Insurance department, providers back overhaul of continuing care retirement community rules

Lawmakers heard testimony on Senate Bill 124 FN, a comprehensive overhaul of New Hampshire’s regulatory framework for continuing care retirement communities (CCRCs).

The bill, introduced on behalf of Senator Ricciardi, would modernize a statute more than 30 years old and give the New Hampshire Insurance Department new tools to monitor financial health, the department said. “When you are talking about an entity who is in that degree of crisis, the options and the opportunities available to you to rectify that situation are greatly narrowed,” DJ Betancourt, commissioner of the Insurance Department, told the committee. The department said it had responded to three CCRCs facing major financial distress in the past decade, including one that had…