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New YorkS 88022025-2026 Regular SessionSenateWALLET

Relates to oversight of continuing care communities; repealer

Sponsored By: Cordell Cleare (Democratic)

Became Law

RULESHEALTH

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Bill Overview

Analyzed Economic Effects

8 provisions identified: 4 benefits, 0 costs, 4 mixed.

Continuing care at home now allowed

Continuing care communities can offer a "continuing care at home" contract if the state approves an amendment to their certificate. To get approval, the operator must submit a business plan, the contract, an independent actuarial study, a market study, materials for Financial Services review, and proof it notified current residents. The Department of Financial Services sets approval conditions based on the community’s financial impact and the submitted materials. This expands access to in‑home care under regulated terms.

Stronger cash reserves to protect residents

Operators must keep liquid reserves to cover key costs. Rules require amounts for up to 12 months of principal, interest, taxes, and insurance; up to 6 months of operating costs; and up to 12 months for repairs and replacements. Assets backing these reserves must meet quality and limit rules set by the Department of Financial Services. These cushions lower insolvency risk and help ensure services continue.

Stricter financial reporting by operators

Operators must file an annual statement within four months after their fiscal year ends, or pay a late fee. The filing includes audited financials, notes, a reserve asset listing, and the most recent actuarial review; a new actuarial review is required at least every three years. Sixty days before each year starts (or before opening), operators must also file long‑term debt service and 10‑year revenue and expense projections. These filings help regulators spot problems early and protect residents.

Fee protections for seniors in continuing care

The Superintendent of Financial Services must approve the methods used to set entrance and monthly care fees and the standard resident contracts. Monthly care fees can change without special approval if the change stays within a cost index the Superintendent sets and updates at least once a year, and the Superintendent is told before it takes effect. Larger changes must be approved. A resident’s monthly care fee cannot be raised because that resident needs more services.

Streamlined insurance licensing with oversight

Organizations that follow Article 46 rules can operate without a separate insurance license, except where Article 46 requires it. They still must meet the Superintendent’s rules on financial feasibility, actuarial work, and approval of contracts and rates. They remain subject to Insurance Law Article 74, and the Superintendent must consult the continuing care council before starting an Article 74 action.

New council to oversee continuing care

The law creates a Continuing Care Retirement Community Council. It includes state officials and eight public members named by the governor, with limits to avoid industry dominance, at least two resident members, and one member representing seniors’ interests. The council advises on policy, studies issues, and makes recommendations to improve protections and operations.

New operator fees and faster approvals

The health commissioner now coordinates CCRC applications across agencies to cut duplication and delays. The commissioner can approve, deny, suspend, or revoke authority to operate, and must consider sponsor type, structure, location, and public benefit. Projects adding 90 or more nursing beds require a planning council recommendation. Operators can be charged an annual regulatory fee, capped at $50 per approved living unit.

Start dates and repeal of 2025 changes

Most of this act takes effect now, but sections 1 through 16 start on the same date and in the same way as a related 2025 law. The act also repeals a 2025 oversight section for continuing care communities. This changes timing and removes that prior amendment.

Sponsors & Cosponsors

Sponsor

  • Cordell Cleare

    Democratic • Senate

Cosponsors

  • Jake Ashby

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 76 • No: 1

Senate vote • 1/20/2026

FLOOR Vote

Yes: 56 • No: 1

committee vote • 1/12/2026

Rules Committee Vote

Yes: 20 • No: 0

Actions Timeline

  1. SIGNED CHAP.76

    2/13/2026Senate

  2. DELIVERED TO GOVERNOR

    2/13/2026Senate

  3. RETURNED TO SENATE

    1/21/2026House

  4. PASSED ASSEMBLY

    1/21/2026House

  5. ORDERED TO THIRD READING RULES CAL.50

    1/21/2026House

  6. SUBSTITUTED FOR A9486

    1/21/2026House

  7. REFERRED TO HEALTH

    1/20/2026House

  8. DELIVERED TO ASSEMBLY

    1/20/2026Senate

  9. PASSED SENATE

    1/20/2026Senate

  10. ORDERED TO THIRD READING CAL.30

    1/12/2026Senate

  11. REFERRED TO RULES

    1/8/2026Senate

Bill Text

  • Original

    1/8/2026

    PDF

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