Continuing care contracts.

Existing law provides for the regulation by the State Department of Social Services of activities relating to continuing care contracts that govern care provided to an elderly resident in a continuing care retirement community for the duration of the resident's life or a term in excess of one year. Existing law imposes certain financial reporting and reserve requirements on providers of continuing care. Existing law requires that a provider that has entered into a Type A contract, as defined, file with the department an actuary's opinion as to the actuarial financial condition of the provider's continuing care operations. This bill would additionally require a provider that has entered into a Type A contract to make the above-described actuarial opinion available online or to a current resident upon request.