Florida Senate - 2016                              CS for SB 542
       
       
        
       By the Committee on Health Policy; and Senator Stargel
       
       
       
       
       
       588-01307-16                                           2016542c1
    1                        A bill to be entitled                      
    2         An act relating to continuing care facilities;
    3         amending s. 400.235, F.S.; providing financial
    4         requirements for certain nursing homes to be
    5         recognized as a Gold Seal Program facility; providing
    6         an effective date.
    7          
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Paragraph (b) of subsection (5) of section
   11  400.235, Florida Statutes, is amended to read:
   12         400.235 Nursing home quality and licensure status; Gold
   13  Seal Program.—
   14         (5) Facilities must meet the following additional criteria
   15  for recognition as a Gold Seal Program facility:
   16  (b) Evidence financial soundness and stability according to
   17  standards adopted by the agency in administrative rule. Such
   18  standards must include, but not be limited to, criteria for the
   19  use of financial statements that are prepared in accordance with
   20  generally accepted accounting principles and that are reviewed
   21  or audited by certified public accountants.
   22         1. A nursing home that is part of the same corporate entity
   23  as a continuing care facility licensed under chapter 651 which
   24  meets the minimum liquid reserve requirements specified in s.
   25  651.035 satisfies the financial soundness and stability
   26  requirement if such continuing care facility and is accredited
   27  by a recognized accrediting organization under s. 651.028 and
   28  rules of the Office of Insurance Regulation, satisfies this
   29  requirement as long as the accreditation is not provisional; or
   30  if such continuing care facility demonstrates that it meets in
   31  its entirety the financial standards adopted by the agency.
   32         2. A nursing home that is part of a multifacility corporate
   33  entity operating nursing homes, assisted living facilities, or
   34  independent living facilities or a combination thereof satisfies
   35  the financial soundness and stability requirement if the nursing
   36  home submits a consolidated corporate financial statement to the
   37  agency and demonstrates that the multifacility corporate entity
   38  in its entirety meets the financial standards adopted by the
   39  agency.
   40  
   41  For purposes of this paragraph, facilities operated by a federal
   42  or state agency are deemed to be financially stable for purposes
   43  of applying for the Gold Seal.
   44  
   45  A facility assigned a conditional licensure status may not
   46  qualify for consideration for the Gold Seal Program until after
   47  it has operated for 30 months with no class I or class II
   48  deficiencies and has completed a regularly scheduled relicensure
   49  survey.
   50         Section 2. This act shall take effect upon becoming a law.