Amortization of Commissions for CCRCs (ASC 606)

With the new revenue recognition standard (ASC 606) any community (Type A, B or C contract) that has an entry fee will have to amortize sales commissions. The paragraphs below are taken from the most recent AICPA Working Draft ( Issue #8-7)that describes the amortization requirements when obtaining contracts.  The Working Drafts are out for public comment so changes are possible. Issue #8-7– Accounting for Contract Costs Expected Overall Level of Impact to Industry Accounting: Minimal Wording...
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Tyler Zentz is promoted to Senior Actuarial Consultant, becomes an Associate of the Society of Actuaries (A.S.A) and a Member of the American Academy of Actuaries (M.A.A.A.)

Continuing Care Actuaries is pleased to announce that Tyler Zentz has been promoted to the position of Senior Actuarial Consultant. Also, Tyler has satisfied all requirements in attaining the designation of Associate of the Society of Actuaries (A.S.A.) and has been accepted as a Member of the American Academy of Actuaries (M.A.A.A.) To many employers, clients, and government leaders, the MAAA designation denotes professionalism and credibility. In order to sign statements of actuarial opinion, ...
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New Year, New Plan, New Future for Your Life Plan Community – An Update on New Revenue Recognition Standard (ASC 606) WEBINAR

Date: Thursday, January 11, 2018 Time: 10–11 a.m. Central time https://www.bkd.com/webinars/2017/new-year-new-plan-new-future-for-your-life-plan-community.htm CPE Credit: One CPE credit in the Auditing field of study may be awarded upon verification of participant attendance. Our webinar will feature insights from: • Kimberly McKay, Chair of the AICPA’s Revenue Recognition Task Force • Brian Todd, BKD National Health Care Tax Leader • Brad Paulis, Continuing Care Actuaries Partner &...
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LEADINGAGE ANNUAL MEETING & EXPO 2017

CONTINUING CARE ACTUARIES is excited to once again be exhibiting at the LEADINGAGE ANNUAL MEETING & EXPO in New Orleans from October 29 – November 1, 2017. This event is the highlight of our year, and we look forward to connecting with you! VISIT BOOTH #1307 Stop by our booth to learn more about the new revenue recognition standard ASC 606 and LifeCalc our revenue recognition software that can help you make revenue recognition and entrance fee amortization easy! Please join us for o...
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The Value of CARF Accreditation for Continuing Care Retirement Communities (CCRCs)

There are many advantages to CARF accreditation. Customers look to CARF accreditation as their assurance that programs and facilities are of the highest quality. Service providers have the advantage of clearly defined and internationally-accepted standards to ensure that services remain among the elite for excellence. Fundamentally, one of the greatest benefits of accreditation is the extremely thorough self- and peer-evaluation process that a community undergoes in order to achieve accredited s...
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Continuing Care Actuaries speaks at the LeadingAge Florida Conference

Chris Borcik, Principal Consultant, and FSA will be leading a panel discussion on Tuesday, July 18th at 8:00 am at the LeadingAge Florida conference. The topic is Increasing Independent Living Entry Ages - Actuarial, Marketing, and Operational Implications. The average age for independent living residents at Life Plan Communities has been on the rise in recent years. The panel will analyze the pros and cons of increased entry ages from three distinct vantage points - the actuarial, the marketing...
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Margin Magic Support Discontinued

It has come to our attention that users of Margin Magic financial underwriting software have received letters stating that support is no longer offered. If you are a user of Margin Magic and have received such a letter, then we are happy to inform you that you have an alternative solution. Examiner is an easy-to-use, but highly sophisticated computer model designed to help management anticipate future fee subsidies by accurately estimating the risk associated with each applicant to the community...
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Do you know the pricing margin for existing contracts for your CCRC?

Are you considering new contracts and pricing options? Do you know the pricing margin for existing contracts? Do you have low occupancy or hard to sell units? Are you considering an expansion? Are you adding any new amenities and upgrades? When was the last time you reviewed your community’s healthcare utilization and trends? When was the last time your community had a Comprehensive Actuarial Study performed? Depending on the answers to any of these questions, it could be time for a Comprehensiv...
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Self-Funded Health Plans

Continuing Care Actuaries are experts in the healthcare field and have been working with health plans for over 26 years. We are an actuarial firm, not a typical broker /consultant. Our underwriting analysis, contract review and market understanding are at a significantly higher level than a broker. Continuing Care Actuaries has expertise in: Ø Calculating IBNR and claim reserves   Ø Analyzing large claim databases   Ø Individual and aggregate stop-loss coverage   ...
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