FL S1340

Creates a new category of "continuing care at-home" contracts allowing providers to offer future access to nursing care or personal services to residents living outside the facility upon payment of an entrance fee.

Requires persons offering continuing care at-home contracts to obtain a certificate of authority from the Office of Insurance Regulation and comply with the same minimum reservation and escrow requirements as traditional continuing care contracts.

Establishes separate requirements for continuing care at-home including disclosure provisions about transportation, provider liability limitations, resident monitoring mechanisms, and relocation policies.

Allows an actuarial study to be substituted for a feasibility study when expanding continuing care at-home contracts, and reduces the escrow requirement for continuing care at-home expansion entrance fees from 75 percent to 50 percent.

Limits the combined number of outstanding continuing care and continuing care at-home contracts based on the facility's physical units, requiring a minimum of 10 percent independent living units for the initial 100 contracts and 5 percent for contracts exceeding 100.