Florida bills to protect seniors target assisted living, annuities
By Diane C. Lade
South Florida Sun-Sentinel
April 16, 2008
Florida senior citizens could receive more consumer protections regarding their investments and assisted-living housing under two measures working their way through the state Legislature during its ongoing session.
One proposal would increase criminal penalties and fines for financial services sales agents who knowingly sell seniors unsuitable annuities, or who prey on those with dementia. The bill also takes a harder look at some of the new titles salespeople claim give them special expertise in managing retirees' money.
The second measure would increase background checks for both residents and employees of assisted-living facilities, as well as give stricter guidelines for discharging residents.
Both measures have passed the Senate but still are moving through House committees, where they could be altered.
Abridged
SOURCE: sunsentinel
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