SECTION 1. Whereas, elderly residents are living longer because of the medical advancements (better life through chemistry),
Where as, a newly passed law (H.4347) allows retirement homes residents to have legalized access to purchase alcoholic beverages at the facilities (purchase increased enjoyment through libation),
Where as, IRAs, Annuities, and other forms of savings distributions require risk
adverse accounting and wealth management (avoid out living our money),
Where as, electronic billing services that are available to the public can alert senior residents with billing due date alerts and post payment transactions the same day (prodding fragile minds),
Therefore, the following amendments to Massachusetts General Laws, so it will be aligned and supportive of existing executive office of elder affairs guidance and initiatives for Continuing Care Retirement Communities (CCRCs), Life Care Communities (LCCs) and other retirement facilities to be provided with access to electronic billing, purchasing and payment services that are available to the public through current advancement in computerized and network-based technologies.
These electronic billing, purchasing and payment service provides cash flow management, accounting reporting, as well as annual budget information, and more. These features will aid senor residents in improving transaction accounting operations and wealth portfolio management for IRAs, Annuities, and other forms of savings distributions.
SECTION 2. Hereby amends section 76 of Chapter 93 as appearing in the Official Edition of the General Laws passed through May June 30, 2014 by adding after the paragraph (g 1-3).
(g) Providers shall, to the maximum extent practicable:
(4) Provide residents access to electronic billing, purchasing and payment services that are available to the public through current advancement in computerized and network-based technologies.
SECTION 3. REGULATION OF TRADE AND CERTAIN ENTERPRISES should promulgate the amendment through the Executive Office of Elder Affairs.
The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.