Press Release
(Washington, DC) – U.S. Senators Elizabeth Warren (D-MA) and Ed Markey (D-MA) have introduced the Corporate Crimes Against Health Care Act (S. 4503) to address alleged private equity and corporate abuse in health care. Maggie Elehwany, Argentum Senior Vice President of Public Affairs, issued the following statement:
Argentum is concerned that the Corporate Crimes Against Health Care Act in its current form includes assisted living communities as health care providers. Assisted living communities are fundamentally different from the health care entities included in the legislation. Assisted living communities provide access to health care services, but primarily offer supportive housing and personalized care designed to promote independence and quality of life for older adults.
Assisted living is a market-driven, private-pay, residential environment that, unlike the health care entities defined in the proposed legislation, does not depend on Medicare and Medicaid reimbursement, or private health insurance.
Including assisted living in this bill could have enormous consequences for the 1.4 million Americans who today call assisted living home, and the millions of seniors who will need care in the future. Inappropriately including assisted living with clinical health care settings outlined in the bill would threaten a model of care that improves the lives of seniors, and which is in critical need of additional private investment to meet the present and future care needs of a rapidly aging population.
Private capital investment in assisted living is needed to meet rapidly growing demand, and legislation that seeks to curtail these vital investments will likely result in access shortages for millions of seniors for decades to come, and almost certainly make assisted living less affordable.
We urge lawmakers to consider the potential negative impacts this bill could have on assisted living communities and the residents they serve. It’s essential to foster a regulatory environment that supports the growth and sustainability of assisted living, ensuring that older adults have access to the care and support they need.
About Argentum
Argentum is the leading national association exclusively dedicated to supporting companies operating professionally managed, resident-centered senior living communities and the older adults and families they serve. Since 1990, Argentum has advocated for choice, independence, dignity, and quality of life for all older adults.
Argentum member companies operate senior living communities offering assisted living, independent living, continuing care, and memory care services. Along with its state partners, Argentum’s membership represents approximately 75 percent of the senior living industry—an industry with a national economic impact of nearly $250 billion and responsible for providing over 1.6 million jobs. For more information, visit www.argentum.org.
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