Continuing Care Consumer Protection Act

[AI summary unavailable — showing source text] Continuing Care Consumer Protection Act - Directs that no federally assisted continuing care institution, including such institutions which are engaged in interstate commerce, may require any transfer of property, or any cash payment in addition to or in lieu of the institution's regular periodic charges for the care and services involved from any individual in return for, or as a condition of the provision to such individual of, medical, nursing, custodial, or other long-term care except under, and in accordance with, a written contract or agreement which sets forth the rights and obligations of the institution and such individual. Sets forth requirements which must be met by such contracts in order to conform to this Act, including: (1) full written financial disclosure to potential patients prior to the time the contract is entered into; (2) a complete description of the services to be rendered; (3) a description of the method by which any payment is to be made; and (4) a statement that termination of the contract will be permitted upon 90-days notice to the nonterminating party. Requires that the financial records of each institution subject to this Act shall be audited not les…