Second Substitute House Bill 2384 (69th Legislature, 2026) increases regulatory oversight of continuing care retirement communities (CCRCs) by amending and adding sections in chapter 18.390 RCW and by amending RCW 48.02.065 and adding a section to chapter 48.02 RCW. The bill imposes new procedural requirements for registration: applicants offering life care contracts must submit an actuarial analysis beginning July 1, 2027 and then at every other registration renewal (the department may stagger initial imposition). Applicants must also submit audited financial statements (or specified alternatives for new communities), copies of residency agreements, required disclosure statements and attestations, and registration fees. The department of social and health services must register entities with complete applications within 60 days, may issue provisional registrations while actuarial reviews are pending, maintain a public online listing of registered CCRCs, and collect fees to reimburse the office of the insurance commissioner for actuarial reviews; registrations are valid for two years and are not transferable. The office of the insurance commissioner is directed to develop standards and review actuarial analyses, including assessing whether applicants can meet life care contract obligations using accepted actuarial standards and whether actuarial balance is satisfactory under “moderately adverse conditions.” If the office finds an actuarial balance satisfactory it notifies the department; if not satisfactory it notifies the department and the applicant, provides reasons sufficient to cure deficiencies, and informs the applicant of the right to appeal to the office. The office may communicate with an applicant’s actuarial representative, request additional materials as needed, establish qualifications and standards for actuarial review, administer appeals under chapter 48.04 RCW, and adopt rules. The bill also amends confidentiality rules in RCW 48.02.065 to declare documents and information related to actuarial analyses confidential and privileged and not subject to public disclosure, while allowing the insurance commissioner to share such information with specified authorities that agree to maintain confidentiality. The office must prepare an implementation status report by December 1, 2026 (Sec. 8), and sections 1–7 take effect July 1, 2027; Sec. 8 expires January 1, 2028. Some referenced provisions and details are not included in the provided facts: the full text of the new or amended sections to chapter 48.02 RCW, the complete actuarial-review standards and timelines, fee amounts or structures, appeal procedures beyond the right to appeal, and the disclosure-statement content in RCW 18.390.060 are not present in the extracted material.

If enacted, starting July 1, 2027 continuing care retirement communities (CCRCs) that sell life care contracts will have to supply a qualified actuarial analysis with their registration and every other renewal. The Office of the Insurance Commissioner will set review standards, examine those actuarial reports, and tell the Department of Social and Health Services (DSHS) whether the community’s finances look satisfactory; DSHS must register complete applications within 60 days, may issue provisional registrations while reviews are pending, will keep a public online list with links to review results, and will collect fees to run the program and reimburse the insurance office. The insurer’s review process includes written notice and reasons if a report is unsatisfactory and an appeal right; confidentiality protections limit public disclosure of the actuarial materials. Sections 1–7 become effective July 1, 2027, and the insurance office must deliver an implementation report by December 1, 2026; the implementation-report provision expires January 1, 2028. The groups most affected are CCRC operators, DSHS, and the Office of the Insurance Commissioner. CCRCs will likely face new, recurring costs to hire qualified actuaries, prepare supporting memoranda, and pay registration and review fees, and they risk delays or challenges to registration if an actuarial review is unfavorable. DSHS will take on added responsibilities to review disclosures, maintain the public listing, collect and set fees, and handle provisional registrations; the insurance office will need resources to develop standards, review analyses, and manage appeals or contract for outside reviewers. Important implementation details—exact review timelines, fee amounts, what happens if a review is adverse beyond the right to appeal, and the text of related amendments referenced in the bill—are not provided in the extracted facts.