This bill requires various residential long-term care facilities, including nursing homes and assisted living facilities, to provide quarterly financial accounting statements to residents and their designated representatives, such as guardians or next-of-kin. The new legal language mandates that these statements include a detailed account of the resident's funds, an itemized list of property held for their use, and all financial transactions, including deposits and withdrawals, substantiated by receipts. This requirement aims to enhance financial transparency and protect vulnerable residents, particularly those who are wards of the State, from potential financial exploitation.

Additionally, the bill strengthens the rights of residents by ensuring they can manage their own finances and receive clear documentation regarding any fee increases related to their care. It emphasizes the importance of transparency in financial dealings and the protection of residents' rights, including the right to refuse medication and participate in their own care planning. By expanding the obligation to provide financial statements to more types of facilities and ensuring that trusted representatives receive these accounts, the bill aims to promote accountability and safeguard the financial interests of residents in long-term care settings.

Statutes affected:
Introduced: 26:2H-128, 26:2H-154, 30:4-24.2, 30:13-3, 52:27D-360.3, 30:13-5