Adopting Actuarial Standards for States Charged with Oversight for CCRCs: Washington State’s Legislature Takes Another Important Step
Once the Governor signs 2SHB 2384, the actuarial provisions will be further implemented through regulations. 3/23/26 UPDATE: Washington Governor Bob Ferguson signed into law the new CCRC law!
The State of Washington is setting the stage for a strong CCRC environment by addressing core concerns raised by residents about financial soundness; the latest legislation requires Continuing Care and Life Plan Communities who offer “life care contracts,” to conduct “actuarial analyses” and to file written, certified reports. A central purpose of the process is to determine the company’s “ability to meet its overall contract obligations under life care contracts . . . under moderately …
