An Act relative to disclosing continuing care retirement community entrance fees

This bill requires continuing care retirement communities in Massachusetts to provide prospective residents with a specific document detailing how much of their entrance fee will be refunded upon leaving or passing away. The law mandates that this disclosure clearly explains the refund amount and the process for receiving it, and it must be signed by the resident before the full fee is paid. Additionally, the requirement does not apply to fees paid simply to join a waiting list. This change aims to increase transparency regarding financial terms for individuals considering these retirement facilities.