Presentation to the Governor’s Continuing Care Advisory ... · rehabilitation or cessation of business plan of a provider . STATE OF FLORIDA. TRAVELER: EXAMPLE. DEPARTMENT OF INSURANCE

Presentation to the Governor’s Continuing Care

Advisory Council

September 29, 2014

DUTIES OF THE ADVISORY COUNCIL

• Meet at least once a year

• Elect officers

• Hold other meetings as required

• Keep a record of its proceedings

• Act in an advisory capacity to the Office

• Recommend to the Office needed changes in statutes and rules

• Upon the request of the Office, assist with any corrective action, rehabilitation or cessation of business plan of a provider

STATE OF FLORIDA TRAVELER: EXAMPLE DEPARTMENT OF INSURANCE & TREASURER

VOUCHER FOR REIMBURSEMENT SOCIAL SECURITY NO. XXX-XX-XXXX NON-EMPLOYEE____ HEADQUARTERS: TALLAHASSEE

OF TRAVEL EXPENSES ORGANIZATION NO.: 43-82-23-10-000R1 RESIDENCE (CITY): THE CITY YOU RESIDE IN

Travel Performed Purpose or Reason Hour of Meals for Per Diem or Class Map Vicinity Other Expenses/Common Carrier Date From Point of Origin (Name of Conference) Departure and Class A & B Actual Lodging C Mileage Mileage Paid by Traveler

To Destination Hour of Return Travel Expense Meals Claimed Claimed Amount Type

09/17/2013 CITY TO TALLAHASSEE ANNUAL CONTINUING CARE TIME HOTEL AND RETURN ADVISORY COUNCIL MEETING DEPARTED

MILES AIRPORT PARKING TIME AVIS CAR RENTAL

RETURNED

TOLLS

Statement of Benefits to the State or Attach Authorization Form (Conference or Convention): Column Column Column 0 MI. Column SUMMARY

Total Total Total 0.44 @MI. Total TOTAL ***PLEASE NOTE THAT THIS VOUCHER IS JUST AN EXAMPLE OF EXPENSES THAT MAY OCCUR. ALL EXPENSES MAY NOT APPLY TO EVERY PERSON. PLEASE REMEMBER TO SIGN THE VOUCHER AND ATTACH ALL ORIGINAL RECEIPTS. ***

TOTAL TOTAL

REMEMBER TO SIGN THE VOUCHER AND ATTACH ALL ORIGINAL RECEIPTS

LESS CLASS C MEALS (Employees Only)

NET AMOUNT DUE TOTALS REVOLVING FUND: MAIL CHECK TO: FOR ACCOUNTING USE ONLY: OBJECT AMOUNT CHECK NO.:

ORG: _________________________ CHECK DATE: EO: _________________

AGENCY VOUCHER NO.: NET AMOUNT DUE $

I hereby certify or affirm that the above expenses were actually incurred by me as necessary travel expenses in the performance of my official duties; attendance at a Pursuant to Section 112.031(3)(a), Florida Statutes, I hereby certify or affirm that to the best of my knowledge the above conference or convention was directly related to official duties of the agency; any meals or lodging included in a conference or convention registration travel was on official business of the State of Florida and was performed for the purpose(s) stated above. have been deducted from this travel claim; and that this claim is true and correct in every material matter and same conforms in every respect with the requirements of section 110.061, Florida Statutes.

TRAVELER'S SIGNATURE: X SUPERVISOR'S SIGNATURE:

TITLE: Council Member DATE PREPARED: X SUPERVISOR'S NAME: SUPERVISOR'S TITLE: DATE:

TRAVEL PERFORMED BY COMMON CARRIER OR STATE VEHICLE THIS SECTION REQUIRED TO BE COMPLETED ONLY WHEN COMMON CARRIER IS BILLED DIRECTLY TO THE STATE AGENCY.

Ticket Number or Name of Common Carrier or DATE State Vehicle Number From To Amount State Agency owning vehicle

DI4-500 (REV. 09/93)

Travel Voucher

FLORIDA INDUSTRY STATISTICS

Number of Licensed CCRCs

66

67

68

69

70

71

72

2006 2007 2008 2009 2010 2011 2012 2013 Today

69 69

71

70 70 70 70 70

71

Source: Life and Health Financial Oversight: September 29, 2014

Status of CCRCs

0

10

20

30

40

50

60

70

80

COA PCOA TOTAL MONTHLY REPORTERS

ACCREDITED RUN-OFF

70

2

72

11 18

4

71

0

71

7 13

5

August 28, 2013 September 29, 2014


Facility Date Remaining Residents

Bishop Gray – Davenport* 1992 1 Forester Haven* 2002 15 Fountains at Lake Pointe Woods 1991 1 Park of the Palms 2013 28 Waterside Retirement Estates 2001 8

CCRCs in Run-off

* = Providers not owning facilities.


Leon Alachua Clay Duval Westminster Oaks Oak Hammock Park of the Palms* Cypress Village Penny Ret. Comm. Fleet Landing

Pinellas Freedom Square Masonic Homes of FL Mease Manor Regency Oaks St. Mark Village Westminster Palms Westminster Shores Westminster Suncoast Hillsborough Canterbury Towers Freedom Plaza John Knox Village of T.B. University Village Ret. Ctr. Polk FL Presbyterian Homes The Estates at Carpenter’s Manatee Freedom Village Westminster Comm. Of Bradenton Providers Not Owning Facilities Bishop Gray Inn-Davenport * Independent Order of Foresters- Forester Haven *

Lake Freedom Pointe at the Villages Lake Port Square Lakeview Terrace Seminole Village on the Green

Sarasota Bay Village of Sarasota Fountains at Lake Pointe Woods* Glenridge at Palmer Ranch Lakehouse West Plymouth Harbor Village on the Isle Waterside Ret. Estates * Charlotte South Port Square Lee Cypress Cove Gulf Coast Village Shell Point Village Terraces at Bonita Springs

Collier Arlington at Naples Glenview at Pelican Bay Moorings Park Vi at Bentley Village * = Facilities in Runoff

St. Johns Glenmoor Vicar’s Landing Westminster Woods on J. Creek Volusia Alliance Comm. FL Lutheran Ret. Comm. John Knox Village Central FL Orange Mayflower Ret. Comm. Orlando Lutheran Towers Westminster Towers Winter Park Towers Brevard Buena Vida Estates Indian River Indian River Estates Martin Sandhill Cove Palm Beach Abbey Delray Abbey Delray South Devonshire at PGA Nat’l. Edgewater Pointe Estates Harbour’s Edge La Posada Sinai Resident of Boca Raton St. Andrews Estates Vi at Lakeside Village The Waterford Broward Covenant Village of FL John Knox Village of FL

Escambia Azalea Trace

CCRC Facility Location


Dade East Ridge Ret. Village Vi at Aventura

Number of CCRC Units Sold

1,000

1,200

1,400

1,600

1,800

2,000

2,200

2,400

2,600

2,800

3,000

3,200

2006 2007 2008 2009 2010 2011 2012 2013

2,302

2,056 2,020 2,000

2,178 2,111

2,407

2,635


Average Unit Sales Per Active CCRC

10

15

20

25

30

35

40

45

50

55

2006 2007 2008 2009 2010 2011 2012 2013

37

33 32 31 34

32

37

40


FACILITY IL AL SN Alliance Retirement Center 14 Arlington of Naples 163 79 44 Cypress Cove 44 Cypress Village 17 East Ridge Retirement Village 31 30 Fleet Landing 24 Florida Presbyterian Homes 20 Lakeview Terrace 54 Mease Manor 32 Moorings Park 32 64 Oak Hammock 30

Scheduled New Units


FACILITY IL AL SN Sinai Residences of Boca Raton 237 72 60 Shell Point Village 50 Vicar’s Landing 6 Westminster Oaks 12 Westminster Shores 19 Westminster Suncoast 29

TOTAL 599 424 140

Scheduled New Units Cont’d


OCCUPANCY &

UNIT COUNTS

Total Residents CCRC and Non-CCRC Residents


25,000

26,000

27,000

28,000

29,000

30,000

31,000

2006 2007 2008 2009 2010 2011* 2012 2013

30,008 29,879 29,888

28,912 28,749

28,158 28,211

29,041

*2011 – The Fountains at Boca Ciega surrendered their COA, removing approximately 400 Residents.


Total CCRC Residents

20,000

21,000

22,000

23,000

24,000

25,000

26,000

27,000

2006 2007 2008 2009 2010 2011 2012 2013

25,584 25,605

25,244

24,483 24,309 24,199 24,128

24,775

-4%

-3%

-2%

-1%

0%

1%

2%

3%

4%

5%

2006 2007 2008 2009 2010 2011 2012 2013

-0.7%

0.1%

-1.4%

-3.0%

-0.7% -0.5% -0.3%

2.7%

Percentage Change in CCRC Residents


500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

2006 2007 2008 2009 2010 2011 2012 2013

1,494

1,843

2,491

3,063

3,410 3,430 3,503 3,540

Vacant and Available CCRC Units For Sale


20,000

22,000

24,000

26,000

28,000

30,000

2006 2007 2008 2009 2010 2011* 2012 2013

27,562 27,800 28,492 28,879 28,921

28,362 28,572 29,093

Total Units

Source: Life and Health Financial Oversight: September 29, 2014 *2011 – The Fountains at Boca Ciega surrendered their COA, removing 519 units.

Median Occupancy All Units


70%

75%

80%

85%

90%

95%

2006 2007 2008 2009 2010 2011 2012 2013

91.7% 90.1%

86.4% 84.1% 83.6%

82.6%

84.5% 85.2%

10,000

12,000

14,000

16,000

18,000

20,000

2006 2007 2008 2009 2010 2011 2012 2013

18,149 18,311 18,516 18,868 18,926 18,892 18,845

19,218

Independent Living Units


Independent Living Median Occupancy


70%

74%

78%

82%

86%

90%

94%

2006 2007 2008 2009 2010 2011 2012 2013

94.0% 92.6%

88.9%

85.0% 84.1% 83.8%

85.3% 86.1%

0

500

1,000

1,500

2,000

2,500

3,000

2006 2007 2008 2009 2010 2011 2012 2013

2,461 2,495 2,726 2,719 2,789 2,741 2,808

2,937

Assisted Living Units


Assisted Living Median Occupancy


80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

2006 2007 2008 2009 2010 2011 2012 2013

86.1%

87.2% 87.3% 88.0%

87.5%

88.4%

87.1%

85.4%

500

1,000

1,500

2,000

2,500

3,000

2006 2007 2008 2009 2010 2011* 2012 2013

2,408 2,352 2,496 2,459 2,372

1,896 2,042 2,011

Rental Units

Source: Life and Health Financial Oversight: September 29, 2014 *2011 – The Fountains at Boca Ciega surrendered their COA removing 519 units.

0

1,000

2,000

3,000

4,000

5,000

2009 2010 2011 2012 2013

Sheltered Community Total

Skilled Nursing Beds


Skilled Nursing

Median Occupancy


84%

85%

86%

87%

88%

89%

90%

91%

2006 2007 2008 2009 2010 2011 2012 2013

88.5%

89.2%

86.8%

87.8%

90.0% 90.0%

87.7% 87.9%

June 2014 Median Occupancy

85%

85%

86%

86%

87%

87%

88%

88%

89%

89%

Independent Assisted Skilled Nursing

86.0%

87.5%

88.8%


FINANCIAL DATA

$0

$200,000,000

$400,000,000

$600,000,000

$800,000,000

$1,000,000,000

$1,200,000,000

$1,400,000,000

$1,600,000,000

2006 2007 2008 2009 2010 2011 2012 2013

Total Revenue


Median Revenue

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

$20,000,000

2006 2007 2008 2009 2010 2011 2012 2013


-20%

-10%

0%

10%

20%

2009 2010 2011 2012 2013

Monthly Fees Health Care Other Income

Median Revenue Growth


Total Operating Revenue

$0

$200,000,000

$400,000,000

$600,000,000

$800,000,000

$1,000,000,000

$1,200,000,000

$1,400,000,000

$1,600,000,000

$1,800,000,000

2006 2007 2008 2009 2010 2011 2012 2013 Total Operating Revenue means all revenue plus gross entrance fees

received less amortized entrance fees and refunds paid.


Total Expenses

$0

$200,000,000

$400,000,000

$600,000,000

$800,000,000

$1,000,000,000

$1,200,000,000

$1,400,000,000

$1,600,000,000

2006 2007 2008 2009 2010 2011 2012 2013


Median Expenses

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

$18,000,000

$20,000,000

2006 2007 2008 2009 2010 2011 2012 2013


Total Operating Expenses

$0

$200,000,000

$400,000,000

$600,000,000

$800,000,000

$1,000,000,000

$1,200,000,000

2006 2007 2008 2009 2010 2011 2012 2013

Total Operating Expenses means all expenses less facility interest, depreciation and amortization.


0%

1%

2%

3%

2009 2010 2011 2012 2013

2.7%

2.0%

0.8%

2.6%

2.0%

0.6%

2.4% 2.6% 2.6%

2.2%

Median Revenue Change Median Expense Change

Median Growth in Revenue & Expense


Median Net Income

-$400,000

-$300,000

-$200,000

-$100,000

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

2006 2007 2008 2009 2010 2011 2012 2013


Median Net Operating Income

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$4,500,000

$5,000,000

2006 2007 2008 2009 2010 2011 2012 2013 Net Operating Income includes gross entrance fees received and refunds and excludes earned

entrance fees, interest, depreciation and amortization expenses.


Percent of Facilities with Positive Net Income

0%

10%

20%

30%

40%

50%

60%

70%

80%

2006 2007 2008 2009 2010 2011 2012 2013

63.8% 61.2%

37.7%

56.5%

71.0%

60.3% 52.9%

55.1%


Percent of Facilities with Positive Net Operating Income

75%

80%

85%

90%

95%

100%

2006 2007 2008 2009 2010 2011 2012 2013

94.2% 95.5%

85.5% 85.5%

95.7%

91.2% 91.2%

94.2%

Net Operating Income includes gross entrance fees received and refunds and excludes earned entrance fees, interest, depreciation and amortization expenses.


CCRC Complaints

Number of Complaints

0

1

2

3

4

5

6

7

8

2007 2008 2009 2010 2011 2012 2013 2014


2014 Complaint Resolution 1. Company Issue- Contract Dispute - (3/19/2014) Resident feels the Residents’ council was not legitimately

created. Status: Closed Resolution: Question of Fact 2. Premium Issue- Premium Refund – (6/3/2014) Resident passed away and the assignees to the refund feel

that the facility did not pay the refund in full. Status: Closed Resolution: Contractual Provision


2013 Complaint Resolution 3. Coverage Issue – Coverage Options - (7/3/2013)

Consumer states that they are concerned whether a non-licensed facility is acting as a CCRC. Status: Closed

Resolution: Insufficient Information 4. Claim Issue – Mediation - (4/29/2013) Consumer requested mediation from the State. Status: Closed Resolution: Not eligible for mediation


Documents

Presentation to the Governor’s Continuing Care Advisory ... · rehabilitation or cessation of business plan of a provider . STATE OF FLORIDA. TRAVELER: EXAMPLE. DEPARTMENT OF INSURANCE