§ 68-1908 — Life care contract, defined

Life care contract
means a contract between a continuing care retirement community and a resident
of such community or his or her legal representative which:
(1) Includes
each of the following express promises:
(a) The community agrees to provide services
at any level along the continuum of care levels offered by the community;
(b) The base
room fee will not increase as a resident transitions among levels of care,
excluding any services or items upon which both parties initially agreed;
and
(c) If the resident outlives and exhausts resources to pay for services,
the community will continue to provide services at a reduced price or free
of charge to the resident, excluding any payments from medicare, the medical
assistance program, or a private insurance policy for which the resident is
eligible and the community is certified or otherwise qualified to receive;
and
(2) Requires the resident to agree to pay an entry fee to the community
and to remain in the community for a minimum length of time subject to penalties
against the entry fee.

Legislative History

Source: Laws 2011, LB600, § 8.