Fitch Ratings has revised its outlook on life plan communities to negative last week, reflecting the rating agency’s concern that many of COVID’s risks still lie ahead.
Bondholders Lapis Advisers LP and Amundi Pioneer Asset Management have filed a Chapter 11 plan of reorganization and disclosure statement for Bartlett, IL-based continuing care retirement community Clare Oaks Senior Living, according to an article published Tuesday by Bankrupt Company News.
After staff members at a Georgia life plan community committed to sheltering in place in late March alongside 600 residents, an executive said they are still going strong.
Despite challenges, continuing care at home programs quickly have developed innovative ways to support their members and continue to market to prospective members.
Many middle-class older adults living their golden years in socially engaging retirement communities arguably have one person to thank: John Erickson.
“The question all state officials must consider is whether the risk of introducing a virus with an estimated 30% or higher mortality rate into a nursing home or assisted living community outweighs the risk of hospitals being overcrowded,” the American Health Care Association / National Center for Assisted Living and AMDA – The Society for Post-Acute and Long-Term Care Medicine said in a joint statement released Sunday.
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.
Long-term care corporate executives saw an average salary increase of 2.81% in 2019, according to data released Friday by the Hospital & Healthcare Compensation Service.
A bipartisan coalition of 27 members of the House of Representatives is asking the Centers for Medicare and Medicaid Services to withdraw its proposed Medicaid Fiscal Accountability Regulation.
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.
