Lawmakers Outraged Over Legislation to Protect Seniors Failing to Get a Hearing
March 1st, 2018 by Jake Stofan
When a continuing care retirement community goes bankrupt it leaves the resident’s life and finances in jeopardy.
Three of Florida’s 71 CCRC’s have gone bankrupt in the last 5 years.
Sponsors say it’s because the Office of Insurance Regulation has has little authority to step in.
Proposed Legislation would close loopholes and give the OIR power to make changes before a facility goes bankrupt, but it’s stalled in the House.
“If you’re doing the right thing it shouldn’t matter to you, but politics has seeped into this and you’re seeing a bipartisan bill that I’m proud to cosponsor in the House die a slow painful death and it’s awful,” said House sponsor Sean Shaw.
Lawmakers are looking for ways to resurrect the bill, saying if it doesn’t pass CCRC residents will be left at risk.
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