Requires nursing homes that maintain a trust fund or funds into which residents money is deposited to conduct quarterly audits and to report the findings of such audits to the commissioner of public health.
TITLE OF BILL: An act to amend the public health law, in relation to requiring nursing homes that maintain a trust fund or funds into which residents' money is deposited to conduct quarterly audits and to report the findings of such audits to the commissioner of public health
PURPOSE OR GENERAL IDEA OF BILL:
This bill would require nursing homes to at their own expense, arrange for quarterly financial audits of all books and records pertaining to each trust fund account into which moneys of residents of the nursing home facilities operated by the company are deposited. The audit shall be conducted by a third party unaffiliated with the nursing home company arid shall be conducted for the purpose of ensuring that residents' moneys are not misappropriated.
SUMMARY OF SPECIFIC PROVISIONS:
Section 1. Amends the public health law by adding a new section 2862-a. Provides for nursing home companies to arrange for quarterly financial audits, at its own expense, of all books and records pertaining to each trust fund account in which monies of residents at the facility is operated and deposited by the company. Requires an unaffiliated third party to conduct a separate audit to ensure that residents' monies are not misappropriated. Mandates that within sixty days of the completion of the audit copies of the report shall be provided to the commissioner. Specifies that the commissioner may conduct an examination of books and records at any given time.
Section 2. Effective Date
This legislation seeks to mimic federal regulations that require all nursing homes that participate in Medicare and Medicaid to provide for quarterly audits of trust fund accounts to prevent the misappropriation of the residents' funds at nursing home companies.
2014: New Bill/A.8247-Referred to Health 2013: A.8247- Referred to Health
None to State and Local Government
This act shall take effective on the first of January, next succeeding the date upon which it shall become a law.
STATE OF NEW YORK ________________________________________________________________________ 6464 IN SENATE January 27, 2014 ___________Introduced by Sen. DIAZ -- read twice and ordered printed, and when printed to be committed to the Committee on Health AN ACT to amend the public health law, in relation to requiring nursing homes that maintain a trust fund or funds into which residents' money is deposited to conduct quarterly audits and to report the findings of such audits to the commissioner of public health THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The public health law is amended by adding a new section 2862-a to read as follows: S 2862-A. AUDITS OF TRUST FUND ACCOUNTS. 1. EACH NURSING HOME COMPANY SUBJECT TO THE PROVISIONS OF THIS ARTICLE SHALL, AT ITS OWN EXPENSE, ARRANGE FOR QUARTERLY FINANCIAL AUDITS OF ALL BOOKS AND RECORDS PERTAIN- ING TO EACH TRUST FUND ACCOUNT INTO WHICH MONEYS OF RESIDENTS OF THE NURSING HOME FACILITIES OPERATED BY THE COMPANY ARE DEPOSITED. A SEPA- RATE AUDIT SHALL BE CONDUCTED FOR EACH NURSING HOME FACILITY OPERATED BY THE COMPANY IN THIS STATE. 2. THE AUDITS SHALL BE CONDUCTED BY A THIRD PARTY UNAFFILIATED WITH THE NURSING HOME COMPANY AND SHALL BE CONDUCTED FOR THE PURPOSE OF ENSURING THAT RESIDENTS' MONEYS ARE NOT MISAPPROPRIATED. 3. COPIES OF THE REPORT OF SUCH AUDITS SHALL BE PROVIDED TO THE COMMISSIONER WITHIN SIXTY DAYS OF THE COMPLETION OF THE AUDIT. 4. THE COMMISSIONER MAY EXAMINE AND AUDIT THE BOOKS AND RECORDS OF THE COMPANY AT ANY TIME. S 2. This act shall take effect on the first of January next succeed- ing the date upon which it shall become a law.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11966-01-3