When people begin researching Continuing Care Retirement Communities (CCRCs), they’re often asking two important questions: What exactly does a CCRC do? And what protections should be in place?

At Buena Vida Estates, we believe understanding both is essential. Florida’s regulatory structure plays an important role in how our CCRC operates, and knowing what that means can bring clarity and peace of mind.

First: What a CCRC Is Designed to Do

A Continuing Care Retirement Community (also called a Life Plan Community) is designed to provide:

• Independent living for active older adults
• Access to higher levels of care if and when needed
• A long-term plan that supports residents through changing health needs

Residents typically enter while living independently and remain part of the same community as needs evolve.

The model is built around community, consistency, and feeling at home. Instead of relocating as health needs change, residents are able to stay in a familiar environment with established relationships and support systems.

What Protections Should You Look For?

When exploring a CCRC, it’s reasonable to ask how the community is regulated and what oversight exists.

In Florida, CCRCs are regulated under Chapter 651 of the Florida Statutes.

Two state agencies play key roles:

• The Florida Office of Insurance Regulation, which oversees the financial health of CCRCs and their ability to meet long-term obligations
• The Agency for Health Care Administration (AHCA), which oversees licensure and the quality of care provided within healthcare settings

Florida law regulating CCRCs is regarded as one of the most stringent in the nation because of its financial reserve and disclosure requirements, as well as restrictions on the release of escrowed entrance fees.

These financial reserve and disclosure standards are part of the state’s effort to promote transparency and stability within the CCRC model.

Legislative Updates in Florida

Florida has more than 70 CCRCs serving over 31,000 residents. With more than 21% of the state’s population age 65 or older, retirement living plays an important role within the state.

Recent legislation (including CS/CS/HB 1573) was supported by LeadingAge Florida and the Florida Life Care Residents Association. The legislation aims to help ensure the future viability and financial strength of the CCRC model in Florida.

These updates are intended to:

• Streamline certain financial reporting requirements
• Modify expansion requirements
• Expand access to capital while maintaining oversight
• Require disclosure regarding resident representation on boards and management changes

Supporters have described these efforts as a way to help ensure Florida seniors have access to trustworthy, high-quality senior living options.

The Importance of Transparency for CCRCs

Florida’s regulatory structure emphasizes:

• Financial reserve requirements
• Disclosure standards
• Oversight of entrance fee escrow processes

These measures are designed to promote transparency and help protect residents’ interests.

When evaluating a CCRC, families might want to ask:

• How is the community regulated?
• What state agencies provide oversight?
• What financial disclosures are available?
• How does the community communicate updates to residents?

Clear answers to these questions matter.

A Local Community With Long-Term Roots

Buena Vida Estates is a locally managed CCRC. We are not part of a large national corporation. For more than 40 years, our focus has been on serving Brevard County residents with stability, consistency, and personal attention.

Being local means:

• Leadership is rooted in the community
• Decisions are made close to home
• Relationships matter

As Brevard’s only not-for-profit CCRC, our mission centers on long-term service to residents – not external shareholders.

Why This Matters

Choosing a CCRC is about more than just services, amenities, and floorplans. It’s about structure, transparency, and long-term planning.

A well-regulated model provides:

• Defined oversight
• Required disclosures
• State-level financial review
• Licensure standards for healthcare components

Understanding these elements can help families make informed decisions about their retirement and long-term care with confidence.

If you would like to learn more about how the CCRC model works at Buena Vida Estates, we are happy to answer your questions. You can also ask for a copy of our Chapter 651 for more information.

Schedule a visit or give us a call to start the conversation.