Governor Phil Murphy has signed legislation long-sponsored by Senator Kip Bateman to hold continuing care retirement communities (CCRC) accountable for reimbursing seniors or estate holders in a timely manner.
Gov. Phil Murphy has signed Sen. Kip Bateman’s bill to hold continuing care retirement communities accountable for reimbursing seniors or estate holders in a timely manner. (Flickr)
Senator Bateman introduced this legislation after a CCRC held Ed Nagle’s deceased mother’s entrance fee’s “hostage,” resulting in an $88,481 loss for his family, as reported by NJ.com’s “Bamboozled.”
A similar incident occurred to Patricia Lund, who after two years of living in a CCRC, opted to move in with her son and daughter-in-law in 2009. However, she has yet to receive her refundable entrance fee – worth over $160,000.
“For far too long, retirees and estate holders have been victimized by a system that allowed greedy CCRCs to hold their scare financial resources hostage for years on end. Today we put a stop to it. The nightmare is over,” Senator Bateman (R-16) said. “I am so grateful to Ed Nagle, the advocates, the press, and all of those who helped us shed a light on this issue over the years. Now we can finally deliver justice, peace and financial stability to seniors and surviving family members in need.”
Bateman’s bipartisan legislation, ACS A-2747, 880-S-1532, will limit the time a continuing care retirement community (CCRC) can retain a refundable entrance fee after a resident leaves the facility. It will also provide for the clear disposition of certain personal property.
There are more than 10,000 seniors housed in 26 CCRCs throughout New Jersey, according to the Organization of Resident Associations of New Jersey (ORANJ).
“I have always believed that we have a responsibility to keep our seniors physically and financially secure, which is why I have spent years fighting for the passage of this bill,” Senator Bateman said. “Older New Jerseyans and those they leave behind should not have to play tug of war with CCRC’s to get the money they are rightfully owed. I am so glad to see the Governor do the right thing by signing this bill into law.”
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