 4624

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • community: shall mean a facility or facilities established to provide a comprehensive, cohesive living arrangement for the elderly, oriented to the enhancement of the quality of life and which, pursuant to a contract, at a minimum:

    a. See N.Y. Public Health Law 4601
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Council: shall mean the continuing care retirement community council, established pursuant to section forty-six hundred two of this article. See N.Y. Public Health Law 4601
  • Entrance fee: shall mean an initial or deferred transfer to an operator of a sum of money, made or promised to be made by a person or persons entering into a continuing care retirement contract or continuing care at home contract, for the purpose of ensuring services pursuant to such a contract. See N.Y. Public Health Law 4601
  • Facility: shall mean any place in which an operator undertakes to provide a resident with the services of a continuing care retirement community, pursuant to a contract, whether such place is constructed, owned, leased, rented, or otherwise contracted for by the operator. See N.Y. Public Health Law 4601
  • Resident: shall mean any person who, pursuant to a continuing care retirement contract or continuing care at home contract, is entitled to reside in and/or receive services from a continuing care retirement community. See N.Y. Public Health Law 4601

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.

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