Oversight committee asked nursing homes to ensure residents’ money is safe
The Senate Aging Committee chairman and Florida Democrat Bill Nelson asked for a review of nursing homes’ conditions and whether proper oversight is in place to ensure that residents’ money is safely put in trust funds by the institutions on October 21.
The probe is being pushed for in light of a USA Today investigation that revealed nursing home residents have been subjected to having their accounts mismanaged. The USA Today story told of “unscrupulous and dishonest employees at nursing homes who siphoned, forged, and swindled millions of dollars from the trust funds of unsuspecting and helpless residents,” citing 1,500 cases as attested to by regulators.
Mismanagement of the funds came in various forms, from being unable to pay interest on the trust funds to not being able to account for the holdings and not having enough insurance to protect the nursing home residents’ money from loss or theft.
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