Olympia – Rep. Brady Walkinshaw (D-Seattle) testified in the Health Care and Wellness Committee for a measure he sponsored to provide increased transparency and oversight of continuing care retirement communities (CCRCs).
“Retirement security is essential for seniors in our state. This consumer protection legislation provides transparency to protect the financial investments and provide the necessary information for seniors as they make financial decisions about their retirement,” said Rep. Brady Walkinshaw.
The legislation would affect two dozen retirement communities located around the state. Continuing care retirement communities offer a mix of residential options designed to allow older adults the ability to remain in the same community as their health needs change. While CCRCs are not a regulated entity in Washington, any assisted living component or skilled nursing component must meet state licensing standards for those types of facilities. The legislation is modeled on a bill recently passed in Connecticut.
“It’s been a privilege working with a broad coalition of seniors in retirement communities in my district over the last year to bring this legislation forward,” said Rep. Walkinshaw.
If passed, Rep. Walkinshaw’s measure would:
- Establish standards for continuing care retirement communities (CCRCs) to become certified with the Department of Social and Health Services.
- Require a CCRC to provide prospective residents with a disclosure statement containing specified information about the CCRC.
- Establish rights for residents of CCRCs and requirements that notice of the rights be posted in the CCRC.
HB 2726 is scheduled for executive session on January 29th in the Health Care and Wellness Committee at 10:00 AM (subject to change).