CO HB1184

Creates a new "Community-Based Continuing Care" (CBCC) program allowing seniors age 62+ to receive life care services in their private homes while awaiting admission to a life care institution, with providers required to have operated a life care institution for at least three years

CBCC contracts must detail all services, fees, and financial conditions; include a 36-month financial statement from the provider; and give participants a 7-day right to rescind with full refund of entrance fees

Providers can only cancel CBCC contracts for good cause, including danger to self/others, persistent nonpayment, repeated interference with other participants, refusal to follow program rules, material misrepresentation, or material contract breach

CBCC providers must maintain separate actuarial-based reserves, file annual reports with the commissioner, and are subject to examination by the state commissioner of financial services

Expands refund eligibility to providers with a policy not to terminate residents for inability to pay, and adds home health agencies to facilities subject to life care institution regulations