N.Y. Public Health Law 4605-A – Certificate of authority; authority to offer continuing care at home contracts
§ 4605-a. Certificate of authority; authority to offer continuing care at home contracts. A continuing care retirement community may offer continuing care at home contracts upon approval by the council to amend the continuing care retirement community's certificate of authority. In order to qualify for an amendment to its certificate of authority, the continuing care retirement community shall submit to the commissioner the following:
Terms Used In N.Y. Public Health Law 4605-A
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- certificate of authority: shall mean an authorization in writing, approved by the council and issued by the commissioner, for an operator to operate a continuing care retirement community and to enter into continuing care retirement contracts and continuing care at home contracts pertaining to such community. See N.Y. Public Health Law 4601
- Commissioner: shall mean the commissioner of health. See N.Y. Public Health Law 4601
- community: shall mean a facility or facilities established to provide a comprehensive, cohesive living arrangement for the elderly, oriented to the enhancement of the quality of life and which, pursuant to a contract, at a minimum:
a. See N.Y. Public Health Law 4601 - continuing care at home contract: shall mean a single contract to provide a person the services provided by a continuing care retirement community. See N.Y. Public Health Law 4601
- Contract: A legal written agreement that becomes binding when signed.
- Council: shall mean the continuing care retirement community council, established pursuant to section forty-six hundred two of this article. See N.Y. Public Health Law 4601
- Superintendent: shall mean the superintendent of financial services. See N.Y. Public Health Law 4601
1. a business plan to the commissioner and superintendent that includes the following:
(a) a description of the continuing care at home services that will be provided, the market that will be served by the continuing care at home contracts, and the fees to be charged to prospective continuing care at home contract holders;
(b) a copy of the proposed continuing care at home contract; and
(c) an actuarial study prepared by an independent actuary in accordance with standards adopted by the American Academy of Actuaries demonstrating the impact that the continuing care at home contracts will have on the overall operations of the continuing care retirement community and further demonstrating that the addition of continuing care at home contracts will not jeopardize the financial solvency of the continuing care retirement community.
2. a market feasibility study demonstrating to the commissioner and superintendent sufficient consumer interest in continuing care at home contracts and further demonstrating that the addition of continuing care at home contracts will not have an adverse impact on the provision of services to continuing care retirement contract holders.
3. materials that meet all requirements established by the New York state department of financial services.
4. A copy of the notification sent to continuing care retirement contract holders describing the anticipated impact of the addition of continuing care at home contracts on continuing care retirement community resources and proof that such notification has been distributed to all continuing care retirement contract holders.