An industry association and group representing residents have come together to form a workgroup to review and strengthen regulations for Florida’s continuing care retirement communities to protect the financial interests of residents and the stability of the senior living setting.
Announcement of the effort of LeadingAge Southeast and the Florida Life Care Residents Association, or FLiCRA, arrives at the same time as news of the arrest of the head of a Florida CCRC over alleged contract fraud.
The CCRC workgroup — which includes providers, residents, investors and regulatory experts — will evaluate regulatory frameworks and identify opportunities for improvements to better protect the interests of the 30,000 Florida residents living in the state’s 72 CCRCs, and their financial investments. LeadingAge Southeast called the workgroup a “proactive step” to developing meaningful legislation for the 2026 legislative session.
“The financial health of continuing care retirement communities is critical to the well-being of thousands of residents across Florida,” LeadingAge Southeast President and CEO Steve Bahmer said. “We are committed to ensuring that these communities have the support they need to thrive while also safeguarding the financial security of the residents they serve.”’
Key objectives of the group include reviewing and refining existing regulations to ensure the state has the tools necessary to intervene and assist financially troubled CCRCs, developing regulatory standards that balance oversight with CCRC operational needs, and promoting fair and transparent regulations to foster long-term stability of CCRCs.
FLiCRA Board President Pat Burdsall said that moving into a CCRC is one of the most significant decisions retirees will make.
“The CCRC model has proven to support aging in place with dignity, while providing access to wellness resources and socialization with like-minded individuals,” Burdsall said. “Since CCRCs require substantial resident investment, appropriate regulatory safeguards are needed to ensure promises made are promises kept.”
Alleged fraud at CCRC
Meanwhile, Tampa Life Plan Village Board President Ronald Richard Schuck has been arrested on charges of continuing care contract fraud following an extensive investigation into allegations of fraud and mismanagement at Tampa Life, a CCRC previously known as University Village.
Schuck is accused of misappropriating funds from the reserves and mismanaging essential residential services, including shelter and nursing care, resulting in the “painful” displacement and relocation of vulnerable residents, according to the Florida Department of Financial Services.
A Criminal Investigations Division Office of Fiscal Integrity investigation revealed that under Schuck’s leadership, Tampa Life and Big Rock Management Company acquired Tampa Life Plan Village from bankruptcy, establishing a nonprofit organization to acquire, renovate and operate the senior living community. Instead, state insurance regulators were notified on April 3 that Tampa Life Plan Village intended to file for bankruptcy, cease operations and displace its 109 residents.
Florida’s insurance commissioner said the investigation found that residents lost a collective $30 million in entrance fees and that the community violated the state’s insurance code. That led Florida Insurance Commissioner Mike Yaworksy to vow to “strongly advocate” for more CCRC oversight control in the state.
Schuck is accused of misappropriating funds from the reserves and mismanaging essential residential services, including shelter and nursing care, resulting in the “painful” displacement and relocation of vulnerable residents.
Schuck was booked into Pinellas County Jail on April 20 on a third-degree felony, which carries a sentence up to five years in prison if he is convicted.
“Today’s arrest underscores CID’s mission to safeguard Floridians from fraud and financial abuse, especially when it involves our seniors,” CID Director Simon Blank said in an April 30 statement.
For additional coverage of the Florida collaboration, see McKnight’s Long-Term Care News.
Source: McKnights Seniorliving
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