Generally speaking, things don’t move particularly quickly in the political sphere. That said, the extensive amounts of legislation up for consideration at any given time do expose Residential Care Facilities for the Elderly (RCFEs) to risk. Something that impacts your facility could be buried in a large bill. Or it could stagnate as elected officials debate it, then suddenly lurch forward.
This doesn’t just impact the regulation that needs to govern your facility. It also affects the insurance you need.
Here at InsureMyRCFE, we can’t control what regulation goes into effect — or doesn’t. But we can help you properly insure your facility in light of the changes that occur over time.
How New Regulation Affects Your Coverage
To some extent, there’s a direct relationship between regulation and the insurance coverage you need. Take workers’ compensation as an example. If your state requires employers to secure this type of insurance for their employees and you want to run a business with staff — an essential at a residential care facility — you’ll need to get a workers’ comp policy.
But the regulation-insurance relationship isn’t always as straightforward. New laws might open you up to new liabilities. The law might not require that you alter your liability insurance, but doing so may be prudent in light of the way the new regulation will play out in your industry.
To a large extent, navigating insurance for your RCFE as the regulatory landscape changes starts with you staying informed about applicable new requirements.
Tips To Stay Informed
Fortunately, as experts in adjusting coverage in line with new regulation, we have some tips.
Bookmark Relevant Sites
You need to be in-the-know when new laws that impact your facility come down the pipes.
Ideally, you want to be informed as they pass, not as they get enacted. This way, you have some time to make any necessary adjustments, whether that’s to your facility’s operations, your insurance coverage, or elsewhere.
It helps here to periodically visit the relevant state agency websites (like the California Department of Social Services’s dedicated laws and regulations landing page for continuing care). Other authorities in the field — like the American Health Care Association (AHCA) — also maintain websites that can help you stay informed. The ACHA, for example, has a webpage with PDFs to the National Center for Assisted Living (NCAL)’s Assisted Living State Regulatory Review for each state.
Find out which agencies and authoritative sources operate in your jurisdiction (usually, that’s federal, state, and sometimes municipal sources). Then, make it a point to visit those groups’ websites periodically to learn as new regulation moves forward.
Talk With an Expert
It’s already a tall order to stay on top of new RCFE regulations. You shouldn’t have to actively manage your insurance coverage, too. That’s where the right RCFE insurance pro comes in.
Find an insurance agent who’s knowledgeable about RCFEs and the regulation that applies. They should be able to help you maintain the right policies and the right coverage levels to protect your facility — and your team and residents — even in the ever-shifting regulatory landscape.
We’re here to help with precisely that. To learn more about the insurance protections you can put in place for your RCFE — and to work with a team that will help you keep them updated in light of new regulations — call us at (805) 413-5668.
