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Ziegler's Senior Living Research team prepared a Research Brief providing an overview of the CCRC entrance fee refund policy provisions mandated by the various state regulatory agencies across the county.
The authors found that, similar to the absence of a nationwide consensus on the definition of what constitutes a CCRC, there is no uniformity among state regulatory requirements for entrance fee refund conditions, timing and disclosure.
The brief discusses the refund provisions in the 22 states with the greatest number of CCRCs (30 or more), which together cover more than three-quarters of the CCRCs in the country.
The study found that most, but not all, states regulate the disclosure of entrance fee refund provisions but few (fewer than 1 in 10 researched) regulate either the conditions or the timing of entrance fee refunds.