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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Revenue Recognition Software for CCRCs

LifeCalc is a software package that collects and analyzes your CCRC’s resident data and allows you to easily create a series of demographic and financial reports. Functions currently available are: *Amortization of Entrance Fees provides annual and monthly amortization of entrance fees in accordance with the AICPA Health Care Audit Guidelines. *Population Projections calculates 30-year population projections, including unit turnover, health care utilization and resident movement. *Financial An...
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Financial Underwriting Software for CCRCs

Examiner Financial Underwriting Software 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.  The model can be tailored specifically to your community’s fee structure, contracts, refund agreements, services, and costs.  Taken into account are the applicant’s age, gender, couple status, health status, choice of apartment, contract terms and more.  B...
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ASC 606 is coming – Are you prepared?

ASC 606, the new revenue recognition standard, is tracking to be finalized by the end of 2017 for implementation in 2018. The implications for recognizing revenue as it relates to nonrefundable entrance fees and monthly services can be significant, especially for Type A communities. Some important questions that must be considered are: *what are the actuarial impacts? *what software tools are available? *how early do you update your board with the potential impacts?   What ar...
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Continuing Care Actuaries testifies during the Florida Governor’s Continuing Care Advisory Council Meeting

Continuing Care Actuaries testifies during the Florida Governor's Continuing Care Advisory Council Meeting on Friday, February 17th. CCA was the only actuarial firm that was asked to provide an actuarial opinion on the new legislation currently being discussed in Florida that could have significant impacts on the future of Continuing Care Retirement Communities in the state. Should the legislation pass as its currently written, many CCRCs that are currently financially sound could be deemed impa...
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Continuing Care Actuaries Announces Partnership with Care Purchasing Service (CPS) an LCS Company

Baltimore, October 21, 2016 – Continuing Care Actuaries (http://www.continuingcareactuaries.com )- a national leader in providing actuarial consulting services to Life Plan Communities (CCRCs), healthcare entities, and long-term care insurers, announced today that it has become a preferred partner of CPS (http://www.cpslcs.com )an LCS Company. The partnership will give all CPS active members access to Continuing Care Actuaries full suite of actuarial consulting services. Continuing Care Actuarie...
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