Although sector-wide rating changes are not expected in the near term, the increased operating costs and shifts in census associated with the COVID-19 outbreak may have negative effects on lower-rated life plan communities, according to an analysis by Fitch Ratings. Higher-rated life plan communities have more cushion to absorb these operating challenges without meaningfully affecting their credit profiles, Fitch said.
The Centers for Medicare & Medicaid Services should withdraw the proposed Medicaid Fiscal Accountability Regulation because, if finalized, it would jeopardize access to care and “cripple” Medicaid financing in several states, leaders of the American Health Care Association / National Center for Assisted Living and the American Hospital Association said Thursday.
A Centers for Medicare & Medicaid Services regulation effectively proposing new Medicaid taxes could “lead to a major financial burden” for continuing care retirement communities and residents — and even the closure of skilled nursing units within CCRCs — in 18 states.
A life plan community’s amenities, religious affiliation and geographic location may give its residents an edge on health and wellness, according to the results of the second year of the five-year Age Well Study being conducted by Mather Institute and Northwestern University. The results were released Tuesday.
Assisted living occupancy increased to 85.7% in the fourth quarter of 2019, up from a recent record low of 85.1% earlier in the year as demand outpaced new inventory growth, according to data released Thursday by the National Investment Center for Seniors Housing & Care. The rate marked the strongest occupancy in assisted living in two years.
Spending on continuing care retirement communities and nursing care facility services increased 1.4% in 2018 to $168.5 billion, according to an analysis from the Office of the Actuary at the Centers for Medicare and Medicaid Services published Thursday.