Fort Myers Senior AdvisorWhat is a continuing care contract in Florida?
A continuing care contract is an agreement under Chapter 651, Florida Statutes, in which a provider promises shelter plus nursing or personal care services for more than a year, usually in exchange for an entrance fee and monthly fees; providers must hold a certificate of authority from the Office of Insurance Regulation.
Lee County has four OIR-listed providers. Each contract form must be filed with OIR, which reviews it for required terms but does not set prices.
Can I cancel a Florida life plan community contract after signing?
Yes: Chapter 651 gives the resident 7 days after signing, or after receiving the required disclosures if later, to rescind the contract without penalty and receive the entrance fee back, less any costs specifically incurred at the resident's request.
A resident who has not yet moved in may also cancel if he or she dies or becomes unable to move in for health reasons, with the refund terms set by the statute and the contract.
What refund does a Florida CCRC owe if a resident leaves?
Florida law sets minimum refund rules for residents who leave or die after moving in, and contracts layer their own plans on top, from declining-balance refunds that reach zero over a few years to plans that return 50 to 90 percent of the entrance fee.
Refundable plans cost more up front. Ask when the refund is paid; many contracts pay only after the unit is resold.
What are the main types of continuing care contract?
The common types are life care (Type A), where monthly fees stay largely the same if care needs rise; modified (Type B), with a set amount of discounted care; and fee-for-service (Type C), where care is available on campus at market rates.
Compare total expected cost over 10 to 15 years, not only the entrance fee.
What should I read before signing at a Lee County life plan community?
Read the contract, the disclosure statement, the most recent audited financial statements and the annual report filed with OIR, and ask for the history of monthly fee increases and the current occupancy.
OIR's CCRC staff (850-413-3153) can confirm a provider's status. Residents' councils can tell you how the provider handles budget questions.
The short version
| A Florida continuing care contract is | A Florida continuing care contract is not | |
|---|---|---|
| Cancel | Rescindable within 7 days | Binding the moment it is signed |
| Refund | Subject to statutory minimums plus the plan chosen | Always fully refundable |
| Prices | Disclosed and filed with OIR | Set or capped by OIR |
Built from Chapters 400, 408, 429 and 651 of the Florida Statutes, Fla. Admin. Code chapters 59A-4, 59A-36 and 65A-2, and AHCA, DCF, OIR, Elder Affairs, CMS, VA and CareScout publications cited on the page; see our editorial standards.
