Waiver of State Regulations Pertaining to Resident Funds

To: Assisted Living Residences From: Cheryl McMahon On March 27, 2020, the CARES act was signed into law, one provision of which included a stimulus check being sent to all qualifying citizens. This includes residents of Assisted Living Residences. Most residents are due to receive a stimulus check of at least $1200.00, which exceeds the current $500.00 limit that can be kept in the facilities’ general operating funds.   Acknowledging this current, temporary situation, the following regulation is waived for all Assisted Living Residences, with no waiver application necessary: 6 CCR 1011-1, Chapter 7, 11.10(B) Upon entering into an agreement with a resident for financial management services, the assisted living residence shall exercise fiduciary responsibility for these funds and property, including, but not limited to, maintaining any funds over the amount of five hundred dollars ($500) in an interest-bearing account, separate from the general operating fund of the ALR, which interest shall accrue to the resident. Facilities intending to utilize this waiver may do so, and agree to accept the following conditions: 1.    Facilities must provide notice to impacted residents and/or their legal representatives. The following information must be included in the notice: a.    Residents with outside bank accounts or family members/legal guardians willing to hold the resident’s funds must be offered the option of doing so and provided assistance with such. The facility shall document the choice of each resident to either manage the funds on their own, or to grant permission to the facility to manage the funds on behalf of the resident. b.    Information regarding the facility’s grievance policy and contact information for the Department’s Complaints section should residents or representatives have concerns during the pendency of the waiver. 2.    Facilities may hold up to $1700.00 per resident. The waiver will terminate upon notice from the Department. Once the waiver is terminated, all facilities must immediately come into compliance with the existing regulation and deposit all excess resident funds into an interest-bearing account. The Department will ensure a review of facility accounting records is included in all standard surveys, effective June 1, 2020. For questions or assistance, contact Cheryl McMahon (cheryl.mcmahon@state.co.us). Cheryl McMahon Branch Chief Home and Community Facilities Branch Chief