At least 16 facilities have gone bankrupt since the pandemic, survey finds By James R. Hood of ConsumerAffairs July 7, 2025 Bankruptcy filings among continuing-care retirement communities have surged since the pandemic, eroding residents promised refunds. Seniors have lost significant portions of hefty entrance fees meant to secure lifelong care. Industry experts warn weak regulation and ties to the housing market leave retirees financially vulnerable. When 89-year-old Arlene Kohen moved into Harborside, a continuing-care retirement community in Port Washington, N.Y., she believed she had secured peace of mind. The community offered independent living along with the promise of nursing, memory, and assisted care should her health decline. Like many seniors, she paid a steep price for that security: a $945,000 entrance fee and $5,700 in monthly charges by the end of her stay. But that promise unraveled as Harborside… ...[TheTopNews] Read More.
20 hours ago
