Washington HB2384 enhances regulatory oversight of continuing care retirement communities by requiring actuarial analysis reviews for registration.

Washington HB2384 amends existing laws to increase regulatory oversight of continuing care retirement communities. The bill mandates that applicants for registration submit an actuarial analysis prepared by a qualified actuary. The Office of the Insurance Commissioner reviews these analyses to determine if applicants can meet their contract obligations. The Department of Social and Health Services bases its registration decision on the completeness of the application and the actuarial analysis review.

Washington HB2384 enhances regulatory oversight of continuing care retirement communities by requiring actuarial analysis reviews for registration.

Washington HB2384 amends existing laws to increase regulatory oversight of continuing care retirement communities. The bill mandates that applicants for registration submit an actuarial analysis prepared by a qualified actuary. The Office of the Insurance Commissioner reviews these analyses to determine if applicants can meet their contract obligations. The Department of Social and Health Services bases its registration decision on the completeness of the application and the actuarial analysis review.