Should Government Regulate the Financial Management of Continuing Care Retirement Communities?

Volume 1, Issue 1

Should Government Regulate the Financial Management of Continuing Care Retirement Communities? - Michael D. Floyd

In this article, Professor Floyd takes issue with those who would expand federal or state regulation of continuing care retirement communities ( CCRCs ) in order to protect potential purchasers of such contracts. He discusses the development and nature of CCRCs , as well as the problems that have led to the movement for regulation at state and federal levels. Professor Floyd proposes that developing market mechanisms can solve most or all of the CCRC financial problems, particularly existing accreditation programs, commercial insurance, and improvements that come from managers and consumers having learned from past mistakes. Because the market will take care of these CCRC problems, Professor Floyd questions the need for state or federal regulation.

Michael D. Floyd is Assistant Professor of Law, Cumberland School of Law of Samford University , Birmingham , Alabama . A.B., Princeton University ; M.S., New York University ; C.P.A., New York ; J.D., Emory University.